FD MANAGEMENT: 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.
FD MANAGEMENT
Largest movements
- Cash -€92,132
down €92,132 (-69.0%), from €133,608 to €41,476
mainly Contributions, distributions and other (-€70,000) and Other debts (-€69,474)
- Receivables within one year -€9,224
down €9,224 (-32.7%), from €28,197 to €18,973
of which Other amounts receivable: -€7,531
- Tangible fixed assets +€3,056
up €3,056 (+127%), from €2,410 to €5,466
of which Furniture and vehicles: +€1,884
- Other debts -€69,474
down €69,474 (-81.7%), from €85,000 to €15,526
- Tax, wage and social debts -€12,139
down €12,139 (-80.0%), from €15,166 to €3,027
of which Taxes: -€15,000
- Reserves -€10,752
down €10,752 (-8.9%), from €120,746 to €109,994
of which Distributable reserves: -€10,752
- Accrued charges and deferred income -€3,500
no longer reported in 2025 (was €3,500)
- Turnover +€34,362
up €34,362 (+22.3%), from €153,862 to €188,224
- Gross operating margin +€23,631
up €23,631 (+48.6%), from €48,577 to €72,208
- Purchases and services +€10,731
up €10,731 (+10.2%), from €105,285 to €116,016
- Financial income -€6,048
down €6,048 (-45.3%), from €13,348 to €7,300
of which Non-recurring financial income: -€4,548
- Depreciation -€3,061
down €3,061 (-53.0%), from €5,772 to €2,711
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 | €249,020 | €153,807 | -€95,213 | -38.2% |
| Fixed assets | 21/28 | €2,410 | €5,466 | +€3,056 | +127% |
| Tangible fixed assets | 22/27 | €2,410 | €5,466 | +€3,056 | +127% |
| Plant, machinery and equipment | 23 | €1,314 | €2,486 | +€1,172 | +89.2% |
| Furniture and vehicles | 24 | €1,096 | €2,980 | +€1,884 | +172% |
| Current assets | 29/58 | €246,611 | €148,342 | -€98,269 | -39.8% |
| Stocks and contracts in progress | 3 | €8,418 | €9,251 | +€833 | +9.9% |
| Stocks | 30/36 | €8,418 | €9,251 | +€833 | +9.9% |
| Amounts receivable within one year | 40/41 | €28,197 | €18,973 | -€9,224 | -32.7% |
| Trade receivables | 40 | €20,459 | €18,766 | -€1,693 | -8.3% |
| Other amounts receivable | 41 | €7,738 | €207 | -€7,531 | -97.3% |
| Current investments | 50/53 | €76,387 | €78,641 | +€2,254 | +3.0% |
| Cash at bank and in hand | 54/58 | €133,608 | €41,476 | -€92,132 | -69.0% |
| Total equity and liabilities | 10/49 | €249,020 | €153,807 | -€95,213 | -38.2% |
| Equity | 10/15 | €140,746 | €129,994 | -€10,752 | -7.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €120,746 | €109,994 | -€10,752 | -8.9% |
| 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 | €118,746 | €107,994 | -€10,752 | -9.1% |
| Amounts payable | 17/49 | €108,274 | €23,813 | -€84,461 | -78.0% |
| Amounts payable within one year | 42/48 | €104,774 | €23,813 | -€80,961 | -77.3% |
| Trade debts | 44 | €4,608 | €5,260 | +€652 | +14.2% |
| Suppliers | 440/4 | €4,608 | €5,260 | +€652 | +14.2% |
| Taxes, remuneration and social security | 45 | €15,166 | €3,027 | -€12,139 | -80.0% |
| Taxes | 450/3 | €15,000 | - | -€15,000 | |
| Remuneration and social security | 454/9 | €166 | €3,027 | +€2,861 | +1,720% |
| Other amounts payable | 47/48 | €85,000 | €15,526 | -€69,474 | -81.7% |
| Accrued charges and deferred income | 492/3 | €3,500 | - | -€3,500 | |
| Turnover | 70 | €153,862 | €188,224 | +€34,362 | +22.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €105,285 | €116,016 | +€10,731 | +10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,772 | €2,711 | -€3,061 | -53.0% |
| Other operating charges | 640/8 | €6,316 | €6,161 | -€155 | -2.4% |
| Gross operating margin | 9900 | €48,577 | €72,208 | +€23,631 | +48.6% |
| Operating profit (loss) | 9901 | €36,489 | €63,335 | +€26,847 | +73.6% |
| Financial income | 75/76B | €13,348 | €7,300 | -€6,048 | -45.3% |
| Recurring financial income | 75 | €1,500 | €7,300 | +€5,800 | +387% |
| Non-recurring financial income | 76B | €11,848 | €7,300 | -€4,548 | -38.4% |
| Financial charges | 65/66B | €134 | €185 | +€50 | +37.5% |
| Recurring financial charges | 65 | €134 | €185 | +€50 | +37.5% |
| Profit (loss) for the period before taxes | 9903 | €49,702 | €70,450 | +€20,748 | +41.7% |
| Income taxes | 67/77 | €10,917 | €11,202 | +€285 | +2.6% |
| Profit (loss) for the period | 9904 | €38,785 | €59,248 | +€20,463 | +52.8% |
| Profit (loss) for the period to be appropriated | 9905 | €38,785 | €59,248 | +€20,463 | +52.8% |
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 18 October 2026 via checked.be.