FONDAN: 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.
FONDAN
Largest movements
- Cash +€59,249
up €59,249 (+126%), from €46,935 to €106,184
mainly Net result for the year (+€79,670) and Other debts (+€60,668)
- Receivables within one year -€20,133
down €20,133 (-71.5%), from €28,144 to €8,011
of which Trade receivables: -€22,886
- Stocks and contracts +€8,745
new in 2025: €8,745
- Tangible fixed assets +€3,726
up €3,726 (+4.2%), from €87,895 to €91,620
of which Furniture and vehicles: +€32,673
- Other debts +€60,668
up €60,668 (+195%), from €31,127 to €91,795
- Debts after one year -€16,153
down €16,153 (-49.9%), from €32,366 to €16,213
- Tax, wage and social debts +€15,283
up €15,283 (+389%), from €3,934 to €19,216
of which Taxes: +€15,473
- Current portion of long-term debt -€7,517
down €7,517 (-54.9%), from €13,693 to €6,176
- Short-term financial debts -€3,368
down €3,368 (-57.2%), from €5,885 to €2,517
- Gross operating margin +€125,749
up €125,749 (+164%), from €76,792 to €202,541
- Staff costs +€56,604
up €56,604 (+248%), from €22,865 to €79,469
- Taxes +€16,686
up €16,686 (+268%), from €6,219 to €22,905
- Depreciation -€3,533
down €3,533 (-20.9%), from €16,916 to €13,382
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 | €164,632 | €216,103 | +€51,471 | +31.3% |
| Fixed assets | 21/28 | €87,895 | €91,620 | +€3,726 | +4.2% |
| Tangible fixed assets | 22/27 | €87,895 | €91,620 | +€3,726 | +4.2% |
| Plant, machinery and equipment | 23 | €4,614 | €5,002 | +€388 | +8.4% |
| Furniture and vehicles | 24 | €115 | €32,789 | +€32,673 | +28,296% |
| Leasing and similar rights | 25 | €47,951 | €23,632 | -€24,319 | -50.7% |
| Other tangible fixed assets | 26 | €35,214 | €30,198 | -€5,017 | -14.2% |
| Current assets | 29/58 | €76,737 | €124,482 | +€47,746 | +62.2% |
| Stocks and contracts in progress | 3 | - | €8,745 | +€8,745 | |
| Contracts in progress | 37 | - | €8,745 | +€8,745 | |
| Amounts receivable within one year | 40/41 | €28,144 | €8,011 | -€20,133 | -71.5% |
| Trade receivables | 40 | €22,934 | €48 | -€22,886 | -99.8% |
| Other amounts receivable | 41 | €5,210 | €7,963 | +€2,753 | +52.8% |
| Cash at bank and in hand | 54/58 | €46,935 | €106,184 | +€59,249 | +126% |
| Deferred charges and accrued income | 490/1 | €1,658 | €1,543 | -€116 | -7.0% |
| Total equity and liabilities | 10/49 | €164,632 | €216,103 | +€51,471 | +31.3% |
| Equity | 10/15 | €68,661 | €68,661 | = | 0.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €63,661 | €63,661 | = | 0.0% |
| Distributable reserves | 133 | €63,661 | €63,661 | = | 0.0% |
| Amounts payable | 17/49 | €95,971 | €147,442 | +€51,471 | +53.6% |
| Amounts payable after more than one year | 17 | €32,366 | €16,213 | -€16,153 | -49.9% |
| Financial debts | 170/4 | €32,366 | €16,213 | -€16,153 | -49.9% |
| Amounts payable within one year | 42/48 | €62,105 | €129,729 | +€67,624 | +109% |
| Current portion of amounts payable after more than one year | 42 | €13,693 | €6,176 | -€7,517 | -54.9% |
| Financial debts | 43 | €5,885 | €2,517 | -€3,368 | -57.2% |
| Credit institutions | 430/8 | €5,885 | €2,517 | -€3,368 | -57.2% |
| Trade debts | 44 | €7,466 | €10,025 | +€2,558 | +34.3% |
| Suppliers | 440/4 | €7,466 | €10,025 | +€2,558 | +34.3% |
| Taxes, remuneration and social security | 45 | €3,934 | €19,216 | +€15,283 | +389% |
| Taxes | 450/3 | €138 | €15,611 | +€15,473 | +11,226% |
| Remuneration and social security | 454/9 | €3,796 | €3,606 | -€190 | -5.0% |
| Other amounts payable | 47/48 | €31,127 | €91,795 | +€60,668 | +195% |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,500 | = | 0.0% |
| Non-recurring operating income | 76A | - | €500 | +€500 | |
| Remuneration, social security and pensions | 62 | €22,865 | €79,469 | +€56,604 | +248% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,916 | €13,382 | -€3,533 | -20.9% |
| Other operating charges | 640/8 | €3,521 | €2,838 | -€683 | -19.4% |
| Non-recurring operating charges | 66A | - | €587 | +€587 | |
| Gross operating margin | 9900 | €76,792 | €202,541 | +€125,749 | +164% |
| Operating profit (loss) | 9901 | €33,490 | €106,265 | +€72,774 | +217% |
| Financial income | 75/76B | €23 | €29 | +€6 | +28.0% |
| Recurring financial income | 75 | €23 | €29 | +€6 | +28.0% |
| Financial charges | 65/66B | €2,498 | €3,719 | +€1,221 | +48.9% |
| Recurring financial charges | 65 | €2,498 | €3,719 | +€1,221 | +48.9% |
| Profit (loss) for the period before taxes | 9903 | €31,016 | €102,575 | +€71,560 | +231% |
| Income taxes | 67/77 | €6,219 | €22,905 | +€16,686 | +268% |
| Profit (loss) for the period | 9904 | €24,797 | €79,670 | +€54,874 | +221% |
| Profit (loss) for the period to be appropriated | 9905 | €24,797 | €79,670 | +€54,874 | +221% |
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 16 October 2026 via checked.be.