MA FAçON: 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.
MA FAçON
Largest movements
- Tangible fixed assets +€17,121
up €17,121 (+10.8%), from €157,855 to €174,976
of which Furniture and vehicles: +€15,055
- Receivables within one year +€14,369
up €14,369 (+74.2%), from €19,359 to €33,728
of which Trade receivables: +€10,132
- Cash -€11,599
down €11,599 (-32.8%), from €35,400 to €23,801
mainly Trade debts (-€93,107) and Investment in fixed assets (net) (-€43,721)
- Trade debts -€93,107
down €93,107 (-78.4%), from €118,787 to €25,680
- Debts after one year +€73,776
up €73,776 (+485%), from €15,210 to €88,986
- Current portion of long-term debt +€27,084
up €27,084 (+503%), from €5,379 to €32,463
- Reserves +€15,606
up €15,606 (+13.9%), from €112,281 to €127,887
- Tax, wage and social debts -€5,609
down €5,609 (-27.1%), from €20,719 to €15,111
of which Taxes: -€5,232
- Gross operating margin +€20,174
up €20,174 (+39.2%), from €51,408 to €71,582
- Depreciation +€14,515
up €14,515 (+120%), from €12,086 to €26,601
- Financial charges +€4,110
up €4,110 (+134%), from €3,061 to €7,171
- Staff costs +€2,246
up €2,246 (+13.3%), from €16,869 to €19,115
- Taxes +€1,733
up €1,733 (+27.6%), from €6,281 to €8,014
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 | €321,274 | €343,056 | +€21,782 | +6.8% |
| Fixed assets | 21/28 | €157,855 | €174,976 | +€17,121 | +10.8% |
| Tangible fixed assets | 22/27 | €157,855 | €174,976 | +€17,121 | +10.8% |
| Plant, machinery and equipment | 23 | €23,781 | €23,057 | -€724 | -3.0% |
| Furniture and vehicles | 24 | €3,986 | €19,041 | +€15,055 | +378% |
| Other tangible fixed assets | 26 | €130,089 | €132,878 | +€2,790 | +2.1% |
| Current assets | 29/58 | €163,419 | €168,080 | +€4,661 | +2.9% |
| Amounts receivable after more than one year | 29 | €100,000 | €100,000 | = | 0.0% |
| Other amounts receivable | 291 | €100,000 | €100,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €5,031 | €6,790 | +€1,758 | +34.9% |
| Stocks | 30/36 | €5,031 | €6,790 | +€1,758 | +34.9% |
| Amounts receivable within one year | 40/41 | €19,359 | €33,728 | +€14,369 | +74.2% |
| Trade receivables | 40 | €2,625 | €12,757 | +€10,132 | +386% |
| Other amounts receivable | 41 | €16,734 | €20,971 | +€4,236 | +25.3% |
| Cash at bank and in hand | 54/58 | €35,400 | €23,801 | -€11,599 | -32.8% |
| Deferred charges and accrued income | 490/1 | €3,629 | €3,762 | +€133 | +3.7% |
| Total equity and liabilities | 10/49 | €321,274 | €343,056 | +€21,782 | +6.8% |
| Equity | 10/15 | €145,881 | €161,487 | +€15,606 | +10.7% |
| Contributions | 10/11 | €33,600 | €33,600 | = | 0.0% |
| Reserves | 13 | €112,281 | €127,887 | +€15,606 | +13.9% |
| Distributable reserves | 133 | €112,281 | €127,887 | +€15,606 | +13.9% |
| Amounts payable | 17/49 | €175,393 | €181,569 | +€6,176 | +3.5% |
| Amounts payable after more than one year | 17 | €15,210 | €88,986 | +€73,776 | +485% |
| Financial debts | 170/4 | €15,210 | €88,986 | +€73,776 | +485% |
| Amounts payable within one year | 42/48 | €156,086 | €87,380 | -€68,706 | -44.0% |
| Current portion of amounts payable after more than one year | 42 | €5,379 | €32,463 | +€27,084 | +503% |
| Financial debts | 43 | - | €2,248 | +€2,248 | |
| Credit institutions | 430/8 | - | €2,248 | +€2,248 | |
| Trade debts | 44 | €118,787 | €25,680 | -€93,107 | -78.4% |
| Suppliers | 440/4 | €118,787 | €25,680 | -€93,107 | -78.4% |
| Taxes, remuneration and social security | 45 | €20,719 | €15,111 | -€5,609 | -27.1% |
| Taxes | 450/3 | €16,814 | €11,582 | -€5,232 | -31.1% |
| Remuneration and social security | 454/9 | €3,905 | €3,529 | -€376 | -9.6% |
| Other amounts payable | 47/48 | €11,201 | €11,879 | +€678 | +6.1% |
| Accrued charges and deferred income | 492/3 | €4,097 | €5,202 | +€1,106 | +27.0% |
| Non-recurring operating income | 76A | - | €7,861 | +€7,861 | |
| Remuneration, social security and pensions | 62 | €16,869 | €19,115 | +€2,246 | +13.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,086 | €26,601 | +€14,515 | +120% |
| Other operating charges | 640/8 | €2,298 | €2,409 | +€111 | +4.8% |
| Gross operating margin | 9900 | €51,408 | €71,582 | +€20,174 | +39.2% |
| Operating profit (loss) | 9901 | €20,156 | €23,458 | +€3,302 | +16.4% |
| Financial income | 75/76B | €7,339 | €7,333 | -€6 | -0.1% |
| Recurring financial income | 75 | €7,339 | €7,333 | -€6 | -0.1% |
| Financial charges | 65/66B | €3,061 | €7,171 | +€4,110 | +134% |
| Recurring financial charges | 65 | €3,061 | €7,171 | +€4,110 | +134% |
| Profit (loss) for the period before taxes | 9903 | €24,434 | €23,620 | -€814 | -3.3% |
| Income taxes | 67/77 | €6,281 | €8,014 | +€1,733 | +27.6% |
| Profit (loss) for the period | 9904 | €18,153 | €15,606 | -€2,546 | -14.0% |
| Profit (loss) for the period to be appropriated | 9905 | €18,153 | €15,606 | -€2,546 | -14.0% |
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 30 October 2026 via checked.be.