FDC-FORCHIES: 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.
FDC-FORCHIES
Largest movements
- Cash -€665,304
down €665,304 (-52.4%), from €1.3m to €604,691
mainly Trade debts (-€672,284) and Current investments (-€501,202)
- Current investments +€501,202
new in 2025: €501,202
- Tangible fixed assets -€294,788
down €294,788 (-5.6%), from €5.2m to €4.9m
of which Land and buildings: -€206,326
- Receivables within one year +€157,921
up €157,921 (+34.3%), from €460,422 to €618,343
of which Trade receivables: +€121,204
- Stocks and contracts +€103,008
up €103,008 (+11.7%), from €877,657 to €980,665
- Trade debts -€672,284
down €672,284 (-34.4%), from €2.0m to €1.3m
- Reserves +€168,400
up €168,400 (+14.6%), from €1.2m to €1.3m
of which Distributable reserves: +€530,460
- Current portion of long-term debt +€138,550
up €138,550 (+32.1%), from €431,692 to €570,241
- Profit (loss) carried forward +€82,900
up €82,900 (+39.2%), from €211,383 to €294,284
- Gross operating margin +€730,022
up €730,022 (+36.8%), from €2.0m to €2.7m
- Depreciation +€154,028
up €154,028 (+27.5%), from €559,589 to €713,617
- Financial charges +€85,515
up €85,515 (+48.1%), from €177,806 to €263,321
of which Financial charges: +€88,667
- Taxes -€62,885
down €62,885 (-49.4%), from €127,410 to €64,525
- Staff costs +€60,574
up €60,574 (+4.4%), from €1.4m to €1.4m
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 | €8,078,294 | €7,800,055 | -€278,239 | -3.4% |
| Formation expenses | 20 | €85,208 | €62,184 | -€23,024 | -27.0% |
| Fixed assets | 21/28 | €5,265,834 | €4,969,199 | -€296,635 | -5.6% |
| Tangible fixed assets | 22/27 | €5,233,920 | €4,939,132 | -€294,788 | -5.6% |
| Land and buildings | 22 | €3,500,790 | €3,294,464 | -€206,326 | -5.9% |
| Plant, machinery and equipment | 23 | €1,213,266 | €1,151,542 | -€61,724 | -5.1% |
| Furniture and vehicles | 24 | €519,864 | €493,126 | -€26,738 | -5.1% |
| Financial fixed assets | 28 | €31,914 | €30,067 | -€1,847 | -5.8% |
| Current assets | 29/58 | €2,727,252 | €2,768,672 | +€41,420 | +1.5% |
| Stocks and contracts in progress | 3 | €877,657 | €980,665 | +€103,008 | +11.7% |
| Stocks | 30/36 | €877,657 | €980,665 | +€103,008 | +11.7% |
| Amounts receivable within one year | 40/41 | €460,422 | €618,343 | +€157,921 | +34.3% |
| Trade receivables | 40 | €302,954 | €424,158 | +€121,204 | +40.0% |
| Other amounts receivable | 41 | €157,469 | €194,185 | +€36,716 | +23.3% |
| Current investments | 50/53 | - | €501,202 | +€501,202 | |
| Cash at bank and in hand | 54/58 | €1,269,996 | €604,691 | -€665,304 | -52.4% |
| Deferred charges and accrued income | 490/1 | €119,177 | €63,771 | -€55,407 | -46.5% |
| Total equity and liabilities | 10/49 | €8,078,294 | €7,800,055 | -€278,239 | -3.4% |
| Equity | 10/15 | €1,714,048 | €1,965,349 | +€251,300 | +14.7% |
| Contributions | 10/11 | €350,000 | €350,000 | = | 0.0% |
| Capital | 10 | €350,000 | €350,000 | = | 0.0% |
| Issued capital | 100 | €350,000 | €350,000 | = | 0.0% |
| Reserves | 13 | €1,152,665 | €1,321,065 | +€168,400 | +14.6% |
| Non-distributable reserves | 130/1 | €35,000 | €35,000 | = | 0.0% |
| Legal reserve | 130 | €35,000 | €35,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €829,370 | €467,310 | -€362,060 | -43.7% |
| Distributable reserves | 133 | €288,295 | €818,755 | +€530,460 | +184% |
| Profit (loss) carried forward | 14 | €211,383 | €294,284 | +€82,900 | +39.2% |
| Amounts payable | 17/49 | €6,364,245 | €5,834,706 | -€529,539 | -8.3% |
| Amounts payable after more than one year | 17 | €3,704,825 | €3,686,149 | -€18,676 | -0.5% |
| Financial debts | 170/4 | €3,697,615 | €3,678,939 | -€18,676 | -0.5% |
| Other amounts payable | 178/9 | €7,210 | €7,210 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,637,710 | €2,119,585 | -€518,125 | -19.6% |
| Current portion of amounts payable after more than one year | 42 | €431,692 | €570,241 | +€138,550 | +32.1% |
| Trade debts | 44 | €1,952,271 | €1,279,987 | -€672,284 | -34.4% |
| Suppliers | 440/4 | €1,952,271 | €1,279,987 | -€672,284 | -34.4% |
| Taxes, remuneration and social security | 45 | €147,940 | €180,239 | +€32,300 | +21.8% |
| Taxes | 450/3 | €565 | €28,514 | +€27,949 | +4,944% |
| Remuneration and social security | 454/9 | €147,374 | €151,725 | +€4,351 | +3.0% |
| Other amounts payable | 47/48 | €105,808 | €89,118 | -€16,690 | -15.8% |
| Accrued charges and deferred income | 492/3 | €21,711 | €28,972 | +€7,262 | +33.4% |
| Non-recurring operating income | 76A | €61,251 | €159,230 | +€97,979 | +160% |
| Remuneration, social security and pensions | 62 | €1,368,902 | €1,429,477 | +€60,574 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €559,589 | €713,617 | +€154,028 | +27.5% |
| Other operating charges | 640/8 | €90,141 | €96,856 | +€6,715 | +7.4% |
| Non-recurring operating charges | 66A | €5,386 | €1,856 | -€3,531 | -65.5% |
| Gross operating margin | 9900 | €1,983,279 | €2,713,301 | +€730,022 | +36.8% |
| Operating profit (loss) | 9901 | -€40,740 | €471,495 | +€512,235 | |
| Financial income | 75/76B | €71,436 | €107,651 | +€36,215 | +50.7% |
| Recurring financial income | 75 | €67,004 | €77,804 | +€10,800 | +16.1% |
| Non-recurring financial income | 76B | €4,432 | €29,848 | +€25,415 | +573% |
| Financial charges | 65/66B | €177,806 | €263,321 | +€85,515 | +48.1% |
| Recurring financial charges | 65 | €135,567 | €224,234 | +€88,667 | +65.4% |
| Non-recurring financial charges | 66B | €42,239 | €39,087 | -€3,152 | -7.5% |
| Profit (loss) for the period before taxes | 9903 | -€147,110 | €315,825 | +€462,936 | |
| Income taxes | 67/77 | €127,410 | €64,525 | -€62,885 | -49.4% |
| Profit (loss) for the period | 9904 | -€274,520 | €251,300 | +€525,821 | |
| Transfer from tax-exempt reserves | 789 | - | €530,460 | +€530,460 | |
| Transfer to tax-exempt reserves | 689 | - | €168,400 | +€168,400 | |
| Profit (loss) for the period to be appropriated | 9905 | -€274,520 | €613,360 | +€887,881 |
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 20 October 2026 via checked.be.