F.B. MANAGEMENT: 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.
F.B. MANAGEMENT
Largest movements
- Receivables within one year +€26,034
up €26,034 (+47.7%), from €54,524 to €80,558
of which Other amounts receivable: +€23,163
- Cash +€11,525
up €11,525 (+89.8%), from €12,837 to €24,362
mainly Net result for the year (+€37,627) and Depreciation (+€6,491)
- Tangible fixed assets -€6,491
down €6,491 (-24.9%), from €26,084 to €19,593
of which Furniture and vehicles: -€4,304
- Reserves +€53,659
up €53,659 (+123%), from €43,585 to €97,244
of which Distributable reserves: +€53,659
- Profit (loss) carried forward -€16,031
down €16,031 (-86.0%), from -€18,651 to -€34,682
- Debts after one year -€9,580
down €9,580 (-24.0%), from €39,900 to €30,320
- Trade debts +€1,917
up €1,917 (+235%), from €817 to €2,734
- Gross operating margin -€35,985
down €35,985 (-31.9%), from €112,759 to €76,774
- Taxes +€17,801
up €17,801 (+183%), from €9,721 to €27,522
- Depreciation -€3,278
down €3,278 (-33.6%), from €9,769 to €6,491
- Other operating charges -€2,915
down €2,915 (-63.1%), from €4,623 to €1,708
- Financial charges -€1,539
down €1,539 (-31.0%), from €4,965 to €3,426
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 | €95,489 | €125,586 | +€30,097 | +31.5% |
| Fixed assets | 21/28 | €26,553 | €20,062 | -€6,491 | -24.4% |
| Tangible fixed assets | 22/27 | €26,084 | €19,593 | -€6,491 | -24.9% |
| Land and buildings | 22 | €17,146 | €14,959 | -€2,187 | -12.8% |
| Furniture and vehicles | 24 | €8,938 | €4,634 | -€4,304 | -48.2% |
| Financial fixed assets | 28 | €469 | €469 | = | 0.0% |
| Current assets | 29/58 | €68,936 | €105,524 | +€36,588 | +53.1% |
| Amounts receivable within one year | 40/41 | €54,524 | €80,558 | +€26,034 | +47.7% |
| Trade receivables | 40 | €7,879 | €10,750 | +€2,871 | +36.4% |
| Other amounts receivable | 41 | €46,645 | €69,808 | +€23,163 | +49.7% |
| Cash at bank and in hand | 54/58 | €12,837 | €24,362 | +€11,525 | +89.8% |
| Deferred charges and accrued income | 490/1 | €1,575 | €604 | -€971 | -61.7% |
| Total equity and liabilities | 10/49 | €95,489 | €125,586 | +€30,097 | +31.5% |
| Equity | 10/15 | €44,934 | €82,562 | +€37,628 | +83.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €43,585 | €97,244 | +€53,659 | +123% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,586 | €7,586 | = | 0.0% |
| Distributable reserves | 133 | €33,999 | €87,658 | +€53,659 | +158% |
| Profit (loss) carried forward | 14 | -€18,651 | -€34,682 | -€16,031 | -86.0% |
| Amounts payable | 17/49 | €50,555 | €43,024 | -€7,531 | -14.9% |
| Amounts payable after more than one year | 17 | €39,900 | €30,320 | -€9,580 | -24.0% |
| Financial debts | 170/4 | €39,900 | €30,320 | -€9,580 | -24.0% |
| Amounts payable within one year | 42/48 | €10,655 | €12,704 | +€2,049 | +19.2% |
| Current portion of amounts payable after more than one year | 42 | €9,838 | €9,970 | +€132 | +1.3% |
| Trade debts | 44 | €817 | €2,734 | +€1,917 | +235% |
| Suppliers | 440/4 | €817 | €2,734 | +€1,917 | +235% |
| Non-recurring operating income | 76A | €83,681 | €84,248 | +€567 | +0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,769 | €6,491 | -€3,278 | -33.6% |
| Other operating charges | 640/8 | €4,623 | €1,708 | -€2,915 | -63.1% |
| Gross operating margin | 9900 | €112,759 | €76,774 | -€35,985 | -31.9% |
| Operating profit (loss) | 9901 | €98,367 | €68,575 | -€29,792 | -30.3% |
| Financial charges | 65/66B | €4,965 | €3,426 | -€1,539 | -31.0% |
| Recurring financial charges | 65 | €4,965 | €3,426 | -€1,539 | -31.0% |
| Profit (loss) for the period before taxes | 9903 | €93,402 | €65,149 | -€28,253 | -30.2% |
| Income taxes | 67/77 | €9,721 | €27,522 | +€17,801 | +183% |
| Profit (loss) for the period | 9904 | €83,681 | €37,627 | -€46,054 | -55.0% |
| Profit (loss) for the period to be appropriated | 9905 | €83,681 | €37,627 | -€46,054 | -55.0% |
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 14 October 2026 via checked.be.