FBQ: 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.
FBQ
Largest movements
- Tangible fixed assets +€147,349
up €147,349 (+101.6%), from €145,079 to €292,428
of which Plant, machinery and equipment: +€153,375
- Cash +€10,567
up €10,567 (+361.0%), from €2,927 to €13,494
mainly Debts after one year (+€109,796) and Other debts (+€43,219)
- Debts after one year +€109,796
up €109,796 (+237.1%), from €46,299 to €156,095
- Other debts +€43,219
up €43,219 (+106.3%), from €40,644 to €83,863
- Trade debts +€41,058
up €41,058 (+169.8%), from €24,182 to €65,240
- Profit (loss) carried forward -€40,076
down €40,076 (-148.3%), from -€27,021 to -€67,098
- Current portion of long-term debt +€21,784
up €21,784 (+68.0%), from €32,014 to €53,799
- Gross operating margin -€31,179
down €31,179 (-34.1%), from €91,392 to €60,213
- Depreciation +€9,915
up €9,915 (+33.9%), from €29,278 to €39,193
- Staff costs -€5,705
down €5,705 (-10.1%), from €56,318 to €50,613
- Financial charges +€3,436
up €3,436 (+65.7%), from €5,226 to €8,662
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
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 | €180,956 | €334,787 | +€153,832 | +85.0% |
| Fixed assets | 21/28 | €163,181 | €308,031 | +€144,849 | +88.8% |
| Intangible fixed assets | 21 | €18,103 | €15,603 | -€2,500 | -13.8% |
| Tangible fixed assets | 22/27 | €145,079 | €292,428 | +€147,349 | +101.6% |
| Plant, machinery and equipment | 23 | €110,152 | €263,527 | +€153,375 | +139.2% |
| Furniture and vehicles | 24 | €21,207 | €15,196 | -€6,012 | -28.3% |
| Other tangible fixed assets | 26 | €13,720 | €13,705 | -€15 | -0.1% |
| Current assets | 29/58 | €17,774 | €26,757 | +€8,982 | +50.5% |
| Stocks and contracts in progress | 3 | €3,118 | €3,925 | +€806 | +25.9% |
| Stocks | 30/36 | €3,118 | €3,925 | +€806 | +25.9% |
| Amounts receivable within one year | 40/41 | €7,192 | €4,712 | -€2,480 | -34.5% |
| Trade receivables | 40 | - | €3,192 | +€3,192 | |
| Other amounts receivable | 41 | €7,192 | €1,520 | -€5,672 | -78.9% |
| Cash at bank and in hand | 54/58 | €2,927 | €13,494 | +€10,567 | +361.0% |
| Deferred charges and accrued income | 490/1 | €4,537 | €4,626 | +€89 | +2.0% |
| Total equity and liabilities | 10/49 | €180,956 | €334,787 | +€153,832 | +85.0% |
| Equity | 10/15 | €2,697 | -€37,380 | -€40,076 | |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €19,718 | €19,718 | = | 0.0% |
| Distributable reserves | 133 | €19,718 | €19,718 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€27,021 | -€67,098 | -€40,076 | -148.3% |
| Amounts payable | 17/49 | €178,259 | €372,167 | +€193,908 | +108.8% |
| Amounts payable after more than one year | 17 | €46,299 | €156,095 | +€109,796 | +237.1% |
| Financial debts | 170/4 | €46,299 | €156,095 | +€109,796 | +237.1% |
| Amounts payable within one year | 42/48 | €129,854 | €216,072 | +€86,218 | +66.4% |
| Current portion of amounts payable after more than one year | 42 | €32,014 | €53,799 | +€21,784 | +68.0% |
| Financial debts | 43 | €10,374 | €348 | -€10,025 | -96.6% |
| Credit institutions | 430/8 | €10,374 | €348 | -€10,025 | -96.6% |
| Trade debts | 44 | €24,182 | €65,240 | +€41,058 | +169.8% |
| Suppliers | 440/4 | €24,182 | €65,240 | +€41,058 | +169.8% |
| Taxes, remuneration and social security | 45 | €22,641 | €12,822 | -€9,818 | -43.4% |
| Taxes | 450/3 | €14,008 | €4,391 | -€9,616 | -68.7% |
| Remuneration and social security | 454/9 | €8,633 | €8,431 | -€202 | -2.3% |
| Other amounts payable | 47/48 | €40,644 | €83,863 | +€43,219 | +106.3% |
| Accrued charges and deferred income | 492/3 | €2,106 | - | -€2,106 | |
| Non-recurring operating income | 76A | - | €13,317 | +€13,317 | |
| Remuneration, social security and pensions | 62 | €56,318 | €50,613 | -€5,705 | -10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,278 | €39,193 | +€9,915 | +33.9% |
| Other operating charges | 640/8 | €1,435 | €1,623 | +€189 | +13.1% |
| Non-recurring operating charges | 66A | €25,985 | - | -€25,985 | |
| Gross operating margin | 9900 | €91,392 | €60,213 | -€31,179 | -34.1% |
| Operating profit (loss) | 9901 | -€21,623 | -€31,216 | -€9,593 | -44.4% |
| Financial income | 75/76B | €38 | €2 | -€36 | -94.4% |
| Recurring financial income | 75 | €38 | €2 | -€36 | -94.4% |
| Financial charges | 65/66B | €5,226 | €8,662 | +€3,436 | +65.7% |
| Recurring financial charges | 65 | €5,226 | €8,662 | +€3,436 | +65.7% |
| Profit (loss) for the period before taxes | 9903 | -€26,811 | -€39,875 | -€13,065 | -48.7% |
| Income taxes | 67/77 | €211 | €201 | -€10 | -4.6% |
| Profit (loss) for the period | 9904 | -€27,021 | -€40,076 | -€13,055 | -48.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,021 | -€40,076 | -€13,055 | -48.3% |
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 9 October 2026 via checked.be.