F & D TRADING: 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 TRADING
Largest movements
- Receivables within one year +€6,222
up €6,222 (+16.9%), from €36,863 to €43,086
of which Trade receivables: +€18,496
- Tangible fixed assets +€2,267
new in 2025: €2,267
- Tax, wage and social debts +€7,176
up €7,176 (+49.9%), from €14,379 to €21,555
- Reserves +€1,459
up €1,459 (+3.3%), from €43,716 to €45,176
- Gross operating margin +€25,977
up €25,977 (+150.8%), from €17,224 to €43,201
- Financial charges +€2,783
up €2,783 (+1274.6%), from €218 to €3,001
- Taxes +€2,666
up €2,666 (+243.4%), from €1,095 to €3,761
- Other operating charges -€650
down €650 (-52.3%), from €1,244 to €594
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 | €83,092 | €90,975 | +€7,882 | +9.5% |
| Fixed assets | 21/28 | €17,998 | €20,265 | +€2,267 | +12.6% |
| Tangible fixed assets | 22/27 | - | €2,267 | +€2,267 | |
| Plant, machinery and equipment | 23 | - | €2,267 | +€2,267 | |
| Financial fixed assets | 28 | €17,998 | €17,998 | = | 0.0% |
| Current assets | 29/58 | €65,095 | €70,710 | +€5,615 | +8.6% |
| Amounts receivable within one year | 40/41 | €36,863 | €43,086 | +€6,222 | +16.9% |
| Trade receivables | 40 | €23,394 | €41,890 | +€18,496 | +79.1% |
| Other amounts receivable | 41 | €13,470 | €1,196 | -€12,274 | -91.1% |
| Cash at bank and in hand | 54/58 | €27,441 | €26,814 | -€628 | -2.3% |
| Deferred charges and accrued income | 490/1 | €790 | €811 | +€20 | +2.6% |
| Total equity and liabilities | 10/49 | €83,092 | €90,975 | +€7,882 | +9.5% |
| Equity | 10/15 | €62,316 | €63,776 | +€1,459 | +2.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €43,716 | €45,176 | +€1,459 | +3.3% |
| Distributable reserves | 133 | €43,716 | €45,176 | +€1,459 | +3.3% |
| Amounts payable | 17/49 | €20,776 | €27,199 | +€6,423 | +30.9% |
| Amounts payable within one year | 42/48 | €20,776 | €27,199 | +€6,423 | +30.9% |
| Trade debts | 44 | €6,397 | €5,644 | -€753 | -11.8% |
| Suppliers | 440/4 | €6,397 | €5,644 | -€753 | -11.8% |
| Taxes, remuneration and social security | 45 | €14,379 | €21,555 | +€7,176 | +49.9% |
| Taxes | 450/3 | €14,379 | €21,555 | +€7,176 | +49.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €213 | €215 | +€1 | +0.7% |
| Other operating charges | 640/8 | €1,244 | €594 | -€650 | -52.3% |
| Gross operating margin | 9900 | €17,224 | €43,201 | +€25,977 | +150.8% |
| Operating profit (loss) | 9901 | €15,767 | €42,393 | +€26,626 | +168.9% |
| Financial income | 75/76B | €394 | €368 | -€26 | -6.7% |
| Recurring financial income | 75 | €394 | €368 | -€26 | -6.7% |
| Financial charges | 65/66B | €218 | €3,001 | +€2,783 | +1274.6% |
| Recurring financial charges | 65 | €218 | €3,001 | +€2,783 | +1274.6% |
| Profit (loss) for the period before taxes | 9903 | €15,943 | €39,759 | +€23,816 | +149.4% |
| Income taxes | 67/77 | €1,095 | €3,761 | +€2,666 | +243.4% |
| Profit (loss) for the period | 9904 | €14,848 | €35,998 | +€21,150 | +142.4% |
| Profit (loss) for the period to be appropriated | 9905 | €14,848 | €35,998 | +€21,150 | +142.4% |
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 5 October 2026 via checked.be.