FD-i: 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.
FD-i
Largest movements
- Tangible fixed assets -€25,833
down €25,833 (-5.1%), from €508,175 to €482,342
of which Land and buildings: -€21,262
- Cash +€8,206
up €8,206 (+391.9%), from €2,094 to €10,299
mainly Net result for the year (+€50,155) and Depreciation (+€29,125)
- Debts after one year -€58,863
down €58,863 (-22.9%), from €256,802 to €197,939
- Reserves +€50,000
up €50,000 (+72.5%), from €69,000 to €119,000
of which Distributable reserves: +€50,000
- Accrued charges and deferred income -€10,145
no longer reported in 2025 (was €10,145)
- Tax, wage and social debts +€7,835
up €7,835 (+139.8%), from €5,604 to €13,439
- Trade debts -€5,569
down €5,569 (-34.8%), from €16,005 to €10,436
- Gross operating margin +€31,380
up €31,380 (+41.3%), from €75,941 to €107,320
- Taxes +€10,153
up €10,153 (+133.6%), from €7,602 to €17,755
- Other operating charges -€3,166
down €3,166 (-31.7%), from €9,975 to €6,808
- Financial income +€2,075
new in 2025: €2,075
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 | €523,441 | €508,620 | -€14,821 | -2.8% |
| Fixed assets | 21/28 | €512,349 | €485,693 | -€26,655 | -5.2% |
| Intangible fixed assets | 21 | €3,076 | €2,254 | -€823 | -26.7% |
| Tangible fixed assets | 22/27 | €508,175 | €482,342 | -€25,833 | -5.1% |
| Land and buildings | 22 | €493,285 | €472,023 | -€21,262 | -4.3% |
| Plant, machinery and equipment | 23 | €13,698 | €10,319 | -€3,380 | -24.7% |
| Furniture and vehicles | 24 | €1,192 | - | -€1,192 | |
| Financial fixed assets | 28 | €1,098 | €1,098 | = | 0.0% |
| Current assets | 29/58 | €11,092 | €22,927 | +€11,835 | +106.7% |
| Amounts receivable within one year | 40/41 | €8,999 | €12,628 | +€3,629 | +40.3% |
| Trade receivables | 40 | €8,069 | €12,628 | +€4,558 | +56.5% |
| Other amounts receivable | 41 | €929 | - | -€929 | |
| Cash at bank and in hand | 54/58 | €2,094 | €10,299 | +€8,206 | +391.9% |
| Total equity and liabilities | 10/49 | €523,441 | €508,620 | -€14,821 | -2.8% |
| Equity | 10/15 | €89,476 | €139,630 | +€50,155 | +56.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €69,000 | €119,000 | +€50,000 | +72.5% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €67,000 | €117,000 | +€50,000 | +74.6% |
| Profit (loss) carried forward | 14 | €476 | €630 | +€155 | +32.5% |
| Amounts payable | 17/49 | €433,965 | €368,990 | -€64,975 | -15.0% |
| Amounts payable after more than one year | 17 | €256,802 | €197,939 | -€58,863 | -22.9% |
| Financial debts | 170/4 | €256,802 | €197,939 | -€58,863 | -22.9% |
| Amounts payable within one year | 42/48 | €167,019 | €171,051 | +€4,032 | +2.4% |
| Current portion of amounts payable after more than one year | 42 | €56,751 | €58,516 | +€1,766 | +3.1% |
| Trade debts | 44 | €16,005 | €10,436 | -€5,569 | -34.8% |
| Suppliers | 440/4 | €16,005 | €10,436 | -€5,569 | -34.8% |
| Taxes, remuneration and social security | 45 | €5,604 | €13,439 | +€7,835 | +139.8% |
| Taxes | 450/3 | €5,604 | €13,439 | +€7,835 | +139.8% |
| Other amounts payable | 47/48 | €88,660 | €88,660 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €10,145 | - | -€10,145 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,523 | €29,125 | -€397 | -1.3% |
| Other operating charges | 640/8 | €9,975 | €6,808 | -€3,166 | -31.7% |
| Gross operating margin | 9900 | €75,941 | €107,320 | +€31,380 | +41.3% |
| Operating profit (loss) | 9901 | €36,443 | €71,386 | +€34,943 | +95.9% |
| Financial income | 75/76B | - | €2,075 | +€2,075 | |
| Recurring financial income | 75 | - | €2,075 | +€2,075 | |
| Financial charges | 65/66B | €6,531 | €5,551 | -€979 | -15.0% |
| Recurring financial charges | 65 | €6,531 | €5,551 | -€979 | -15.0% |
| Profit (loss) for the period before taxes | 9903 | €29,912 | €67,910 | +€37,998 | +127.0% |
| Income taxes | 67/77 | €7,602 | €17,755 | +€10,153 | +133.6% |
| Profit (loss) for the period | 9904 | €22,310 | €50,155 | +€27,845 | +124.8% |
| Profit (loss) for the period to be appropriated | 9905 | €22,310 | €50,155 | +€27,845 | +124.8% |
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 3 October 2026 via checked.be.