FDE CONSULT: 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.
FDE CONSULT
Largest movements
- Current investments +€100,000
new in 2025: €100,000
- Cash -€42,141
down €42,141 (-56.8%), from €74,252 to €32,112
mainly Contributions, distributions and other (-€122,789) and Current investments (-€100,000)
- Receivables within one year -€41,711
down €41,711 (-15.9%), from €262,506 to €220,795
of which Trade receivables: -€26,254
- Other debts +€56,202
up €56,202 (+22.1%), from €254,052 to €310,254
- Profit (loss) carried forward -€41,118
no longer reported in 2025 (was €41,118)
- Current portion of long-term debt -€9,907
down €9,907 (-32.5%), from €30,500 to €20,593
- Tax, wage and social debts +€7,132
up €7,132 (+117.7%), from €6,061 to €13,193
- Gross operating margin -€124,173
down €124,173 (-52.5%), from €236,674 to €112,500
- Taxes -€32,947
down €32,947 (-58.7%), from €56,100 to €23,154
- Financial income -€3,679
down €3,679 (-86.6%), from €4,251 to €571
- Depreciation +€3,468
up €3,468 (+136.0%), from €2,551 to €6,019
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 | €353,900 | €366,939 | +€13,040 | +3.7% |
| Fixed assets | 21/28 | €15,338 | €12,319 | -€3,019 | -19.7% |
| Tangible fixed assets | 22/27 | €15,338 | €12,319 | -€3,019 | -19.7% |
| Plant, machinery and equipment | 23 | €238 | €10 | -€228 | -95.8% |
| Furniture and vehicles | 24 | €15,099 | €12,309 | -€2,791 | -18.5% |
| Current assets | 29/58 | €338,562 | €354,621 | +€16,059 | +4.7% |
| Amounts receivable within one year | 40/41 | €262,506 | €220,795 | -€41,711 | -15.9% |
| Trade receivables | 40 | €237,032 | €210,778 | -€26,254 | -11.1% |
| Other amounts receivable | 41 | €25,474 | €10,018 | -€15,457 | -60.7% |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €74,252 | €32,112 | -€42,141 | -56.8% |
| Deferred charges and accrued income | 490/1 | €1,803 | €1,713 | -€90 | -5.0% |
| Total equity and liabilities | 10/49 | €353,900 | €366,939 | +€13,040 | +3.7% |
| Equity | 10/15 | €61,578 | €20,460 | -€41,118 | -66.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €41,118 | - | -€41,118 | |
| Amounts payable | 17/49 | €292,322 | €346,479 | +€54,157 | +18.5% |
| Amounts payable within one year | 42/48 | €292,322 | €346,479 | +€54,157 | +18.5% |
| Current portion of amounts payable after more than one year | 42 | €30,500 | €20,593 | -€9,907 | -32.5% |
| Trade debts | 44 | €1,710 | €2,440 | +€730 | +42.7% |
| Suppliers | 440/4 | €1,710 | €2,440 | +€730 | +42.7% |
| Taxes, remuneration and social security | 45 | €6,061 | €13,193 | +€7,132 | +117.7% |
| Taxes | 450/3 | €6,061 | €13,193 | +€7,132 | +117.7% |
| Other amounts payable | 47/48 | €254,052 | €310,254 | +€56,202 | +22.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,551 | €6,019 | +€3,468 | +136.0% |
| Other operating charges | 640/8 | €387 | €551 | +€164 | +42.3% |
| Gross operating margin | 9900 | €236,674 | €112,500 | -€124,173 | -52.5% |
| Operating profit (loss) | 9901 | €233,736 | €105,930 | -€127,805 | -54.7% |
| Financial income | 75/76B | €4,251 | €571 | -€3,679 | -86.6% |
| Recurring financial income | 75 | €4,251 | €571 | -€3,679 | -86.6% |
| Financial charges | 65/66B | €1,563 | €1,677 | +€113 | +7.2% |
| Recurring financial charges | 65 | €1,563 | €1,677 | +€113 | +7.2% |
| Profit (loss) for the period before taxes | 9903 | €236,423 | €104,825 | -€131,598 | -55.7% |
| Income taxes | 67/77 | €56,100 | €23,154 | -€32,947 | -58.7% |
| Profit (loss) for the period | 9904 | €180,322 | €81,671 | -€98,651 | -54.7% |
| Profit (loss) for the period to be appropriated | 9905 | €180,322 | €81,671 | -€98,651 | -54.7% |
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 4 October 2026 via checked.be.