F.K.R.: 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.K.R.
Largest movements
- Tangible fixed assets -€20,685
down €20,685 (-18.3%), from €112,983 to €92,298
of which Plant, machinery and equipment: -€10,924
- Receivables within one year +€15,736
up €15,736 (+17.3%), from €90,869 to €106,606
of which Trade receivables: +€10,529
- Debts after one year -€19,029
down €19,029 (-36.0%), from €52,896 to €33,867
- Trade debts +€9,835
up €9,835 (+34.5%), from €28,481 to €38,317
- Tax, wage and social debts +€9,191
up €9,191 (+11.2%), from €81,701 to €90,892
of which Remuneration and social security: +€8,747
- Other debts -€4,913
down €4,913 (-6.3%), from €77,652 to €72,739
- Staff costs +€77,605
up €77,605 (+15.2%), from €510,218 to €587,823
- Gross operating margin +€45,873
up €45,873 (+6.8%), from €670,426 to €716,299
- Taxes -€10,882
down €10,882 (-27.4%), from €39,749 to €28,867
- Depreciation +€8,709
up €8,709 (+67.4%), from €12,925 to €21,635
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 | €460,041 | €457,425 | -€2,616 | -0.6% |
| Fixed assets | 21/28 | €114,359 | €93,674 | -€20,685 | -18.1% |
| Tangible fixed assets | 22/27 | €112,983 | €92,298 | -€20,685 | -18.3% |
| Land and buildings | 22 | €13,444 | €13,259 | -€186 | -1.4% |
| Plant, machinery and equipment | 23 | €55,728 | €44,804 | -€10,924 | -19.6% |
| Furniture and vehicles | 24 | €377 | €177 | -€200 | -53.0% |
| Leasing and similar rights | 25 | €43,434 | €34,058 | -€9,375 | -21.6% |
| Financial fixed assets | 28 | €1,376 | €1,376 | = | 0.0% |
| Current assets | 29/58 | €345,682 | €363,751 | +€18,069 | +5.2% |
| Stocks and contracts in progress | 3 | €10,740 | €12,250 | +€1,510 | +14.1% |
| Stocks | 30/36 | €10,740 | €12,250 | +€1,510 | +14.1% |
| Amounts receivable within one year | 40/41 | €90,869 | €106,606 | +€15,736 | +17.3% |
| Trade receivables | 40 | €17,548 | €28,076 | +€10,529 | +60.0% |
| Other amounts receivable | 41 | €73,322 | €78,529 | +€5,208 | +7.1% |
| Cash at bank and in hand | 54/58 | €231,734 | €230,473 | -€1,261 | -0.5% |
| Deferred charges and accrued income | 490/1 | €12,339 | €14,423 | +€2,084 | +16.9% |
| Total equity and liabilities | 10/49 | €460,041 | €457,425 | -€2,616 | -0.6% |
| Equity | 10/15 | €193,040 | €194,472 | +€1,432 | +0.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €172,859 | €172,859 | = | 0.0% |
| Distributable reserves | 133 | €172,859 | €172,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,589 | €3,021 | +€1,432 | +90.2% |
| Amounts payable | 17/49 | €267,001 | €262,953 | -€4,048 | -1.5% |
| Amounts payable after more than one year | 17 | €52,896 | €33,867 | -€19,029 | -36.0% |
| Financial debts | 170/4 | €52,896 | €33,867 | -€19,029 | -36.0% |
| Amounts payable within one year | 42/48 | €214,105 | €229,086 | +€14,981 | +7.0% |
| Current portion of amounts payable after more than one year | 42 | €26,271 | €27,138 | +€867 | +3.3% |
| Trade debts | 44 | €28,481 | €38,317 | +€9,835 | +34.5% |
| Suppliers | 440/4 | €28,481 | €38,317 | +€9,835 | +34.5% |
| Taxes, remuneration and social security | 45 | €81,701 | €90,892 | +€9,191 | +11.2% |
| Taxes | 450/3 | €23,820 | €24,264 | +€444 | +1.9% |
| Remuneration and social security | 454/9 | €57,881 | €66,628 | +€8,747 | +15.1% |
| Other amounts payable | 47/48 | €77,652 | €72,739 | -€4,913 | -6.3% |
| Non-recurring operating income | 76A | €500 | €0 | -€500 | -100% |
| Remuneration, social security and pensions | 62 | €510,218 | €587,823 | +€77,605 | +15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,925 | €21,635 | +€8,709 | +67.4% |
| Other operating charges | 640/8 | €1,887 | €102 | -€1,785 | -94.6% |
| Gross operating margin | 9900 | €670,426 | €716,299 | +€45,873 | +6.8% |
| Operating profit (loss) | 9901 | €145,395 | €106,739 | -€38,656 | -26.6% |
| Financial income | 75/76B | €1,558 | €1,010 | -€549 | -35.2% |
| Recurring financial income | 75 | €1,558 | €1,010 | -€549 | -35.2% |
| Financial charges | 65/66B | €3,881 | €5,449 | +€1,569 | +40.4% |
| Recurring financial charges | 65 | €3,881 | €5,449 | +€1,569 | +40.4% |
| Profit (loss) for the period before taxes | 9903 | €143,073 | €102,299 | -€40,774 | -28.5% |
| Income taxes | 67/77 | €39,749 | €28,867 | -€10,882 | -27.4% |
| Profit (loss) for the period | 9904 | €103,324 | €73,432 | -€29,892 | -28.9% |
| Profit (loss) for the period to be appropriated | 9905 | €103,324 | €73,432 | -€29,892 | -28.9% |
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 25 October 2026 via checked.be.