FONCE: 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.
FONCE
Largest movements
- Cash -€223,820
down €223,820 (-42.7%), from €523,788 to €299,967
mainly Current investments (-€204,343) and Trade debts (-€195,342)
- Receivables within one year -€209,400
down €209,400 (-30.8%), from €679,256 to €469,856
of which Other amounts receivable: -€207,027
- Current investments +€204,343
new in 2026: €204,343
- Stocks and contracts +€104,867
up €104,867 (+34.1%), from €307,275 to €412,141
- Tangible fixed assets -€34,055
down €34,055 (-30.0%), from €113,555 to €79,500
of which Furniture and vehicles: -€27,586
- Trade debts -€195,342
down €195,342 (-68.6%), from €284,907 to €89,564
- Reserves +€49,482
up €49,482 (+58.5%), from €84,580 to €134,062
of which Distributable reserves: +€49,482
- Other debts -€19,277
down €19,277 (-35.3%), from €54,659 to €35,382
- Gross operating margin +€67,713
up €67,713 (+26.1%), from €259,182 to €326,895
- Staff costs +€14,032
up €14,032 (+5.6%), from €248,725 to €262,757
- Financial income +€7,293
up €7,293 (+21.9%), from €33,288 to €40,581
- Taxes +€4,948
new in 2026: €4,948
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,672,985 | €1,508,457 | -€164,528 | -9.8% |
| Fixed assets | 21/28 | €140,016 | €107,127 | -€32,889 | -23.5% |
| Intangible fixed assets | 21 | - | €1,638 | +€1,638 | |
| Tangible fixed assets | 22/27 | €113,555 | €79,500 | -€34,055 | -30.0% |
| Land and buildings | 22 | €14,435 | €12,972 | -€1,463 | -10.1% |
| Plant, machinery and equipment | 23 | €11,722 | €6,716 | -€5,006 | -42.7% |
| Furniture and vehicles | 24 | €87,398 | €59,812 | -€27,586 | -31.6% |
| Financial fixed assets | 28 | €26,461 | €25,989 | -€472 | -1.8% |
| Current assets | 29/58 | €1,532,969 | €1,401,330 | -€131,639 | -8.6% |
| Stocks and contracts in progress | 3 | €307,275 | €412,141 | +€104,867 | +34.1% |
| Stocks | 30/36 | €307,275 | €412,141 | +€104,867 | +34.1% |
| Amounts receivable within one year | 40/41 | €679,256 | €469,856 | -€209,400 | -30.8% |
| Trade receivables | 40 | €60,761 | €58,388 | -€2,373 | -3.9% |
| Other amounts receivable | 41 | €618,496 | €411,468 | -€207,027 | -33.5% |
| Current investments | 50/53 | - | €204,343 | +€204,343 | |
| Cash at bank and in hand | 54/58 | €523,788 | €299,967 | -€223,820 | -42.7% |
| Deferred charges and accrued income | 490/1 | €22,650 | €15,022 | -€7,629 | -33.7% |
| Total equity and liabilities | 10/49 | €1,672,985 | €1,508,457 | -€164,528 | -9.8% |
| Equity | 10/15 | €1,147,666 | €1,197,148 | +€49,482 | +4.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €84,580 | €134,062 | +€49,482 | +58.5% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €76,525 | €126,006 | +€49,482 | +64.7% |
| Profit (loss) carried forward | 14 | €1,001,086 | €1,001,086 | = | 0.0% |
| Amounts payable | 17/49 | €525,319 | €311,309 | -€214,010 | -40.7% |
| Amounts payable after more than one year | 17 | €127,321 | €127,321 | = | 0.0% |
| Financial debts | 170/4 | €127,321 | €127,321 | = | 0.0% |
| Amounts payable within one year | 42/48 | €388,086 | €175,313 | -€212,773 | -54.8% |
| Trade debts | 44 | €284,907 | €89,564 | -€195,342 | -68.6% |
| Suppliers | 440/4 | €284,907 | €89,564 | -€195,342 | -68.6% |
| Advances received on contracts in progress | 46 | €5,100 | - | -€5,100 | |
| Taxes, remuneration and social security | 45 | €43,420 | €50,367 | +€6,947 | +16.0% |
| Taxes | 450/3 | €13,705 | €22,812 | +€9,107 | +66.5% |
| Remuneration and social security | 454/9 | €29,715 | €27,555 | -€2,160 | -7.3% |
| Other amounts payable | 47/48 | €54,659 | €35,382 | -€19,277 | -35.3% |
| Accrued charges and deferred income | 492/3 | €9,912 | €8,675 | -€1,237 | -12.5% |
| Remuneration, social security and pensions | 62 | €248,725 | €262,757 | +€14,032 | +5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,611 | €34,367 | +€2,755 | +8.7% |
| Other operating charges | 640/8 | €5,075 | €4,645 | -€430 | -8.5% |
| Non-recurring operating charges | 66A | €8,368 | - | -€8,368 | |
| Gross operating margin | 9900 | €259,182 | €326,895 | +€67,713 | +26.1% |
| Operating profit (loss) | 9901 | -€34,597 | €25,127 | +€59,724 | |
| Financial income | 75/76B | €33,288 | €40,581 | +€7,293 | +21.9% |
| Recurring financial income | 75 | €33,288 | €40,581 | +€7,293 | +21.9% |
| Financial charges | 65/66B | €14,017 | €11,278 | -€2,739 | -19.5% |
| Recurring financial charges | 65 | €14,017 | €11,278 | -€2,739 | -19.5% |
| Profit (loss) for the period before taxes | 9903 | -€15,326 | €54,430 | +€69,756 | |
| Income taxes | 67/77 | - | €4,948 | +€4,948 | |
| Profit (loss) for the period | 9904 | -€15,326 | €49,482 | +€64,808 | |
| Profit (loss) for the period to be appropriated | 9905 | -€15,326 | €49,482 | +€64,808 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.