FDR-PROJECTS: 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.
FDR-PROJECTS
Largest movements
- Tangible fixed assets -€27,156
down €27,156 (-5.5%), from €495,293 to €468,137
- Cash +€16,776
up €16,776 (+58.7%), from €28,580 to €45,356
mainly Net result for the year (+€34,572) and Depreciation (+€28,787)
- Reserves +€34,572
up €34,572 (+13.0%), from €265,610 to €300,182
of which Distributable reserves: +€34,572
- Debts after one year -€31,737
down €31,737 (-15.9%), from €199,971 to €168,233
- Trade debts -€21,593
down €21,593 (-35.6%), from €60,623 to €39,030
- Gross operating margin +€5,232
up €5,232 (+6.0%), from €87,310 to €92,543
- Taxes +€1,773
up €1,773 (+11.0%), from €16,106 to €17,879
- Depreciation -€1,473
down €1,473 (-4.9%), from €30,260 to €28,787
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 | €600,408 | €580,668 | -€19,740 | -3.3% |
| Fixed assets | 21/28 | €495,293 | €468,137 | -€27,156 | -5.5% |
| Tangible fixed assets | 22/27 | €495,293 | €468,137 | -€27,156 | -5.5% |
| Land and buildings | 22 | €464,290 | €451,366 | -€12,923 | -2.8% |
| Plant, machinery and equipment | 23 | €15,506 | €9,758 | -€5,747 | -37.1% |
| Furniture and vehicles | 24 | €15,498 | €7,012 | -€8,485 | -54.8% |
| Current assets | 29/58 | €105,115 | €112,531 | +€7,416 | +7.1% |
| Stocks and contracts in progress | 3 | €13,702 | €7,967 | -€5,735 | -41.9% |
| Stocks | 30/36 | €13,702 | €7,967 | -€5,735 | -41.9% |
| Amounts receivable within one year | 40/41 | €53,019 | €48,460 | -€4,559 | -8.6% |
| Trade receivables | 40 | €39,578 | €20,645 | -€18,933 | -47.8% |
| Other amounts receivable | 41 | €13,441 | €27,815 | +€14,374 | +106.9% |
| Cash at bank and in hand | 54/58 | €28,580 | €45,356 | +€16,776 | +58.7% |
| Deferred charges and accrued income | 490/1 | €9,814 | €10,748 | +€934 | +9.5% |
| Total equity and liabilities | 10/49 | €600,408 | €580,668 | -€19,740 | -3.3% |
| Equity | 10/15 | €284,210 | €318,782 | +€34,572 | +12.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €265,610 | €300,182 | +€34,572 | +13.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €755 | €755 | = | 0.0% |
| Distributable reserves | 133 | €262,995 | €297,567 | +€34,572 | +13.1% |
| Amounts payable | 17/49 | €316,198 | €261,886 | -€54,312 | -17.2% |
| Amounts payable after more than one year | 17 | €199,971 | €168,233 | -€31,737 | -15.9% |
| Financial debts | 170/4 | €199,971 | €168,233 | -€31,737 | -15.9% |
| Amounts payable within one year | 42/48 | €116,227 | €92,737 | -€23,491 | -20.2% |
| Current portion of amounts payable after more than one year | 42 | €47,645 | €42,662 | -€4,983 | -10.5% |
| Financial debts | 43 | €867 | €450 | -€417 | -48.1% |
| Credit institutions | 430/8 | €867 | €450 | -€417 | -48.1% |
| Trade debts | 44 | €60,623 | €39,030 | -€21,593 | -35.6% |
| Suppliers | 440/4 | €60,623 | €39,030 | -€21,593 | -35.6% |
| Taxes, remuneration and social security | 45 | €7,093 | €10,596 | +€3,503 | +49.4% |
| Taxes | 450/3 | €7,093 | €10,596 | +€3,503 | +49.4% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | €916 | +€916 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,260 | €28,787 | -€1,473 | -4.9% |
| Other operating charges | 640/8 | €5,915 | €5,450 | -€465 | -7.9% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €87,310 | €92,543 | +€5,232 | +6.0% |
| Operating profit (loss) | 9901 | €51,135 | €58,306 | +€7,170 | +14.0% |
| Financial income | 75/76B | €258 | €981 | +€722 | +279.8% |
| Recurring financial income | 75 | €258 | €981 | +€722 | +279.8% |
| Financial charges | 65/66B | €7,656 | €6,835 | -€821 | -10.7% |
| Recurring financial charges | 65 | €7,656 | €6,835 | -€821 | -10.7% |
| Profit (loss) for the period before taxes | 9903 | €43,737 | €52,451 | +€8,714 | +19.9% |
| Income taxes | 67/77 | €16,106 | €17,879 | +€1,773 | +11.0% |
| Profit (loss) for the period | 9904 | €27,632 | €34,572 | +€6,940 | +25.1% |
| Profit (loss) for the period to be appropriated | 9905 | €27,632 | €34,572 | +€6,940 | +25.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.