FCL: 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.
FCL
Largest movements
- Current investments -€899,995
down €899,995 (-99.1%), from €907,833 to €7,839
- Receivables within one year +€463,425
up €463,425 (+70.0%), from €661,745 to €1.1m
of which Trade receivables: +€266,437
- Cash -€252,705
down €252,705 (-41.7%), from €605,792 to €353,087
mainly Debts after one year (-€883,000) and Receivables within one year (-€463,425)
- Tangible fixed assets +€68,988
up €68,988 (+110.6%), from €62,369 to €131,357
of which Plant, machinery and equipment: +€74,566
- Receivables after one year +€60,850
up €60,850 (+15.8%), from €383,995 to €444,845
- Debts after one year -€883,000
no longer reported in 2025 (was €883,000)
- Trade debts +€246,299
up €246,299 (+109.6%), from €224,816 to €471,115
- Current portion of long-term debt +€112,905
up €112,905 (+752.7%), from €15,000 to €127,905
- Other debts -€70,627
no longer reported in 2025 (was €70,627)
- Profit (loss) carried forward +€64,323
up €64,323 (+3.9%), from €1.7m to €1.7m
- Gross operating margin -€303,480
down €303,480 (-41.5%), from €732,086 to €428,606
- Taxes -€71,634
down €71,634 (-64.9%), from €110,384 to €38,749
- Financial income -€70,928
down €70,928 (-86.7%), from €81,778 to €10,850
- Write-downs -€38,496
new in 2025: -€38,496
- Other operating charges +€27,002
up €27,002 (+28.2%), from €95,858 to €122,859
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 | €2,933,887 | €2,407,971 | -€525,916 | -17.9% |
| Fixed assets | 21/28 | €300,276 | €369,264 | +€68,988 | +23.0% |
| Tangible fixed assets | 22/27 | €62,369 | €131,357 | +€68,988 | +110.6% |
| Plant, machinery and equipment | 23 | €41,360 | €115,926 | +€74,566 | +180.3% |
| Furniture and vehicles | 24 | €21,009 | €15,431 | -€5,578 | -26.6% |
| Financial fixed assets | 28 | €237,907 | €237,907 | = | 0.0% |
| Current assets | 29/58 | €2,633,611 | €2,038,708 | -€594,903 | -22.6% |
| Amounts receivable after more than one year | 29 | €383,995 | €444,845 | +€60,850 | +15.8% |
| Other amounts receivable | 291 | €383,995 | €444,845 | +€60,850 | +15.8% |
| Stocks and contracts in progress | 3 | €18,429 | €49,949 | +€31,520 | +171.0% |
| Stocks | 30/36 | €18,429 | €49,949 | +€31,520 | +171.0% |
| Amounts receivable within one year | 40/41 | €661,745 | €1,125,170 | +€463,425 | +70.0% |
| Trade receivables | 40 | €601,224 | €867,661 | +€266,437 | +44.3% |
| Other amounts receivable | 41 | €60,521 | €257,509 | +€196,988 | +325.5% |
| Current investments | 50/53 | €907,833 | €7,839 | -€899,995 | -99.1% |
| Cash at bank and in hand | 54/58 | €605,792 | €353,087 | -€252,705 | -41.7% |
| Deferred charges and accrued income | 490/1 | €55,817 | €57,818 | +€2,001 | +3.6% |
| Total equity and liabilities | 10/49 | €2,933,887 | €2,407,971 | -€525,916 | -17.9% |
| Equity | 10/15 | €1,711,355 | €1,775,679 | +€64,323 | +3.8% |
| Contributions | 10/11 | €43,600 | €43,600 | = | 0.0% |
| Reserves | 13 | €6,591 | €6,591 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,231 | €2,231 | = | 0.0% |
| Other | 1319 | €2,231 | €2,231 | = | 0.0% |
| Distributable reserves | 133 | €4,360 | €4,360 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,661,164 | €1,725,488 | +€64,323 | +3.9% |
| Amounts payable | 17/49 | €1,222,532 | €632,293 | -€590,239 | -48.3% |
| Amounts payable after more than one year | 17 | €883,000 | - | -€883,000 | |
| Financial debts | 170/4 | €883,000 | - | -€883,000 | |
| Amounts payable within one year | 42/48 | €339,532 | €632,293 | +€292,761 | +86.2% |
| Current portion of amounts payable after more than one year | 42 | €15,000 | €127,905 | +€112,905 | +752.7% |
| Trade debts | 44 | €224,816 | €471,115 | +€246,299 | +109.6% |
| Suppliers | 440/4 | €224,816 | €471,115 | +€246,299 | +109.6% |
| Taxes, remuneration and social security | 45 | €29,088 | €33,273 | +€4,184 | +14.4% |
| Remuneration and social security | 454/9 | €29,088 | €33,273 | +€4,184 | +14.4% |
| Other amounts payable | 47/48 | €70,627 | - | -€70,627 | |
| Remuneration, social security and pensions | 62 | €225,421 | €221,786 | -€3,635 | -1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,746 | €25,511 | +€11,765 | +85.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€38,496 | -€38,496 | |
| Other operating charges | 640/8 | €95,858 | €122,859 | +€27,002 | +28.2% |
| Gross operating margin | 9900 | €732,086 | €428,606 | -€303,480 | -41.5% |
| Operating profit (loss) | 9901 | €397,061 | €96,946 | -€300,115 | -75.6% |
| Financial income | 75/76B | €81,778 | €10,850 | -€70,928 | -86.7% |
| Recurring financial income | 75 | €81,778 | €10,850 | -€70,928 | -86.7% |
| Financial charges | 65/66B | €5,702 | €4,723 | -€979 | -17.2% |
| Recurring financial charges | 65 | €5,702 | €4,723 | -€979 | -17.2% |
| Profit (loss) for the period before taxes | 9903 | €473,137 | €103,073 | -€370,064 | -78.2% |
| Income taxes | 67/77 | €110,384 | €38,749 | -€71,634 | -64.9% |
| Profit (loss) for the period | 9904 | €362,754 | €64,323 | -€298,430 | -82.3% |
| Profit (loss) for the period to be appropriated | 9905 | €362,754 | €64,323 | -€298,430 | -82.3% |
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 7 October 2026 via checked.be.