FCO Partner: 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.
FCO Partner
Largest movements
- Tangible fixed assets +€282,272
up €282,272 (+2028.6%), from €13,915 to €296,187
of which Land and buildings: +€293,158
- Receivables within one year +€76,212
new in 2025: €76,212
of which Other amounts receivable: +€50,437
- Cash -€45,510
down €45,510 (-60.6%), from €75,089 to €29,579
mainly Investment in fixed assets (net) (-€326,190) and Receivables within one year (-€76,212)
- Formation expenses +€32,765
new in 2025: €32,765
- Debts after one year +€279,606
new in 2025: €279,606
- Other debts +€53,573
up €53,573 (+67.1%), from €79,846 to €133,419
- Current portion of long-term debt +€21,612
up €21,612 (+527.5%), from €4,097 to €25,709
- Tax, wage and social debts -€6,978
down €6,978 (-47.7%), from €14,638 to €7,660
of which Taxes: -€8,766
- Financial charges +€57,491
up €57,491 (+58.5%), from €98,264 to €155,755
- Gross operating margin +€43,206
up €43,206 (+34.9%), from €123,651 to €166,857
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 | €102,360 | €448,323 | +€345,963 | +338.0% |
| Formation expenses | 20 | - | €32,765 | +€32,765 | |
| Fixed assets | 21/28 | €26,378 | €308,650 | +€282,272 | +1070.1% |
| Tangible fixed assets | 22/27 | €13,915 | €296,187 | +€282,272 | +2028.6% |
| Land and buildings | 22 | - | €293,158 | +€293,158 | |
| Furniture and vehicles | 24 | €13,915 | €3,029 | -€10,885 | -78.2% |
| Financial fixed assets | 28 | €12,463 | €12,463 | = | 0.0% |
| Current assets | 29/58 | €75,982 | €106,908 | +€30,925 | +40.7% |
| Amounts receivable within one year | 40/41 | - | €76,212 | +€76,212 | |
| Trade receivables | 40 | - | €25,775 | +€25,775 | |
| Other amounts receivable | 41 | - | €50,437 | +€50,437 | |
| Cash at bank and in hand | 54/58 | €75,089 | €29,579 | -€45,510 | -60.6% |
| Deferred charges and accrued income | 490/1 | €893 | €1,117 | +€224 | +25.1% |
| Total equity and liabilities | 10/49 | €102,360 | €448,323 | +€345,963 | +338.0% |
| Equity | 10/15 | €3,112 | €514 | -€2,599 | -83.5% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €35,000 | €35,000 | = | 0.0% |
| Distributable reserves | 133 | €35,000 | €35,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€35,888 | -€38,486 | -€2,599 | -7.2% |
| Amounts payable | 17/49 | €99,248 | €447,809 | +€348,561 | +351.2% |
| Amounts payable after more than one year | 17 | - | €279,606 | +€279,606 | |
| Financial debts | 170/4 | - | €279,606 | +€279,606 | |
| Amounts payable within one year | 42/48 | €99,248 | €168,204 | +€68,956 | +69.5% |
| Current portion of amounts payable after more than one year | 42 | €4,097 | €25,709 | +€21,612 | +527.5% |
| Trade debts | 44 | €667 | €1,415 | +€749 | +112.3% |
| Suppliers | 440/4 | €667 | €1,415 | +€749 | +112.3% |
| Taxes, remuneration and social security | 45 | €14,638 | €7,660 | -€6,978 | -47.7% |
| Taxes | 450/3 | €12,497 | €3,731 | -€8,766 | -70.1% |
| Remuneration and social security | 454/9 | €2,140 | €3,928 | +€1,788 | +83.5% |
| Other amounts payable | 47/48 | €79,846 | €133,419 | +€53,573 | +67.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,885 | €11,153 | +€268 | +2.5% |
| Other operating charges | 640/8 | €1,555 | €1,248 | -€307 | -19.7% |
| Gross operating margin | 9900 | €123,651 | €166,857 | +€43,206 | +34.9% |
| Operating profit (loss) | 9901 | €111,211 | €154,456 | +€43,244 | +38.9% |
| Financial income | 75/76B | €3 | €1 | -€2 | -66.2% |
| Recurring financial income | 75 | €3 | €1 | -€2 | -66.2% |
| Financial charges | 65/66B | €98,264 | €155,755 | +€57,491 | +58.5% |
| Recurring financial charges | 65 | €98,264 | €155,755 | +€57,491 | +58.5% |
| Profit (loss) for the period before taxes | 9903 | €12,950 | -€1,298 | -€14,248 | |
| Income taxes | 67/77 | €549 | €1,300 | +€752 | +137.0% |
| Profit (loss) for the period | 9904 | €12,401 | -€2,599 | -€15,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,401 | -€2,599 | -€15,000 |
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 11 October 2026 via checked.be.