FFNOT: 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.
FFNOT
Largest movements
- Tangible fixed assets +€441,791
up €441,791 (+6401.3%), from €6,902 to €448,692
of which Land and buildings: +€442,698
- Receivables within one year -€252,730
down €252,730 (-83.0%), from €304,485 to €51,755
of which Trade receivables: -€272,763
- Cash +€198,858
up €198,858 (+266.9%), from €74,500 to €273,358
mainly Debts after one year (+€376,103) and Receivables within one year (+€252,730)
- Deferred charges and accrued income +€11,670
up €11,670 (+401.4%), from €2,907 to €14,577
- Debts after one year +€376,103
new in 2025: €376,103
- Tax, wage and social debts -€97,025
down €97,025 (-71.3%), from €136,156 to €39,132
- Reserves +€71,438
up €71,438 (+29.0%), from €246,713 to €318,151
of which Tax-exempt reserves: +€42,100
- Trade debts +€25,733
up €25,733 (+1487.4%), from €1,730 to €27,463
- Current portion of long-term debt +€22,083
new in 2025: €22,083
- Gross operating margin -€177,043
down €177,043 (-54.3%), from €326,177 to €149,134
- Taxes -€55,262
down €55,262 (-71.9%), from €76,816 to €21,553
- Depreciation +€48,604
up €48,604 (+12941.8%), from €376 to €48,980
- Write-downs +€4,800
new in 2025: €4,800
- Financial income +€3,682
up €3,682 (+9661.8%), from €38 to €3,720
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 | €388,794 | €788,382 | +€399,589 | +102.8% |
| Fixed assets | 21/28 | €6,902 | €448,692 | +€441,791 | +6401.3% |
| Tangible fixed assets | 22/27 | €6,902 | €448,692 | +€441,791 | +6401.3% |
| Land and buildings | 22 | - | €442,698 | +€442,698 | |
| Furniture and vehicles | 24 | €6,902 | €5,994 | -€908 | -13.2% |
| Current assets | 29/58 | €381,892 | €339,690 | -€42,202 | -11.1% |
| Amounts receivable within one year | 40/41 | €304,485 | €51,755 | -€252,730 | -83.0% |
| Trade receivables | 40 | €304,462 | €31,699 | -€272,763 | -89.6% |
| Other amounts receivable | 41 | €23 | €20,056 | +€20,033 | +88058.5% |
| Cash at bank and in hand | 54/58 | €74,500 | €273,358 | +€198,858 | +266.9% |
| Deferred charges and accrued income | 490/1 | €2,907 | €14,577 | +€11,670 | +401.4% |
| Total equity and liabilities | 10/49 | €388,794 | €788,382 | +€399,589 | +102.8% |
| Equity | 10/15 | €248,713 | €320,151 | +€71,438 | +28.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €246,713 | €318,151 | +€71,438 | +29.0% |
| Tax-exempt reserves | 132 | - | €42,100 | +€42,100 | |
| Distributable reserves | 133 | €246,713 | €276,051 | +€29,338 | +11.9% |
| Amounts payable | 17/49 | €140,080 | €468,231 | +€328,151 | +234.3% |
| Amounts payable after more than one year | 17 | - | €376,103 | +€376,103 | |
| Financial debts | 170/4 | - | €376,103 | +€376,103 | |
| Amounts payable within one year | 42/48 | €140,080 | €92,129 | -€47,952 | -34.2% |
| Current portion of amounts payable after more than one year | 42 | - | €22,083 | +€22,083 | |
| Trade debts | 44 | €1,730 | €27,463 | +€25,733 | +1487.4% |
| Suppliers | 440/4 | €1,730 | €27,463 | +€25,733 | +1487.4% |
| Taxes, remuneration and social security | 45 | €136,156 | €39,132 | -€97,025 | -71.3% |
| Taxes | 450/3 | €136,156 | €39,132 | -€97,025 | -71.3% |
| Other amounts payable | 47/48 | €2,194 | €3,450 | +€1,256 | +57.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €376 | €48,980 | +€48,604 | +12941.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €4,800 | +€4,800 | |
| Other operating charges | 640/8 | €126 | €2,601 | +€2,475 | +1963.9% |
| Gross operating margin | 9900 | €326,177 | €149,134 | -€177,043 | -54.3% |
| Operating profit (loss) | 9901 | €325,675 | €92,753 | -€232,922 | -71.5% |
| Financial income | 75/76B | €38 | €3,720 | +€3,682 | +9661.8% |
| Recurring financial income | 75 | €38 | €3,720 | +€3,682 | +9661.8% |
| Financial charges | 65/66B | €2,184 | €3,483 | +€1,298 | +59.4% |
| Recurring financial charges | 65 | €2,184 | €3,483 | +€1,298 | +59.4% |
| Profit (loss) for the period before taxes | 9903 | €323,529 | €92,991 | -€230,538 | -71.3% |
| Transfer to deferred taxes | 680 | - | €42,100 | +€42,100 | |
| Income taxes | 67/77 | €76,816 | €21,553 | -€55,262 | -71.9% |
| Profit (loss) for the period | 9904 | €246,713 | €29,338 | -€217,376 | -88.1% |
| Profit (loss) for the period to be appropriated | 9905 | €246,713 | €29,338 | -€217,376 | -88.1% |
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 3 October 2026 via checked.be.