F.P.A. MANAGEMENT: 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.P.A. MANAGEMENT
Largest movements
- Tangible fixed assets -€333,898
down €333,898 (-100%), from €333,898 to €0
of which Land and buildings: -€327,775
- Cash +€172,641
up €172,641 (+226%), from €76,363 to €249,004
mainly Investment in fixed assets (net) (+€327,775) and Depreciation (+€6,123)
- Receivables within one year +€7,784
up €7,784 (+98.2%), from €7,927 to €15,712
of which Other amounts receivable: +€7,758
- Other debts -€136,012
down €136,012 (-48.2%), from €282,440 to €146,429
- Debts after one year -€20,176
down €20,176 (-26.5%), from €76,191 to €56,015
- Gross operating margin -€29,934
down €29,934 (-75.3%), from €39,776 to €9,842
- Depreciation -€13,958
down €13,958 (-69.5%), from €20,082 to €6,123
- Taxes -€4,525
down €4,525 (-74.0%), from €6,111 to €1,586
- Financial income +€1,774
up €1,774 (+54.9%), from €3,229 to €5,003
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 | €521,106 | €369,859 | -€151,247 | -29.0% |
| Fixed assets | 21/28 | €333,898 | €0 | -€333,898 | -100% |
| Tangible fixed assets | 22/27 | €333,898 | €0 | -€333,898 | -100% |
| Land and buildings | 22 | €327,775 | €0 | -€327,775 | -100% |
| Furniture and vehicles | 24 | €6,123 | €0 | -€6,123 | -100% |
| Current assets | 29/58 | €187,208 | €369,859 | +€182,651 | +97.6% |
| Amounts receivable within one year | 40/41 | €7,927 | €15,712 | +€7,784 | +98.2% |
| Trade receivables | 40 | €3,378 | €3,405 | +€27 | +0.8% |
| Other amounts receivable | 41 | €4,549 | €12,307 | +€7,758 | +171% |
| Current investments | 50/53 | €102,881 | €104,193 | +€1,312 | +1.3% |
| Cash at bank and in hand | 54/58 | €76,363 | €249,004 | +€172,641 | +226% |
| Deferred charges and accrued income | 490/1 | €36 | €949 | +€913 | +2,528% |
| Total equity and liabilities | 10/49 | €521,106 | €369,859 | -€151,247 | -29.0% |
| Equity | 10/15 | €142,399 | €145,602 | +€3,202 | +2.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €123,799 | €127,002 | +€3,202 | +2.6% |
| Tax-exempt reserves | 132 | €285 | €285 | = | 0.0% |
| Distributable reserves | 133 | €123,515 | €126,717 | +€3,202 | +2.6% |
| Amounts payable | 17/49 | €378,706 | €224,257 | -€154,450 | -40.8% |
| Amounts payable after more than one year | 17 | €76,191 | €56,015 | -€20,176 | -26.5% |
| Financial debts | 170/4 | €76,191 | €56,015 | -€20,176 | -26.5% |
| Amounts payable within one year | 42/48 | €302,515 | €168,242 | -€134,273 | -44.4% |
| Current portion of amounts payable after more than one year | 42 | €20,074 | €20,176 | +€102 | +0.5% |
| Trade debts | 44 | €0 | €418 | +€418 | |
| Suppliers | 440/4 | €0 | €418 | +€418 | |
| Taxes, remuneration and social security | 45 | €0 | €1,218 | +€1,218 | |
| Taxes | 450/3 | €0 | €1,218 | +€1,218 | |
| Other amounts payable | 47/48 | €282,440 | €146,429 | -€136,012 | -48.2% |
| Non-recurring operating income | 76A | - | €12,225 | +€12,225 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,082 | €6,123 | -€13,958 | -69.5% |
| Other operating charges | 640/8 | €3,331 | €3,432 | +€101 | +3.0% |
| Gross operating margin | 9900 | €39,776 | €9,842 | -€29,934 | -75.3% |
| Operating profit (loss) | 9901 | €16,363 | €287 | -€16,076 | -98.2% |
| Financial income | 75/76B | €3,229 | €5,003 | +€1,774 | +54.9% |
| Recurring financial income | 75 | €3,229 | €5,003 | +€1,774 | +54.9% |
| Financial charges | 65/66B | €675 | €501 | -€174 | -25.7% |
| Recurring financial charges | 65 | €675 | €501 | -€174 | -25.7% |
| Profit (loss) for the period before taxes | 9903 | €18,918 | €4,789 | -€14,129 | -74.7% |
| Income taxes | 67/77 | €6,111 | €1,586 | -€4,525 | -74.0% |
| Profit (loss) for the period | 9904 | €12,806 | €3,202 | -€9,604 | -75.0% |
| Profit (loss) for the period to be appropriated | 9905 | €12,806 | €3,202 | -€9,604 | -75.0% |
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 23 October 2026 via checked.be.