FAW: 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.
FAW
Largest movements
- Tangible fixed assets +€19,369
up €19,369 (+47.0%), from €41,232 to €60,601
- Cash +€18,929
up €18,929 (+13.7%), from €138,143 to €157,072
mainly Net result for the year (+€143,399) and Other debts (+€60,000)
- Stocks and contracts +€11,074
up €11,074 (+261.4%), from €4,236 to €15,310
- Receivables within one year +€3,519
up €3,519 (+16.0%), from €21,988 to €25,507
of which Trade receivables: +€11,444
- Deferred charges and accrued income +€2,934
new in 2025: €2,934
- Other debts +€60,000
up €60,000 (+100.0%), from €60,000 to €120,000
- Tax, wage and social debts +€39,922
up €39,922 (+94.0%), from €42,492 to €82,415
of which Taxes: +€51,021
- Reserves -€36,601
down €36,601 (-96.7%), from €37,869 to €1,268
- Trade debts -€4,793
down €4,793 (-19.8%), from €24,148 to €19,355
- Accrued charges and deferred income -€2,704
down €2,704 (-24.4%), from €11,089 to €8,385
- Gross operating margin +€183,557
up €183,557 (+55.2%), from €332,593 to €516,150
- Taxes +€48,072
up €48,072 (+778.0%), from €6,179 to €54,251
- Staff costs +€12,921
up €12,921 (+4.4%), from €291,308 to €304,229
- Depreciation +€5,550
up €5,550 (+69.8%), from €7,953 to €13,503
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 | €205,599 | €261,423 | +€55,824 | +27.2% |
| Fixed assets | 21/28 | €41,232 | €60,601 | +€19,369 | +47.0% |
| Tangible fixed assets | 22/27 | €41,232 | €60,601 | +€19,369 | +47.0% |
| Plant, machinery and equipment | 23 | €41,232 | €60,601 | +€19,369 | +47.0% |
| Current assets | 29/58 | €164,367 | €200,822 | +€36,455 | +22.2% |
| Stocks and contracts in progress | 3 | €4,236 | €15,310 | +€11,074 | +261.4% |
| Stocks | 30/36 | €4,236 | €15,310 | +€11,074 | +261.4% |
| Amounts receivable within one year | 40/41 | €21,988 | €25,507 | +€3,519 | +16.0% |
| Trade receivables | 40 | €10,818 | €22,262 | +€11,444 | +105.8% |
| Other amounts receivable | 41 | €11,170 | €3,245 | -€7,925 | -71.0% |
| Cash at bank and in hand | 54/58 | €138,143 | €157,072 | +€18,929 | +13.7% |
| Deferred charges and accrued income | 490/1 | - | €2,934 | +€2,934 | |
| Total equity and liabilities | 10/49 | €205,599 | €261,423 | +€55,824 | +27.2% |
| Equity | 10/15 | €67,869 | €31,268 | -€36,601 | -53.9% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €37,869 | €1,268 | -€36,601 | -96.7% |
| Distributable reserves | 133 | €37,869 | €1,268 | -€36,601 | -96.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €137,730 | €230,155 | +€92,425 | +67.1% |
| Amounts payable within one year | 42/48 | €126,640 | €221,769 | +€95,129 | +75.1% |
| Trade debts | 44 | €24,148 | €19,355 | -€4,793 | -19.8% |
| Suppliers | 440/4 | €24,148 | €19,355 | -€4,793 | -19.8% |
| Taxes, remuneration and social security | 45 | €42,492 | €82,415 | +€39,922 | +94.0% |
| Taxes | 450/3 | €3,412 | €54,434 | +€51,021 | +1495.2% |
| Remuneration and social security | 454/9 | €39,080 | €27,981 | -€11,099 | -28.4% |
| Other amounts payable | 47/48 | €60,000 | €120,000 | +€60,000 | +100.0% |
| Accrued charges and deferred income | 492/3 | €11,089 | €8,385 | -€2,704 | -24.4% |
| Remuneration, social security and pensions | 62 | €291,308 | €304,229 | +€12,921 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,953 | €13,503 | +€5,550 | +69.8% |
| Other operating charges | 640/8 | €510 | €521 | +€11 | +2.2% |
| Gross operating margin | 9900 | €332,593 | €516,150 | +€183,557 | +55.2% |
| Operating profit (loss) | 9901 | €32,823 | €197,897 | +€165,075 | +502.9% |
| Financial charges | 65/66B | €169 | €247 | +€78 | +46.2% |
| Recurring financial charges | 65 | €169 | €247 | +€78 | +46.2% |
| Profit (loss) for the period before taxes | 9903 | €32,653 | €197,650 | +€164,996 | +505.3% |
| Income taxes | 67/77 | €6,179 | €54,251 | +€48,072 | +778.0% |
| Profit (loss) for the period | 9904 | €26,475 | €143,399 | +€116,924 | +441.6% |
| Profit (loss) for the period to be appropriated | 9905 | €26,475 | €143,399 | +€116,924 | +441.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.