FND MANAGEMENT: 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.
FND MANAGEMENT
Largest movements
- Tangible fixed assets -€20,927
down €20,927 (-2.6%), from €805,514 to €784,587
of which Land and buildings: -€16,918
- Profit (loss) carried forward +€69,201
up €69,201, from -€28,286 to €40,914
- Other debts -€59,366
down €59,366 (-70.7%), from €84,006 to €24,641
- Debts after one year -€29,861
down €29,861 (-4.1%), from €723,744 to €693,883
of which Financial debts: -€29,871
- Financial income +€49,649
up €49,649 (+195.9%), from €25,351 to €75,000
- Gross operating margin +€32,043
up €32,043 (+114.0%), from €28,108 to €60,151
- Turnover -€21,309
down €21,309 (-47.8%), from €44,591 to €23,282
- Financial charges -€16,343
down €16,343 (-37.2%), from €43,955 to €27,612
- Purchases and services -€3,092
down €3,092 (-14.7%), from €21,079 to €17,987
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 | €879,614 | €860,209 | -€19,405 | -2.2% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €865,514 | €844,587 | -€20,927 | -2.4% |
| Tangible fixed assets | 22/27 | €805,514 | €784,587 | -€20,927 | -2.6% |
| Land and buildings | 22 | €548,889 | €531,971 | -€16,918 | -3.1% |
| Other tangible fixed assets | 26 | €256,625 | €252,616 | -€4,009 | -1.6% |
| Financial fixed assets | 28 | €60,000 | €60,000 | = | 0.0% |
| Current assets | 29/58 | €14,100 | €15,622 | +€1,522 | +10.8% |
| Amounts receivable within one year | 40/41 | €529 | €0 | -€529 | -100.0% |
| Trade receivables | 40 | €43 | €0 | -€43 | -100.0% |
| Other amounts receivable | 41 | €486 | €0 | -€486 | -100.0% |
| Cash at bank and in hand | 54/58 | €10,689 | €12,854 | +€2,166 | +20.3% |
| Deferred charges and accrued income | 490/1 | €2,883 | €2,767 | -€115 | -4.0% |
| Total equity and liabilities | 10/49 | €879,614 | €860,209 | -€19,405 | -2.2% |
| Equity | 10/15 | €31,714 | €100,914 | +€69,201 | +218.2% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Outside capital | 11 | - | €60,000 | +€60,000 | |
| Share premium | 1100/10 | - | €60,000 | +€60,000 | |
| Profit (loss) carried forward | 14 | -€28,286 | €40,914 | +€69,201 | |
| Amounts payable | 17/49 | €847,900 | €759,294 | -€88,606 | -10.5% |
| Amounts payable after more than one year | 17 | €723,744 | €693,883 | -€29,861 | -4.1% |
| Financial debts | 170/4 | €719,024 | €689,153 | -€29,871 | -4.2% |
| Other amounts payable | 178/9 | €4,720 | €4,730 | +€10 | +0.2% |
| Amounts payable within one year | 42/48 | €123,456 | €65,411 | -€58,045 | -47.0% |
| Current portion of amounts payable after more than one year | 42 | €35,420 | €36,434 | +€1,015 | +2.9% |
| Trade debts | 44 | €2,728 | €2,728 | +€0 | 0.0% |
| Suppliers | 440/4 | €2,728 | €2,728 | +€0 | 0.0% |
| Taxes, remuneration and social security | 45 | €1,301 | €1,608 | +€306 | +23.5% |
| Taxes | 450/3 | €1,301 | €1,608 | +€306 | +23.5% |
| Other amounts payable | 47/48 | €84,006 | €24,641 | -€59,366 | -70.7% |
| Accrued charges and deferred income | 492/3 | €700 | €0 | -€700 | -100.0% |
| Turnover | 70 | €44,591 | €23,282 | -€21,309 | -47.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €21,079 | €17,987 | -€3,092 | -14.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,387 | €31,344 | +€956 | +3.1% |
| Other operating charges | 640/8 | €5,506 | €6,815 | +€1,309 | +23.8% |
| Gross operating margin | 9900 | €28,108 | €60,151 | +€32,043 | +114.0% |
| Operating profit (loss) | 9901 | -€7,785 | €21,993 | +€29,778 | |
| Financial income | 75/76B | €25,351 | €75,000 | +€49,649 | +195.9% |
| Recurring financial income | 75 | €25,351 | €75,000 | +€49,649 | +195.9% |
| Financial charges | 65/66B | €43,955 | €27,612 | -€16,343 | -37.2% |
| Recurring financial charges | 65 | €43,955 | €27,612 | -€16,343 | -37.2% |
| Profit (loss) for the period before taxes | 9903 | -€26,390 | €69,381 | +€95,771 | |
| Income taxes | 67/77 | €183 | €181 | -€3 | -1.5% |
| Profit (loss) for the period | 9904 | -€26,573 | €69,201 | +€95,774 | |
| Profit (loss) for the period to be appropriated | 9905 | -€26,573 | €69,201 | +€95,774 |
Source: filed annual accounts (NBB), fiscal years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.