FORTEZZIO: 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.
FORTEZZIO
Largest movements
- Cash -€24,571
down €24,571 (-53.6%), from €45,871 to €21,300
mainly Other debts (-€25,400) and Debts after one year (-€17,924)
- Deferred charges and accrued income -€11,346
down €11,346 (-96.0%), from €11,821 to €475
- Tangible fixed assets -€9,116
down €9,116 (-3.6%), from €251,029 to €241,913
of which Land and buildings: -€8,935
- Receivables within one year -€6,426
down €6,426 (-98.1%), from €6,549 to €123
of which Trade receivables: -€6,534
- Other debts -€25,400
down €25,400 (-93.2%), from €27,257 to €1,857
- Debts after one year -€17,924
down €17,924 (-17.9%), from €100,255 to €82,331
- Tax, wage and social debts -€12,072
no longer reported in 2025 (was €12,072)
- Accrued charges and deferred income +€3,500
new in 2025: €3,500
- Gross operating margin -€25,567
down €25,567 (-47.3%), from €54,008 to €28,440
- Turnover -€18,000
down €18,000 (-83.3%), from €21,600 to €3,600
- Other operating charges +€12,190
up €12,190 (+334%), from €3,650 to €15,840
- Taxes -€9,188
no longer reported in 2025 (was €9,188)
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 | €315,270 | €263,810 | -€51,460 | -16.3% |
| Fixed assets | 21/28 | €251,029 | €241,913 | -€9,116 | -3.6% |
| Tangible fixed assets | 22/27 | €251,029 | €241,913 | -€9,116 | -3.6% |
| Land and buildings | 22 | €250,525 | €241,590 | -€8,935 | -3.6% |
| Plant, machinery and equipment | 23 | €505 | €323 | -€182 | -36.0% |
| Current assets | 29/58 | €64,241 | €21,897 | -€42,343 | -65.9% |
| Amounts receivable within one year | 40/41 | €6,549 | €123 | -€6,426 | -98.1% |
| Trade receivables | 40 | €6,534 | - | -€6,534 | |
| Other amounts receivable | 41 | €15 | €123 | +€108 | +711% |
| Cash at bank and in hand | 54/58 | €45,871 | €21,300 | -€24,571 | -53.6% |
| Deferred charges and accrued income | 490/1 | €11,821 | €475 | -€11,346 | -96.0% |
| Total equity and liabilities | 10/49 | €315,270 | €263,810 | -€51,460 | -16.3% |
| Equity | 10/15 | €158,281 | €158,198 | -€83 | -0.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €137,821 | €137,738 | -€83 | -0.1% |
| Amounts payable | 17/49 | €156,989 | €105,612 | -€51,377 | -32.7% |
| Amounts payable after more than one year | 17 | €100,255 | €82,331 | -€17,924 | -17.9% |
| Financial debts | 170/4 | €100,255 | €82,331 | -€17,924 | -17.9% |
| Amounts payable within one year | 42/48 | €56,734 | €19,781 | -€36,953 | -65.1% |
| Current portion of amounts payable after more than one year | 42 | €17,405 | €17,924 | +€519 | +3.0% |
| Taxes, remuneration and social security | 45 | €12,072 | - | -€12,072 | |
| Taxes | 450/3 | €12,072 | - | -€12,072 | |
| Other amounts payable | 47/48 | €27,257 | €1,857 | -€25,400 | -93.2% |
| Accrued charges and deferred income | 492/3 | - | €3,500 | +€3,500 | |
| Turnover | 70 | €21,600 | €3,600 | -€18,000 | -83.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €3,398 | €3,025 | -€373 | -11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,536 | €9,116 | -€420 | -4.4% |
| Other operating charges | 640/8 | €3,650 | €15,840 | +€12,190 | +334% |
| Gross operating margin | 9900 | €54,008 | €28,440 | -€25,567 | -47.3% |
| Operating profit (loss) | 9901 | €40,821 | €3,484 | -€37,337 | -91.5% |
| Financial charges | 65/66B | €4,071 | €3,566 | -€505 | -12.4% |
| Recurring financial charges | 65 | €4,071 | €3,566 | -€505 | -12.4% |
| Profit (loss) for the period before taxes | 9903 | €36,750 | -€83 | -€36,833 | |
| Income taxes | 67/77 | €9,188 | - | -€9,188 | |
| Profit (loss) for the period | 9904 | €27,563 | -€83 | -€27,645 | |
| Profit (loss) for the period to be appropriated | 9905 | €27,563 | -€83 | -€27,645 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.