FC 18-21: 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.
FC 18-21
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Other debts +€36,661
up €36,661 (+2.8%), from €1.3m to €1.3m
- Debts after one year -€35,379
down €35,379 (-5.0%), from €710,905 to €675,525
- Trade debts -€31,317
down €31,317 (-75.5%), from €41,501 to €10,184
- Gross operating margin +€6,384
up €6,384 (+10.2%), from €62,392 to €68,775
- Depreciation +€2,172
up €2,172 (+6.9%), from €31,281 to €33,453
- Financial charges -€1,112
down €1,112 (-3.8%), from €29,339 to €28,227
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 | €2,194,175 | €2,176,081 | -€18,094 | -0.8% |
| Fixed assets | 21/28 | €2,144,396 | €2,134,367 | -€10,030 | -0.5% |
| Tangible fixed assets | 22/27 | €2,141,276 | €2,131,247 | -€10,030 | -0.5% |
| Land and buildings | 22 | €2,139,208 | €2,129,399 | -€9,810 | -0.5% |
| Plant, machinery and equipment | 23 | €2,068 | €1,848 | -€220 | -10.6% |
| Financial fixed assets | 28 | €3,120 | €3,120 | = | 0.0% |
| Current assets | 29/58 | €49,779 | €41,714 | -€8,065 | -16.2% |
| Amounts receivable within one year | 40/41 | €46,683 | €41,339 | -€5,345 | -11.4% |
| Trade receivables | 40 | €43,863 | €40,092 | -€3,770 | -8.6% |
| Other amounts receivable | 41 | €2,821 | €1,247 | -€1,574 | -55.8% |
| Cash at bank and in hand | 54/58 | €3,096 | €376 | -€2,720 | -87.9% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €2,194,175 | €2,176,081 | -€18,094 | -0.8% |
| Equity | 10/15 | -€4,993 | €959 | +€5,953 | |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€54,993 | -€49,041 | +€5,953 | +10.8% |
| Amounts payable | 17/49 | €2,199,169 | €2,175,122 | -€24,047 | -1.1% |
| Amounts payable after more than one year | 17 | €710,905 | €675,525 | -€35,379 | -5.0% |
| Financial debts | 170/4 | €710,905 | €675,525 | -€35,379 | -5.0% |
| Amounts payable within one year | 42/48 | €1,488,264 | €1,499,596 | +€11,332 | +0.8% |
| Current portion of amounts payable after more than one year | 42 | €34,050 | €35,379 | +€1,329 | +3.9% |
| Trade debts | 44 | €41,501 | €10,184 | -€31,317 | -75.5% |
| Suppliers | 440/4 | €41,501 | €10,184 | -€31,317 | -75.5% |
| Taxes, remuneration and social security | 45 | €121,584 | €126,242 | +€4,658 | +3.8% |
| Taxes | 450/3 | €121,584 | €126,242 | +€4,658 | +3.8% |
| Other amounts payable | 47/48 | €1,291,130 | €1,327,791 | +€36,661 | +2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,281 | €33,453 | +€2,172 | +6.9% |
| Other operating charges | 640/8 | €1,381 | €1,143 | -€239 | -17.3% |
| Gross operating margin | 9900 | €62,392 | €68,775 | +€6,384 | +10.2% |
| Operating profit (loss) | 9901 | €29,729 | €34,180 | +€4,450 | +15.0% |
| Financial income | 75/76B | €18 | €0 | -€18 | -100.0% |
| Recurring financial income | 75 | €18 | €0 | -€18 | -100.0% |
| Financial charges | 65/66B | €29,339 | €28,227 | -€1,112 | -3.8% |
| Recurring financial charges | 65 | €29,339 | €28,227 | -€1,112 | -3.8% |
| Profit (loss) for the period before taxes | 9903 | €409 | €5,953 | +€5,544 | +1356.0% |
| Profit (loss) for the period | 9904 | €409 | €5,953 | +€5,544 | +1356.0% |
| Profit (loss) for the period to be appropriated | 9905 | €409 | €5,953 | +€5,544 | +1356.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.