FAYE: 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.
FAYE
Largest movements
- Stocks and contracts -€805,739
no longer reported in 2026 (was €805,739)
- Tangible fixed assets +€765,356
up €765,356 (+64.9%), from €1.2m to €1.9m
of which Other tangible fixed assets: +€744,411
- Receivables within one year +€151,695
up €151,695 (+484.2%), from €31,331 to €183,026
- Cash +€119,051
up €119,051 (+239.4%), from €49,722 to €168,773
mainly Stocks and contracts (+€805,739) and Depreciation (+€376,546)
- Profit (loss) carried forward -€461,417
down €461,417 (-62.9%), from €733,226 to €271,809
- Tax, wage and social debts +€314,997
up €314,997 (+69.0%), from €456,365 to €771,362
of which Taxes: +€207,303
- Trade debts +€305,513
up €305,513 (+230.6%), from €132,512 to €438,025
- Other debts +€105,792
up €105,792 (+16.4%), from €644,091 to €749,883
- Accrued charges and deferred income -€32,886
no longer reported in 2026 (was €32,886)
- Staff costs +€328,511
up €328,511 (+31.4%), from €1.0m to €1.4m
- Depreciation +€290,474
up €290,474 (+337.5%), from €86,072 to €376,546
- Gross operating margin -€171,464
down €171,464 (-7.0%), from €2.4m to €2.3m
- Taxes -€148,590
down €148,590 (-51.6%), from €287,875 to €139,285
- Financial income +€32,011
new in 2026: €32,011
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,066,730 | €2,298,729 | +€231,999 | +11.2% |
| Fixed assets | 21/28 | €1,179,024 | €1,944,380 | +€765,356 | +64.9% |
| Tangible fixed assets | 22/27 | €1,178,899 | €1,944,255 | +€765,356 | +64.9% |
| Plant, machinery and equipment | 23 | €2,397 | €23,342 | +€20,945 | +873.8% |
| Other tangible fixed assets | 26 | €1,176,502 | €1,920,913 | +€744,411 | +63.3% |
| Financial fixed assets | 28 | €125 | €125 | = | 0.0% |
| Current assets | 29/58 | €887,706 | €354,349 | -€533,357 | -60.1% |
| Amounts receivable after more than one year | 29 | €914 | €1,277 | +€363 | +39.7% |
| Other amounts receivable | 291 | €914 | €1,277 | +€363 | +39.7% |
| Stocks and contracts in progress | 3 | €805,739 | - | -€805,739 | |
| Stocks | 30/36 | €805,739 | - | -€805,739 | |
| Amounts receivable within one year | 40/41 | €31,331 | €183,026 | +€151,695 | +484.2% |
| Other amounts receivable | 41 | €31,331 | €183,026 | +€151,695 | +484.2% |
| Cash at bank and in hand | 54/58 | €49,722 | €168,773 | +€119,051 | +239.4% |
| Deferred charges and accrued income | 490/1 | - | €1,273 | +€1,273 | |
| Total equity and liabilities | 10/49 | €2,066,730 | €2,298,729 | +€231,999 | +11.2% |
| Equity | 10/15 | €800,876 | €339,459 | -€461,417 | -57.6% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €733,226 | €271,809 | -€461,417 | -62.9% |
| Amounts payable | 17/49 | €1,265,854 | €1,959,270 | +€693,416 | +54.8% |
| Amounts payable within one year | 42/48 | €1,232,968 | €1,959,270 | +€726,302 | +58.9% |
| Trade debts | 44 | €132,512 | €438,025 | +€305,513 | +230.6% |
| Suppliers | 440/4 | €132,512 | €438,025 | +€305,513 | +230.6% |
| Taxes, remuneration and social security | 45 | €456,365 | €771,362 | +€314,997 | +69.0% |
| Taxes | 450/3 | €349,842 | €557,145 | +€207,303 | +59.3% |
| Remuneration and social security | 454/9 | €106,523 | €214,217 | +€107,694 | +101.1% |
| Other amounts payable | 47/48 | €644,091 | €749,883 | +€105,792 | +16.4% |
| Accrued charges and deferred income | 492/3 | €32,886 | - | -€32,886 | |
| Remuneration, social security and pensions | 62 | €1,045,107 | €1,373,618 | +€328,511 | +31.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,072 | €376,546 | +€290,474 | +337.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,345 | - | -€1,345 | |
| Other operating charges | 640/8 | €77,268 | €95,523 | +€18,255 | +23.6% |
| Non-recurring operating charges | 66A | €4,041 | €31,331 | +€27,290 | +675.3% |
| Gross operating margin | 9900 | €2,436,231 | €2,264,767 | -€171,464 | -7.0% |
| Operating profit (loss) | 9901 | €1,222,398 | €387,749 | -€834,649 | -68.3% |
| Financial income | 75/76B | - | €32,011 | +€32,011 | |
| Recurring financial income | 75 | - | €32,011 | +€32,011 | |
| Financial charges | 65/66B | €9,030 | €8,666 | -€364 | -4.0% |
| Recurring financial charges | 65 | €9,030 | €8,666 | -€364 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | €1,213,368 | €411,094 | -€802,274 | -66.1% |
| Income taxes | 67/77 | €287,875 | €139,285 | -€148,590 | -51.6% |
| Profit (loss) for the period | 9904 | €925,493 | €271,809 | -€653,684 | -70.6% |
| Profit (loss) for the period to be appropriated | 9905 | €925,493 | €271,809 | -€653,684 | -70.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.