FONDOR: 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.
FONDOR
Largest movements
- Cash -€63,595
down €63,595 (-89.7%), from €70,866 to €7,271
mainly Trade debts (-€52,900) and Debts after one year (-€51,505)
- Stocks and contracts -€43,080
down €43,080 (-10.3%), from €417,613 to €374,533
- Financial fixed assets +€39,502
up €39,502 (+5.0%), from €789,337 to €828,839
- Tangible fixed assets -€25,953
down €25,953 (-12.2%), from €212,802 to €186,849
of which Plant, machinery and equipment: -€23,418
- Trade debts -€52,900
down €52,900 (-61.3%), from €86,316 to €33,416
- Debts after one year -€51,505
down €51,505 (-10.5%), from €491,763 to €440,258
of which Financial debts: -€51,505
- Gross operating margin -€32,126
down €32,126 (-19.6%), from €163,654 to €131,528
- Staff costs -€5,231
down €5,231 (-9.1%), from €57,702 to €52,471
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 | €2,136,302 | €2,022,787 | -€113,515 | -5.3% |
| Fixed assets | 21/28 | €1,012,437 | €1,018,905 | +€6,468 | +0.6% |
| Intangible fixed assets | 21 | €10,298 | €3,217 | -€7,081 | -68.8% |
| Tangible fixed assets | 22/27 | €212,802 | €186,849 | -€25,953 | -12.2% |
| Land and buildings | 22 | €2,180 | €2,025 | -€155 | -7.1% |
| Plant, machinery and equipment | 23 | €200,272 | €176,854 | -€23,418 | -11.7% |
| Furniture and vehicles | 24 | €10,350 | €7,970 | -€2,380 | -23.0% |
| Financial fixed assets | 28 | €789,337 | €828,839 | +€39,502 | +5.0% |
| Current assets | 29/58 | €1,123,865 | €1,003,882 | -€119,983 | -10.7% |
| Stocks and contracts in progress | 3 | €417,613 | €374,533 | -€43,080 | -10.3% |
| Stocks | 30/36 | €417,613 | €374,533 | -€43,080 | -10.3% |
| Amounts receivable within one year | 40/41 | €611,139 | €597,724 | -€13,415 | -2.2% |
| Trade receivables | 40 | €539,072 | €484,487 | -€54,585 | -10.1% |
| Other amounts receivable | 41 | €72,067 | €113,237 | +€41,170 | +57.1% |
| Cash at bank and in hand | 54/58 | €70,866 | €7,271 | -€63,595 | -89.7% |
| Deferred charges and accrued income | 490/1 | €24,247 | €24,354 | +€107 | +0.4% |
| Total equity and liabilities | 10/49 | €2,136,302 | €2,022,787 | -€113,515 | -5.3% |
| Equity | 10/15 | €961,721 | €973,523 | +€11,802 | +1.2% |
| Contributions | 10/11 | €700,000 | €700,000 | = | 0.0% |
| Capital | 10 | €700,000 | €700,000 | = | 0.0% |
| Issued capital | 100 | €700,000 | €700,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €261,721 | €273,523 | +€11,802 | +4.5% |
| Amounts payable | 17/49 | €1,174,581 | €1,049,264 | -€125,317 | -10.7% |
| Amounts payable after more than one year | 17 | €491,763 | €440,258 | -€51,505 | -10.5% |
| Financial debts | 170/4 | €126,263 | €74,758 | -€51,505 | -40.8% |
| Other amounts payable | 178/9 | €365,500 | €365,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €652,838 | €580,229 | -€72,609 | -11.1% |
| Current portion of amounts payable after more than one year | 42 | €68,272 | €53,912 | -€14,360 | -21.0% |
| Financial debts | 43 | €300,000 | €300,000 | = | 0.0% |
| Credit institutions | 430/8 | €300,000 | €300,000 | = | 0.0% |
| Trade debts | 44 | €86,316 | €33,416 | -€52,900 | -61.3% |
| Suppliers | 440/4 | €86,316 | €33,416 | -€52,900 | -61.3% |
| Taxes, remuneration and social security | 45 | €48,500 | €56,551 | +€8,051 | +16.6% |
| Taxes | 450/3 | €30,470 | €44,377 | +€13,907 | +45.6% |
| Remuneration and social security | 454/9 | €18,030 | €12,174 | -€5,856 | -32.5% |
| Other amounts payable | 47/48 | €149,750 | €136,350 | -€13,400 | -8.9% |
| Accrued charges and deferred income | 492/3 | €29,980 | €28,777 | -€1,203 | -4.0% |
| Remuneration, social security and pensions | 62 | €57,702 | €52,471 | -€5,231 | -9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,288 | €38,550 | +€262 | +0.7% |
| Gross operating margin | 9900 | €163,654 | €131,528 | -€32,126 | -19.6% |
| Operating profit (loss) | 9901 | €67,664 | €40,507 | -€27,157 | -40.1% |
| Financial charges | 65/66B | €26,800 | €28,062 | +€1,262 | +4.7% |
| Recurring financial charges | 65 | €26,800 | €28,062 | +€1,262 | +4.7% |
| Profit (loss) for the period before taxes | 9903 | €40,864 | €12,445 | -€28,419 | -69.5% |
| Income taxes | 67/77 | €450 | €643 | +€193 | +42.9% |
| Profit (loss) for the period | 9904 | €40,414 | €11,802 | -€28,612 | -70.8% |
| Profit (loss) for the period to be appropriated | 9905 | €40,414 | €11,802 | -€28,612 | -70.8% |
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 5 October 2026 via checked.be.