FDW 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.
FDW Management
Largest movements
- Cash +€14,370
up €14,370 (+195.7%), from €7,343 to €21,713
mainly Net result for the year (+€10,867) and Depreciation (+€6,406)
- Tangible fixed assets +€1,866
up €1,866 (+8.2%), from €22,789 to €24,654
- Profit (loss) carried forward +€10,034
up €10,034 (+41.3%), from €24,290 to €34,324
- Accrued charges and deferred income +€3,634
new in 2025: €3,634
- Other debts +€3,290
up €3,290 (+471.0%), from €699 to €3,989
- Tax, wage and social debts -€1,257
down €1,257 (-12.9%), from €9,717 to €8,460
- Trade debts +€704
up €704 (+2726.7%), from €26 to €729
- Gross operating margin -€14,353
down €14,353 (-39.5%), from €36,348 to €21,994
- Taxes -€2,917
down €2,917 (-44.8%), from €6,517 to €3,600
- Depreciation +€1,318
up €1,318 (+25.9%), from €5,088 to €6,406
- Other operating charges +€566
up €566 (+146.1%), from €387 to €953
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 | €36,231 | €52,636 | +€16,405 | +45.3% |
| Fixed assets | 21/28 | €22,789 | €24,654 | +€1,866 | +8.2% |
| Tangible fixed assets | 22/27 | €22,789 | €24,654 | +€1,866 | +8.2% |
| Furniture and vehicles | 24 | €22,789 | €24,654 | +€1,866 | +8.2% |
| Current assets | 29/58 | €13,443 | €27,982 | +€14,539 | +108.2% |
| Amounts receivable within one year | 40/41 | €5,608 | €5,784 | +€176 | +3.1% |
| Trade receivables | 40 | €932 | €5,103 | +€4,171 | +447.6% |
| Other amounts receivable | 41 | €4,676 | €680 | -€3,996 | -85.5% |
| Cash at bank and in hand | 54/58 | €7,343 | €21,713 | +€14,370 | +195.7% |
| Deferred charges and accrued income | 490/1 | €492 | €485 | -€6 | -1.3% |
| Total equity and liabilities | 10/49 | €36,231 | €52,636 | +€16,405 | +45.3% |
| Equity | 10/15 | €25,790 | €35,824 | +€10,034 | +38.9% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,290 | €34,324 | +€10,034 | +41.3% |
| Amounts payable | 17/49 | €10,442 | €16,812 | +€6,370 | +61.0% |
| Amounts payable within one year | 42/48 | €10,442 | €13,178 | +€2,736 | +26.2% |
| Trade debts | 44 | €26 | €729 | +€704 | +2726.7% |
| Suppliers | 440/4 | €26 | €729 | +€704 | +2726.7% |
| Taxes, remuneration and social security | 45 | €9,717 | €8,460 | -€1,257 | -12.9% |
| Taxes | 450/3 | €9,717 | €8,460 | -€1,257 | -12.9% |
| Other amounts payable | 47/48 | €699 | €3,989 | +€3,290 | +471.0% |
| Accrued charges and deferred income | 492/3 | - | €3,634 | +€3,634 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,088 | €6,406 | +€1,318 | +25.9% |
| Other operating charges | 640/8 | €387 | €953 | +€566 | +146.1% |
| Gross operating margin | 9900 | €36,348 | €21,994 | -€14,353 | -39.5% |
| Operating profit (loss) | 9901 | €30,872 | €14,635 | -€16,237 | -52.6% |
| Financial income | 75/76B | €6 | €36 | +€30 | +522.5% |
| Recurring financial income | 75 | €6 | €36 | +€30 | +522.5% |
| Financial charges | 65/66B | €71 | €204 | +€133 | +187.3% |
| Recurring financial charges | 65 | €71 | €204 | +€133 | +187.3% |
| Profit (loss) for the period before taxes | 9903 | €30,807 | €14,467 | -€16,340 | -53.0% |
| Income taxes | 67/77 | €6,517 | €3,600 | -€2,917 | -44.8% |
| Profit (loss) for the period | 9904 | €24,290 | €10,867 | -€13,422 | -55.3% |
| Profit (loss) for the period to be appropriated | 9905 | €24,290 | €10,867 | -€13,422 | -55.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.