F.S.D.S.: 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.
What changed
F.S.D.S.
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€132
2024 · -€6,721+€6,589
Equity
€81,899
2024 · €82,031-€132
Cash
€164
2024 · -+€164
Balance sheet total
€433,170
2024 · €452,243-€19,073
Largest movements
Assets
- Tangible fixed assets -€19,289
down €19,289 (-4.3%), from €447,349 to €428,060
of which Land and buildings: -€19,289
Equity and liabilities
- Debts after one year -€9,897
down €9,897 (-11.1%), from €89,045 to €79,148
- Other debts -€5,295
down €5,295 (-2.2%), from €241,274 to €235,980
Income statement
- Gross operating margin +€6,524
up €6,524 (+34.0%), from €19,198 to €25,722
- Financial charges -€361
down €361 (-15.4%), from €2,340 to €1,979
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.
Result 2024
-€6,721
Gross operating margin
+€6,524
Depreciation
-€79
Other operating charges
-€213
Financial income
-€0
Financial charges
+€361
Taxes
-€4
Result 2025
-€132
raises the resultlowers the result
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.
From operations
+€10,876
Investment
€0
Financing
-€10,712
Cash 2024
€0
From operations (derived)
+€10,876
Net result for the year
-€132
Depreciation
+€19,289
Deferred charges and accrued income
-€52
Provisions
-€1,059
Trade debts
-€1,708
Tax, wage and social debts
+€4
Other debts
-€5,295
Accrued charges and deferred income
-€171
Financing
-€10,712
Debts after one year
-€9,897
Current portion of long-term debt
-€815
Cash 2025
€164
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €452,243 | €433,170 | -€19,073 | -4.2% |
| Fixed assets | 21/28 | €447,529 | €428,240 | -€19,289 | -4.3% |
| Tangible fixed assets | 22/27 | €447,349 | €428,060 | -€19,289 | -4.3% |
| Land and buildings | 22 | €447,349 | €428,060 | -€19,289 | -4.3% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €4,714 | €4,930 | +€216 | +4.6% |
| Amounts receivable after more than one year | 29 | €3,799 | €3,799 | = | 0.0% |
| Other amounts receivable | 291 | €3,799 | €3,799 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | - | €164 | +€164 | |
| Deferred charges and accrued income | 490/1 | €915 | €968 | +€52 | +5.7% |
| Total equity and liabilities | 10/49 | €452,243 | €433,170 | -€19,073 | -4.2% |
| Equity | 10/15 | €82,031 | €81,899 | -€132 | -0.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €94,703 | €91,525 | -€3,178 | -3.4% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €77,658 | €74,480 | -€3,178 | -4.1% |
| Distributable reserves | 133 | €10,845 | €10,845 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€74,672 | -€71,626 | +€3,046 | +4.1% |
| Provisions and deferred taxes | 16 | €25,886 | €24,827 | -€1,059 | -4.1% |
| Deferred taxes | 168 | €25,886 | €24,827 | -€1,059 | -4.1% |
| Amounts payable | 17/49 | €344,326 | €326,444 | -€17,882 | -5.2% |
| Amounts payable after more than one year | 17 | €89,045 | €79,148 | -€9,897 | -11.1% |
| Financial debts | 170/4 | €89,045 | €79,148 | -€9,897 | -11.1% |
| Amounts payable within one year | 42/48 | €254,557 | €246,743 | -€7,814 | -3.1% |
| Current portion of amounts payable after more than one year | 42 | €10,712 | €9,897 | -€815 | -7.6% |
| Trade debts | 44 | €2,499 | €791 | -€1,708 | -68.4% |
| Suppliers | 440/4 | €2,499 | €791 | -€1,708 | -68.4% |
| Taxes, remuneration and social security | 45 | €71 | €75 | +€4 | +5.5% |
| Taxes | 450/3 | €71 | €75 | +€4 | +5.5% |
| Other amounts payable | 47/48 | €241,274 | €235,980 | -€5,295 | -2.2% |
| Accrued charges and deferred income | 492/3 | €725 | €554 | -€171 | -23.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,211 | €19,289 | +€79 | +0.4% |
| Other operating charges | 640/8 | €5,356 | €5,569 | +€213 | +4.0% |
| Gross operating margin | 9900 | €19,198 | €25,722 | +€6,524 | +34.0% |
| Operating profit (loss) | 9901 | -€5,369 | €863 | +€6,232 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €2,340 | €1,979 | -€361 | -15.4% |
| Recurring financial charges | 65 | €2,340 | €1,979 | -€361 | -15.4% |
| Profit (loss) for the period before taxes | 9903 | -€7,709 | -€1,116 | +€6,593 | +85.5% |
| Transfer from deferred taxes | 780 | €1,059 | €1,059 | = | 0.0% |
| Income taxes | 67/77 | €71 | €75 | +€4 | +5.5% |
| Profit (loss) for the period | 9904 | -€6,721 | -€132 | +€6,589 | +98.0% |
| Transfer from tax-exempt reserves | 789 | €3,178 | €3,178 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,543 | €3,046 | +€6,589 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.