FORTIFIN: what changed
What changed
FORTIFIN
NACE 64.999, Other financial services
filed annual accounts (NBB)
Net result for the year
€101,390
2024 · €100,810+€581
Equity
€63,115
2024 · €261,724-€198,610
Cash
€286,888
2024 · €251,700+€35,187
Balance sheet total
€326,607
2024 · €276,669+€49,938
Largest movements
Assets
- Cash +€35,187
up €35,187 (+14.0%), from €251,700 to €286,888
mainly Other debts (+€250,000) and Net result for the year (+€101,390)
- Receivables within one year +€17,528
up €17,528 (+98.6%), from €17,770 to €35,298
of which Trade receivables: +€17,515
Equity and liabilities
- Other debts +€250,000
new in 2025: €250,000
- Profit (loss) carried forward -€198,610
down €198,610 (-77.7%), from €255,724 to €57,115
Income statement
No income-statement line moved by more than 1% of the activity.
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.
Result 2024
€100,810
Gross operating margin
+€763
Depreciation
+€406
Other operating charges
-€408
Financial income
+€0
Financial charges
-€146
Taxes
-€34
Result 2025
€101,390
raises the resultlowers the result
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.
From operations
+€335,187
Investment
€0
Financing
-€300,000
Cash 2024
€251,700
From operations (derived)
+€335,187
Net result for the year
+€101,390
Depreciation
+€918
Receivables within one year
-€17,528
Deferred charges and accrued income
+€1,859
Trade debts
-€1,261
Tax, wage and social debts
-€191
Other debts
+€250,000
Financing
-€300,000
Contributions, distributions and other
-€300,000
Cash 2025
€286,888
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €276,669 | €326,607 | +€49,938 | +18.0% |
| Fixed assets | 21/28 | €1,621 | €703 | -€918 | -56.7% |
| Tangible fixed assets | 22/27 | €1,321 | €403 | -€918 | -69.5% |
| Furniture and vehicles | 24 | €1,321 | €403 | -€918 | -69.5% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €275,048 | €325,904 | +€50,856 | +18.5% |
| Amounts receivable within one year | 40/41 | €17,770 | €35,298 | +€17,528 | +98.6% |
| Trade receivables | 40 | €17,751 | €35,265 | +€17,515 | +98.7% |
| Other amounts receivable | 41 | €20 | €33 | +€13 | +65.6% |
| Cash at bank and in hand | 54/58 | €251,700 | €286,888 | +€35,187 | +14.0% |
| Deferred charges and accrued income | 490/1 | €5,577 | €3,718 | -€1,859 | -33.3% |
| Total equity and liabilities | 10/49 | €276,669 | €326,607 | +€49,938 | +18.0% |
| Equity | 10/15 | €261,724 | €63,115 | -€198,610 | -75.9% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €255,724 | €57,115 | -€198,610 | -77.7% |
| Amounts payable | 17/49 | €14,945 | €263,492 | +€248,547 | +1,663% |
| Amounts payable within one year | 42/48 | €14,945 | €263,492 | +€248,547 | +1,663% |
| Trade debts | 44 | €2,456 | €1,194 | -€1,261 | -51.4% |
| Suppliers | 440/4 | €2,456 | €1,194 | -€1,261 | -51.4% |
| Taxes, remuneration and social security | 45 | €12,489 | €12,298 | -€191 | -1.5% |
| Taxes | 450/3 | €12,489 | €12,298 | -€191 | -1.5% |
| Other amounts payable | 47/48 | - | €250,000 | +€250,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,324 | €918 | -€406 | -30.7% |
| Other operating charges | 640/8 | €260 | €668 | +€408 | +157% |
| Gross operating margin | 9900 | €131,981 | €132,744 | +€763 | +0.6% |
| Operating profit (loss) | 9901 | €130,397 | €131,158 | +€761 | +0.6% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,716 | €1,862 | +€146 | +8.5% |
| Recurring financial charges | 65 | €1,716 | €1,862 | +€146 | +8.5% |
| Profit (loss) for the period before taxes | 9903 | €128,681 | €129,295 | +€614 | +0.5% |
| Income taxes | 67/77 | €27,871 | €27,905 | +€34 | +0.1% |
| Profit (loss) for the period | 9904 | €100,810 | €101,390 | +€581 | +0.6% |
| Profit (loss) for the period to be appropriated | 9905 | €100,810 | €101,390 | +€581 | +0.6% |
Next steps
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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 3 November 2026 via checked.be.