F.T’ ELEC: 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.T’ ELEC
Largest movements
- Receivables within one year +€76,944
up €76,944 (+46.6%), from €165,113 to €242,057
of which Trade receivables: +€76,130
- Intangible fixed assets -€10,718
down €10,718 (-50.0%), from €21,419 to €10,701
- Cash -€8,368
down €8,368 (-20.7%), from €40,481 to €32,113
mainly Receivables within one year (-€76,944) and Debts after one year (-€9,601)
- Tangible fixed assets -€4,792
down €4,792 (-54.4%), from €8,817 to €4,025
of which Furniture and vehicles: -€2,613
- Trade debts +€26,251
up €26,251 (+86.5%), from €30,354 to €56,605
- Other debts +€24,803
up €24,803 (+146%), from €17,034 to €41,837
- Debts after one year -€9,601
down €9,601 (-39.3%), from €24,421 to €14,820
- Profit (loss) carried forward +€8,376
up €8,376 (+6.2%), from €135,199 to €143,575
- Tax, wage and social debts +€6,972
up €6,972 (+65.5%), from €10,642 to €17,614
of which Remuneration and social security: +€6,095
- Staff costs +€70,305
up €70,305 (+127%), from €55,367 to €125,672
- Gross operating margin +€48,547
up €48,547 (+40.0%), from €121,302 to €169,849
- Write-downs +€13,171
new in 2025: €13,171
- Taxes -€5,200
down €5,200 (-55.4%), from €9,387 to €4,187
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 | €239,418 | €294,552 | +€55,134 | +23.0% |
| Fixed assets | 21/28 | €30,461 | €14,952 | -€15,510 | -50.9% |
| Intangible fixed assets | 21 | €21,419 | €10,701 | -€10,718 | -50.0% |
| Tangible fixed assets | 22/27 | €8,817 | €4,025 | -€4,792 | -54.4% |
| Plant, machinery and equipment | 23 | €5,037 | €2,858 | -€2,179 | -43.3% |
| Furniture and vehicles | 24 | €3,780 | €1,167 | -€2,613 | -69.1% |
| Financial fixed assets | 28 | €225 | €225 | = | 0.0% |
| Current assets | 29/58 | €208,956 | €279,600 | +€70,644 | +33.8% |
| Stocks and contracts in progress | 3 | €3,134 | €3,366 | +€231 | +7.4% |
| Stocks | 30/36 | €3,134 | €3,366 | +€231 | +7.4% |
| Amounts receivable within one year | 40/41 | €165,113 | €242,057 | +€76,944 | +46.6% |
| Trade receivables | 40 | €141,161 | €217,292 | +€76,130 | +53.9% |
| Other amounts receivable | 41 | €23,952 | €24,766 | +€814 | +3.4% |
| Cash at bank and in hand | 54/58 | €40,481 | €32,113 | -€8,368 | -20.7% |
| Deferred charges and accrued income | 490/1 | €228 | €2,064 | +€1,836 | +806% |
| Total equity and liabilities | 10/49 | €239,418 | €294,552 | +€55,134 | +23.0% |
| Equity | 10/15 | €137,699 | €146,075 | +€8,376 | +6.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €135,199 | €143,575 | +€8,376 | +6.2% |
| Amounts payable | 17/49 | €101,718 | €148,476 | +€46,758 | +46.0% |
| Amounts payable after more than one year | 17 | €24,421 | €14,820 | -€9,601 | -39.3% |
| Financial debts | 170/4 | €24,421 | €14,820 | -€9,601 | -39.3% |
| Amounts payable within one year | 42/48 | €77,298 | €133,656 | +€56,359 | +72.9% |
| Current portion of amounts payable after more than one year | 42 | €11,267 | €9,601 | -€1,667 | -14.8% |
| Financial debts | 43 | €8,000 | €8,000 | = | 0.0% |
| Credit institutions | 430/8 | €8,000 | €8,000 | = | 0.0% |
| Trade debts | 44 | €30,354 | €56,605 | +€26,251 | +86.5% |
| Suppliers | 440/4 | €30,354 | €56,605 | +€26,251 | +86.5% |
| Taxes, remuneration and social security | 45 | €10,642 | €17,614 | +€6,972 | +65.5% |
| Taxes | 450/3 | €4,125 | €5,002 | +€877 | +21.3% |
| Remuneration and social security | 454/9 | €6,517 | €12,612 | +€6,095 | +93.5% |
| Other amounts payable | 47/48 | €17,034 | €41,837 | +€24,803 | +146% |
| Remuneration, social security and pensions | 62 | €55,367 | €125,672 | +€70,305 | +127% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,330 | €15,510 | -€821 | -5.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €13,171 | +€13,171 | |
| Other operating charges | 640/8 | €1,121 | €1,149 | +€28 | +2.5% |
| Gross operating margin | 9900 | €121,302 | €169,849 | +€48,547 | +40.0% |
| Operating profit (loss) | 9901 | €48,484 | €14,348 | -€34,136 | -70.4% |
| Financial income | 75/76B | €315 | €96 | -€218 | -69.4% |
| Recurring financial income | 75 | €315 | €96 | -€218 | -69.4% |
| Financial charges | 65/66B | €3,401 | €1,881 | -€1,520 | -44.7% |
| Recurring financial charges | 65 | €3,401 | €1,881 | -€1,520 | -44.7% |
| Profit (loss) for the period before taxes | 9903 | €45,398 | €12,563 | -€32,834 | -72.3% |
| Income taxes | 67/77 | €9,387 | €4,187 | -€5,200 | -55.4% |
| Profit (loss) for the period | 9904 | €36,011 | €8,376 | -€27,635 | -76.7% |
| Profit (loss) for the period to be appropriated | 9905 | €36,011 | €8,376 | -€27,635 | -76.7% |
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 18 October 2026 via checked.be.