FORTECH STUDIE: 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.
FORTECH STUDIE
Largest movements
- Receivables within one year -€180,636
down €180,636 (-67.3%), from €268,238 to €87,602
of which Trade receivables: -€206,894
- Financial fixed assets +€139,848
up €139,848 (+2545.0%), from €5,495 to €145,343
- Tangible fixed assets +€131,043
up €131,043 (+22.0%), from €594,510 to €725,553
of which Assets under construction and advance payments: +€140,000
- Cash +€49,784
up €49,784 (+408.8%), from €12,179 to €61,963
mainly Receivables within one year (+€180,636) and Debts after one year (+€126,058)
- Debts after one year +€126,058
up €126,058 (+40.8%), from €308,942 to €435,000
- Other debts +€50,656
up €50,656 (+658.1%), from €7,697 to €58,353
- Trade debts -€25,286
down €25,286 (-57.3%), from €44,091 to €18,805
- Staff costs +€43,466
up €43,466 (+10.6%), from €409,449 to €452,915
- Depreciation -€25,847
down €25,847 (-59.5%), from €43,468 to €17,621
- Gross operating margin -€22,114
down €22,114 (-4.4%), from €498,521 to €476,406
- Financial income -€11,281
down €11,281 (-99.9%), from €11,294 to €13
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 | €900,670 | €1,040,461 | +€139,791 | +15.5% |
| Fixed assets | 21/28 | €600,005 | €870,896 | +€270,891 | +45.1% |
| Tangible fixed assets | 22/27 | €594,510 | €725,553 | +€131,043 | +22.0% |
| Land and buildings | 22 | €247,256 | €233,197 | -€14,059 | -5.7% |
| Plant, machinery and equipment | 23 | €2,802 | €2,962 | +€161 | +5.7% |
| Furniture and vehicles | 24 | €23,367 | €28,308 | +€4,942 | +21.1% |
| Assets under construction and advance payments | 27 | €321,086 | €461,086 | +€140,000 | +43.6% |
| Financial fixed assets | 28 | €5,495 | €145,343 | +€139,848 | +2545.0% |
| Current assets | 29/58 | €300,665 | €169,565 | -€131,100 | -43.6% |
| Amounts receivable after more than one year | 29 | €20,000 | €20,000 | = | 0.0% |
| Other amounts receivable | 291 | €20,000 | €20,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €268,238 | €87,602 | -€180,636 | -67.3% |
| Trade receivables | 40 | €267,897 | €61,004 | -€206,894 | -77.2% |
| Other amounts receivable | 41 | €341 | €26,598 | +€26,258 | +7703.1% |
| Current investments | 50/53 | €248 | €0 | -€248 | -100.0% |
| Cash at bank and in hand | 54/58 | €12,179 | €61,963 | +€49,784 | +408.8% |
| Total equity and liabilities | 10/49 | €900,670 | €1,040,461 | +€139,791 | +15.5% |
| Equity | 10/15 | €443,299 | €436,918 | -€6,381 | -1.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €424,699 | €418,318 | -€6,381 | -1.5% |
| Tax-exempt reserves | 132 | €29,529 | €29,529 | = | 0.0% |
| Distributable reserves | 133 | €395,169 | €388,788 | -€6,381 | -1.6% |
| Amounts payable | 17/49 | €457,372 | €603,544 | +€146,172 | +32.0% |
| Amounts payable after more than one year | 17 | €308,942 | €435,000 | +€126,058 | +40.8% |
| Financial debts | 170/4 | €308,942 | €435,000 | +€126,058 | +40.8% |
| Amounts payable within one year | 42/48 | €148,430 | €168,544 | +€20,114 | +13.6% |
| Trade debts | 44 | €44,091 | €18,805 | -€25,286 | -57.3% |
| Suppliers | 440/4 | €44,091 | €18,805 | -€25,286 | -57.3% |
| Taxes, remuneration and social security | 45 | €96,641 | €91,385 | -€5,255 | -5.4% |
| Taxes | 450/3 | €48,039 | €35,614 | -€12,426 | -25.9% |
| Remuneration and social security | 454/9 | €48,601 | €55,772 | +€7,170 | +14.8% |
| Other amounts payable | 47/48 | €7,697 | €58,353 | +€50,656 | +658.1% |
| Remuneration, social security and pensions | 62 | €409,449 | €452,915 | +€43,466 | +10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,468 | €17,621 | -€25,847 | -59.5% |
| Other operating charges | 640/8 | €15,888 | €11,078 | -€4,810 | -30.3% |
| Non-recurring operating charges | 66A | €11,996 | €0 | -€11,996 | -100.0% |
| Gross operating margin | 9900 | €498,521 | €476,406 | -€22,114 | -4.4% |
| Operating profit (loss) | 9901 | €17,720 | -€5,207 | -€22,928 | |
| Financial income | 75/76B | €11,294 | €13 | -€11,281 | -99.9% |
| Recurring financial income | 75 | €11,294 | €13 | -€11,281 | -99.9% |
| Financial charges | 65/66B | €2,008 | €347 | -€1,661 | -82.7% |
| Recurring financial charges | 65 | €2,008 | €347 | -€1,661 | -82.7% |
| Profit (loss) for the period before taxes | 9903 | €27,007 | -€5,541 | -€32,548 | |
| Income taxes | 67/77 | €3,893 | €840 | -€3,053 | -78.4% |
| Profit (loss) for the period | 9904 | €23,114 | -€6,381 | -€29,495 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,114 | -€6,381 | -€29,495 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.