FFX: 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.
FFX
Largest movements
- Tangible fixed assets +€81,064
up €81,064 (+50.6%), from €160,265 to €241,329
of which Furniture and vehicles: +€104,595
- Receivables within one year +€16,752
up €16,752 (+10.3%), from €162,776 to €179,527
of which Trade receivables: +€39,641
- Debts after one year +€72,408
up €72,408 (+106%), from €68,457 to €140,865
- Short-term financial debts -€70,426
down €70,426 (-58.8%), from €119,688 to €49,261
- Advances received +€69,223
up €69,223 (+769%), from €9,000 to €78,223
- Trade debts -€27,908
down €27,908 (-16.1%), from €173,776 to €145,868
- Profit (loss) carried forward +€22,627
up €22,627, from -€19,153 to €3,473
- Gross operating margin +€89,066
up €89,066 (+45.6%), from €195,419 to €284,485
- Other operating charges -€19,333
down €19,333 (-84.3%), from €22,934 to €3,601
- Write-downs +€18,071
no longer reported in 2025 (was -€18,071)
- Staff costs +€16,260
up €16,260 (+10.2%), from €159,774 to €176,034
- Depreciation +€9,379
up €9,379 (+21.4%), from €43,819 to €53,197
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 | €437,915 | €534,730 | +€96,816 | +22.1% |
| Fixed assets | 21/28 | €172,573 | €250,670 | +€78,097 | +45.3% |
| Intangible fixed assets | 21 | €11,772 | €8,804 | -€2,968 | -25.2% |
| Tangible fixed assets | 22/27 | €160,265 | €241,329 | +€81,064 | +50.6% |
| Plant, machinery and equipment | 23 | €27,428 | €27,144 | -€284 | -1.0% |
| Furniture and vehicles | 24 | €18,134 | €122,729 | +€104,595 | +577% |
| Leasing and similar rights | 25 | €105,700 | €81,819 | -€23,881 | -22.6% |
| Other tangible fixed assets | 26 | €9,003 | €9,637 | +€634 | +7.0% |
| Financial fixed assets | 28 | €536 | €536 | = | 0.0% |
| Current assets | 29/58 | €265,342 | €284,061 | +€18,719 | +7.1% |
| Stocks and contracts in progress | 3 | €47,219 | €52,458 | +€5,239 | +11.1% |
| Stocks | 30/36 | €47,219 | €52,458 | +€5,239 | +11.1% |
| Amounts receivable within one year | 40/41 | €162,776 | €179,527 | +€16,752 | +10.3% |
| Trade receivables | 40 | €118,367 | €158,008 | +€39,641 | +33.5% |
| Other amounts receivable | 41 | €44,408 | €21,519 | -€22,889 | -51.5% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €18,940 | €17,537 | -€1,403 | -7.4% |
| Deferred charges and accrued income | 490/1 | €36,407 | €34,539 | -€1,868 | -5.1% |
| Total equity and liabilities | 10/49 | €437,915 | €534,730 | +€96,816 | +22.1% |
| Equity | 10/15 | -€553 | €32,073 | +€32,627 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €0 | €10,000 | +€10,000 | |
| Distributable reserves | 133 | €0 | €10,000 | +€10,000 | |
| Profit (loss) carried forward | 14 | -€19,153 | €3,473 | +€22,627 | |
| Investment grants | 15 | €0 | - | = | |
| Amounts payable | 17/49 | €438,468 | €502,657 | +€64,189 | +14.6% |
| Amounts payable after more than one year | 17 | €68,457 | €140,865 | +€72,408 | +106% |
| Financial debts | 170/4 | €68,457 | €140,865 | +€72,408 | +106% |
| Amounts payable within one year | 42/48 | €367,450 | €360,036 | -€7,414 | -2.0% |
| Current portion of amounts payable after more than one year | 42 | €29,232 | €41,940 | +€12,707 | +43.5% |
| Financial debts | 43 | €119,688 | €49,261 | -€70,426 | -58.8% |
| Credit institutions | 430/8 | €119,688 | €49,261 | -€70,426 | -58.8% |
| Trade debts | 44 | €173,776 | €145,868 | -€27,908 | -16.1% |
| Suppliers | 440/4 | €173,776 | €145,868 | -€27,908 | -16.1% |
| Advances received on contracts in progress | 46 | €9,000 | €78,223 | +€69,223 | +769% |
| Taxes, remuneration and social security | 45 | €16,424 | €24,212 | +€7,788 | +47.4% |
| Taxes | 450/3 | €11,667 | €8,172 | -€3,495 | -30.0% |
| Remuneration and social security | 454/9 | €4,756 | €16,040 | +€11,284 | +237% |
| Other amounts payable | 47/48 | €19,331 | €20,532 | +€1,201 | +6.2% |
| Accrued charges and deferred income | 492/3 | €2,561 | €1,756 | -€805 | -31.4% |
| Remuneration, social security and pensions | 62 | €159,774 | €176,034 | +€16,260 | +10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,819 | €53,197 | +€9,379 | +21.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€18,071 | - | +€18,071 | |
| Other operating charges | 640/8 | €22,934 | €3,601 | -€19,333 | -84.3% |
| Gross operating margin | 9900 | €195,419 | €284,485 | +€89,066 | +45.6% |
| Operating profit (loss) | 9901 | -€13,037 | €51,653 | +€64,690 | |
| Financial income | 75/76B | €559 | €53 | -€506 | -90.6% |
| Recurring financial income | 75 | €559 | €53 | -€506 | -90.6% |
| Financial charges | 65/66B | €10,482 | €14,620 | +€4,138 | +39.5% |
| Recurring financial charges | 65 | €10,482 | €14,620 | +€4,138 | +39.5% |
| Profit (loss) for the period before taxes | 9903 | -€22,960 | €37,086 | +€60,046 | |
| Income taxes | 67/77 | €227 | €4,459 | +€4,232 | +1,865% |
| Profit (loss) for the period | 9904 | -€23,187 | €32,627 | +€55,814 | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,187 | €32,627 | +€55,814 |
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 13 October 2026 via checked.be.