FAPA: what changed
FAPA
Largest movements
- Cash -€12,197
down €12,197 (-44.8%), from €27,246 to €15,050
mainly Net result for the year (-€21,544) and Tax, wage and social debts (-€4,459)
- Tangible fixed assets -€3,621
down €3,621 (-31.0%), from €11,670 to €8,049
of which Plant, machinery and equipment: -€2,130
- Stocks and contracts +€682
up €682 (+8.0%), from €8,568 to €9,250
- Profit (loss) carried forward -€21,544
down €21,544 (-120%), from -€17,989 to -€39,533
- Other debts +€5,929
up €5,929 (+154%), from €3,847 to €9,776
- Trade debts +€4,657
up €4,657 (+19.1%), from €24,431 to €29,087
- Tax, wage and social debts -€4,459
down €4,459 (-23.7%), from €18,783 to €14,324
of which Remuneration and social security: -€7,919
- Gross operating margin -€33,264
down €33,264 (-29.9%), from €111,289 to €78,026
- Staff costs +€8,787
up €8,787 (+10.5%), from €83,974 to €92,761
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €51,072 | €35,655 | -€15,417 | -30.2% |
| Fixed assets | 21/28 | €11,770 | €8,149 | -€3,621 | -30.8% |
| Tangible fixed assets | 22/27 | €11,670 | €8,049 | -€3,621 | -31.0% |
| Plant, machinery and equipment | 23 | €7,877 | €5,748 | -€2,130 | -27.0% |
| Other tangible fixed assets | 26 | €3,792 | €2,301 | -€1,491 | -39.3% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €39,302 | €27,506 | -€11,796 | -30.0% |
| Stocks and contracts in progress | 3 | €8,568 | €9,250 | +€682 | +8.0% |
| Stocks | 30/36 | €8,568 | €9,250 | +€682 | +8.0% |
| Amounts receivable within one year | 40/41 | €1,347 | €1,504 | +€158 | +11.7% |
| Trade receivables | 40 | €1,084 | €1,504 | +€421 | +38.8% |
| Other amounts receivable | 41 | €263 | €0 | -€263 | -100% |
| Cash at bank and in hand | 54/58 | €27,246 | €15,050 | -€12,197 | -44.8% |
| Deferred charges and accrued income | 490/1 | €2,141 | €1,702 | -€438 | -20.5% |
| Total equity and liabilities | 10/49 | €51,072 | €35,655 | -€15,417 | -30.2% |
| Equity | 10/15 | €4,011 | -€17,533 | -€21,544 | |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€17,989 | -€39,533 | -€21,544 | -120% |
| Amounts payable | 17/49 | €47,061 | €53,188 | +€6,127 | +13.0% |
| Amounts payable within one year | 42/48 | €47,061 | €53,188 | +€6,127 | +13.0% |
| Trade debts | 44 | €24,431 | €29,087 | +€4,657 | +19.1% |
| Suppliers | 440/4 | €24,431 | €29,087 | +€4,657 | +19.1% |
| Taxes, remuneration and social security | 45 | €18,783 | €14,324 | -€4,459 | -23.7% |
| Taxes | 450/3 | €3,293 | €6,753 | +€3,460 | +105% |
| Remuneration and social security | 454/9 | €15,490 | €7,571 | -€7,919 | -51.1% |
| Other amounts payable | 47/48 | €3,847 | €9,776 | +€5,929 | +154% |
| Remuneration, social security and pensions | 62 | €83,974 | €92,761 | +€8,787 | +10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,789 | €3,621 | -€168 | -4.4% |
| Other operating charges | 640/8 | €1,941 | €860 | -€1,081 | -55.7% |
| Gross operating margin | 9900 | €111,289 | €78,026 | -€33,264 | -29.9% |
| Operating profit (loss) | 9901 | €21,586 | -€19,217 | -€40,802 | |
| Financial income | 75/76B | €370 | €54 | -€316 | -85.3% |
| Recurring financial income | 75 | €370 | €54 | -€316 | -85.3% |
| Financial charges | 65/66B | €2,222 | €2,322 | +€100 | +4.5% |
| Recurring financial charges | 65 | €2,222 | €2,322 | +€100 | +4.5% |
| Profit (loss) for the period before taxes | 9903 | €19,734 | -€21,484 | -€41,218 | |
| Income taxes | 67/77 | €174 | €60 | -€115 | -65.7% |
| Profit (loss) for the period | 9904 | €19,560 | -€21,544 | -€41,103 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,560 | -€21,544 | -€41,103 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.