FDS Construct: 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.
FDS Construct
Largest movements
- Cash -€274,655
down €274,655 (-99.9%), from €274,832 to €177
mainly Current portion of long-term debt (-€326,676) and Accrued charges and deferred income (-€17,723)
- Stocks and contracts -€39,316
down €39,316 (-5.3%), from €735,719 to €696,404
of which Contracts in progress: -€360,394
- Current portion of long-term debt -€326,676
down €326,676 (-65.1%), from €501,880 to €175,203
- Accrued charges and deferred income -€17,723
down €17,723 (-86.6%), from €20,454 to €2,731
- Trade debts +€17,393
up €17,393 (+23.3%), from €74,708 to €92,101
- Reserves +€15,418
up €15,418 (+162.2%), from €9,508 to €24,926
- Financial charges -€20,266
down €20,266 (-96.5%), from €20,996 to €730
- Financial income -€7,332
down €7,332 (-81.8%), from €8,967 to €1,635
- Gross operating margin -€4,027
down €4,027 (-14.6%), from €27,552 to €23,525
- Write-downs +€3,200
new in 2025: €3,200
- Depreciation -€2,331
down €2,331 (-100.0%), from €2,331 to €0
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 | €1,173,451 | €864,097 | -€309,353 | -26.4% |
| Current assets | 29/58 | €1,173,451 | €864,097 | -€309,353 | -26.4% |
| Stocks and contracts in progress | 3 | €735,719 | €696,404 | -€39,316 | -5.3% |
| Stocks | 30/36 | - | €321,079 | +€321,079 | |
| Contracts in progress | 37 | €735,719 | €375,325 | -€360,394 | -49.0% |
| Amounts receivable within one year | 40/41 | €162,899 | €167,516 | +€4,617 | +2.8% |
| Trade receivables | 40 | €34,167 | €23,391 | -€10,776 | -31.5% |
| Other amounts receivable | 41 | €128,732 | €144,125 | +€15,392 | +12.0% |
| Cash at bank and in hand | 54/58 | €274,832 | €177 | -€274,655 | -99.9% |
| Total equity and liabilities | 10/49 | €1,173,451 | €864,097 | -€309,353 | -26.4% |
| Equity | 10/15 | €9,508 | €24,926 | +€15,418 | +162.2% |
| Reserves | 13 | €9,508 | €24,926 | +€15,418 | +162.2% |
| Distributable reserves | 133 | €9,508 | €24,926 | +€15,418 | +162.2% |
| Amounts payable | 17/49 | €1,163,942 | €839,171 | -€324,772 | -27.9% |
| Amounts payable after more than one year | 17 | €560,918 | €557,918 | -€3,000 | -0.5% |
| Financial debts | 170/4 | €560,918 | €557,918 | -€3,000 | -0.5% |
| Amounts payable within one year | 42/48 | €582,570 | €278,521 | -€304,049 | -52.2% |
| Current portion of amounts payable after more than one year | 42 | €501,880 | €175,203 | -€326,676 | -65.1% |
| Trade debts | 44 | €74,708 | €92,101 | +€17,393 | +23.3% |
| Suppliers | 440/4 | €74,708 | €92,101 | +€17,393 | +23.3% |
| Taxes, remuneration and social security | 45 | €5,983 | €4,017 | -€1,965 | -32.8% |
| Taxes | 450/3 | €5,983 | €4,017 | -€1,965 | -32.8% |
| Other amounts payable | 47/48 | - | €7,200 | +€7,200 | |
| Accrued charges and deferred income | 492/3 | €20,454 | €2,731 | -€17,723 | -86.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,331 | €0 | -€2,331 | -100.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,200 | +€3,200 | |
| Other operating charges | 640/8 | €118 | €1,354 | +€1,236 | +1047.5% |
| Gross operating margin | 9900 | €27,552 | €23,525 | -€4,027 | -14.6% |
| Operating profit (loss) | 9901 | €25,103 | €18,971 | -€6,132 | -24.4% |
| Financial income | 75/76B | €8,967 | €1,635 | -€7,332 | -81.8% |
| Recurring financial income | 75 | €8,967 | €1,635 | -€7,332 | -81.8% |
| Financial charges | 65/66B | €20,996 | €730 | -€20,266 | -96.5% |
| Recurring financial charges | 65 | €20,996 | €730 | -€20,266 | -96.5% |
| Profit (loss) for the period before taxes | 9903 | €13,074 | €19,875 | +€6,802 | +52.0% |
| Income taxes | 67/77 | €3,566 | €4,457 | +€891 | +25.0% |
| Profit (loss) for the period | 9904 | €9,508 | €15,418 | +€5,910 | +62.2% |
| Profit (loss) for the period to be appropriated | 9905 | €9,508 | €15,418 | +€5,910 | +62.2% |
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 30 September 2026 via checked.be.