FORTENA: 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.
FORTENA
Largest movements
- Current investments +€1.9m
up €1.9m (+37.0%), from €5.0m to €6.9m
- Receivables within one year -€143,354
down €143,354 (-91.9%), from €155,963 to €12,609
of which Other amounts receivable: -€149,730
- Cash -€101,093
down €101,093 (-65.3%), from €154,706 to €53,613
mainly Current investments (-€1.9m) and Contributions, distributions and other (-€570,940)
- Tangible fixed assets -€82,781
down €82,781 (-7.9%), from €1.1m to €971,399
of which Land and buildings: -€81,759
- Reserves +€1.5m
up €1.5m (+24.1%), from €6.1m to €7.5m
- Gross operating margin +€744,971
up €744,971 (+35.8%), from €2.1m to €2.8m
- Taxes +€241,401
up €241,401 (+37.1%), from €651,426 to €892,826
- Financial income +€104,871
up €104,871 (+94.0%), from €111,519 to €216,390
- Financial charges +€37,139
up €37,139, from -€15,044 to €22,095
of which Non-recurring financial charges: +€30,518
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 | €6,378,291 | €7,905,382 | +€1.5m | +23.9% |
| Fixed assets | 21/28 | €1,054,180 | €971,399 | -€82,781 | -7.9% |
| Tangible fixed assets | 22/27 | €1,054,180 | €971,399 | -€82,781 | -7.9% |
| Land and buildings | 22 | €1,050,188 | €968,429 | -€81,759 | -7.8% |
| Plant, machinery and equipment | 23 | €1,944 | €2,970 | +€1,026 | +52.8% |
| Other tangible fixed assets | 26 | €2,048 | - | -€2,048 | |
| Current assets | 29/58 | €5,324,112 | €6,933,983 | +€1.6m | +30.2% |
| Amounts receivable within one year | 40/41 | €155,963 | €12,609 | -€143,354 | -91.9% |
| Trade receivables | 40 | €6,233 | €12,609 | +€6,376 | +102% |
| Other amounts receivable | 41 | €149,730 | - | -€149,730 | |
| Current investments | 50/53 | €5,007,505 | €6,861,474 | +€1.9m | +37.0% |
| Cash at bank and in hand | 54/58 | €154,706 | €53,613 | -€101,093 | -65.3% |
| Deferred charges and accrued income | 490/1 | €5,939 | €6,287 | +€348 | +5.9% |
| Total equity and liabilities | 10/49 | €6,378,291 | €7,905,382 | +€1.5m | +23.9% |
| Equity | 10/15 | €6,084,338 | €7,545,395 | +€1.5m | +24.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €6,071,938 | €7,532,995 | +€1.5m | +24.1% |
| Distributable reserves | 133 | €6,071,938 | €7,532,995 | +€1.5m | +24.1% |
| Amounts payable | 17/49 | €293,953 | €359,987 | +€66,034 | +22.5% |
| Amounts payable after more than one year | 17 | €200 | €200 | = | 0.0% |
| Other amounts payable | 178/9 | €200 | €200 | = | 0.0% |
| Amounts payable within one year | 42/48 | €277,811 | €352,957 | +€75,147 | +27.0% |
| Trade debts | 44 | €1,071 | €27,485 | +€26,413 | +2,466% |
| Suppliers | 440/4 | €1,071 | €27,485 | +€26,413 | +2,466% |
| Taxes, remuneration and social security | 45 | €276,740 | €319,810 | +€43,071 | +15.6% |
| Taxes | 450/3 | €274,111 | €317,205 | +€43,093 | +15.7% |
| Remuneration and social security | 454/9 | €2,628 | €2,606 | -€22 | -0.9% |
| Other amounts payable | 47/48 | - | €5,663 | +€5,663 | |
| Accrued charges and deferred income | 492/3 | €15,942 | €6,830 | -€9,112 | -57.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,189 | €84,573 | -€616 | -0.7% |
| Other operating charges | 640/8 | €9,174 | €9,598 | +€424 | +4.6% |
| Gross operating margin | 9900 | €2,079,728 | €2,824,699 | +€744,971 | +35.8% |
| Operating profit (loss) | 9901 | €1,985,365 | €2,730,527 | +€745,163 | +37.5% |
| Financial income | 75/76B | €111,519 | €216,390 | +€104,871 | +94.0% |
| Recurring financial income | 75 | €111,519 | €216,390 | +€104,871 | +94.0% |
| Financial charges | 65/66B | -€15,044 | €22,095 | +€37,139 | |
| Recurring financial charges | 65 | €15,474 | €22,095 | +€6,621 | +42.8% |
| Non-recurring financial charges | 66B | -€30,518 | - | +€30,518 | |
| Profit (loss) for the period before taxes | 9903 | €2,111,928 | €2,924,823 | +€812,895 | +38.5% |
| Income taxes | 67/77 | €651,426 | €892,826 | +€241,401 | +37.1% |
| Profit (loss) for the period | 9904 | €1,460,503 | €2,031,997 | +€571,494 | +39.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,460,503 | €2,031,997 | +€571,494 | +39.1% |
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 17 October 2026 via checked.be.