FDU 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.
FDU MANAGEMENT
Largest movements
- Receivables within one year -€20,708
down €20,708 (-96.4%), from €21,488 to €781
- Tangible fixed assets -€4,680
down €4,680 (-28.1%), from €16,646 to €11,966
of which Furniture and vehicles: -€4,560
- Cash +€449
up €449 (+8.7%), from €5,164 to €5,613
mainly Receivables within one year (+€20,708) and Other debts (+€5,864)
- Profit (loss) carried forward -€25,725
down €25,725 (-76.6%), from -€33,587 to -€59,312
- Other debts +€5,864
up €5,864 (+56.4%), from €10,395 to €16,259
- Debts after one year -€3,619
down €3,619 (-53.5%), from €6,767 to €3,147
- Tax, wage and social debts -€2,798
down €2,798 (-73.5%), from €3,804 to €1,007
- Trade debts +€2,376
up €2,376 (+13.7%), from €17,371 to €19,747
- Gross operating margin -€8,727
down €8,727 (-97.1%), from -€8,986 to -€17,713
- Financial charges -€667
down €667 (-48.8%), from €1,368 to €701
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 | €44,567 | €19,650 | -€24,917 | -55.9% |
| Fixed assets | 21/28 | €16,689 | €11,966 | -€4,722 | -28.3% |
| Tangible fixed assets | 22/27 | €16,646 | €11,966 | -€4,680 | -28.1% |
| Furniture and vehicles | 24 | €16,406 | €11,846 | -€4,560 | -27.8% |
| Other tangible fixed assets | 26 | €240 | €120 | -€120 | -50.0% |
| Financial fixed assets | 28 | €42 | - | -€42 | |
| Current assets | 29/58 | €27,878 | €7,684 | -€20,194 | -72.4% |
| Amounts receivable within one year | 40/41 | €21,488 | €781 | -€20,708 | -96.4% |
| Trade receivables | 40 | €21,488 | €781 | -€20,708 | -96.4% |
| Cash at bank and in hand | 54/58 | €5,164 | €5,613 | +€449 | +8.7% |
| Deferred charges and accrued income | 490/1 | €1,226 | €1,290 | +€65 | +5.3% |
| Total equity and liabilities | 10/49 | €44,567 | €19,650 | -€24,917 | -55.9% |
| Equity | 10/15 | €1,595 | -€24,130 | -€25,725 | |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €14,723 | €14,723 | = | 0.0% |
| Tax-exempt reserves | 132 | €23 | €23 | = | 0.0% |
| Distributable reserves | 133 | €14,700 | €14,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€33,587 | -€59,312 | -€25,725 | -76.6% |
| Amounts payable | 17/49 | €42,972 | €43,780 | +€808 | +1.9% |
| Amounts payable after more than one year | 17 | €6,767 | €3,147 | -€3,619 | -53.5% |
| Financial debts | 170/4 | €6,767 | €3,147 | -€3,619 | -53.5% |
| Amounts payable within one year | 42/48 | €35,026 | €40,633 | +€5,606 | +16.0% |
| Current portion of amounts payable after more than one year | 42 | €3,455 | €3,619 | +€164 | +4.8% |
| Trade debts | 44 | €17,371 | €19,747 | +€2,376 | +13.7% |
| Suppliers | 440/4 | €17,371 | €19,747 | +€2,376 | +13.7% |
| Taxes, remuneration and social security | 45 | €3,804 | €1,007 | -€2,798 | -73.5% |
| Taxes | 450/3 | €3,804 | €1,007 | -€2,798 | -73.5% |
| Other amounts payable | 47/48 | €10,395 | €16,259 | +€5,864 | +56.4% |
| Accrued charges and deferred income | 492/3 | €1,179 | - | -€1,179 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,651 | €4,680 | +€30 | +0.6% |
| Other operating charges | 640/8 | €2,010 | €2,185 | +€175 | +8.7% |
| Gross operating margin | 9900 | -€8,986 | -€17,713 | -€8,727 | -97.1% |
| Operating profit (loss) | 9901 | -€15,647 | -€24,579 | -€8,931 | -57.1% |
| Financial income | 75/76B | €3 | €2 | -€1 | -31.2% |
| Recurring financial income | 75 | €3 | €2 | -€1 | -31.2% |
| Financial charges | 65/66B | €1,368 | €701 | -€667 | -48.8% |
| Recurring financial charges | 65 | €1,368 | €701 | -€667 | -48.8% |
| Profit (loss) for the period before taxes | 9903 | -€17,012 | -€25,278 | -€8,265 | -48.6% |
| Income taxes | 67/77 | €427 | €447 | +€20 | +4.7% |
| Profit (loss) for the period | 9904 | -€17,439 | -€25,725 | -€8,285 | -47.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,439 | -€25,725 | -€8,285 | -47.5% |
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 7 October 2026 via checked.be.