F.D.L.: 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.L.
Largest movements
- Stocks and contracts -€11,364
down €11,364 (-11.9%), from €95,415 to €84,050
- Receivables within one year -€11,108
down €11,108 (-61.0%), from €18,202 to €7,094
of which Trade receivables: -€10,251
- Tangible fixed assets -€4,666
down €4,666 (-86.8%), from €5,375 to €710
of which Furniture and vehicles: -€4,555
- Debts after one year +€11,768
up €11,768 (+94.2%), from €12,487 to €24,256
- Short-term financial debts -€10,833
down €10,833 (-41.6%), from €26,057 to €15,224
- Profit (loss) carried forward -€10,269
down €10,269 (-17.9%), from -€57,477 to -€67,747
- Trade debts -€8,640
down €8,640 (-25.2%), from €34,260 to €25,620
- Current portion of long-term debt -€4,374
down €4,374 (-33.0%), from €13,254 to €8,880
- Gross operating margin -€23,634
down €23,634 (-99.4%), from €23,785 to €151
- Other operating charges +€538
up €538 (+142.8%), from €377 to €915
- Financial charges -€248
down €248 (-4.3%), from €5,731 to €5,483
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 | €125,431 | €96,765 | -€28,666 | -22.9% |
| Fixed assets | 21/28 | €5,553 | €887 | -€4,666 | -84.0% |
| Tangible fixed assets | 22/27 | €5,375 | €710 | -€4,666 | -86.8% |
| Plant, machinery and equipment | 23 | €482 | €372 | -€110 | -22.9% |
| Furniture and vehicles | 24 | €4,893 | €338 | -€4,555 | -93.1% |
| Financial fixed assets | 28 | €178 | €178 | = | 0.0% |
| Current assets | 29/58 | €119,878 | €95,878 | -€24,000 | -20.0% |
| Stocks and contracts in progress | 3 | €95,415 | €84,050 | -€11,364 | -11.9% |
| Stocks | 30/36 | €95,415 | €84,050 | -€11,364 | -11.9% |
| Amounts receivable within one year | 40/41 | €18,202 | €7,094 | -€11,108 | -61.0% |
| Trade receivables | 40 | €17,343 | €7,092 | -€10,251 | -59.1% |
| Other amounts receivable | 41 | €859 | €2 | -€857 | -99.8% |
| Cash at bank and in hand | 54/58 | €4,473 | €4,043 | -€431 | -9.6% |
| Deferred charges and accrued income | 490/1 | €1,789 | €691 | -€1,098 | -61.4% |
| Total equity and liabilities | 10/49 | €125,431 | €96,765 | -€28,666 | -22.9% |
| Equity | 10/15 | €9,434 | -€835 | -€10,269 | |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €48,320 | €48,320 | = | 0.0% |
| Distributable reserves | 133 | €48,320 | €48,320 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€57,477 | -€67,747 | -€10,269 | -17.9% |
| Amounts payable | 17/49 | €115,997 | €97,601 | -€18,396 | -15.9% |
| Amounts payable after more than one year | 17 | €12,487 | €24,256 | +€11,768 | +94.2% |
| Financial debts | 170/4 | €12,487 | €24,256 | +€11,768 | +94.2% |
| Amounts payable within one year | 42/48 | €102,783 | €73,345 | -€29,438 | -28.6% |
| Current portion of amounts payable after more than one year | 42 | €13,254 | €8,880 | -€4,374 | -33.0% |
| Financial debts | 43 | €26,057 | €15,224 | -€10,833 | -41.6% |
| Credit institutions | 430/8 | €26,057 | €15,224 | -€10,833 | -41.6% |
| Trade debts | 44 | €34,260 | €25,620 | -€8,640 | -25.2% |
| Suppliers | 440/4 | €34,260 | €25,620 | -€8,640 | -25.2% |
| Taxes, remuneration and social security | 45 | €5,311 | €2,908 | -€2,403 | -45.3% |
| Taxes | 450/3 | €5,311 | €2,908 | -€2,403 | -45.3% |
| Other amounts payable | 47/48 | €23,900 | €20,713 | -€3,187 | -13.3% |
| Accrued charges and deferred income | 492/3 | €727 | €0 | -€727 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,807 | €4,666 | -€141 | -2.9% |
| Other operating charges | 640/8 | €377 | €915 | +€538 | +142.8% |
| Gross operating margin | 9900 | €23,785 | €151 | -€23,634 | -99.4% |
| Operating profit (loss) | 9901 | €18,601 | -€5,430 | -€24,031 | |
| Financial income | 75/76B | €718 | €644 | -€74 | -10.3% |
| Recurring financial income | 75 | €718 | €644 | -€74 | -10.3% |
| Financial charges | 65/66B | €5,731 | €5,483 | -€248 | -4.3% |
| Recurring financial charges | 65 | €5,731 | €5,483 | -€248 | -4.3% |
| Profit (loss) for the period before taxes | 9903 | €13,588 | -€10,269 | -€23,858 | |
| Profit (loss) for the period | 9904 | €13,588 | -€10,269 | -€23,858 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,588 | -€10,269 | -€23,858 |
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 8 October 2026 via checked.be.