FOFAN: 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.
FOFAN
Largest movements
- Receivables within one year -€257,102
down €257,102 (-39.4%), from €653,165 to €396,063
of which Trade receivables: -€525,947
- Stocks and contracts -€202,051
down €202,051 (-26.2%), from €770,051 to €568,000
- Cash -€92,328
down €92,328 (-88.0%), from €104,905 to €12,577
mainly Net result for the year (-€213,832) and Trade debts (-€176,657)
- Tangible fixed assets -€23,756
down €23,756 (-18.6%), from €127,866 to €104,110
of which Furniture and vehicles: -€22,261
- Deferred charges and accrued income -€20,936
down €20,936 (-72.3%), from €28,940 to €8,004
- Reserves -€213,832
down €213,832 (-31.4%), from €680,794 to €466,962
- Trade debts -€176,657
down €176,657 (-31.2%), from €566,528 to €389,871
- Tax, wage and social debts -€169,778
down €169,778 (-73.7%), from €230,244 to €60,466
of which Taxes: -€164,272
- Advances received -€58,786
no longer reported in 2024 (was €58,786)
- Other debts +€40,000
up €40,000 (+36985.5%), from €108 to €40,108
- Staff costs +€154,847
up €154,847 (+26.8%), from €578,524 to €733,371
- Gross operating margin -€68,372
down €68,372 (-10.3%), from €664,229 to €595,857
- Other operating charges +€11,822
up €11,822 (+110.9%), from €10,663 to €22,485
- Financial charges -€9,124
down €9,124 (-37.2%), from €24,544 to €15,420
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,898,928 | €1,302,754 | -€596,174 | -31.4% |
| Fixed assets | 21/28 | €128,866 | €105,110 | -€23,756 | -18.4% |
| Tangible fixed assets | 22/27 | €127,866 | €104,110 | -€23,756 | -18.6% |
| Land and buildings | 22 | €6,662 | €3,913 | -€2,749 | -41.3% |
| Plant, machinery and equipment | 23 | €5,601 | €14,921 | +€9,320 | +166.4% |
| Furniture and vehicles | 24 | €60,054 | €37,793 | -€22,261 | -37.1% |
| Other tangible fixed assets | 26 | €55,549 | €47,483 | -€8,066 | -14.5% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €1,770,061 | €1,197,644 | -€572,417 | -32.3% |
| Amounts receivable after more than one year | 29 | €213,000 | €213,000 | = | 0.0% |
| Other amounts receivable | 291 | €213,000 | €213,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €770,051 | €568,000 | -€202,051 | -26.2% |
| Stocks | 30/36 | €770,051 | €568,000 | -€202,051 | -26.2% |
| Amounts receivable within one year | 40/41 | €653,165 | €396,063 | -€257,102 | -39.4% |
| Trade receivables | 40 | €631,469 | €105,522 | -€525,947 | -83.3% |
| Other amounts receivable | 41 | €21,696 | €290,541 | +€268,845 | +1239.1% |
| Cash at bank and in hand | 54/58 | €104,905 | €12,577 | -€92,328 | -88.0% |
| Deferred charges and accrued income | 490/1 | €28,940 | €8,004 | -€20,936 | -72.3% |
| Total equity and liabilities | 10/49 | €1,898,928 | €1,302,754 | -€596,174 | -31.4% |
| Equity | 10/15 | €699,394 | €485,562 | -€213,832 | -30.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €680,794 | €466,962 | -€213,832 | -31.4% |
| Distributable reserves | 133 | €680,794 | €466,962 | -€213,832 | -31.4% |
| Amounts payable | 17/49 | €1,199,533 | €817,192 | -€382,341 | -31.9% |
| Amounts payable after more than one year | 17 | €26,747 | €19,279 | -€7,468 | -27.9% |
| Financial debts | 170/4 | €26,747 | €19,279 | -€7,468 | -27.9% |
| Amounts payable within one year | 42/48 | €1,164,804 | €797,913 | -€366,891 | -31.5% |
| Current portion of amounts payable after more than one year | 42 | €9,138 | €7,468 | -€1,670 | -18.3% |
| Financial debts | 43 | €300,000 | €300,000 | = | 0.0% |
| Credit institutions | 430/8 | €300,000 | €300,000 | = | 0.0% |
| Trade debts | 44 | €566,528 | €389,871 | -€176,657 | -31.2% |
| Suppliers | 440/4 | €566,528 | €389,871 | -€176,657 | -31.2% |
| Advances received on contracts in progress | 46 | €58,786 | - | -€58,786 | |
| Taxes, remuneration and social security | 45 | €230,244 | €60,466 | -€169,778 | -73.7% |
| Taxes | 450/3 | €210,803 | €46,531 | -€164,272 | -77.9% |
| Remuneration and social security | 454/9 | €19,441 | €13,935 | -€5,506 | -28.3% |
| Other amounts payable | 47/48 | €108 | €40,108 | +€40,000 | +36985.5% |
| Accrued charges and deferred income | 492/3 | €7,982 | - | -€7,982 | |
| Non-recurring operating income | 76A | €58,440 | - | -€58,440 | |
| Remuneration, social security and pensions | 62 | €578,524 | €733,371 | +€154,847 | +26.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,906 | €41,009 | +€4,103 | +11.1% |
| Other operating charges | 640/8 | €10,663 | €22,485 | +€11,822 | +110.9% |
| Gross operating margin | 9900 | €664,229 | €595,857 | -€68,372 | -10.3% |
| Operating profit (loss) | 9901 | €38,136 | -€201,008 | -€239,144 | |
| Financial income | 75/76B | €5,746 | €4,596 | -€1,150 | -20.0% |
| Recurring financial income | 75 | €5,746 | €4,596 | -€1,150 | -20.0% |
| Financial charges | 65/66B | €24,544 | €15,420 | -€9,124 | -37.2% |
| Recurring financial charges | 65 | €24,544 | €15,420 | -€9,124 | -37.2% |
| Profit (loss) for the period before taxes | 9903 | €19,339 | -€211,832 | -€231,171 | |
| Income taxes | 67/77 | €6,669 | €2,000 | -€4,669 | -70.0% |
| Profit (loss) for the period | 9904 | €12,670 | -€213,832 | -€226,502 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,670 | -€213,832 | -€226,502 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.