2FD: 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.
2FD
Largest movements
- Cash -€21,831
down €21,831 (-57.4%), from €38,027 to €16,196
mainly Investment in fixed assets (net) (-€61,794) and Net result for the year (-€42,572)
- Tangible fixed assets -€21,333
down €21,333 (-5.6%), from €381,881 to €360,549
of which Other tangible fixed assets: -€13,040
- Receivables within one year -€9,216
down €9,216 (-22.2%), from €41,510 to €32,294
of which Trade receivables: -€12,754
- Reserves -€42,572
down €42,572 (-33.9%), from €125,652 to €83,080
of which Distributable reserves: -€42,572
- Tax, wage and social debts -€21,711
down €21,711 (-68.4%), from €31,731 to €10,020
- Trade debts +€13,851
up €13,851, from €0 to €13,851
- Gross operating margin -€32,608
down €32,608 (-38.1%), from €85,557 to €52,949
- Depreciation +€5,354
up €5,354 (+6.9%), from €77,772 to €83,126
- Financial charges +€2,682
up €2,682 (+41.8%), from €6,420 to €9,102
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 | €494,202 | €440,305 | -€53,896 | -10.9% |
| Fixed assets | 21/28 | €381,881 | €360,549 | -€21,333 | -5.6% |
| Tangible fixed assets | 22/27 | €381,881 | €360,549 | -€21,333 | -5.6% |
| Plant, machinery and equipment | 23 | €193,698 | €194,859 | +€1,161 | +0.6% |
| Furniture and vehicles | 24 | €32,713 | €23,259 | -€9,453 | -28.9% |
| Other tangible fixed assets | 26 | €155,470 | €142,430 | -€13,040 | -8.4% |
| Current assets | 29/58 | €112,321 | €79,757 | -€32,564 | -29.0% |
| Stocks and contracts in progress | 3 | €30,000 | €30,000 | = | 0.0% |
| Stocks | 30/36 | €15,000 | €15,000 | = | 0.0% |
| Contracts in progress | 37 | €15,000 | €15,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €41,510 | €32,294 | -€9,216 | -22.2% |
| Trade receivables | 40 | €38,738 | €25,984 | -€12,754 | -32.9% |
| Other amounts receivable | 41 | €2,773 | €6,311 | +€3,538 | +127.6% |
| Cash at bank and in hand | 54/58 | €38,027 | €16,196 | -€21,831 | -57.4% |
| Deferred charges and accrued income | 490/1 | €2,784 | €1,267 | -€1,517 | -54.5% |
| Total equity and liabilities | 10/49 | €494,202 | €440,305 | -€53,896 | -10.9% |
| Equity | 10/15 | €144,252 | €101,680 | -€42,572 | -29.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €125,652 | €83,080 | -€42,572 | -33.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €125,652 | €83,080 | -€42,572 | -33.9% |
| Amounts payable | 17/49 | €349,950 | €338,625 | -€11,325 | -3.2% |
| Amounts payable after more than one year | 17 | €209,080 | €206,200 | -€2,880 | -1.4% |
| Financial debts | 170/4 | €209,080 | €206,200 | -€2,880 | -1.4% |
| Amounts payable within one year | 42/48 | €140,870 | €132,425 | -€8,445 | -6.0% |
| Current portion of amounts payable after more than one year | 42 | €56,370 | €59,945 | +€3,575 | +6.3% |
| Trade debts | 44 | €0 | €13,851 | +€13,851 | |
| Suppliers | 440/4 | €0 | €13,851 | +€13,851 | |
| Taxes, remuneration and social security | 45 | €31,731 | €10,020 | -€21,711 | -68.4% |
| Taxes | 450/3 | €31,731 | €10,020 | -€21,711 | -68.4% |
| Other amounts payable | 47/48 | €52,769 | €48,609 | -€4,160 | -7.9% |
| Non-recurring operating income | 76A | €14,225 | €2,024 | -€12,201 | -85.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,772 | €83,126 | +€5,354 | +6.9% |
| Other operating charges | 640/8 | €3,293 | €3,297 | +€3 | +0.1% |
| Gross operating margin | 9900 | €85,557 | €52,949 | -€32,608 | -38.1% |
| Operating profit (loss) | 9901 | €4,491 | -€33,474 | -€37,966 | |
| Financial income | 75/76B | €1 | €4 | +€3 | +321.6% |
| Recurring financial income | 75 | €1 | €4 | +€3 | +321.6% |
| Financial charges | 65/66B | €6,420 | €9,102 | +€2,682 | +41.8% |
| Recurring financial charges | 65 | €6,420 | €9,102 | +€2,682 | +41.8% |
| Profit (loss) for the period before taxes | 9903 | -€1,928 | -€42,572 | -€40,644 | -2108.5% |
| Profit (loss) for the period | 9904 | -€1,928 | -€42,572 | -€40,644 | -2108.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,928 | -€42,572 | -€40,644 | -2108.5% |
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 10 October 2026 via checked.be.