FORTICON: 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.
FORTICON
Largest movements
- Intangible fixed assets -€358,200
down €358,200 (-25.0%), from €1.4m to €1.1m
- Cash -€91,808
down €91,808 (-86.5%), from €106,126 to €14,317
mainly Contributions, distributions and other (-€347,368) and Debts after one year (-€278,387)
- Deferred charges and accrued income -€55,221
down €55,221 (-43.2%), from €127,678 to €72,458
- Tangible fixed assets +€21,250
up €21,250 (+8.5%), from €249,315 to €270,565
of which Furniture and vehicles: +€16,963
- Debts after one year -€278,387
down €278,387 (-32.4%), from €860,507 to €582,120
- Contributions -€150,000
down €150,000 (-33.3%), from €450,000 to €300,000
- Other debts -€71,734
down €71,734 (-22.5%), from €319,102 to €247,368
- Staff costs +€92,229
up €92,229 (+21.3%), from €433,837 to €526,066
- Depreciation +€26,849
up €26,849 (+6.3%), from €423,562 to €450,411
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 | €1,938,163 | €1,450,877 | -€487,286 | -25.1% |
| Fixed assets | 21/28 | €1,681,814 | €1,344,863 | -€336,950 | -20.0% |
| Intangible fixed assets | 21 | €1,432,499 | €1,074,299 | -€358,200 | -25.0% |
| Tangible fixed assets | 22/27 | €249,315 | €270,565 | +€21,250 | +8.5% |
| Land and buildings | 22 | €4,127 | €7,594 | +€3,467 | +84.0% |
| Plant, machinery and equipment | 23 | €5,242 | €6,062 | +€820 | +15.6% |
| Furniture and vehicles | 24 | €239,946 | €256,909 | +€16,963 | +7.1% |
| Current assets | 29/58 | €256,349 | €106,013 | -€150,336 | -58.6% |
| Amounts receivable within one year | 40/41 | €22,545 | €19,238 | -€3,307 | -14.7% |
| Trade receivables | 40 | €12,751 | €11,306 | -€1,445 | -11.3% |
| Other amounts receivable | 41 | €9,794 | €7,932 | -€1,862 | -19.0% |
| Cash at bank and in hand | 54/58 | €106,126 | €14,317 | -€91,808 | -86.5% |
| Deferred charges and accrued income | 490/1 | €127,678 | €72,458 | -€55,221 | -43.2% |
| Total equity and liabilities | 10/49 | €1,938,163 | €1,450,877 | -€487,286 | -25.1% |
| Equity | 10/15 | €450,000 | €300,000 | -€150,000 | -33.3% |
| Contributions | 10/11 | €450,000 | €300,000 | -€150,000 | -33.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,488,163 | €1,150,877 | -€337,286 | -22.7% |
| Amounts payable after more than one year | 17 | €860,507 | €582,120 | -€278,387 | -32.4% |
| Financial debts | 170/4 | €860,507 | €582,120 | -€278,387 | -32.4% |
| Amounts payable within one year | 42/48 | €627,656 | €568,757 | -€58,899 | -9.4% |
| Current portion of amounts payable after more than one year | 42 | €278,400 | €282,527 | +€4,128 | +1.5% |
| Financial debts | 43 | €113 | €249 | +€137 | +121.3% |
| Credit institutions | 430/8 | - | €137 | +€137 | |
| Other loans | 439 | €113 | €113 | = | 0.0% |
| Trade debts | 44 | €30,042 | €38,081 | +€8,039 | +26.8% |
| Suppliers | 440/4 | €30,042 | €38,081 | +€8,039 | +26.8% |
| Taxes, remuneration and social security | 45 | €0 | €532 | +€532 | |
| Remuneration and social security | 454/9 | €0 | €532 | +€532 | |
| Other amounts payable | 47/48 | €319,102 | €247,368 | -€71,734 | -22.5% |
| Non-recurring operating income | 76A | €8,640 | €8,969 | +€329 | +3.8% |
| Remuneration, social security and pensions | 62 | €433,837 | €526,066 | +€92,229 | +21.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €423,562 | €450,411 | +€26,849 | +6.3% |
| Other operating charges | 640/8 | €2,924 | €3,381 | +€457 | +15.6% |
| Non-recurring operating charges | 66A | €2,150 | €0 | -€2,150 | -100.0% |
| Gross operating margin | 9900 | €1,209,844 | €1,207,183 | -€2,661 | -0.2% |
| Operating profit (loss) | 9901 | €347,371 | €227,325 | -€120,046 | -34.6% |
| Financial income | 75/76B | €0 | €62 | +€62 | |
| Recurring financial income | 75 | €0 | €62 | +€62 | |
| Financial charges | 65/66B | €22,964 | €23,028 | +€63 | +0.3% |
| Recurring financial charges | 65 | €22,964 | €23,028 | +€63 | +0.3% |
| Profit (loss) for the period before taxes | 9903 | €324,407 | €204,359 | -€120,048 | -37.0% |
| Income taxes | 67/77 | €5,305 | €6,992 | +€1,687 | +31.8% |
| Profit (loss) for the period | 9904 | €319,102 | €197,368 | -€121,734 | -38.1% |
| Profit (loss) for the period to be appropriated | 9905 | €319,102 | €197,368 | -€121,734 | -38.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.