FORMULE S: 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.
FORMULE S
Largest movements
- Cash +€1,837
up €1,837 (+77.8%), from €2,360 to €4,196
mainly Other debts (+€6,860) and Trade debts (+€1,112)
- Tangible fixed assets -€1,021
down €1,021 (-6.7%), from €15,148 to €14,127
of which Plant, machinery and equipment: -€802
- Deferred charges and accrued income +€747
up €747 (+43.6%), from €1,715 to €2,463
- Receivables within one year +€639
up €639 (+35.8%), from €1,787 to €2,426
of which Other amounts receivable: +€563
- Other debts +€6,860
up €6,860 (+3.5%), from €198,091 to €204,950
- Profit (loss) carried forward -€5,771
down €5,771 (-2.4%), from -€239,344 to -€245,115
- Trade debts +€1,112
up €1,112 (+48.6%), from €2,290 to €3,401
- Gross operating margin -€2,702
down €2,702, from €1,398 to -€1,304
- Depreciation -€347
down €347 (-25.4%), from €1,367 to €1,021
- Financial charges +€134
up €134 (+94.4%), from €142 to €275
- Other operating charges +€61
up €61 (+2.0%), from €3,110 to €3,171
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.
Cash bridge derived
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 | €23,271 | €25,355 | +€2,084 | +9.0% |
| Fixed assets | 21/28 | €17,260 | €16,239 | -€1,021 | -5.9% |
| Tangible fixed assets | 22/27 | €15,148 | €14,127 | -€1,021 | -6.7% |
| Land and buildings | 22 | €13,241 | €13,022 | -€219 | -1.7% |
| Plant, machinery and equipment | 23 | €1,906 | €1,105 | -€802 | -42.0% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €2,112 | €2,112 | = | 0.0% |
| Current assets | 29/58 | €6,012 | €9,116 | +€3,104 | +51.6% |
| Stocks and contracts in progress | 3 | €150 | €31 | -€119 | -79.2% |
| Stocks | 30/36 | €150 | €31 | -€119 | -79.2% |
| Amounts receivable within one year | 40/41 | €1,787 | €2,426 | +€639 | +35.8% |
| Trade receivables | 40 | €1,345 | €1,421 | +€76 | +5.7% |
| Other amounts receivable | 41 | €441 | €1,004 | +€563 | +127.5% |
| Cash at bank and in hand | 54/58 | €2,360 | €4,196 | +€1,837 | +77.8% |
| Deferred charges and accrued income | 490/1 | €1,715 | €2,463 | +€747 | +43.6% |
| Total equity and liabilities | 10/49 | €23,271 | €25,355 | +€2,084 | +9.0% |
| Equity | 10/15 | -€177,332 | -€183,103 | -€5,771 | -3.3% |
| Contributions | 10/11 | €61,975 | €61,975 | = | 0.0% |
| Capital | 10 | €61,975 | €61,975 | = | 0.0% |
| Issued capital | 100 | €61,975 | €61,975 | = | 0.0% |
| Reserves | 13 | €37 | €37 | = | 0.0% |
| Non-distributable reserves | 130/1 | €37 | €37 | = | 0.0% |
| Legal reserve | 130 | €37 | €37 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€239,344 | -€245,115 | -€5,771 | -2.4% |
| Amounts payable | 17/49 | €200,603 | €208,458 | +€7,855 | +3.9% |
| Amounts payable within one year | 42/48 | €200,386 | €208,357 | +€7,971 | +4.0% |
| Trade debts | 44 | €2,290 | €3,401 | +€1,112 | +48.6% |
| Suppliers | 440/4 | €2,290 | €3,401 | +€1,112 | +48.6% |
| Taxes, remuneration and social security | 45 | €5 | €5 | = | 0.0% |
| Taxes | 450/3 | €5 | €5 | = | 0.0% |
| Other amounts payable | 47/48 | €198,091 | €204,950 | +€6,860 | +3.5% |
| Accrued charges and deferred income | 492/3 | €217 | €101 | -€116 | -53.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,367 | €1,021 | -€347 | -25.4% |
| Other operating charges | 640/8 | €3,110 | €3,171 | +€61 | +2.0% |
| Gross operating margin | 9900 | €1,398 | -€1,304 | -€2,702 | |
| Operating profit (loss) | 9901 | -€3,079 | -€5,496 | -€2,417 | -78.5% |
| Financial income | 75/76B | €3 | €0 | -€3 | -99.7% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -99.7% |
| Financial charges | 65/66B | €142 | €275 | +€134 | +94.4% |
| Recurring financial charges | 65 | €142 | €275 | +€134 | +94.4% |
| Profit (loss) for the period before taxes | 9903 | -€3,218 | -€5,771 | -€2,554 | -79.4% |
| Profit (loss) for the period | 9904 | -€3,218 | -€5,771 | -€2,554 | -79.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,218 | -€5,771 | -€2,554 | -79.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.