F-Drive: 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-Drive
Largest movements
- Cash +€43,535
up €43,535 (+82.6%), from €52,708 to €96,243
mainly Net result for the year (+€61,055) and Receivables within one year (+€25,053)
- Receivables within one year -€25,053
down €25,053 (-50.6%), from €49,557 to €24,503
- Tangible fixed assets -€10,863
down €10,863 (-29.2%), from €37,244 to €26,381
of which Furniture and vehicles: -€9,963
- Current investments -€3,932
down €3,932 (-8.7%), from €45,000 to €41,068
- Deferred charges and accrued income +€3,635
up €3,635 (+268%), from €1,355 to €4,990
- Reserves +€7,425
up €7,425 (+4.7%), from €159,229 to €166,654
- Trade debts +€2,881
up €2,881 (+132%), from €2,187 to €5,068
- Tax, wage and social debts -€2,320
down €2,320 (-13.5%), from €17,225 to €14,905
- Gross operating margin +€18,021
up €18,021 (+23.2%), from €77,738 to €95,759
- Taxes +€5,274
up €5,274 (+27.8%), from €18,967 to €24,241
- Financial income +€1,273
up €1,273 (+192%), from €664 to €1,937
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 | €185,864 | €193,185 | +€7,321 | +3.9% |
| Fixed assets | 21/28 | €37,244 | €26,381 | -€10,863 | -29.2% |
| Tangible fixed assets | 22/27 | €37,244 | €26,381 | -€10,863 | -29.2% |
| Plant, machinery and equipment | 23 | €1,760 | €2,047 | +€287 | +16.3% |
| Furniture and vehicles | 24 | €32,101 | €22,137 | -€9,963 | -31.0% |
| Other tangible fixed assets | 26 | €3,383 | €2,196 | -€1,187 | -35.1% |
| Current assets | 29/58 | €148,620 | €166,805 | +€18,184 | +12.2% |
| Amounts receivable within one year | 40/41 | €49,557 | €24,503 | -€25,053 | -50.6% |
| Trade receivables | 40 | €49,557 | €24,503 | -€25,053 | -50.6% |
| Current investments | 50/53 | €45,000 | €41,068 | -€3,932 | -8.7% |
| Cash at bank and in hand | 54/58 | €52,708 | €96,243 | +€43,535 | +82.6% |
| Deferred charges and accrued income | 490/1 | €1,355 | €4,990 | +€3,635 | +268% |
| Total equity and liabilities | 10/49 | €185,864 | €193,185 | +€7,321 | +3.9% |
| Equity | 10/15 | €165,429 | €172,854 | +€7,425 | +4.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €159,229 | €166,654 | +€7,425 | +4.7% |
| Distributable reserves | 133 | €159,229 | €166,654 | +€7,425 | +4.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €20,435 | €20,332 | -€104 | -0.5% |
| Amounts payable within one year | 42/48 | €20,435 | €20,332 | -€104 | -0.5% |
| Trade debts | 44 | €2,187 | €5,068 | +€2,881 | +132% |
| Suppliers | 440/4 | €2,187 | €5,068 | +€2,881 | +132% |
| Taxes, remuneration and social security | 45 | €17,225 | €14,905 | -€2,320 | -13.5% |
| Taxes | 450/3 | €17,225 | €14,905 | -€2,320 | -13.5% |
| Other amounts payable | 47/48 | €1,023 | €358 | -€665 | -65.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,393 | €11,932 | +€539 | +4.7% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Non-recurring operating charges | 66A | €183 | €0 | -€183 | -100% |
| Gross operating margin | 9900 | €77,738 | €95,759 | +€18,021 | +23.2% |
| Operating profit (loss) | 9901 | €65,775 | €83,427 | +€17,653 | +26.8% |
| Financial income | 75/76B | €664 | €1,937 | +€1,273 | +192% |
| Recurring financial income | 75 | €664 | €1,937 | +€1,273 | +192% |
| Financial charges | 65/66B | €30 | €68 | +€38 | +126% |
| Recurring financial charges | 65 | €30 | €68 | +€38 | +126% |
| Profit (loss) for the period before taxes | 9903 | €66,409 | €85,297 | +€18,888 | +28.4% |
| Income taxes | 67/77 | €18,967 | €24,241 | +€5,274 | +27.8% |
| Profit (loss) for the period | 9904 | €47,442 | €61,055 | +€13,614 | +28.7% |
| Profit (loss) for the period to be appropriated | 9905 | €47,442 | €61,055 | +€13,614 | +28.7% |
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 21 October 2026 via checked.be.