F+C: 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+C
Largest movements
- Tangible fixed assets +€70,556
up €70,556 (+393%), from €17,967 to €88,523
of which Other tangible fixed assets: +€40,127
- Receivables within one year +€69,714
up €69,714 (+88.9%), from €78,443 to €148,157
of which Trade receivables: +€50,097
- Cash +€59,694
up €59,694 (+38.1%), from €156,664 to €216,358
mainly Net result for the year (+€216,435) and Trade debts (+€23,412)
- Reserves +€216,435
up €216,435 (+189%), from €114,630 to €331,065
- Other debts -€57,216
no longer reported in 2025 (was €57,216)
- Trade debts +€23,412
up €23,412 (+282%), from €8,303 to €31,715
- Tax, wage and social debts +€16,816
up €16,816 (+23.5%), from €71,618 to €88,434
- Gross operating margin +€134,192
up €134,192 (+85.5%), from €157,004 to €291,196
- Taxes +€26,478
up €26,478 (+62.8%), from €42,160 to €68,638
- Depreciation +€5,137
up €5,137 (+2,917%), from €176 to €5,313
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 | €253,767 | €453,215 | +€199,447 | +78.6% |
| Fixed assets | 21/28 | €17,967 | €88,523 | +€70,556 | +393% |
| Tangible fixed assets | 22/27 | €17,967 | €88,523 | +€70,556 | +393% |
| Plant, machinery and equipment | 23 | - | €903 | +€903 | |
| Furniture and vehicles | 24 | €6,837 | €36,362 | +€29,525 | +432% |
| Other tangible fixed assets | 26 | €11,130 | €51,258 | +€40,127 | +361% |
| Current assets | 29/58 | €235,800 | €364,692 | +€128,892 | +54.7% |
| Amounts receivable within one year | 40/41 | €78,443 | €148,157 | +€69,714 | +88.9% |
| Trade receivables | 40 | €78,443 | €128,539 | +€50,097 | +63.9% |
| Other amounts receivable | 41 | - | €19,618 | +€19,618 | |
| Cash at bank and in hand | 54/58 | €156,664 | €216,358 | +€59,694 | +38.1% |
| Deferred charges and accrued income | 490/1 | €694 | €177 | -€517 | -74.5% |
| Total equity and liabilities | 10/49 | €253,767 | €453,215 | +€199,447 | +78.6% |
| Equity | 10/15 | €116,630 | €333,065 | +€216,435 | +186% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €114,630 | €331,065 | +€216,435 | +189% |
| Distributable reserves | 133 | €114,630 | €331,065 | +€216,435 | +189% |
| Amounts payable | 17/49 | €137,137 | €120,149 | -€16,988 | -12.4% |
| Amounts payable within one year | 42/48 | €137,137 | €120,149 | -€16,988 | -12.4% |
| Trade debts | 44 | €8,303 | €31,715 | +€23,412 | +282% |
| Suppliers | 440/4 | €8,303 | €31,715 | +€23,412 | +282% |
| Taxes, remuneration and social security | 45 | €71,618 | €88,434 | +€16,816 | +23.5% |
| Taxes | 450/3 | €71,618 | €88,434 | +€16,816 | +23.5% |
| Other amounts payable | 47/48 | €57,216 | - | -€57,216 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €176 | €5,313 | +€5,137 | +2,917% |
| Other operating charges | 640/8 | - | €446 | +€446 | |
| Gross operating margin | 9900 | €157,004 | €291,196 | +€134,192 | +85.5% |
| Operating profit (loss) | 9901 | €156,828 | €285,437 | +€128,609 | +82.0% |
| Financial income | 75/76B | €3 | €146 | +€143 | +4,761% |
| Recurring financial income | 75 | €3 | €146 | +€143 | +4,761% |
| Financial charges | 65/66B | €41 | €510 | +€469 | +1,147% |
| Recurring financial charges | 65 | €41 | €510 | +€469 | +1,147% |
| Profit (loss) for the period before taxes | 9903 | €156,790 | €285,073 | +€128,283 | +81.8% |
| Income taxes | 67/77 | €42,160 | €68,638 | +€26,478 | +62.8% |
| Profit (loss) for the period | 9904 | €114,630 | €216,435 | +€101,805 | +88.8% |
| Profit (loss) for the period to be appropriated | 9905 | €114,630 | €216,435 | +€101,805 | +88.8% |
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 23 October 2026 via checked.be.