F & F Projects: 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 & F Projects
Largest movements
- Stocks and contracts -€331,027
down €331,027 (-65.4%), from €506,080 to €175,052
- Receivables within one year +€284,685
up €284,685 (+325.0%), from €87,602 to €372,286
- Cash +€11,919
up €11,919 (+3375.5%), from €353 to €12,272
mainly Stocks and contracts (+€331,027) and Net result for the year (+€84,103)
- Other debts -€140,482
down €140,482 (-63.2%), from €222,151 to €81,670
- Reserves +€84,103
up €84,103 (+197.7%), from €42,549 to €126,651
- Tax, wage and social debts +€38,241
up €38,241 (+212.9%), from €17,965 to €56,207
- Accrued charges and deferred income -€10,994
no longer reported in 2025 (was €10,994)
- Gross operating margin -€81,145
down €81,145 (-41.6%), from €194,922 to €113,777
- Financial charges -€46,998
down €46,998 (-97.6%), from €48,145 to €1,147
- Taxes +€18,388
up €18,388 (+111.7%), from €16,456 to €34,843
- Financial income +€5,797
up €5,797 (+753.8%), from €769 to €6,566
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 | €595,223 | €566,544 | -€28,679 | -4.8% |
| Fixed assets | 21/28 | €420 | €420 | = | 0.0% |
| Financial fixed assets | 28 | €420 | €420 | = | 0.0% |
| Current assets | 29/58 | €594,803 | €566,124 | -€28,679 | -4.8% |
| Stocks and contracts in progress | 3 | €506,080 | €175,052 | -€331,027 | -65.4% |
| Stocks | 30/36 | €506,080 | €175,052 | -€331,027 | -65.4% |
| Amounts receivable within one year | 40/41 | €87,602 | €372,286 | +€284,685 | +325.0% |
| Other amounts receivable | 41 | €87,602 | €372,286 | +€284,685 | +325.0% |
| Cash at bank and in hand | 54/58 | €353 | €12,272 | +€11,919 | +3375.5% |
| Deferred charges and accrued income | 490/1 | €769 | €6,513 | +€5,744 | +747.0% |
| Total equity and liabilities | 10/49 | €595,223 | €566,544 | -€28,679 | -4.8% |
| Equity | 10/15 | €342,549 | €426,651 | +€84,103 | +24.6% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €42,549 | €126,651 | +€84,103 | +197.7% |
| Distributable reserves | 133 | €42,549 | €126,651 | +€84,103 | +197.7% |
| Amounts payable | 17/49 | €252,675 | €139,893 | -€112,782 | -44.6% |
| Amounts payable within one year | 42/48 | €241,681 | €139,893 | -€101,788 | -42.1% |
| Trade debts | 44 | €1,564 | €2,016 | +€452 | +28.9% |
| Suppliers | 440/4 | €1,564 | €2,016 | +€452 | +28.9% |
| Taxes, remuneration and social security | 45 | €17,965 | €56,207 | +€38,241 | +212.9% |
| Taxes | 450/3 | €17,965 | €56,207 | +€38,241 | +212.9% |
| Other amounts payable | 47/48 | €222,151 | €81,670 | -€140,482 | -63.2% |
| Accrued charges and deferred income | 492/3 | €10,994 | - | -€10,994 | |
| Other operating charges | 640/8 | €348 | €250 | -€98 | -28.2% |
| Gross operating margin | 9900 | €194,922 | €113,777 | -€81,145 | -41.6% |
| Operating profit (loss) | 9901 | €194,574 | €113,527 | -€81,047 | -41.7% |
| Financial income | 75/76B | €769 | €6,566 | +€5,797 | +753.8% |
| Recurring financial income | 75 | €769 | €6,566 | +€5,797 | +753.8% |
| Financial charges | 65/66B | €48,145 | €1,147 | -€46,998 | -97.6% |
| Recurring financial charges | 65 | €48,145 | €1,147 | -€46,998 | -97.6% |
| Profit (loss) for the period before taxes | 9903 | €147,198 | €118,946 | -€28,252 | -19.2% |
| Income taxes | 67/77 | €16,456 | €34,843 | +€18,388 | +111.7% |
| Profit (loss) for the period | 9904 | €130,742 | €84,103 | -€46,639 | -35.7% |
| Profit (loss) for the period to be appropriated | 9905 | €130,742 | €84,103 | -€46,639 | -35.7% |
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 10 October 2026 via checked.be.