FADEVO: 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.
FADEVO
Largest movements
- Tangible fixed assets +€307,941
up €307,941 (+7,167%), from €4,296 to €312,238
of which Land and buildings: +€266,602
- Cash +€87,994
up €87,994 (+292%), from €30,087 to €118,080
mainly Debts after one year (+€146,545) and Other debts (+€139,623)
- Current investments -€38,000
down €38,000 (-74.5%), from €51,000 to €13,000
- Receivables within one year -€14,876
down €14,876 (-30.6%), from €48,580 to €33,703
of which Trade receivables: -€13,811
- Debts after one year +€146,545
new in 2025: €146,545
- Other debts +€139,623
up €139,623 (+10,138%), from €1,377 to €141,000
- Reserves +€38,887
up €38,887 (+32.8%), from €118,489 to €157,375
- Current portion of long-term debt +€17,899
new in 2025: €17,899
- Gross operating margin +€16,675
up €16,675 (+35.2%), from €47,438 to €64,113
- Depreciation +€5,382
up €5,382 (+150%), from €3,594 to €8,976
- Financial charges +€5,009
up €5,009 (+3,368%), from €149 to €5,158
- Taxes -€1,858
down €1,858 (-14.0%), from €13,278 to €11,420
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 | €137,397 | €480,420 | +€343,022 | +250% |
| Fixed assets | 21/28 | €4,296 | €312,238 | +€307,941 | +7,167% |
| Tangible fixed assets | 22/27 | €4,296 | €312,238 | +€307,941 | +7,167% |
| Land and buildings | 22 | - | €266,602 | +€266,602 | |
| Plant, machinery and equipment | 23 | €1,326 | €831 | -€495 | -37.4% |
| Furniture and vehicles | 24 | €2,970 | €44,805 | +€41,835 | +1,408% |
| Current assets | 29/58 | €133,101 | €168,182 | +€35,081 | +26.4% |
| Amounts receivable after more than one year | 29 | €1,944 | €0 | -€1,944 | -100% |
| Other amounts receivable | 291 | €1,944 | €0 | -€1,944 | -100% |
| Amounts receivable within one year | 40/41 | €48,580 | €33,703 | -€14,876 | -30.6% |
| Trade receivables | 40 | €29,402 | €15,591 | -€13,811 | -47.0% |
| Other amounts receivable | 41 | €19,178 | €18,113 | -€1,065 | -5.6% |
| Current investments | 50/53 | €51,000 | €13,000 | -€38,000 | -74.5% |
| Cash at bank and in hand | 54/58 | €30,087 | €118,080 | +€87,994 | +292% |
| Deferred charges and accrued income | 490/1 | €1,490 | €3,398 | +€1,908 | +128% |
| Total equity and liabilities | 10/49 | €137,397 | €480,420 | +€343,022 | +250% |
| Equity | 10/15 | €121,489 | €160,375 | +€38,887 | +32.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €118,489 | €157,375 | +€38,887 | +32.8% |
| Distributable reserves | 133 | €118,489 | €157,375 | +€38,887 | +32.8% |
| Amounts payable | 17/49 | €15,909 | €320,045 | +€304,136 | +1,912% |
| Amounts payable after more than one year | 17 | - | €146,545 | +€146,545 | |
| Financial debts | 170/4 | - | €146,545 | +€146,545 | |
| Amounts payable within one year | 42/48 | €15,909 | €173,500 | +€157,591 | +991% |
| Current portion of amounts payable after more than one year | 42 | - | €17,899 | +€17,899 | |
| Trade debts | 44 | €176 | €1,766 | +€1,590 | +903% |
| Suppliers | 440/4 | €176 | €1,766 | +€1,590 | +903% |
| Taxes, remuneration and social security | 45 | €14,356 | €12,835 | -€1,521 | -10.6% |
| Taxes | 450/3 | €14,356 | €12,094 | -€2,262 | -15.8% |
| Remuneration and social security | 454/9 | - | €741 | +€741 | |
| Other amounts payable | 47/48 | €1,377 | €141,000 | +€139,623 | +10,138% |
| Non-recurring operating income | 76A | - | €21,500 | +€21,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,594 | €8,976 | +€5,382 | +150% |
| Other operating charges | 640/8 | €1,627 | €2,004 | +€377 | +23.2% |
| Gross operating margin | 9900 | €47,438 | €64,113 | +€16,675 | +35.2% |
| Operating profit (loss) | 9901 | €42,217 | €53,133 | +€10,916 | +25.9% |
| Financial income | 75/76B | €1,765 | €2,331 | +€566 | +32.0% |
| Recurring financial income | 75 | €1,765 | €2,331 | +€566 | +32.0% |
| Financial charges | 65/66B | €149 | €5,158 | +€5,009 | +3,368% |
| Recurring financial charges | 65 | €149 | €5,158 | +€5,009 | +3,368% |
| Profit (loss) for the period before taxes | 9903 | €43,834 | €50,306 | +€6,472 | +14.8% |
| Income taxes | 67/77 | €13,278 | €11,420 | -€1,858 | -14.0% |
| Profit (loss) for the period | 9904 | €30,556 | €38,887 | +€8,331 | +27.3% |
| Profit (loss) for the period to be appropriated | 9905 | €30,556 | €38,887 | +€8,331 | +27.3% |
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 21 October 2026 via checked.be.