FK MANAGEMENT: 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.
FK MANAGEMENT
Largest movements
- Deferred charges and accrued income -€91,337
down €91,337 (-87.9%), from €103,856 to €12,519
- Cash +€58,803
up €58,803 (+104%), from €56,697 to €115,501
mainly Deferred charges and accrued income (+€91,337) and Depreciation (+€38,387)
- Receivables within one year +€38,652
up €38,652 (+35.0%), from €110,380 to €149,032
of which Trade receivables: +€26,154
- Tangible fixed assets -€38,387
down €38,387 (-7.1%), from €541,809 to €503,421
of which Land and buildings: -€32,462
- Debts after one year -€23,800
down €23,800 (-9.0%), from €265,236 to €241,436
- Trade debts -€14,059
down €14,059 (-82.8%), from €16,969 to €2,910
- Reserves +€13,752
up €13,752 (+3.2%), from €426,949 to €440,701
of which Distributable reserves: +€19,494
- Gross operating margin -€22,968
down €22,968 (-25.7%), from €89,337 to €66,368
- Taxes -€5,319
down €5,319 (-30.1%), from €17,673 to €12,353
- Depreciation -€3,080
down €3,080 (-7.4%), from €41,467 to €38,387
- Financial charges -€2,466
down €2,466 (-24.3%), from €10,135 to €7,670
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 | €887,743 | €855,473 | -€32,269 | -3.6% |
| Fixed assets | 21/28 | €541,809 | €503,421 | -€38,387 | -7.1% |
| Tangible fixed assets | 22/27 | €541,809 | €503,421 | -€38,387 | -7.1% |
| Land and buildings | 22 | €517,515 | €485,054 | -€32,462 | -6.3% |
| Plant, machinery and equipment | 23 | €15,500 | €15,500 | = | 0.0% |
| Furniture and vehicles | 24 | €8,793 | €2,868 | -€5,925 | -67.4% |
| Current assets | 29/58 | €345,934 | €352,052 | +€6,118 | +1.8% |
| Amounts receivable after more than one year | 29 | €75,000 | €75,000 | = | 0.0% |
| Other amounts receivable | 291 | €75,000 | €75,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €110,380 | €149,032 | +€38,652 | +35.0% |
| Trade receivables | 40 | €3,478 | €29,631 | +€26,154 | +752% |
| Other amounts receivable | 41 | €106,903 | €119,401 | +€12,498 | +11.7% |
| Cash at bank and in hand | 54/58 | €56,697 | €115,501 | +€58,803 | +104% |
| Deferred charges and accrued income | 490/1 | €103,856 | €12,519 | -€91,337 | -87.9% |
| Total equity and liabilities | 10/49 | €887,743 | €855,473 | -€32,269 | -3.6% |
| Equity | 10/15 | €523,667 | €537,419 | +€13,752 | +2.6% |
| Contributions | 10/11 | €6,329 | €6,329 | = | 0.0% |
| Reserves | 13 | €426,949 | €440,701 | +€13,752 | +3.2% |
| Tax-exempt reserves | 132 | €98,750 | €93,008 | -€5,742 | -5.8% |
| Distributable reserves | 133 | €328,199 | €347,693 | +€19,494 | +5.9% |
| Profit (loss) carried forward | 14 | €90,389 | €90,389 | = | 0.0% |
| Provisions and deferred taxes | 16 | €24,533 | €23,098 | -€1,435 | -5.9% |
| Deferred taxes | 168 | €24,533 | €23,098 | -€1,435 | -5.9% |
| Amounts payable | 17/49 | €339,543 | €294,956 | -€44,586 | -13.1% |
| Amounts payable after more than one year | 17 | €265,236 | €241,436 | -€23,800 | -9.0% |
| Financial debts | 170/4 | €265,236 | €241,436 | -€23,800 | -9.0% |
| Amounts payable within one year | 42/48 | €68,060 | €50,520 | -€17,540 | -25.8% |
| Current portion of amounts payable after more than one year | 42 | €27,304 | €23,800 | -€3,504 | -12.8% |
| Trade debts | 44 | €16,969 | €2,910 | -€14,059 | -82.8% |
| Suppliers | 440/4 | €16,969 | €2,910 | -€14,059 | -82.8% |
| Taxes, remuneration and social security | 45 | €13,786 | €13,810 | +€24 | +0.2% |
| Taxes | 450/3 | €13,786 | €13,810 | +€24 | +0.2% |
| Other amounts payable | 47/48 | €10,000 | €10,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €6,247 | €3,000 | -€3,247 | -52.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,467 | €38,387 | -€3,080 | -7.4% |
| Other operating charges | 640/8 | €3,788 | €3,835 | +€47 | +1.2% |
| Non-recurring operating charges | 66A | €13,539 | €0 | -€13,539 | -100% |
| Gross operating margin | 9900 | €89,337 | €66,368 | -€22,968 | -25.7% |
| Operating profit (loss) | 9901 | €30,542 | €24,146 | -€6,396 | -20.9% |
| Financial income | 75/76B | €8,080 | €8,194 | +€113 | +1.4% |
| Recurring financial income | 75 | €8,080 | €8,194 | +€113 | +1.4% |
| Financial charges | 65/66B | €10,135 | €7,670 | -€2,466 | -24.3% |
| Recurring financial charges | 65 | €10,135 | €7,670 | -€2,466 | -24.3% |
| Profit (loss) for the period before taxes | 9903 | €28,487 | €24,670 | -€3,817 | -13.4% |
| Transfer from deferred taxes | 780 | €1,435 | €1,435 | = | 0.0% |
| Income taxes | 67/77 | €17,673 | €12,353 | -€5,319 | -30.1% |
| Profit (loss) for the period | 9904 | €12,250 | €13,752 | +€1,503 | +12.3% |
| Transfer from tax-exempt reserves | 789 | €5,742 | €5,742 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €17,992 | €19,494 | +€1,503 | +8.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.