FD Line: 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 Line
Largest movements
- Receivables within one year +€19,924
up €19,924 (+47.4%), from €42,044 to €61,968
of which Other amounts receivable: +€16,240
- Tangible fixed assets +€16,460
up €16,460 (+59.0%), from €27,895 to €44,355
of which Other tangible fixed assets: +€25,188
- Cash -€7,590
down €7,590 (-53.9%), from €14,078 to €6,488
mainly Investment in fixed assets (net) (-€37,679) and Trade debts (-€20,333)
- Deferred charges and accrued income -€5,839
no longer reported in 2025 (was €5,839)
- Debts after one year +€38,333
up €38,333 (+289.9%), from €13,222 to €51,555
of which Other amounts payable: +€45,555
- Profit (loss) carried forward +€36,171
up €36,171, from -€20,296 to €15,875
- Trade debts -€20,333
no longer reported in 2025 (was €20,333)
- Other debts -€18,434
no longer reported in 2025 (was €18,434)
- Short-term financial debts -€7,660
no longer reported in 2025 (was €7,660)
- Gross operating margin +€26,183
up €26,183 (+44.7%), from €58,591 to €84,774
- Depreciation -€24,427
down €24,427 (-53.5%), from €45,646 to €21,219
- Taxes -€4,527
down €4,527, from €2,257 to -€2,270
- Other operating charges +€2,435
up €2,435 (+58.1%), from €4,192 to €6,627
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 | €90,356 | €113,311 | +€22,955 | +25.4% |
| Fixed assets | 21/28 | €28,395 | €44,855 | +€16,460 | +58.0% |
| Tangible fixed assets | 22/27 | €27,895 | €44,355 | +€16,460 | +59.0% |
| Plant, machinery and equipment | 23 | €3,496 | €6,672 | +€3,176 | +90.8% |
| Furniture and vehicles | 24 | €15,120 | €9,371 | -€5,749 | -38.0% |
| Leasing and similar rights | 25 | €6,155 | €0 | -€6,155 | -100.0% |
| Other tangible fixed assets | 26 | €3,124 | €28,312 | +€25,188 | +806.3% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €61,961 | €68,456 | +€6,495 | +10.5% |
| Amounts receivable within one year | 40/41 | €42,044 | €61,968 | +€19,924 | +47.4% |
| Trade receivables | 40 | €33,428 | €37,112 | +€3,684 | +11.0% |
| Other amounts receivable | 41 | €8,616 | €24,856 | +€16,240 | +188.5% |
| Cash at bank and in hand | 54/58 | €14,078 | €6,488 | -€7,590 | -53.9% |
| Deferred charges and accrued income | 490/1 | €5,839 | - | -€5,839 | |
| Total equity and liabilities | 10/49 | €90,356 | €113,311 | +€22,955 | +25.4% |
| Equity | 10/15 | €5,597 | €41,768 | +€36,171 | +646.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €7,343 | €7,343 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,343 | €7,343 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,296 | €15,875 | +€36,171 | |
| Amounts payable | 17/49 | €84,759 | €71,543 | -€13,216 | -15.6% |
| Amounts payable after more than one year | 17 | €13,222 | €51,555 | +€38,333 | +289.9% |
| Financial debts | 170/4 | €7,222 | - | -€7,222 | |
| Other amounts payable | 178/9 | €6,000 | €51,555 | +€45,555 | +759.3% |
| Amounts payable within one year | 42/48 | €71,411 | €19,988 | -€51,423 | -72.0% |
| Current portion of amounts payable after more than one year | 42 | €17,634 | €19,988 | +€2,354 | +13.3% |
| Financial debts | 43 | €7,660 | - | -€7,660 | |
| Credit institutions | 430/8 | €7,660 | - | -€7,660 | |
| Trade debts | 44 | €20,333 | - | -€20,333 | |
| Suppliers | 440/4 | €20,333 | - | -€20,333 | |
| Taxes, remuneration and social security | 45 | €7,350 | - | -€7,350 | |
| Taxes | 450/3 | €7,350 | - | -€7,350 | |
| Other amounts payable | 47/48 | €18,434 | - | -€18,434 | |
| Accrued charges and deferred income | 492/3 | €126 | - | -€126 | |
| Non-recurring operating income | 76A | €7,343 | - | -€7,343 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,646 | €21,219 | -€24,427 | -53.5% |
| Other operating charges | 640/8 | €4,192 | €6,627 | +€2,435 | +58.1% |
| Gross operating margin | 9900 | €58,591 | €84,774 | +€26,183 | +44.7% |
| Operating profit (loss) | 9901 | €8,753 | €56,928 | +€48,175 | +550.4% |
| Financial income | 75/76B | €655 | €16 | -€639 | -97.6% |
| Recurring financial income | 75 | €655 | €16 | -€639 | -97.6% |
| Financial charges | 65/66B | €2,604 | €3,043 | +€439 | +16.9% |
| Recurring financial charges | 65 | €2,604 | €3,043 | +€439 | +16.9% |
| Profit (loss) for the period before taxes | 9903 | €6,804 | €53,901 | +€47,097 | +692.2% |
| Income taxes | 67/77 | €2,257 | -€2,270 | -€4,527 | |
| Profit (loss) for the period | 9904 | €4,547 | €56,171 | +€51,624 | +1135.3% |
| Transfer to tax-exempt reserves | 689 | €7,343 | - | -€7,343 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,796 | €56,171 | +€58,967 |
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 30 September 2026 via checked.be.