F.D.J.: what changed
Two fiscal 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.D.J.
Largest movements
- Cash -€52,451
down €52,451 (-86.0%), from €60,994 to €8,543
mainly Debts after one year (-€54,627) and Receivables within one year (-€45,760)
- Receivables within one year +€45,760
up €45,760 (+97.6%), from €46,869 to €92,629
of which Other amounts receivable: +€46,770
- Intangible fixed assets -€43,750
down €43,750 (-11.9%), from €366,595 to €322,845
- Tangible fixed assets -€19,043
down €19,043 (-5.2%), from €365,592 to €346,549
of which Furniture and vehicles: -€22,632
- Debts after one year -€54,627
down €54,627 (-15.5%), from €351,341 to €296,714
- Tax, wage and social debts -€36,858
down €36,858 (-72.9%), from €50,592 to €13,734
of which Taxes: -€29,098
- Reserves +€21,458
up €21,458 (+6.5%), from €330,745 to €352,203
of which Distributable reserves: +€21,458
- Gross operating margin +€32,994
up €32,994 (+15.0%), from €219,853 to €252,846
- Staff costs +€19,663
up €19,663 (+22.4%), from €87,910 to €107,573
- Depreciation +€13,649
up €13,649 (+17.1%), from €79,833 to €93,481
- Taxes -€2,719
down €2,719 (-15.7%), from €17,368 to €14,649
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €859,654 | €783,095 | -€76,559 | -8.9% |
| Fixed assets | 21/28 | €732,267 | €669,474 | -€62,793 | -8.6% |
| Intangible fixed assets | 21 | €366,595 | €322,845 | -€43,750 | -11.9% |
| Tangible fixed assets | 22/27 | €365,592 | €346,549 | -€19,043 | -5.2% |
| Land and buildings | 22 | €185,317 | €174,215 | -€11,102 | -6.0% |
| Plant, machinery and equipment | 23 | €7,844 | €6,939 | -€905 | -11.5% |
| Furniture and vehicles | 24 | €115,632 | €93,000 | -€22,632 | -19.6% |
| Other tangible fixed assets | 26 | €56,799 | €72,395 | +€15,595 | +27.5% |
| Financial fixed assets | 28 | €80 | €80 | = | 0.0% |
| Current assets | 29/58 | €127,386 | €113,621 | -€13,765 | -10.8% |
| Amounts receivable within one year | 40/41 | €46,869 | €92,629 | +€45,760 | +97.6% |
| Trade receivables | 40 | €1,010 | - | -€1,010 | |
| Other amounts receivable | 41 | €45,859 | €92,629 | +€46,770 | +102.0% |
| Cash at bank and in hand | 54/58 | €60,994 | €8,543 | -€52,451 | -86.0% |
| Deferred charges and accrued income | 490/1 | €19,523 | €12,449 | -€7,074 | -36.2% |
| Total equity and liabilities | 10/49 | €859,654 | €783,095 | -€76,559 | -8.9% |
| Equity | 10/15 | €381,127 | €402,585 | +€21,458 | +5.6% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €330,745 | €352,203 | +€21,458 | +6.5% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €328,745 | €350,203 | +€21,458 | +6.5% |
| Profit (loss) carried forward | 14 | €382 | €382 | = | 0.0% |
| Amounts payable | 17/49 | €478,526 | €380,510 | -€98,016 | -20.5% |
| Amounts payable after more than one year | 17 | €351,341 | €296,714 | -€54,627 | -15.5% |
| Financial debts | 170/4 | €351,341 | €296,714 | -€54,627 | -15.5% |
| Amounts payable within one year | 42/48 | €127,186 | €83,796 | -€43,390 | -34.1% |
| Current portion of amounts payable after more than one year | 42 | €63,693 | €61,038 | -€2,655 | -4.2% |
| Trade debts | 44 | €5,905 | - | -€5,905 | |
| Suppliers | 440/4 | €5,905 | - | -€5,905 | |
| Taxes, remuneration and social security | 45 | €50,592 | €13,734 | -€36,858 | -72.9% |
| Taxes | 450/3 | €29,098 | - | -€29,098 | |
| Remuneration and social security | 454/9 | €21,494 | €13,734 | -€7,759 | -36.1% |
| Other amounts payable | 47/48 | €6,996 | €9,024 | +€2,028 | +29.0% |
| Remuneration, social security and pensions | 62 | €87,910 | €107,573 | +€19,663 | +22.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,833 | €93,481 | +€13,649 | +17.1% |
| Other operating charges | 640/8 | €4,668 | €2,741 | -€1,927 | -41.3% |
| Gross operating margin | 9900 | €219,853 | €252,846 | +€32,994 | +15.0% |
| Operating profit (loss) | 9901 | €47,442 | €49,050 | +€1,609 | +3.4% |
| Financial income | 75/76B | €6 | €946 | +€939 | +14470.1% |
| Recurring financial income | 75 | €6 | €946 | +€939 | +14470.1% |
| Financial charges | 65/66B | €14,837 | €13,889 | -€948 | -6.4% |
| Recurring financial charges | 65 | €14,821 | €13,539 | -€1,282 | -8.6% |
| Non-recurring financial charges | 66B | €16 | €350 | +€334 | +2029.0% |
| Profit (loss) for the period before taxes | 9903 | €32,611 | €36,107 | +€3,496 | +10.7% |
| Transfer from deferred taxes | 780 | €4,174 | - | -€4,174 | |
| Income taxes | 67/77 | €17,368 | €14,649 | -€2,719 | -15.7% |
| Profit (loss) for the period | 9904 | €19,416 | €21,458 | +€2,041 | +10.5% |
| Transfer from tax-exempt reserves | 789 | €21,357 | - | -€21,357 | |
| Profit (loss) for the period to be appropriated | 9905 | €40,773 | €21,458 | -€19,315 | -47.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.