FILO V: 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.
FILO V
Largest movements
- Tangible fixed assets +€226,752
up €226,752 (+11.7%), from €1.9m to €2.2m
of which Land and buildings: +€226,752
- Other debts +€150,000
up €150,000 (+78.6%), from €190,767 to €340,767
- Trade debts +€143,210
up €143,210 (+19,095%), from €750 to €143,960
- Debts after one year -€120,483
down €120,483 (-11.4%), from €1.1m to €934,529
- Reserves +€57,917
up €57,917 (+9.0%), from €646,259 to €704,176
of which Distributable reserves: +€57,917
- Financial income -€15,265
no longer reported in 2025 (was €15,265)
- Financial charges -€8,139
down €8,139 (-21.1%), from €38,553 to €30,414
- Taxes -€6,176
down €6,176 (-40.5%), from €15,236 to €9,060
- Gross operating margin -€6,084
down €6,084 (-3.1%), from €194,297 to €188,213
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 | €2,071,505 | €2,297,460 | +€225,955 | +10.9% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €1,935,332 | €2,162,084 | +€226,752 | +11.7% |
| Tangible fixed assets | 22/27 | €1,934,947 | €2,161,699 | +€226,752 | +11.7% |
| Land and buildings | 22 | €1,934,947 | €2,161,699 | +€226,752 | +11.7% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Financial fixed assets | 28 | €385 | €385 | = | 0.0% |
| Current assets | 29/58 | €136,173 | €135,376 | -€796 | -0.6% |
| Amounts receivable within one year | 40/41 | €22,896 | €20,716 | -€2,180 | -9.5% |
| Trade receivables | 40 | €7,854 | €13,523 | +€5,669 | +72.2% |
| Other amounts receivable | 41 | €15,041 | €7,193 | -€7,849 | -52.2% |
| Cash at bank and in hand | 54/58 | €113,002 | €113,181 | +€179 | +0.2% |
| Deferred charges and accrued income | 490/1 | €276 | €1,480 | +€1,204 | +437% |
| Total equity and liabilities | 10/49 | €2,071,505 | €2,297,460 | +€225,955 | +10.9% |
| Equity | 10/15 | €686,259 | €744,176 | +€57,917 | +8.4% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €646,259 | €704,176 | +€57,917 | +9.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €627,509 | €685,426 | +€57,917 | +9.2% |
| Amounts payable | 17/49 | €1,385,246 | €1,553,284 | +€168,038 | +12.1% |
| Amounts payable after more than one year | 17 | €1,055,011 | €934,529 | -€120,483 | -11.4% |
| Financial debts | 170/4 | €1,055,011 | €934,529 | -€120,483 | -11.4% |
| Amounts payable within one year | 42/48 | €310,462 | €605,209 | +€294,748 | +94.9% |
| Current portion of amounts payable after more than one year | 42 | €118,672 | €120,483 | +€1,810 | +1.5% |
| Trade debts | 44 | €750 | €143,960 | +€143,210 | +19,095% |
| Suppliers | 440/4 | €750 | €143,960 | +€143,210 | +19,095% |
| Taxes, remuneration and social security | 45 | €273 | - | -€273 | |
| Taxes | 450/3 | €273 | - | -€273 | |
| Other amounts payable | 47/48 | €190,767 | €340,767 | +€150,000 | +78.6% |
| Accrued charges and deferred income | 492/3 | €19,773 | €13,546 | -€6,227 | -31.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,495 | €80,405 | +€910 | +1.1% |
| Other operating charges | 640/8 | €10,455 | €10,418 | -€37 | -0.4% |
| Gross operating margin | 9900 | €194,297 | €188,213 | -€6,084 | -3.1% |
| Operating profit (loss) | 9901 | €104,347 | €97,391 | -€6,956 | -6.7% |
| Financial income | 75/76B | €15,265 | - | -€15,265 | |
| Recurring financial income | 75 | €15,265 | - | -€15,265 | |
| Financial charges | 65/66B | €38,553 | €30,414 | -€8,139 | -21.1% |
| Recurring financial charges | 65 | €38,553 | €30,414 | -€8,139 | -21.1% |
| Profit (loss) for the period before taxes | 9903 | €81,059 | €66,977 | -€14,082 | -17.4% |
| Income taxes | 67/77 | €15,236 | €9,060 | -€6,176 | -40.5% |
| Profit (loss) for the period | 9904 | €65,823 | €57,917 | -€7,906 | -12.0% |
| Profit (loss) for the period to be appropriated | 9905 | €65,823 | €57,917 | -€7,906 | -12.0% |
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 26 October 2026 via checked.be.