FDL MANAGEMENT: 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.
FDL MANAGEMENT
Largest movements
- Receivables within one year +€18,120
up €18,120 (+45.9%), from €39,477 to €57,597
of which Trade receivables: +€17,002
- Cash -€14,230
down €14,230 (-43.9%), from €32,403 to €18,173
mainly Contributions, distributions and other (-€40,000) and Receivables within one year (-€18,120)
- Tangible fixed assets -€13,021
down €13,021 (-30.8%), from €42,244 to €29,222
of which Leasing and similar rights: -€12,840
- Deferred charges and accrued income +€8,089
up €8,089 (+949.8%), from €852 to €8,940
- Reserves +€22,916
up €22,916 (+767.3%), from €2,987 to €25,903
of which Distributable reserves: +€22,916
- Debts after one year -€13,487
down €13,487 (-79.7%), from €16,920 to €3,433
- Profit (loss) carried forward -€11,660
down €11,660 (-100.0%), from €11,660 to €0
- Short-term financial debts +€2,499
up €2,499 (+29.9%), from €8,363 to €10,862
- Trade debts +€1,899
up €1,899 (+635.1%), from €299 to €2,198
- Gross operating margin +€13,284
up €13,284 (+17.9%), from €74,270 to €87,554
- Taxes +€4,767
up €4,767 (+37.8%), from €12,628 to €17,395
- Depreciation +€955
up €955 (+7.0%), from €13,566 to €14,521
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 | €114,975 | €113,932 | -€1,042 | -0.9% |
| Fixed assets | 21/28 | €42,244 | €29,222 | -€13,021 | -30.8% |
| Tangible fixed assets | 22/27 | €42,244 | €29,222 | -€13,021 | -30.8% |
| Plant, machinery and equipment | 23 | €1,676 | €1,227 | -€449 | -26.8% |
| Furniture and vehicles | 24 | €1,434 | €2,120 | +€685 | +47.8% |
| Leasing and similar rights | 25 | €29,127 | €16,287 | -€12,840 | -44.1% |
| Other tangible fixed assets | 26 | €10,006 | €9,589 | -€418 | -4.2% |
| Current assets | 29/58 | €72,731 | €84,710 | +€11,979 | +16.5% |
| Amounts receivable within one year | 40/41 | €39,477 | €57,597 | +€18,120 | +45.9% |
| Trade receivables | 40 | €24,037 | €41,039 | +€17,002 | +70.7% |
| Other amounts receivable | 41 | €15,440 | €16,558 | +€1,118 | +7.2% |
| Cash at bank and in hand | 54/58 | €32,403 | €18,173 | -€14,230 | -43.9% |
| Deferred charges and accrued income | 490/1 | €852 | €8,940 | +€8,089 | +949.8% |
| Total equity and liabilities | 10/49 | €114,975 | €113,932 | -€1,042 | -0.9% |
| Equity | 10/15 | €20,847 | €32,103 | +€11,256 | +54.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €2,987 | €25,903 | +€22,916 | +767.3% |
| Tax-exempt reserves | 132 | €1,127 | €1,127 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €24,776 | +€22,916 | +1232.1% |
| Profit (loss) carried forward | 14 | €11,660 | €0 | -€11,660 | -100.0% |
| Amounts payable | 17/49 | €94,128 | €81,829 | -€12,298 | -13.1% |
| Amounts payable after more than one year | 17 | €16,920 | €3,433 | -€13,487 | -79.7% |
| Financial debts | 170/4 | €16,920 | €3,433 | -€13,487 | -79.7% |
| Amounts payable within one year | 42/48 | €76,691 | €77,997 | +€1,306 | +1.7% |
| Current portion of amounts payable after more than one year | 42 | €14,830 | €13,482 | -€1,348 | -9.1% |
| Financial debts | 43 | €8,363 | €10,862 | +€2,499 | +29.9% |
| Credit institutions | 430/8 | €8,363 | €10,862 | +€2,499 | +29.9% |
| Trade debts | 44 | €299 | €2,198 | +€1,899 | +635.1% |
| Suppliers | 440/4 | €299 | €2,198 | +€1,899 | +635.1% |
| Taxes, remuneration and social security | 45 | €13,199 | €11,455 | -€1,744 | -13.2% |
| Taxes | 450/3 | €13,199 | €11,455 | -€1,744 | -13.2% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €40,000 | €40,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €517 | €400 | -€117 | -22.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,566 | €14,521 | +€955 | +7.0% |
| Other operating charges | 640/8 | €2,416 | €3,043 | +€626 | +25.9% |
| Gross operating margin | 9900 | €74,270 | €87,554 | +€13,284 | +17.9% |
| Operating profit (loss) | 9901 | €58,288 | €69,990 | +€11,702 | +20.1% |
| Financial income | 75/76B | €1,081 | €969 | -€112 | -10.4% |
| Recurring financial income | 75 | €1,081 | €969 | -€112 | -10.4% |
| Financial charges | 65/66B | €2,782 | €2,308 | -€473 | -17.0% |
| Recurring financial charges | 65 | €2,782 | €2,308 | -€473 | -17.0% |
| Profit (loss) for the period before taxes | 9903 | €56,588 | €68,651 | +€12,063 | +21.3% |
| Income taxes | 67/77 | €12,628 | €17,395 | +€4,767 | +37.8% |
| Profit (loss) for the period | 9904 | €43,960 | €51,256 | +€7,296 | +16.6% |
| Profit (loss) for the period to be appropriated | 9905 | €43,960 | €51,256 | +€7,296 | +16.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.