F.J.S.: 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.J.S.
Largest movements
- Tangible fixed assets -€20,717
down €20,717 (-4.3%), from €487,377 to €466,660
- Cash -€14,412
down €14,412 (-52.1%), from €27,662 to €13,250
mainly Debts after one year (-€17,643) and Net result for the year (-€14,748)
- Debts after one year -€17,643
down €17,643 (-4.8%), from €364,156 to €346,513
- Reserves -€14,748
down €14,748 (-20.7%), from €71,131 to €56,383
of which Distributable reserves: -€14,748
- Gross operating margin -€27,234
down €27,234 (-61.6%), from €44,177 to €16,943
- Taxes -€4,524
down €4,524 (-97.9%), from €4,621 to €97
- Other operating charges +€3,611
up €3,611 (+683.9%), from €528 to €4,139
- Depreciation +€788
up €788 (+4.0%), from €19,929 to €20,717
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 | €520,466 | €486,675 | -€33,791 | -6.5% |
| Fixed assets | 21/28 | €487,377 | €466,660 | -€20,717 | -4.3% |
| Tangible fixed assets | 22/27 | €487,377 | €466,660 | -€20,717 | -4.3% |
| Land and buildings | 22 | €487,377 | €466,660 | -€20,717 | -4.3% |
| Current assets | 29/58 | €33,089 | €20,015 | -€13,074 | -39.5% |
| Amounts receivable within one year | 40/41 | €5,427 | €6,765 | +€1,338 | +24.7% |
| Trade receivables | 40 | €2,636 | €3,895 | +€1,259 | +47.8% |
| Other amounts receivable | 41 | €2,791 | €2,870 | +€79 | +2.8% |
| Cash at bank and in hand | 54/58 | €27,662 | €13,250 | -€14,412 | -52.1% |
| Total equity and liabilities | 10/49 | €520,466 | €486,675 | -€33,791 | -6.5% |
| Equity | 10/15 | €132,631 | €117,883 | -€14,748 | -11.1% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €71,131 | €56,383 | -€14,748 | -20.7% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €64,981 | €50,233 | -€14,748 | -22.7% |
| Amounts payable | 17/49 | €387,835 | €368,792 | -€19,043 | -4.9% |
| Amounts payable after more than one year | 17 | €364,156 | €346,513 | -€17,643 | -4.8% |
| Financial debts | 170/4 | €364,156 | €346,513 | -€17,643 | -4.8% |
| Amounts payable within one year | 42/48 | €23,679 | €22,279 | -€1,400 | -5.9% |
| Current portion of amounts payable after more than one year | 42 | €17,357 | €17,643 | +€286 | +1.6% |
| Trade debts | 44 | €1,557 | €1,394 | -€163 | -10.5% |
| Suppliers | 440/4 | €1,557 | €1,394 | -€163 | -10.5% |
| Taxes, remuneration and social security | 45 | €4,620 | - | -€4,620 | |
| Taxes | 450/3 | €4,620 | - | -€4,620 | |
| Other amounts payable | 47/48 | €145 | €3,242 | +€3,097 | +2135.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,929 | €20,717 | +€788 | +4.0% |
| Other operating charges | 640/8 | €528 | €4,139 | +€3,611 | +683.9% |
| Gross operating margin | 9900 | €44,177 | €16,943 | -€27,234 | -61.6% |
| Operating profit (loss) | 9901 | €23,720 | -€7,913 | -€31,633 | |
| Financial income | 75/76B | €228 | - | -€228 | |
| Recurring financial income | 75 | €228 | - | -€228 | |
| Financial charges | 65/66B | €7,034 | €6,738 | -€296 | -4.2% |
| Recurring financial charges | 65 | €7,034 | €6,738 | -€296 | -4.2% |
| Profit (loss) for the period before taxes | 9903 | €16,914 | -€14,651 | -€31,565 | |
| Income taxes | 67/77 | €4,621 | €97 | -€4,524 | -97.9% |
| Profit (loss) for the period | 9904 | €12,293 | -€14,748 | -€27,041 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,293 | -€14,748 | -€27,041 |
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.