F.P.C.: 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.P.C.
Largest movements
- Cash +€218,591
up €218,591 (+110.8%), from €197,255 to €415,846
- Tangible fixed assets -€218,476
down €218,476 (-56.8%), from €384,593 to €166,117
of which Land and buildings: -€207,145
- Receivables within one year -€30,218
down €30,218 (-15.2%), from €198,513 to €168,295
of which Other amounts receivable: -€24,464
- Reserves +€186,736
up €186,736 (+66.3%), from €281,504 to €468,240
of which Distributable reserves: +€204,729
- Debts after one year -€131,833
down €131,833 (-63.7%), from €206,850 to €75,016
- Other debts -€57,392
down €57,392 (-97.6%), from €58,780 to €1,388
- Provisions -€27,202
no longer reported in 2025 (was €27,202)
- Tax, wage and social debts +€11,053
up €11,053 (+10.5%), from €105,214 to €116,268
of which Remuneration and social security: +€21,007
- Gross operating margin +€402,201
up €402,201 (+77.9%), from €516,575 to €918,776
- Staff costs +€264,709
up €264,709 (+82.6%), from €320,449 to €585,158
- Financial income +€179,238
up €179,238 (+856.4%), from €20,930 to €200,168
- Taxes +€32,138
up €32,138 (+82.9%), from €38,774 to €70,912
- Depreciation +€20,913
up €20,913 (+63.0%), from €33,215 to €54,127
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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €830,204 | €798,166 | -€32,039 | -3.9% |
| Fixed assets | 21/28 | €389,391 | €166,557 | -€222,834 | -57.2% |
| Intangible fixed assets | 21 | €1,648 | €390 | -€1,258 | -76.3% |
| Tangible fixed assets | 22/27 | €384,593 | €166,117 | -€218,476 | -56.8% |
| Land and buildings | 22 | €284,607 | €77,462 | -€207,145 | -72.8% |
| Plant, machinery and equipment | 23 | €2,396 | €661 | -€1,734 | -72.4% |
| Furniture and vehicles | 24 | €97,590 | €87,994 | -€9,597 | -9.8% |
| Financial fixed assets | 28 | €3,150 | €50 | -€3,100 | -98.4% |
| Current assets | 29/58 | €440,814 | €631,608 | +€190,795 | +43.3% |
| Stocks and contracts in progress | 3 | €39,024 | €35,485 | -€3,540 | -9.1% |
| Stocks | 30/36 | €39,024 | €35,485 | -€3,540 | -9.1% |
| Amounts receivable within one year | 40/41 | €198,513 | €168,295 | -€30,218 | -15.2% |
| Trade receivables | 40 | €166,807 | €161,052 | -€5,755 | -3.4% |
| Other amounts receivable | 41 | €31,707 | €7,243 | -€24,464 | -77.2% |
| Cash at bank and in hand | 54/58 | €197,255 | €415,846 | +€218,591 | +110.8% |
| Deferred charges and accrued income | 490/1 | €6,021 | €11,983 | +€5,961 | +99.0% |
| Total equity and liabilities | 10/49 | €830,204 | €798,166 | -€32,039 | -3.9% |
| Equity | 10/15 | €287,701 | €472,297 | +€184,596 | +64.2% |
| Contributions | 10/11 | €6,197 | €4,057 | -€2,140 | -34.5% |
| Outside capital | 11 | €6,197 | €4,057 | -€2,140 | -34.5% |
| Other | 1109/19 | €6,197 | €4,057 | -€2,140 | -34.5% |
| Reserves | 13 | €281,504 | €468,240 | +€186,736 | +66.3% |
| Tax-exempt reserves | 132 | €81,605 | €63,612 | -€17,993 | -22.0% |
| Distributable reserves | 133 | €199,899 | €404,628 | +€204,729 | +102.4% |
| Provisions and deferred taxes | 16 | €27,202 | - | -€27,202 | |
| Deferred taxes | 168 | €27,202 | - | -€27,202 | |
| Amounts payable | 17/49 | €515,301 | €325,868 | -€189,433 | -36.8% |
| Amounts payable after more than one year | 17 | €206,850 | €75,016 | -€131,833 | -63.7% |
| Financial debts | 170/4 | €206,850 | €75,016 | -€131,833 | -63.7% |
| Amounts payable within one year | 42/48 | €308,451 | €250,852 | -€57,599 | -18.7% |
| Current portion of amounts payable after more than one year | 42 | €41,363 | €31,911 | -€9,452 | -22.9% |
| Financial debts | 43 | €19,273 | €12,439 | -€6,834 | -35.5% |
| Credit institutions | 430/8 | €19,273 | €12,439 | -€6,834 | -35.5% |
| Trade debts | 44 | €83,821 | €88,846 | +€5,025 | +6.0% |
| Suppliers | 440/4 | €83,821 | €88,846 | +€5,025 | +6.0% |
| Taxes, remuneration and social security | 45 | €105,214 | €116,268 | +€11,053 | +10.5% |
| Taxes | 450/3 | €61,973 | €52,019 | -€9,954 | -16.1% |
| Remuneration and social security | 454/9 | €43,241 | €64,248 | +€21,007 | +48.6% |
| Other amounts payable | 47/48 | €58,780 | €1,388 | -€57,392 | -97.6% |
| Remuneration, social security and pensions | 62 | €320,449 | €585,158 | +€264,709 | +82.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,215 | €54,127 | +€20,913 | +63.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €16,247 | €11,283 | -€4,964 | -30.6% |
| Other operating charges | 640/8 | €6,524 | €6,255 | -€269 | -4.1% |
| Gross operating margin | 9900 | €516,575 | €918,776 | +€402,201 | +77.9% |
| Operating profit (loss) | 9901 | €140,141 | €261,953 | +€121,812 | +86.9% |
| Financial income | 75/76B | €20,930 | €200,168 | +€179,238 | +856.4% |
| Recurring financial income | 75 | €20,930 | €200,168 | +€179,238 | +856.4% |
| Financial charges | 65/66B | €5,825 | €9,140 | +€3,315 | +56.9% |
| Recurring financial charges | 65 | €5,825 | €9,140 | +€3,315 | +56.9% |
| Profit (loss) for the period before taxes | 9903 | €155,246 | €452,981 | +€297,735 | +191.8% |
| Transfer from deferred taxes | 780 | €2,327 | €2,327 | = | 0.0% |
| Income taxes | 67/77 | €38,774 | €70,912 | +€32,138 | +82.9% |
| Profit (loss) for the period | 9904 | €118,799 | €384,396 | +€265,597 | +223.6% |
| Transfer from tax-exempt reserves | 789 | €6,981 | €8,505 | +€1,523 | +21.8% |
| Profit (loss) for the period to be appropriated | 9905 | €125,781 | €392,901 | +€267,121 | +212.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 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.