F.S.B.: 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.S.B.
Largest movements
- Cash -€99,123
down €99,123 (-77.2%), from €128,465 to €29,341
mainly Net result for the year (-€130,469) and Investment in fixed assets (net) (-€114,442)
- Receivables within one year +€84,521
up €84,521 (+16.5%), from €512,218 to €596,739
of which Trade receivables: +€60,300
- Tangible fixed assets -€43,360
down €43,360 (-2.0%), from €2.1m to €2.1m
of which Land and buildings: -€42,660
- Reserves -€83,717
down €83,717 (-11.1%), from €751,462 to €667,745
of which Tax-exempt reserves: -€83,717
- Debts after one year +€71,050
up €71,050 (+2.0%), from €3.6m to €3.6m
- Profit (loss) carried forward -€46,752
down €46,752 (-2.1%), from -€2.2m to -€2.3m
- Provisions -€27,906
down €27,906 (-6.2%), from €453,229 to €425,323
- Financial charges +€17,150
up €17,150 (+7.6%), from €225,019 to €242,170
- Gross operating margin +€9,628
up €9,628 (+3.3%), from €288,245 to €297,873
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 | €2,778,163 | €2,720,201 | -€57,962 | -2.1% |
| Fixed assets | 21/28 | €2,137,480 | €2,094,120 | -€43,360 | -2.0% |
| Tangible fixed assets | 22/27 | €2,137,480 | €2,094,120 | -€43,360 | -2.0% |
| Land and buildings | 22 | €2,131,180 | €2,088,520 | -€42,660 | -2.0% |
| Plant, machinery and equipment | 23 | €6,300 | €5,600 | -€700 | -11.1% |
| Current assets | 29/58 | €640,683 | €626,081 | -€14,602 | -2.3% |
| Amounts receivable within one year | 40/41 | €512,218 | €596,739 | +€84,521 | +16.5% |
| Trade receivables | 40 | €119,400 | €179,700 | +€60,300 | +50.5% |
| Other amounts receivable | 41 | €392,818 | €417,039 | +€24,221 | +6.2% |
| Cash at bank and in hand | 54/58 | €128,465 | €29,341 | -€99,123 | -77.2% |
| Total equity and liabilities | 10/49 | €2,778,163 | €2,720,201 | -€57,962 | -2.1% |
| Equity | 10/15 | -€1,431,592 | -€1,562,061 | -€130,469 | -9.1% |
| Contributions | 10/11 | €64,000 | €64,000 | = | 0.0% |
| Capital | 10 | €64,000 | €64,000 | = | 0.0% |
| Issued capital | 100 | €64,000 | €64,000 | = | 0.0% |
| Reserves | 13 | €751,462 | €667,745 | -€83,717 | -11.1% |
| Non-distributable reserves | 130/1 | €88,462 | €88,462 | = | 0.0% |
| Legal reserve | 130 | €87,222 | €87,222 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,239 | €1,239 | = | 0.0% |
| Tax-exempt reserves | 132 | €663,000 | €579,283 | -€83,717 | -12.6% |
| Profit (loss) carried forward | 14 | -€2,247,054 | -€2,293,806 | -€46,752 | -2.1% |
| Provisions and deferred taxes | 16 | €453,229 | €425,323 | -€27,906 | -6.2% |
| Deferred taxes | 168 | €453,229 | €425,323 | -€27,906 | -6.2% |
| Amounts payable | 17/49 | €3,756,526 | €3,856,939 | +€100,413 | +2.7% |
| Amounts payable after more than one year | 17 | €3,554,096 | €3,625,146 | +€71,050 | +2.0% |
| Financial debts | 170/4 | €3,554,096 | €3,625,146 | +€71,050 | +2.0% |
| Amounts payable within one year | 42/48 | €202,430 | €231,793 | +€29,362 | +14.5% |
| Current portion of amounts payable after more than one year | 42 | €153,704 | €153,704 | = | 0.0% |
| Trade debts | 44 | €43,883 | €66,961 | +€23,077 | +52.6% |
| Suppliers | 440/4 | €43,883 | €66,961 | +€23,077 | +52.6% |
| Taxes, remuneration and social security | 45 | €4,843 | €11,128 | +€6,285 | +130% |
| Taxes | 450/3 | €4,843 | €11,128 | +€6,285 | +130% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €157,802 | €157,802 | = | 0.0% |
| Other operating charges | 640/8 | €15,586 | €16,944 | +€1,358 | +8.7% |
| Gross operating margin | 9900 | €288,245 | €297,873 | +€9,628 | +3.3% |
| Operating profit (loss) | 9901 | €114,857 | €123,128 | +€8,270 | +7.2% |
| Financial income | 75/76B | €10 | €0 | -€10 | -100% |
| Recurring financial income | 75 | €10 | €0 | -€10 | -100% |
| Financial charges | 65/66B | €225,019 | €242,170 | +€17,150 | +7.6% |
| Recurring financial charges | 65 | €225,019 | €242,170 | +€17,150 | +7.6% |
| Profit (loss) for the period before taxes | 9903 | -€110,152 | -€119,042 | -€8,889 | -8.1% |
| Transfer from deferred taxes | 780 | €27,906 | €27,906 | = | 0.0% |
| Income taxes | 67/77 | €37,937 | €39,333 | +€1,396 | +3.7% |
| Profit (loss) for the period | 9904 | -€120,183 | -€130,469 | -€10,286 | -8.6% |
| Transfer from tax-exempt reserves | 789 | €83,717 | €83,717 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€36,466 | -€46,752 | -€10,286 | -28.2% |
Source: filed annual accounts (NBB), financial years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.