FORTEBRACCIO-PIZZATO: what changed
FORTEBRACCIO-PIZZATO
Largest movements
- Cash +€82,431
up €82,431 (+41.4%), from €199,155 to €281,585
mainly Current investments (+€65,000) and Trade debts (+€30,443)
- Current investments -€65,000
down €65,000 (-100%), from €65,000 to €0
- Receivables within one year +€12,415
up €12,415 (+319%), from €3,891 to €16,306
of which Other amounts receivable: +€12,756
- Trade debts +€30,443
up €30,443 (+1,145%), from €2,659 to €33,102
- Reserves +€9,000
up €9,000 (+11.3%), from €80,000 to €89,000
- Tax, wage and social debts -€6,936
down €6,936 (-37.1%), from €18,699 to €11,763
of which Taxes: -€11,136
- Gross operating margin -€50,786
down €50,786 (-33.7%), from €150,737 to €99,952
- Taxes -€17,844
down €17,844 (-73.2%), from €24,367 to €6,523
- Staff costs +€17,237
up €17,237 (+26.4%), from €65,293 to €82,529
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €327,155 | €358,565 | +€31,411 | +9.6% |
| Fixed assets | 21/28 | €2,021 | €1,642 | -€380 | -18.8% |
| Tangible fixed assets | 22/27 | €2,021 | €1,642 | -€380 | -18.8% |
| Plant, machinery and equipment | 23 | €2,021 | €1,642 | -€380 | -18.8% |
| Current assets | 29/58 | €325,134 | €356,924 | +€31,790 | +9.8% |
| Stocks and contracts in progress | 3 | €57,087 | €59,032 | +€1,945 | +3.4% |
| Stocks | 30/36 | €57,087 | €59,032 | +€1,945 | +3.4% |
| Amounts receivable within one year | 40/41 | €3,891 | €16,306 | +€12,415 | +319% |
| Trade receivables | 40 | €1,212 | €870 | -€342 | -28.2% |
| Other amounts receivable | 41 | €2,680 | €15,436 | +€12,756 | +476% |
| Current investments | 50/53 | €65,000 | €0 | -€65,000 | -100% |
| Cash at bank and in hand | 54/58 | €199,155 | €281,585 | +€82,431 | +41.4% |
| Total equity and liabilities | 10/49 | €327,155 | €358,565 | +€31,411 | +9.6% |
| Equity | 10/15 | €273,193 | €283,290 | +€10,097 | +3.7% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €80,000 | €89,000 | +€9,000 | +11.3% |
| Distributable reserves | 133 | €80,000 | €89,000 | +€9,000 | +11.3% |
| Profit (loss) carried forward | 14 | €163,193 | €164,290 | +€1,097 | +0.7% |
| Amounts payable | 17/49 | €53,962 | €75,275 | +€21,313 | +39.5% |
| Amounts payable within one year | 42/48 | €48,220 | €69,534 | +€21,313 | +44.2% |
| Trade debts | 44 | €2,659 | €33,102 | +€30,443 | +1,145% |
| Suppliers | 440/4 | €2,659 | €33,102 | +€30,443 | +1,145% |
| Taxes, remuneration and social security | 45 | €18,699 | €11,763 | -€6,936 | -37.1% |
| Taxes | 450/3 | €11,159 | €23 | -€11,136 | -99.8% |
| Remuneration and social security | 454/9 | €7,539 | €11,740 | +€4,201 | +55.7% |
| Other amounts payable | 47/48 | €26,863 | €24,668 | -€2,194 | -8.2% |
| Accrued charges and deferred income | 492/3 | €5,741 | €5,741 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €65,293 | €82,529 | +€17,237 | +26.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €277 | €380 | +€103 | +37.3% |
| Other operating charges | 640/8 | €944 | €1,079 | +€134 | +14.2% |
| Non-recurring operating charges | 66A | - | €25 | +€25 | |
| Gross operating margin | 9900 | €150,737 | €99,952 | -€50,786 | -33.7% |
| Operating profit (loss) | 9901 | €84,224 | €15,939 | -€68,285 | -81.1% |
| Financial income | 75/76B | €537 | €1,289 | +€753 | +140% |
| Recurring financial income | 75 | €537 | €1,289 | +€753 | +140% |
| Financial charges | 65/66B | €546 | €608 | +€62 | +11.4% |
| Recurring financial charges | 65 | €546 | €608 | +€62 | +11.4% |
| Profit (loss) for the period before taxes | 9903 | €84,215 | €16,620 | -€67,594 | -80.3% |
| Income taxes | 67/77 | €24,367 | €6,523 | -€17,844 | -73.2% |
| Profit (loss) for the period | 9904 | €59,848 | €10,097 | -€49,751 | -83.1% |
| Profit (loss) for the period to be appropriated | 9905 | €59,848 | €10,097 | -€49,751 | -83.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.