FCAP Invest: 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.
FCAP Invest
Largest movements
- Cash -€80,229
down €80,229 (-48.5%), from €165,339 to €85,110
mainly Contributions, distributions and other (-€290,000) and Debts after one year (-€63,418)
- Tangible fixed assets -€36,096
down €36,096 (-3.7%), from €969,540 to €933,444
of which Land and buildings: -€21,006
- Receivables within one year +€16,912
up €16,912 (+105%), from €16,146 to €33,057
of which Trade receivables: +€18,489
- Debts after one year -€63,418
down €63,418 (-8.4%), from €756,773 to €693,355
- Other debts -€45,177
down €45,177 (-20.0%), from €225,971 to €180,794
- Trade debts -€31,025
down €31,025 (-99.0%), from €31,336 to €311
- Current portion of long-term debt +€30,640
up €30,640 (+49.9%), from €61,430 to €92,070
- Gross operating margin +€57,514
up €57,514 (+14.3%), from €401,796 to €459,310
- Taxes +€20,542
up €20,542 (+28.0%), from €73,285 to €93,828
- Depreciation +€6,620
up €6,620 (+22.5%), from €29,476 to €36,096
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 | €1,200,859 | €1,103,945 | -€96,914 | -8.1% |
| Fixed assets | 21/28 | €971,003 | €934,907 | -€36,096 | -3.7% |
| Tangible fixed assets | 22/27 | €969,540 | €933,444 | -€36,096 | -3.7% |
| Land and buildings | 22 | €913,170 | €892,164 | -€21,006 | -2.3% |
| Furniture and vehicles | 24 | €56,371 | €41,280 | -€15,090 | -26.8% |
| Financial fixed assets | 28 | €1,463 | €1,463 | = | 0.0% |
| Current assets | 29/58 | €229,856 | €169,038 | -€60,818 | -26.5% |
| Amounts receivable within one year | 40/41 | €16,146 | €33,057 | +€16,912 | +105% |
| Trade receivables | 40 | €11,685 | €30,174 | +€18,489 | +158% |
| Other amounts receivable | 41 | €4,461 | €2,883 | -€1,578 | -35.4% |
| Current investments | 50/53 | €45,000 | €46,350 | +€1,350 | +3.0% |
| Cash at bank and in hand | 54/58 | €165,339 | €85,110 | -€80,229 | -48.5% |
| Deferred charges and accrued income | 490/1 | €3,371 | €4,521 | +€1,149 | +34.1% |
| Total equity and liabilities | 10/49 | €1,200,859 | €1,103,945 | -€96,914 | -8.1% |
| Equity | 10/15 | €111,284 | €120,526 | +€9,242 | +8.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €106,284 | €115,526 | +€9,242 | +8.7% |
| Distributable reserves | 133 | €106,284 | €115,526 | +€9,242 | +8.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €1,089,575 | €983,419 | -€106,157 | -9.7% |
| Amounts payable after more than one year | 17 | €756,773 | €693,355 | -€63,418 | -8.4% |
| Financial debts | 170/4 | €756,773 | €693,355 | -€63,418 | -8.4% |
| Amounts payable within one year | 42/48 | €327,926 | €283,580 | -€44,346 | -13.5% |
| Current portion of amounts payable after more than one year | 42 | €61,430 | €92,070 | +€30,640 | +49.9% |
| Trade debts | 44 | €31,336 | €311 | -€31,025 | -99.0% |
| Suppliers | 440/4 | €31,336 | €311 | -€31,025 | -99.0% |
| Taxes, remuneration and social security | 45 | €9,189 | €10,405 | +€1,216 | +13.2% |
| Taxes | 450/3 | €9,189 | €10,405 | +€1,216 | +13.2% |
| Other amounts payable | 47/48 | €225,971 | €180,794 | -€45,177 | -20.0% |
| Accrued charges and deferred income | 492/3 | €4,877 | €6,484 | +€1,607 | +33.0% |
| Non-recurring operating income | 76A | €151 | €0 | -€151 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,476 | €36,096 | +€6,620 | +22.5% |
| Other operating charges | 640/8 | €5,782 | €7,132 | +€1,350 | +23.3% |
| Non-recurring operating charges | 66A | - | €182 | +€182 | |
| Gross operating margin | 9900 | €401,796 | €459,310 | +€57,514 | +14.3% |
| Operating profit (loss) | 9901 | €366,538 | €415,900 | +€49,362 | +13.5% |
| Financial income | 75/76B | €5,412 | €2,964 | -€2,448 | -45.2% |
| Recurring financial income | 75 | €5,412 | €2,964 | -€2,448 | -45.2% |
| Financial charges | 65/66B | €23,808 | €25,794 | +€1,986 | +8.3% |
| Recurring financial charges | 65 | €23,808 | €25,794 | +€1,986 | +8.3% |
| Profit (loss) for the period before taxes | 9903 | €348,143 | €393,070 | +€44,927 | +12.9% |
| Income taxes | 67/77 | €73,285 | €93,828 | +€20,542 | +28.0% |
| Profit (loss) for the period | 9904 | €274,857 | €299,242 | +€24,385 | +8.9% |
| Profit (loss) for the period to be appropriated | 9905 | €274,857 | €299,242 | +€24,385 | +8.9% |
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 21 October 2026 via checked.be.