FEARLESS: 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.
FEARLESS
Largest movements
- Receivables within one year +€210,091
new in 2025: €210,091
- Deferred charges and accrued income -€99,825
no longer reported in 2025 (was €99,825)
- Tangible fixed assets -€52,240
down €52,240 (-5.5%), from €956,055 to €903,815
- Other debts +€75,983
up €75,983 (+9.9%), from €767,368 to €843,351
- Current portion of long-term debt -€20,000
no longer reported in 2025 (was €20,000)
- Other operating income +€210,091
new in 2025: €210,091
- Services and other goods +€101,317
up €101,317 (+701%), from €14,458 to €115,775
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 | €1,056,174 | €1,113,906 | +€57,732 | +5.5% |
| Fixed assets | 21/28 | €956,055 | €903,815 | -€52,240 | -5.5% |
| Tangible fixed assets | 22/27 | €956,055 | €903,815 | -€52,240 | -5.5% |
| Land and buildings | 22 | €956,055 | €903,815 | -€52,240 | -5.5% |
| Current assets | 29/58 | €100,119 | €210,091 | +€109,972 | +110% |
| Amounts receivable within one year | 40/41 | - | €210,091 | +€210,091 | |
| Trade receivables | 40 | - | €210,091 | +€210,091 | |
| Cash at bank and in hand | 54/58 | €294 | - | -€294 | |
| Deferred charges and accrued income | 490/1 | €99,825 | - | -€99,825 | |
| Total equity and liabilities | 10/49 | €1,056,174 | €1,113,906 | +€57,732 | +5.5% |
| Equity | 10/15 | €260,395 | €266,788 | +€6,393 | +2.5% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Revaluation surpluses | 12 | €65,444 | €65,444 | = | 0.0% |
| Reserves | 13 | €94,951 | €101,344 | +€6,393 | +6.7% |
| Distributable reserves | 133 | €94,951 | €101,344 | +€6,393 | +6.7% |
| Amounts payable | 17/49 | €795,779 | €847,118 | +€51,339 | +6.5% |
| Amounts payable within one year | 42/48 | €789,826 | €847,118 | +€57,293 | +7.3% |
| Current portion of amounts payable after more than one year | 42 | €20,000 | - | -€20,000 | |
| Trade debts | 44 | €2,458 | €3,768 | +€1,310 | +53.3% |
| Suppliers | 440/4 | €2,458 | €3,768 | +€1,310 | +53.3% |
| Other amounts payable | 47/48 | €767,368 | €843,351 | +€75,983 | +9.9% |
| Accrued charges and deferred income | 492/3 | €5,954 | - | -€5,954 | |
| Operating income | 70/76A | - | €210,091 | +€210,091 | |
| Other operating income | 74 | - | €210,091 | +€210,091 | |
| Operating charges | 60/66A | €100,531 | €202,910 | +€102,379 | +102% |
| Services and other goods | 61 | €14,458 | €115,775 | +€101,317 | +701% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,240 | €52,240 | = | 0.0% |
| Other operating charges | 640/8 | €33,833 | €34,895 | +€1,062 | +3.1% |
| Operating profit (loss) | 9901 | -€100,531 | €7,181 | +€107,712 | |
| Financial charges | 65/66B | €6,104 | €788 | -€5,316 | -87.1% |
| Recurring financial charges | 65 | €6,104 | €788 | -€5,316 | -87.1% |
| Debt charges | 650 | €6,104 | €788 | -€5,316 | -87.1% |
| Profit (loss) for the period before taxes | 9903 | -€106,635 | €6,393 | +€113,028 | |
| Profit (loss) for the period | 9904 | -€106,635 | €6,393 | +€113,028 | |
| Profit (loss) for the period to be appropriated | 9905 | -€106,635 | €6,393 | +€113,028 |
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 22 October 2026 via checked.be.