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 +€25,020
up €25,020 (+92.5%), from €27,041 to €52,062
mainly Net result for the year (+€28,692) and Deferred charges and accrued income (+€18,487)
- Deferred charges and accrued income -€18,487
down €18,487 (-46.2%), from €39,987 to €21,500
- Tangible fixed assets +€3,688
up €3,688 (+155%), from €2,381 to €6,069
of which Furniture and vehicles: +€2,039
- Reserves +€28,692
up €28,692 (+31.0%), from €92,515 to €121,208
- Current portion of long-term debt -€15,797
no longer reported in 2025 (was €15,797)
- Trade debts -€3,259
down €3,259 (-59.8%), from €5,446 to €2,187
- Financial income -€19,722
down €19,722 (-49.3%), from €39,987 to €20,266
- Gross operating margin +€2,032
up €2,032 (+10.5%), from €19,418 to €21,451
- Taxes -€1,582
down €1,582 (-17.2%), from €9,201 to €7,620
- Depreciation +€909
up €909 (+2,867%), from €32 to €941
- Financial charges -€412
down €412 (-10.1%), from €4,065 to €3,654
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 | €178,969 | €189,160 | +€10,191 | +5.7% |
| Fixed assets | 21/28 | €111,760 | €115,448 | +€3,688 | +3.3% |
| Tangible fixed assets | 22/27 | €2,381 | €6,069 | +€3,688 | +155% |
| Plant, machinery and equipment | 23 | - | €1,650 | +€1,650 | |
| Furniture and vehicles | 24 | €2,381 | €4,419 | +€2,039 | +85.6% |
| Financial fixed assets | 28 | €109,379 | €109,379 | = | 0.0% |
| Current assets | 29/58 | €67,209 | €73,711 | +€6,503 | +9.7% |
| Stocks and contracts in progress | 3 | €150 | €150 | = | 0.0% |
| Stocks | 30/36 | €150 | €150 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €30 | - | -€30 | |
| Trade receivables | 40 | €30 | - | -€30 | |
| Cash at bank and in hand | 54/58 | €27,041 | €52,062 | +€25,020 | +92.5% |
| Deferred charges and accrued income | 490/1 | €39,987 | €21,500 | -€18,487 | -46.2% |
| Total equity and liabilities | 10/49 | €178,969 | €189,160 | +€10,191 | +5.7% |
| Equity | 10/15 | €95,515 | €124,208 | +€28,692 | +30.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €92,515 | €121,208 | +€28,692 | +31.0% |
| Distributable reserves | 133 | €92,515 | €121,208 | +€28,692 | +31.0% |
| Amounts payable | 17/49 | €83,453 | €64,952 | -€18,501 | -22.2% |
| Amounts payable within one year | 42/48 | €79,494 | €61,355 | -€18,140 | -22.8% |
| Current portion of amounts payable after more than one year | 42 | €15,797 | - | -€15,797 | |
| Trade debts | 44 | €5,446 | €2,187 | -€3,259 | -59.8% |
| Suppliers | 440/4 | €5,446 | €2,187 | -€3,259 | -59.8% |
| Taxes, remuneration and social security | 45 | €13,930 | €13,781 | -€149 | -1.1% |
| Taxes | 450/3 | €13,930 | €12,839 | -€1,091 | -7.8% |
| Remuneration and social security | 454/9 | - | €942 | +€942 | |
| Other amounts payable | 47/48 | €44,322 | €45,387 | +€1,065 | +2.4% |
| Accrued charges and deferred income | 492/3 | €3,959 | €3,597 | -€362 | -9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32 | €941 | +€909 | +2,867% |
| Other operating charges | 640/8 | €520 | €810 | +€290 | +55.7% |
| Gross operating margin | 9900 | €19,418 | €21,451 | +€2,032 | +10.5% |
| Operating profit (loss) | 9901 | €18,867 | €19,700 | +€833 | +4.4% |
| Financial income | 75/76B | €39,987 | €20,266 | -€19,722 | -49.3% |
| Recurring financial income | 75 | €39,987 | €20,266 | -€19,722 | -49.3% |
| Financial charges | 65/66B | €4,065 | €3,654 | -€412 | -10.1% |
| Recurring financial charges | 65 | €4,065 | €3,654 | -€412 | -10.1% |
| Profit (loss) for the period before taxes | 9903 | €54,789 | €36,312 | -€18,477 | -33.7% |
| Income taxes | 67/77 | €9,201 | €7,620 | -€1,582 | -17.2% |
| Profit (loss) for the period | 9904 | €45,587 | €28,692 | -€16,895 | -37.1% |
| Profit (loss) for the period to be appropriated | 9905 | €45,587 | €28,692 | -€16,895 | -37.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.