FEDERAL SECURITY GROUP: what changed
Two financial 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.
FEDERAL SECURITY GROUP
Largest movements
- Cash -€40,494
down €40,494 (-48.2%), from €84,015 to €43,521
mainly Receivables within one year (-€35,672) and Other debts (-€18,258)
- Receivables within one year +€35,672
up €35,672 (+82.0%), from €43,506 to €79,178
of which Trade receivables: +€38,935
- Deferred charges and accrued income +€5,180
up €5,180 (+585%), from €886 to €6,066
- Other debts -€18,258
down €18,258 (-40.4%), from €45,195 to €26,936
- Trade debts +€16,981
up €16,981 (+36.8%), from €46,190 to €63,171
- Debts after one year -€2,827
no longer reported in 2025 (was €2,827)
- Profit (loss) carried forward +€2,219
up €2,219 (+10.2%), from €21,768 to €23,987
- Tax, wage and social debts +€1,937
up €1,937 (+19.4%), from €9,964 to €11,901
- Gross operating margin -€10,417
down €10,417 (-27.4%), from €38,052 to €27,635
- Financial charges +€6,094
up €6,094 (+1,012%), from €602 to €6,696
- Taxes +€1,822
up €1,822 (+31.6%), from €5,755 to €7,577
- Depreciation +€1,418
up €1,418 (+19.0%), from €7,452 to €8,870
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.
Derived cash bridge
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 | €140,965 | €140,485 | -€480 | -0.3% |
| Fixed assets | 21/28 | €12,558 | €11,720 | -€838 | -6.7% |
| Tangible fixed assets | 22/27 | €12,308 | €11,470 | -€838 | -6.8% |
| Plant, machinery and equipment | 23 | - | €2,295 | +€2,295 | |
| Furniture and vehicles | 24 | €12,308 | €9,175 | -€3,133 | -25.5% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €128,407 | €128,765 | +€358 | +0.3% |
| Amounts receivable within one year | 40/41 | €43,506 | €79,178 | +€35,672 | +82.0% |
| Trade receivables | 40 | €40,243 | €79,178 | +€38,935 | +96.7% |
| Other amounts receivable | 41 | €3,263 | - | -€3,263 | |
| Cash at bank and in hand | 54/58 | €84,015 | €43,521 | -€40,494 | -48.2% |
| Deferred charges and accrued income | 490/1 | €886 | €6,066 | +€5,180 | +585% |
| Total equity and liabilities | 10/49 | €140,965 | €140,485 | -€480 | -0.3% |
| Equity | 10/15 | €36,258 | €38,477 | +€2,219 | +6.1% |
| Contributions | 10/11 | €12,600 | €12,600 | = | 0.0% |
| Reserves | 13 | €1,890 | €1,890 | = | 0.0% |
| Distributable reserves | 133 | €1,890 | €1,890 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,768 | €23,987 | +€2,219 | +10.2% |
| Amounts payable | 17/49 | €104,707 | €102,008 | -€2,699 | -2.6% |
| Amounts payable after more than one year | 17 | €2,827 | - | -€2,827 | |
| Financial debts | 170/4 | €2,827 | - | -€2,827 | |
| Amounts payable within one year | 42/48 | €101,349 | €102,008 | +€659 | +0.7% |
| Trade debts | 44 | €46,190 | €63,171 | +€16,981 | +36.8% |
| Suppliers | 440/4 | €46,190 | €63,171 | +€16,981 | +36.8% |
| Taxes, remuneration and social security | 45 | €9,964 | €11,901 | +€1,937 | +19.4% |
| Taxes | 450/3 | €9,964 | €11,901 | +€1,937 | +19.4% |
| Other amounts payable | 47/48 | €45,195 | €26,936 | -€18,258 | -40.4% |
| Accrued charges and deferred income | 492/3 | €531 | - | -€531 | |
| Remuneration, social security and pensions | 62 | €1,156 | €1,014 | -€142 | -12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,452 | €8,870 | +€1,418 | +19.0% |
| Other operating charges | 640/8 | €1,318 | €1,353 | +€35 | +2.7% |
| Gross operating margin | 9900 | €38,052 | €27,635 | -€10,417 | -27.4% |
| Operating profit (loss) | 9901 | €28,127 | €16,399 | -€11,728 | -41.7% |
| Financial income | 75/76B | €20 | €93 | +€73 | +365% |
| Recurring financial income | 75 | €20 | €93 | +€73 | +365% |
| Financial charges | 65/66B | €602 | €6,696 | +€6,094 | +1,012% |
| Recurring financial charges | 65 | €602 | €6,696 | +€6,094 | +1,012% |
| Profit (loss) for the period before taxes | 9903 | €27,545 | €9,796 | -€17,749 | -64.4% |
| Income taxes | 67/77 | €5,755 | €7,577 | +€1,822 | +31.6% |
| Profit (loss) for the period | 9904 | €21,789 | €2,219 | -€19,570 | -89.8% |
| Profit (loss) for the period to be appropriated | 9905 | €21,789 | €2,219 | -€19,570 | -89.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.