FAVES: what changed
Two fiscal 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.
FAVES
Largest movements
- Cash -€35,059
down €35,059 (-54.9%), from €63,819 to €28,760
mainly Receivables within one year (-€22,853) and Contributions, distributions and other (-€14,200)
- Tangible fixed assets -€25,957
down €25,957 (-33.0%), from €78,646 to €52,689
of which Furniture and vehicles: -€18,484
- Receivables within one year +€22,853
up €22,853, from €0 to €22,853
of which Trade receivables: +€19,088
- Deferred charges and accrued income +€3,484
up €3,484 (+145.9%), from €2,389 to €5,873
- Reserves -€24,194
down €24,194 (-21.9%), from €110,369 to €86,176
- Tax, wage and social debts -€4,083
down €4,083 (-45.8%), from €8,907 to €4,824
of which Taxes: -€4,083
- Other debts -€2,507
down €2,507 (-45.6%), from €5,495 to €2,989
- Trade debts -€2,446
down €2,446 (-76.4%), from €3,200 to €754
- Accrued charges and deferred income -€1,449
down €1,449 (-77.0%), from €1,881 to €432
- Financial income -€19,109
down €19,109 (-91.9%), from €20,785 to €1,676
- Gross operating margin -€18,214
down €18,214, from €17,363 to -€850
- Depreciation -€8,726
down €8,726 (-50.8%), from €17,175 to €8,449
- Financial charges +€591
up €591 (+71.4%), from €827 to €1,418
of which Non-recurring financial charges: +€758
- Taxes -€363
down €363 (-60.6%), from €598 to €236
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.
Cash bridge derived
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 | €144,853 | €110,174 | -€34,679 | -23.9% |
| Fixed assets | 21/28 | €78,646 | €52,689 | -€25,957 | -33.0% |
| Tangible fixed assets | 22/27 | €78,646 | €52,689 | -€25,957 | -33.0% |
| Plant, machinery and equipment | 23 | €5,420 | €4,243 | -€1,178 | -21.7% |
| Furniture and vehicles | 24 | €20,227 | €1,742 | -€18,484 | -91.4% |
| Other tangible fixed assets | 26 | €52,999 | €46,704 | -€6,295 | -11.9% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €66,207 | €57,485 | -€8,722 | -13.2% |
| Amounts receivable within one year | 40/41 | €0 | €22,853 | +€22,853 | |
| Trade receivables | 40 | €0 | €19,088 | +€19,088 | |
| Other amounts receivable | 41 | €0 | €3,764 | +€3,764 | |
| Cash at bank and in hand | 54/58 | €63,819 | €28,760 | -€35,059 | -54.9% |
| Deferred charges and accrued income | 490/1 | €2,389 | €5,873 | +€3,484 | +145.9% |
| Total equity and liabilities | 10/49 | €144,853 | €110,174 | -€34,679 | -23.9% |
| Equity | 10/15 | €125,369 | €101,176 | -€24,194 | -19.3% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €110,369 | €86,176 | -€24,194 | -21.9% |
| Distributable reserves | 133 | €110,369 | €86,176 | -€24,194 | -21.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €19,483 | €8,998 | -€10,485 | -53.8% |
| Amounts payable within one year | 42/48 | €17,602 | €8,566 | -€9,036 | -51.3% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €3,200 | €754 | -€2,446 | -76.4% |
| Suppliers | 440/4 | €3,200 | €754 | -€2,446 | -76.4% |
| Taxes, remuneration and social security | 45 | €8,907 | €4,824 | -€4,083 | -45.8% |
| Taxes | 450/3 | €8,907 | €4,824 | -€4,083 | -45.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €5,495 | €2,989 | -€2,507 | -45.6% |
| Accrued charges and deferred income | 492/3 | €1,881 | €432 | -€1,449 | -77.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,175 | €8,449 | -€8,726 | -50.8% |
| Other operating charges | 640/8 | €857 | €717 | -€139 | -16.3% |
| Gross operating margin | 9900 | €17,363 | -€850 | -€18,214 | |
| Operating profit (loss) | 9901 | -€668 | -€10,016 | -€9,348 | -1398.8% |
| Financial income | 75/76B | €20,785 | €1,676 | -€19,109 | -91.9% |
| Recurring financial income | 75 | €20,785 | €1,676 | -€19,109 | -91.9% |
| Financial charges | 65/66B | €827 | €1,418 | +€591 | +71.4% |
| Recurring financial charges | 65 | €827 | €660 | -€167 | -20.2% |
| Non-recurring financial charges | 66B | - | €758 | +€758 | |
| Profit (loss) for the period before taxes | 9903 | €19,290 | -€9,758 | -€29,048 | |
| Income taxes | 67/77 | €598 | €236 | -€363 | -60.6% |
| Profit (loss) for the period | 9904 | €18,692 | -€9,994 | -€28,685 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,692 | -€9,994 | -€28,685 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.