BELGIAN FLUID SYSTEM TECHNOLOGIES: 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.
What changed
BELGIAN FLUID SYSTEM TECHNOLOGIES
NACE 46.842, Wholesale trade
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€59,769
2024 · €502,990-€562,758
Equity
€2.8m
2024 · €2.8m-€59,769
Cash
€931,451
2024 · €961,762-€30,311
Balance sheet total
€4.4m
2024 · €4.6m-€268,158
Largest movements
Assets
- Receivables within one year -€353,615
down €353,615 (-14.4%), from €2.5m to €2.1m
of which Trade receivables: -€353,615
- Tangible fixed assets +€183,114
up €183,114 (+65.6%), from €279,019 to €462,133
of which Other tangible fixed assets: +€326,969
Equity and liabilities
- Trade debts -€243,117
down €243,117 (-48.2%), from €503,988 to €260,871
of which Suppliers: -€243,117
- Profit (loss) carried forward -€59,769
down €59,769 (-3.2%), from €1.9m to €1.8m
- Tax, wage and social debts +€49,347
up €49,347 (+10.4%), from €475,423 to €524,770
of which Remuneration and social security: +€52,815
Income statement
- Staff costs +€399,841
up €399,841 (+17.0%), from €2.4m to €2.8m
- Gross operating margin -€333,030
down €333,030 (-10.3%), from €3.2m to €2.9m
- Taxes -€219,010
down €219,010, from €214,929 to -€4,080
- Depreciation +€40,003
up €40,003 (+93.8%), from €42,633 to €82,636
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.
Result 2024
€502,990
Gross operating margin
-€333,030
Staff costs
-€399,841
Depreciation
-€40,003
Write-downs
-€5,996
Other operating charges
+€6,165
Other operating items
-€18,583
Financial income
+€1,621
Financial charges
+€7,898
Taxes
+€219,010
Result 2025
-€59,769
Cash bridge derived
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.
From operations
+€239,539
Investment
-€269,850
Financing
€0
Cash 2024
€961,762
From operations (derived)
+€239,539
Net result for the year
-€59,769
Depreciation
+€82,636
Stocks and contracts
+€41,376
Receivables within one year
+€353,615
Deferred charges and accrued income
+€30,069
Trade debts
-€243,117
Tax, wage and social debts
+€49,347
Advances received
-€16,637
Other debts
+€2,017
Investment (derived)
-€269,850
Investment in fixed assets (net)
-€269,850
Cash 2025
€931,451
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,622,179 | €4,354,021 | -€268,158 | -5.8% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €279,067 | €466,281 | +€187,214 | +67.1% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €279,019 | €462,133 | +€183,114 | +65.6% |
| Land and buildings | 22 | €4,086 | €0 | -€4,086 | -100.0% |
| Plant, machinery and equipment | 23 | €31,319 | €24,077 | -€7,243 | -23.1% |
| Furniture and vehicles | 24 | €90,673 | €111,087 | +€20,414 | +22.5% |
| Leasing and similar rights | 25 | - | €0 | = | |
| Other tangible fixed assets | 26 | - | €326,969 | +€326,969 | |
| Assets under construction and advance payments | 27 | €152,940 | €0 | -€152,940 | -100.0% |
| Financial fixed assets | 28 | €48 | €4,148 | +€4,100 | +8541.7% |
| Current assets | 29/58 | €4,343,112 | €3,887,740 | -€455,372 | -10.5% |
| Amounts receivable after more than one year | 29 | - | €0 | = | |
| Trade receivables | 290 | - | €0 | = | |
| Other amounts receivable | 291 | - | €0 | = | |
| Stocks and contracts in progress | 3 | €860,961 | €819,585 | -€41,376 | -4.8% |
| Stocks | 30/36 | €860,961 | €819,585 | -€41,376 | -4.8% |
| Contracts in progress | 37 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €2,455,070 | €2,101,455 | -€353,615 | -14.4% |
| Trade receivables | 40 | €2,455,070 | €2,101,455 | -€353,615 | -14.4% |
| Other amounts receivable | 41 | - | €0 | = | |
| Current investments | 50/53 | - | €0 | = | |
| Cash at bank and in hand | 54/58 | €961,762 | €931,451 | -€30,311 | -3.2% |
| Deferred charges and accrued income | 490/1 | €65,318 | €35,249 | -€30,069 | -46.0% |
| Total equity and liabilities | 10/49 | €4,622,179 | €4,354,021 | -€268,158 | -5.8% |
| Equity | 10/15 | €2,810,889 | €2,751,120 | -€59,769 | -2.1% |
| Contributions | 10/11 | €800,000 | €800,000 | = | 0.0% |
| Capital | 10 | €800,000 | - | -€800,000 | |
