FAVEO: 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.
FAVEO
Largest movements
- Cash +€42,485
up €42,485 (+284%), from €14,984 to €57,468
mainly Depreciation (+€27,890) and Net result for the year (+€18,512)
- Tangible fixed assets -€22,941
down €22,941 (-10.6%), from €215,689 to €192,748
- Receivables within one year -€4,995
down €4,995 (-2.9%), from €170,477 to €165,481
of which Other amounts receivable: -€15,514
- Trade debts -€21,497
down €21,497 (-76.6%), from €28,072 to €6,575
- Reserves +€18,512
up €18,512 (+6.7%), from €274,608 to €293,120
- Other debts +€11,367
up €11,367 (+49.0%), from €23,177 to €34,544
- Gross operating margin -€22,420
down €22,420 (-26.5%), from €84,574 to €62,155
- Financial charges -€11,059
down €11,059 (-99.4%), from €11,126 to €68
of which Non-recurring financial charges: -€10,915
- Depreciation -€4,402
down €4,402 (-13.6%), from €32,292 to €27,890
- Staff costs -€3,173
down €3,173 (-100%), from €3,173 to €0
- Financial income +€1,691
up €1,691 (+73.1%), from €2,312 to €4,002
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 | €415,451 | €426,266 | +€10,815 | +2.6% |
| Fixed assets | 21/28 | €217,085 | €192,748 | -€24,337 | -11.2% |
| Intangible fixed assets | 21 | €1,396 | €0 | -€1,396 | -100% |
| Tangible fixed assets | 22/27 | €215,689 | €192,748 | -€22,941 | -10.6% |
| Plant, machinery and equipment | 23 | €7,244 | €4,706 | -€2,538 | -35.0% |
| Furniture and vehicles | 24 | €7,126 | €3,931 | -€3,195 | -44.8% |
| Leasing and similar rights | 25 | €64,310 | €58,349 | -€5,961 | -9.3% |
| Other tangible fixed assets | 26 | €137,009 | €125,762 | -€11,247 | -8.2% |
| Current assets | 29/58 | €198,366 | €233,517 | +€35,152 | +17.7% |
| Stocks and contracts in progress | 3 | €3,520 | €2,430 | -€1,090 | -31.0% |
| Stocks | 30/36 | €3,520 | €2,430 | -€1,090 | -31.0% |
| Amounts receivable within one year | 40/41 | €170,477 | €165,481 | -€4,995 | -2.9% |
| Trade receivables | 40 | €87,926 | €98,445 | +€10,519 | +12.0% |
| Other amounts receivable | 41 | €82,550 | €67,036 | -€15,514 | -18.8% |
| Cash at bank and in hand | 54/58 | €14,984 | €57,468 | +€42,485 | +284% |
| Deferred charges and accrued income | 490/1 | €9,386 | €8,138 | -€1,248 | -13.3% |
| Total equity and liabilities | 10/49 | €415,451 | €426,266 | +€10,815 | +2.6% |
| Equity | 10/15 | €324,608 | €343,120 | +€18,512 | +5.7% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €274,608 | €293,120 | +€18,512 | +6.7% |
| Distributable reserves | 133 | €274,608 | €293,120 | +€18,512 | +6.7% |
| Amounts payable | 17/49 | €90,843 | €83,145 | -€7,697 | -8.5% |
| Amounts payable within one year | 42/48 | €89,258 | €81,561 | -€7,697 | -8.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €28,072 | €6,575 | -€21,497 | -76.6% |
| Suppliers | 440/4 | €28,072 | €6,575 | -€21,497 | -76.6% |
| Taxes, remuneration and social security | 45 | €38,009 | €40,442 | +€2,432 | +6.4% |
| Taxes | 450/3 | €38,009 | €40,442 | +€2,432 | +6.4% |
| Other amounts payable | 47/48 | €23,177 | €34,544 | +€11,367 | +49.0% |
| Accrued charges and deferred income | 492/3 | €1,584 | €1,584 | = | 0.0% |
| Non-recurring operating income | 76A | €2,118 | €0 | -€2,118 | -100% |
| Remuneration, social security and pensions | 62 | €3,173 | €0 | -€3,173 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,292 | €27,890 | -€4,402 | -13.6% |
| Other operating charges | 640/8 | €7,636 | €8,905 | +€1,269 | +16.6% |
| Gross operating margin | 9900 | €84,574 | €62,155 | -€22,420 | -26.5% |
| Operating profit (loss) | 9901 | €41,473 | €25,360 | -€16,113 | -38.9% |
| Financial income | 75/76B | €2,312 | €4,002 | +€1,691 | +73.1% |
| Recurring financial income | 75 | €2,312 | €4,002 | +€1,691 | +73.1% |
| Financial charges | 65/66B | €11,126 | €68 | -€11,059 | -99.4% |
| Recurring financial charges | 65 | €211 | €68 | -€143 | -67.9% |
| Non-recurring financial charges | 66B | €10,915 | €0 | -€10,915 | -100% |
| Profit (loss) for the period before taxes | 9903 | €32,659 | €29,295 | -€3,364 | -10.3% |
| Income taxes | 67/77 | €11,685 | €10,783 | -€902 | -7.7% |
| Profit (loss) for the period | 9904 | €20,974 | €18,512 | -€2,462 | -11.7% |
| Profit (loss) for the period to be appropriated | 9905 | €20,974 | €18,512 | -€2,462 | -11.7% |
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 19 October 2026 via checked.be.