FAVHOY: 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.
FAVHOY
Largest movements
- Tangible fixed assets +€1.4m
up €1.4m (+8.1%), from €17.8m to €19.2m
of which Assets under construction and advance payments: +€1.4m
- Contributions +€1.5m
up €1.5m (+8.8%), from €17.1m to €18.6m
- Other debts -€289,034
down €289,034 (-53.6%), from €539,268 to €250,234
- Gross operating margin +€55,738
up €55,738 (+82.3%), from €67,732 to €123,470
- Financial charges -€9,433
down €9,433 (-33.8%), from €27,939 to €18,507
- Other operating charges +€7,402
up €7,402 (+53.2%), from €13,918 to €21,320
- Taxes -€7,330
down €7,330 (-56.1%), from €13,065 to €5,735
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 | €18,112,624 | €19,369,444 | +€1.3m | +6.9% |
| Fixed assets | 21/28 | €17,760,850 | €19,192,539 | +€1.4m | +8.1% |
| Tangible fixed assets | 22/27 | €17,760,850 | €19,192,539 | +€1.4m | +8.1% |
| Land and buildings | 22 | €16,454,588 | €16,467,029 | +€12,440 | +0.1% |
| Plant, machinery and equipment | 23 | €474,878 | €538,080 | +€63,202 | +13.3% |
| Furniture and vehicles | 24 | €6,627 | €4,849 | -€1,779 | -26.8% |
| Assets under construction and advance payments | 27 | €824,756 | €2,182,582 | +€1.4m | +165% |
| Current assets | 29/58 | €351,773 | €176,905 | -€174,869 | -49.7% |
| Cash at bank and in hand | 54/58 | €341,114 | €166,302 | -€174,812 | -51.2% |
| Deferred charges and accrued income | 490/1 | €10,659 | €10,603 | -€56 | -0.5% |
| Total equity and liabilities | 10/49 | €18,112,624 | €19,369,444 | +€1.3m | +6.9% |
| Equity | 10/15 | €17,566,813 | €19,112,690 | +€1.5m | +8.8% |
| Contributions | 10/11 | €17,063,949 | €18,563,949 | +€1.5m | +8.8% |
| Reserves | 13 | €580,071 | €580,071 | = | 0.0% |
| Tax-exempt reserves | 132 | €117,821 | €117,821 | = | 0.0% |
| Distributable reserves | 133 | €462,251 | €462,251 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€77,207 | -€31,330 | +€45,877 | +59.4% |
| Amounts payable | 17/49 | €545,811 | €256,754 | -€289,056 | -53.0% |
| Amounts payable within one year | 42/48 | €545,811 | €256,754 | -€289,056 | -53.0% |
| Trade debts | 44 | €6,543 | €6,521 | -€22 | -0.3% |
| Suppliers | 440/4 | €6,543 | €6,521 | -€22 | -0.3% |
| Other amounts payable | 47/48 | €539,268 | €250,234 | -€289,034 | -53.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,755 | €32,031 | +€276 | +0.9% |
| Other operating charges | 640/8 | €13,918 | €21,320 | +€7,402 | +53.2% |
| Gross operating margin | 9900 | €67,732 | €123,470 | +€55,738 | +82.3% |
| Operating profit (loss) | 9901 | €22,059 | €70,119 | +€48,060 | +218% |
| Financial income | 75/76B | €1 | €0 | -€1 | -99.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -99.0% |
| Financial charges | 65/66B | €27,939 | €18,507 | -€9,433 | -33.8% |
| Recurring financial charges | 65 | €27,939 | €18,507 | -€9,433 | -33.8% |
| Profit (loss) for the period before taxes | 9903 | -€5,879 | €51,612 | +€57,491 | |
| Income taxes | 67/77 | €13,065 | €5,735 | -€7,330 | -56.1% |
| Profit (loss) for the period | 9904 | -€18,944 | €45,877 | +€64,821 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,944 | €45,877 | +€64,821 |
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 14 October 2026 via checked.be.