FND: 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.
FND
Largest movements
- Tangible fixed assets -€63,498
down €63,498 (-10.5%), from €605,795 to €542,297
of which Leasing and similar rights: -€35,738
- Receivables within one year -€53,148
down €53,148 (-55.4%), from €95,916 to €42,768
of which Trade receivables: -€58,830
- Debts after one year -€108,994
down €108,994 (-21.0%), from €519,173 to €410,179
- Other debts -€63,642
down €63,642 (-78.3%), from €81,269 to €17,627
- Profit (loss) carried forward +€26,551
up €26,551 (+56.8%), from -€46,762 to -€20,212
- Trade debts +€13,918
up €13,918 (+46.1%), from €30,222 to €44,140
- Tax, wage and social debts +€12,045
up €12,045 (+169%), from €7,119 to €19,164
of which Taxes: +€12,045
- Gross operating margin +€94,859
up €94,859 (+121%), from €78,412 to €173,271
- Other operating charges +€40,845
up €40,845 (+388%), from €10,531 to €51,377
- Taxes +€18,925
up €18,925, from €0 to €18,925
- Write-downs +€11,710
new in 2024: €11,710
- Financial charges -€5,409
down €5,409 (-18.1%), from €29,876 to €24,468
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €963,572 | €853,356 | -€110,216 | -11.4% |
| Fixed assets | 21/28 | €856,082 | €794,045 | -€62,038 | -7.2% |
| Tangible fixed assets | 22/27 | €605,795 | €542,297 | -€63,498 | -10.5% |
| Land and buildings | 22 | €319,553 | €292,107 | -€27,445 | -8.6% |
| Plant, machinery and equipment | 23 | €105 | €0 | -€105 | -100% |
| Furniture and vehicles | 24 | €231 | €22 | -€209 | -90.6% |
| Leasing and similar rights | 25 | €285,907 | €250,168 | -€35,738 | -12.5% |
| Financial fixed assets | 28 | €250,287 | €251,747 | +€1,460 | +0.6% |
| Current assets | 29/58 | €107,490 | €59,312 | -€48,178 | -44.8% |
| Stocks and contracts in progress | 3 | €9,450 | €9,450 | = | 0.0% |
| Stocks | 30/36 | €9,450 | €9,450 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €95,916 | €42,768 | -€53,148 | -55.4% |
| Trade receivables | 40 | €94,035 | €35,204 | -€58,830 | -62.6% |
| Other amounts receivable | 41 | €1,881 | €7,564 | +€5,683 | +302% |
| Cash at bank and in hand | 54/58 | €2,124 | €6,244 | +€4,119 | +194% |
| Deferred charges and accrued income | 490/1 | €0 | €850 | +€850 | |
| Total equity and liabilities | 10/49 | €963,572 | €853,356 | -€110,216 | -11.4% |
| Equity | 10/15 | €215,636 | €240,694 | +€25,057 | +11.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €231,859 | €231,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €221,859 | €221,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€46,762 | -€20,212 | +€26,551 | +56.8% |
| Investment grants | 15 | €11,948 | €10,454 | -€1,493 | -12.5% |
| Amounts payable | 17/49 | €747,936 | €612,662 | -€135,273 | -18.1% |
| Amounts payable after more than one year | 17 | €519,173 | €410,179 | -€108,994 | -21.0% |
| Financial debts | 170/4 | €519,173 | €410,179 | -€108,994 | -21.0% |
| Amounts payable within one year | 42/48 | €228,763 | €199,734 | -€29,029 | -12.7% |
| Current portion of amounts payable after more than one year | 42 | €110,147 | €118,799 | +€8,652 | +7.9% |
| Financial debts | 43 | €7 | €4 | -€3 | -45.0% |
| Credit institutions | 430/8 | €7 | €4 | -€3 | -45.0% |
| Trade debts | 44 | €30,222 | €44,140 | +€13,918 | +46.1% |
| Suppliers | 440/4 | €30,222 | €44,140 | +€13,918 | +46.1% |
| Taxes, remuneration and social security | 45 | €7,119 | €19,164 | +€12,045 | +169% |
| Taxes | 450/3 | €7,119 | €19,164 | +€12,045 | +169% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €81,269 | €17,627 | -€63,642 | -78.3% |
| Accrued charges and deferred income | 492/3 | - | €2,750 | +€2,750 | |
| Non-recurring operating income | 76A | - | €61,752 | +€61,752 | |
| Remuneration, social security and pensions | 62 | €4,984 | €285 | -€4,699 | -94.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,927 | €41,498 | -€430 | -1.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €11,710 | +€11,710 | |
| Other operating charges | 640/8 | €10,531 | €51,377 | +€40,845 | +388% |
| Gross operating margin | 9900 | €78,412 | €173,271 | +€94,859 | +121% |
| Operating profit (loss) | 9901 | €20,969 | €68,402 | +€47,432 | +226% |
| Financial income | 75/76B | €1,493 | €1,542 | +€48 | +3.2% |
| Recurring financial income | 75 | €1,493 | €1,542 | +€48 | +3.2% |
| Financial charges | 65/66B | €29,876 | €24,468 | -€5,409 | -18.1% |
| Recurring financial charges | 65 | €29,876 | €24,468 | -€5,409 | -18.1% |
| Profit (loss) for the period before taxes | 9903 | -€7,413 | €45,476 | +€52,889 | |
| Income taxes | 67/77 | €0 | €18,925 | +€18,925 | |
| Profit (loss) for the period | 9904 | -€7,413 | €26,551 | +€33,964 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,413 | €26,551 | +€33,964 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.