FLEETMASTER: 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.
FLEETMASTER
Largest movements
- Cash +€80,876
up €80,876 (+2.2%), from €3.8m to €3.8m
mainly Tax, wage and social debts (+€88,357) and Trade debts (+€84,540)
- Accrued charges and deferred income -€163,219
down €163,219 (-35.6%), from €458,464 to €295,244
- Tax, wage and social debts +€88,357
up €88,357 (+39.1%), from €226,095 to €314,452
- Trade debts +€84,540
up €84,540 (+188.1%), from €44,949 to €129,489
- Profit (loss) carried forward +€53,443
up €53,443 (+17.2%), from €310,534 to €363,978
- Gross operating margin +€347,866
up €347,866 (+16.6%), from €2.1m to €2.4m
- Staff costs +€343,291
up €343,291 (+18.8%), from €1.8m to €2.2m
- Financial charges +€82,805
up €82,805 (+140.1%), from €59,123 to €141,928
- Financial income -€59,381
down €59,381 (-64.4%), from €92,165 to €32,784
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 | €4,168,271 | €4,229,163 | +€60,892 | +1.5% |
| Formation expenses | 20 | €3,338 | €2,262 | -€1,076 | -32.2% |
| Fixed assets | 21/28 | €68,929 | €49,513 | -€19,416 | -28.2% |
| Intangible fixed assets | 21 | €540 | €70 | -€469 | -87.0% |
| Tangible fixed assets | 22/27 | €52,807 | €33,861 | -€18,946 | -35.9% |
| Furniture and vehicles | 24 | €52,807 | €33,861 | -€18,946 | -35.9% |
| Financial fixed assets | 28 | €15,582 | €15,582 | = | 0.0% |
| Current assets | 29/58 | €4,096,004 | €4,177,387 | +€81,383 | +2.0% |
| Amounts receivable within one year | 40/41 | €312,977 | €279,093 | -€33,885 | -10.8% |
| Trade receivables | 40 | €273,121 | €198,261 | -€74,861 | -27.4% |
| Other amounts receivable | 41 | €39,856 | €80,832 | +€40,976 | +102.8% |
| Cash at bank and in hand | 54/58 | €3,756,647 | €3,837,522 | +€80,876 | +2.2% |
| Deferred charges and accrued income | 490/1 | €26,380 | €60,772 | +€34,392 | +130.4% |
| Total equity and liabilities | 10/49 | €4,168,271 | €4,229,163 | +€60,892 | +1.5% |
| Equity | 10/15 | €3,436,435 | €3,489,878 | +€53,443 | +1.6% |
| Contributions | 10/11 | €3,125,900 | €3,125,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | €310,534 | €363,978 | +€53,443 | +17.2% |
| Amounts payable | 17/49 | €731,836 | €739,285 | +€7,448 | +1.0% |
| Amounts payable within one year | 42/48 | €273,373 | €444,040 | +€170,668 | +62.4% |
| Trade debts | 44 | €44,949 | €129,489 | +€84,540 | +188.1% |
| Suppliers | 440/4 | €44,949 | €129,489 | +€84,540 | +188.1% |
| Taxes, remuneration and social security | 45 | €226,095 | €314,452 | +€88,357 | +39.1% |
| Remuneration and social security | 454/9 | €226,095 | €314,452 | +€88,357 | +39.1% |
| Other amounts payable | 47/48 | €2,329 | €100 | -€2,229 | -95.7% |
| Accrued charges and deferred income | 492/3 | €458,464 | €295,244 | -€163,219 | -35.6% |
| Non-recurring operating income | 76A | €876 | €0 | -€876 | -100.0% |
| Remuneration, social security and pensions | 62 | €1,821,529 | €2,164,820 | +€343,291 | +18.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,811 | €27,713 | +€3,902 | +16.4% |
| Other operating charges | 640/8 | €3,355 | €2,412 | -€943 | -28.1% |
| Non-recurring operating charges | 66A | €3,093 | €0 | -€3,093 | -100.0% |
| Gross operating margin | 9900 | €2,099,655 | €2,447,521 | +€347,866 | +16.6% |
| Operating profit (loss) | 9901 | €247,866 | €252,575 | +€4,710 | +1.9% |
| Financial income | 75/76B | €92,165 | €32,784 | -€59,381 | -64.4% |
| Recurring financial income | 75 | €92,165 | €32,784 | -€59,381 | -64.4% |
| Financial charges | 65/66B | €59,123 | €141,928 | +€82,805 | +140.1% |
| Recurring financial charges | 65 | €59,123 | €141,928 | +€82,805 | +140.1% |
| Profit (loss) for the period before taxes | 9903 | €280,908 | €143,432 | -€137,476 | -48.9% |
| Income taxes | 67/77 | €96,850 | €89,989 | -€6,861 | -7.1% |
| Profit (loss) for the period | 9904 | €184,058 | €53,443 | -€130,615 | -71.0% |
| Profit (loss) for the period to be appropriated | 9905 | €184,058 | €53,443 | -€130,615 | -71.0% |
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 7 October 2026 via checked.be.