| Issued capital | 100 | €800,000 | - | -€800,000 | |
| Revaluation surpluses | 12 | - | €0 | = | |
| Reserves | 13 | €117,500 | €117,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | - | €0 | = | |
| Reserves not available under the articles | 1311 | - | €0 | = | |
| Own shares acquired | 1312 | - | €0 | = | |
| Financial assistance | 1313 | - | €0 | = | |
| Other | 1319 | - | €0 | = | |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €80,000 | €80,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,893,389 | €1,833,620 | -€59,769 | -3.2% |
| Investment grants | 15 | - | €0 | = | |
| Advance to shareholders on the distribution of net assets | 19 | - | €0 | = | |
| Provisions and deferred taxes | 16 | - | €0 | = | |
| Provisions for liabilities and charges | 160/5 | - | €0 | = | |
| Pensions and similar obligations | 160 | - | €0 | = | |
| Taxes | 161 | - | €0 | = | |
| Major repairs and maintenance | 162 | - | €0 | = | |
| Environmental obligations | 163 | - | €0 | = | |
| Other liabilities and charges | 164/5 | - | €0 | = | |
| Deferred taxes | 168 | - | €0 | = | |
| Amounts payable | 17/49 | €1,811,290 | €1,602,901 | -€208,390 | -11.5% |
| Amounts payable after more than one year | 17 | - | €0 | = | |
| Financial debts | 170/4 | - | €0 | = | |
| Trade debts | 175 | - | €0 | = | |
| Advances received on contracts in progress | 176 | - | €0 | = | |
| Other amounts payable | 178/9 | - | €0 | = | |
| Amounts payable within one year | 42/48 | €1,811,290 | €1,602,901 | -€208,390 | -11.5% |
| Current portion of amounts payable after more than one year | 42 | - | €0 | = | |
| Financial debts | 43 | - | €0 | = | |
| Credit institutions | 430/8 | - | €0 | = | |
| Other loans | 439 | - | €0 | = | |
| Trade debts | 44 | €503,988 | €260,871 | -€243,117 | -48.2% |
| Suppliers | 440/4 | €503,988 | €260,871 | -€243,117 | -48.2% |
| Bills of exchange payable | 441 | - | €0 | = | |
| Advances received on contracts in progress | 46 | €24,819 | €8,182 | -€16,637 | -67.0% |
| Taxes, remuneration and social security | 45 | €475,423 | €524,770 | +€49,347 | +10.4% |
| Taxes | 450/3 | €220,042 | €216,574 | -€3,468 | -1.6% |
| Remuneration and social security | 454/9 | €255,381 | €308,196 | +€52,815 | +20.7% |
| Other amounts payable | 47/48 | €807,060 | €809,077 | +€2,017 | +0.2% |
| Non-recurring operating income | 76A | - | €0 | = | |
| Remuneration, social security and pensions | 62 | €2,357,442 | €2,757,283 | +€399,841 | +17.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,633 | €82,636 | +€40,003 | +93.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €75,025 | €81,021 | +€5,996 | +8.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €0 | = | |
| Other operating charges | 640/8 | €6,239 | €73 | -€6,165 | -98.8% |
| Operating charges capitalised as restructuring costs | 649 | - | €0 | = | |
| Non-recurring operating charges | 66A | - | €18,583 | +€18,583 | |
| Gross operating margin | 9900 | €3,228,123 | €2,895,094 | -€333,030 | -10.3% |
| Operating profit (loss) | 9901 | €746,785 | -€44,502 | -€791,287 | |
| Financial income | 75/76B | €303 | €1,924 | +€1,621 | +535.4% |
| Recurring financial income | 75 | €303 | €1,924 | +€1,621 | +535.4% |
| Non-recurring financial income | 76B | - | €0 | = | |
| Financial charges | 65/66B | €29,168 | €21,271 | -€7,898 | -27.1% |
| Recurring financial charges | 65 | €29,168 | €21,271 | -€7,898 | -27.1% |
| Non-recurring financial charges | 66B | - | €0 | = | |
| Profit (loss) for the period before taxes | 9903 | €717,919 | -€63,849 | -€781,768 | |
| Transfer from deferred taxes | 780 | - | €0 | = | |
| Transfer to deferred taxes | 680 | - | €0 | = | |
| Income taxes | 67/77 | €214,929 | -€4,080 | -€219,010 | |
| Profit (loss) for the period | 9904 | €502,990 | -€59,769 | -€562,758 | |
| Transfer from tax-exempt reserves | 789 | - | €0 | = | |
| Transfer to tax-exempt reserves | 689 | - | €0 | = | |
| Profit (loss) for the period to be appropriated | 9905 | €502,990 | -€59,769 | -€562,758 |
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 12 October 2026 via checked.be.