F.I.: 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.I.
Largest movements
- Stocks and contracts +€118,815
up €118,815 (+141%), from €84,157 to €202,972
- Receivables within one year +€39,631
up €39,631 (+298%), from €13,315 to €52,946
of which Other amounts receivable: +€23,404
- Cash +€11,401
up €11,401 (+178%), from €6,397 to €17,798
mainly Trade debts (+€85,701) and Tax, wage and social debts (+€36,440)
- Tangible fixed assets -€4,059
down €4,059 (-25.9%), from €15,677 to €11,618
of which Furniture and vehicles: -€4,681
- Trade debts +€85,701
up €85,701 (+641%), from €13,366 to €99,067
- Tax, wage and social debts +€36,440
up €36,440 (+66.9%), from €54,459 to €90,899
of which Taxes: +€49,640
- Profit (loss) carried forward +€32,876
up €32,876 (+131%), from €25,183 to €58,059
- Current portion of long-term debt +€31,810
new in 2025: €31,810
- Other debts -€21,038
no longer reported in 2025 (was €21,038)
- Gross operating margin +€16,616
up €16,616 (+44.2%), from €37,610 to €54,226
- Depreciation +€3,783
up €3,783 (+123%), from €3,081 to €6,864
- Financial charges +€2,353
up €2,353 (+827%), from €284 to €2,637
- Taxes +€2,122
up €2,122 (+31.1%), from €6,832 to €8,954
- Other operating charges +€667
up €667 (+29.9%), from €2,229 to €2,896
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 | €119,546 | €285,335 | +€165,789 | +139% |
| Fixed assets | 21/28 | €15,677 | €11,618 | -€4,059 | -25.9% |
| Tangible fixed assets | 22/27 | €15,677 | €11,618 | -€4,059 | -25.9% |
| Plant, machinery and equipment | 23 | €2,269 | €2,891 | +€622 | +27.4% |
| Furniture and vehicles | 24 | €13,409 | €8,727 | -€4,681 | -34.9% |
| Current assets | 29/58 | €103,869 | €273,717 | +€169,848 | +164% |
| Stocks and contracts in progress | 3 | €84,157 | €202,972 | +€118,815 | +141% |
| Stocks | 30/36 | €84,157 | €202,972 | +€118,815 | +141% |
| Amounts receivable within one year | 40/41 | €13,315 | €52,946 | +€39,631 | +298% |
| Trade receivables | 40 | €9,908 | €26,136 | +€16,228 | +164% |
| Other amounts receivable | 41 | €3,407 | €26,811 | +€23,404 | +687% |
| Cash at bank and in hand | 54/58 | €6,397 | €17,798 | +€11,401 | +178% |
| Total equity and liabilities | 10/49 | €119,546 | €285,335 | +€165,789 | +139% |
| Equity | 10/15 | €28,183 | €61,059 | +€32,876 | +117% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,183 | €58,059 | +€32,876 | +131% |
| Amounts payable | 17/49 | €91,363 | €224,276 | +€132,913 | +145% |
| Amounts payable after more than one year | 17 | €2,500 | €2,500 | = | 0.0% |
| Financial debts | 170/4 | €2,500 | €2,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €88,863 | €221,776 | +€132,913 | +150% |
| Current portion of amounts payable after more than one year | 42 | - | €31,810 | +€31,810 | |
| Trade debts | 44 | €13,366 | €99,067 | +€85,701 | +641% |
| Suppliers | 440/4 | €13,366 | €99,067 | +€85,701 | +641% |
| Taxes, remuneration and social security | 45 | €54,459 | €90,899 | +€36,440 | +66.9% |
| Taxes | 450/3 | €29,259 | €78,899 | +€49,640 | +170% |
| Remuneration and social security | 454/9 | €25,200 | €12,000 | -€13,200 | -52.4% |
| Other amounts payable | 47/48 | €21,038 | - | -€21,038 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,081 | €6,864 | +€3,783 | +123% |
| Other operating charges | 640/8 | €2,229 | €2,896 | +€667 | +29.9% |
| Gross operating margin | 9900 | €37,610 | €54,226 | +€16,616 | +44.2% |
| Operating profit (loss) | 9901 | €32,299 | €44,467 | +€12,167 | +37.7% |
| Financial income | 75/76B | €0 | €0 | +€0 | +700% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +700% |
| Financial charges | 65/66B | €284 | €2,637 | +€2,353 | +827% |
| Recurring financial charges | 65 | €284 | €2,637 | +€2,353 | +827% |
| Profit (loss) for the period before taxes | 9903 | €32,015 | €41,829 | +€9,814 | +30.7% |
| Income taxes | 67/77 | €6,832 | €8,954 | +€2,122 | +31.1% |
| Profit (loss) for the period | 9904 | €25,183 | €32,876 | +€7,692 | +30.5% |
| Profit (loss) for the period to be appropriated | 9905 | €25,183 | €32,876 | +€7,692 | +30.5% |
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 29 October 2026 via checked.be.