FDL GROUP: 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.
FDL GROUP
Largest movements
- Tangible fixed assets +€482,672
up €482,672 (+112%), from €430,841 to €913,513
of which Land and buildings: +€471,030
- Receivables within one year +€81,657
up €81,657 (+33.9%), from €240,573 to €322,230
of which Trade receivables: +€53,879
- Cash -€26,931
down €26,931 (-46.5%), from €57,928 to €30,997
mainly Investment in fixed assets (net) (-€529,580) and Net result for the year (-€274,197)
- Stocks and contracts +€21,820
up €21,820 (+9.5%), from €229,449 to €251,269
- Debts after one year +€356,135
up €356,135 (+94.0%), from €378,751 to €734,886
- Profit (loss) carried forward -€274,197
down €274,197, from €177,659 to -€96,538
- Current portion of long-term debt +€171,877
up €171,877 (+249%), from €69,018 to €240,895
- Tax, wage and social debts +€154,553
up €154,553 (+95.8%), from €161,270 to €315,824
of which Remuneration and social security: +€88,731
- Accrued charges and deferred income +€87,404
new in 2025: €87,404
- Staff costs +€213,313
up €213,313 (+121%), from €175,878 to €389,190
- Gross operating margin -€181,791
down €181,791 (-43.9%), from €413,975 to €232,183
- Other operating charges -€34,037
down €34,037 (-55.1%), from €61,804 to €27,767
- Taxes -€33,818
down €33,818 (-94.3%), from €35,863 to €2,046
- Depreciation +€21,113
up €21,113 (+91.5%), from €23,079 to €44,192
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 | €972,371 | €1,532,691 | +€560,320 | +57.6% |
| Fixed assets | 21/28 | €430,841 | €916,229 | +€485,388 | +113% |
| Intangible fixed assets | 21 | - | €2,717 | +€2,717 | |
| Tangible fixed assets | 22/27 | €430,841 | €913,513 | +€482,672 | +112% |
| Land and buildings | 22 | €373,322 | €844,352 | +€471,030 | +126% |
| Plant, machinery and equipment | 23 | €42,235 | €61,209 | +€18,973 | +44.9% |
| Furniture and vehicles | 24 | €15,284 | €7,953 | -€7,331 | -48.0% |
| Current assets | 29/58 | €541,530 | €616,461 | +€74,931 | +13.8% |
| Stocks and contracts in progress | 3 | €229,449 | €251,269 | +€21,820 | +9.5% |
| Stocks | 30/36 | €229,449 | €251,269 | +€21,820 | +9.5% |
| Amounts receivable within one year | 40/41 | €240,573 | €322,230 | +€81,657 | +33.9% |
| Trade receivables | 40 | €234,702 | €288,580 | +€53,879 | +23.0% |
| Other amounts receivable | 41 | €5,871 | €33,650 | +€27,779 | +473% |
| Cash at bank and in hand | 54/58 | €57,928 | €30,997 | -€26,931 | -46.5% |
| Deferred charges and accrued income | 490/1 | €13,581 | €11,965 | -€1,615 | -11.9% |
| Total equity and liabilities | 10/49 | €972,371 | €1,532,691 | +€560,320 | +57.6% |
| Equity | 10/15 | €189,659 | -€84,538 | -€274,197 | |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €177,659 | -€96,538 | -€274,197 | |
| Amounts payable | 17/49 | €782,712 | €1,617,228 | +€834,516 | +107% |
| Amounts payable after more than one year | 17 | €378,751 | €734,886 | +€356,135 | +94.0% |
| Financial debts | 170/4 | €378,751 | €734,886 | +€356,135 | +94.0% |
| Amounts payable within one year | 42/48 | €403,961 | €794,939 | +€390,977 | +96.8% |
| Current portion of amounts payable after more than one year | 42 | €69,018 | €240,895 | +€171,877 | +249% |
| Financial debts | 43 | €1,568 | €241 | -€1,327 | -84.6% |
| Credit institutions | 430/8 | €1,568 | €241 | -€1,327 | -84.6% |
| Trade debts | 44 | €171,061 | €237,477 | +€66,416 | +38.8% |
| Suppliers | 440/4 | €171,061 | €237,477 | +€66,416 | +38.8% |
| Taxes, remuneration and social security | 45 | €161,270 | €315,824 | +€154,553 | +95.8% |
| Taxes | 450/3 | €128,234 | €194,057 | +€65,823 | +51.3% |
| Remuneration and social security | 454/9 | €33,036 | €121,767 | +€88,731 | +269% |
| Other amounts payable | 47/48 | €1,045 | €502 | -€542 | -51.9% |
| Accrued charges and deferred income | 492/3 | - | €87,404 | +€87,404 | |
| Remuneration, social security and pensions | 62 | €175,878 | €389,190 | +€213,313 | +121% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,079 | €44,192 | +€21,113 | +91.5% |
| Other operating charges | 640/8 | €61,804 | €27,767 | -€34,037 | -55.1% |
| Non-recurring operating charges | 66A | €3,753 | - | -€3,753 | |
| Gross operating margin | 9900 | €413,975 | €232,183 | -€181,791 | -43.9% |
| Operating profit (loss) | 9901 | €149,461 | -€228,965 | -€378,427 | |
| Financial income | 75/76B | €7 | €34 | +€27 | +401% |
| Recurring financial income | 75 | €7 | €34 | +€27 | +401% |
| Financial charges | 65/66B | €31,317 | €43,220 | +€11,903 | +38.0% |
| Recurring financial charges | 65 | €31,317 | €43,220 | +€11,903 | +38.0% |
| Profit (loss) for the period before taxes | 9903 | €118,152 | -€272,151 | -€390,302 | |
| Income taxes | 67/77 | €35,863 | €2,046 | -€33,818 | -94.3% |
| Profit (loss) for the period | 9904 | €82,288 | -€274,197 | -€356,485 | |
| Profit (loss) for the period to be appropriated | 9905 | €82,288 | -€274,197 | -€356,485 |
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 15 October 2026 via checked.be.