Favarge: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Favarge
Largest movements
- Tangible fixed assets +€3.2m
up €3.2m (+80.6%), from €4.0m to €7.2m
of which Land and buildings: +€5.3m
- Cash -€515,342
down €515,342 (-97.9%), from €526,219 to €10,877
mainly Investment in fixed assets (net) (-€3.2m) and Net result for the year (-€145,453)
- Debts after one year +€2.6m
up €2.6m (+70.1%), from €3.8m to €6.4m
- Profit (loss) carried forward -€145,453
down €145,453 (-19.4%), from -€750,068 to -€895,521
- Trade debts +€99,404
up €99,404 (+16,987%), from €585 to €99,989
- Current portion of long-term debt +€97,520
new in 2025: €97,520
- Financial charges +€32,726
up €32,726 (+794%), from €4,120 to €36,846
- Gross operating margin -€23,092
down €23,092 (-29.3%), from -€78,772 to -€101,864
- Other operating charges -€1,566
down €1,566 (-29.0%), from €5,405 to €3,839
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,532,203 | €7,280,943 | +€2.7m | +60.6% |
| Formation expenses | 20 | €2,952 | €2,952 | = | 0.0% |
| Fixed assets | 21/28 | €3,980,611 | €7,187,317 | +€3.2m | +80.6% |
| Tangible fixed assets | 22/27 | €3,980,611 | €7,187,317 | +€3.2m | +80.6% |
| Land and buildings | 22 | €1,873,774 | €7,160,336 | +€5.3m | +282% |
| Plant, machinery and equipment | 23 | €2,521 | €11,098 | +€8,576 | +340% |
| Furniture and vehicles | 24 | €4,216 | €15,883 | +€11,667 | +277% |
| Assets under construction and advance payments | 27 | €2,100,101 | €0 | -€2.1m | -100% |
| Current assets | 29/58 | €548,640 | €90,674 | -€457,966 | -83.5% |
| Amounts receivable within one year | 40/41 | €18,030 | €70,595 | +€52,565 | +292% |
| Trade receivables | 40 | €3,065 | €18,610 | +€15,545 | +507% |
| Other amounts receivable | 41 | €14,965 | €51,985 | +€37,020 | +247% |
| Cash at bank and in hand | 54/58 | €526,219 | €10,877 | -€515,342 | -97.9% |
| Deferred charges and accrued income | 490/1 | €4,391 | €9,202 | +€4,811 | +110% |
| Total equity and liabilities | 10/49 | €4,532,203 | €7,280,943 | +€2.7m | +60.6% |
| Equity | 10/15 | €749,932 | €604,479 | -€145,453 | -19.4% |
| Contributions | 10/11 | €1,500,000 | €1,500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€750,068 | -€895,521 | -€145,453 | -19.4% |
| Amounts payable | 17/49 | €3,782,271 | €6,676,464 | +€2.9m | +76.5% |
| Amounts payable after more than one year | 17 | €3,766,686 | €6,407,907 | +€2.6m | +70.1% |
| Financial debts | 170/4 | €3,766,686 | €6,407,907 | +€2.6m | +70.1% |
| Amounts payable within one year | 42/48 | €15,585 | €268,557 | +€252,972 | +1,623% |
| Current portion of amounts payable after more than one year | 42 | - | €97,520 | +€97,520 | |
| Trade debts | 44 | €585 | €99,989 | +€99,404 | +16,987% |
| Suppliers | 440/4 | €585 | €99,989 | +€99,404 | +16,987% |
| Taxes, remuneration and social security | 45 | €15,000 | €15,000 | = | 0.0% |
| Remuneration and social security | 454/9 | €15,000 | €15,000 | = | 0.0% |
| Other amounts payable | 47/48 | €0 | €56,048 | +€56,048 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,002 | €2,718 | +€716 | +35.8% |
| Other operating charges | 640/8 | €5,405 | €3,839 | -€1,566 | -29.0% |
| Gross operating margin | 9900 | -€78,772 | -€101,864 | -€23,092 | -29.3% |
| Operating profit (loss) | 9901 | -€86,179 | -€108,421 | -€22,242 | -25.8% |
| Financial income | 75/76B | - | €13 | +€13 | |
| Recurring financial income | 75 | - | €13 | +€13 | |
| Financial charges | 65/66B | €4,120 | €36,846 | +€32,726 | +794% |
| Recurring financial charges | 65 | €4,120 | €36,846 | +€32,726 | +794% |
| Profit (loss) for the period before taxes | 9903 | -€90,299 | -€145,254 | -€54,956 | -60.9% |
| Income taxes | 67/77 | €199 | €199 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€90,497 | -€145,453 | -€54,956 | -60.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€90,497 | -€145,453 | -€54,956 | -60.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.