FORTIMO: 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.
What changed
FORTIMO
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€11,461
2024 · €6,021+€5,440
Equity
€690,565
2024 · €679,105+€11,460
Cash
€3,067
2024 · €1,112+€1,955
Balance sheet total
€777,722
2024 · €797,031-€19,309
Largest movements
Assets
- Tangible fixed assets -€20,274
down €20,274 (-6.2%), from €327,349 to €307,075
Equity and liabilities
- Current portion of long-term debt -€17,794
no longer reported in 2025 (was €17,794)
- Profit (loss) carried forward +€11,461
up €11,461 (+6.5%), from -€177,544 to -€166,083
Income statement
- Gross operating margin +€6,155
up €6,155 (+17.7%), from €34,859 to €41,014
- Other operating charges +€1,470
up €1,470 (+12.7%), from €11,546 to €13,016
- Financial charges -€970
down €970 (-62.8%), from €1,544 to €574
- Financial income -€564
down €564 (-11.6%), from €4,875 to €4,311
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.
Result 2024
€6,021
Gross operating margin
+€6,155
Depreciation
+€86
Other operating charges
-€1,470
Other operating items
+€264
Financial income
-€564
Financial charges
+€970
Result 2025
€11,461
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€19,751
Investment
-€1
Financing
-€17,795
Cash 2024
€1,112
From operations (derived)
+€19,751
Net result for the year
+€11,461
Depreciation
+€20,274
Receivables within one year
-€845
Deferred charges and accrued income
+€1,837
Trade debts
-€7,629
Other debts
-€5,877
Accrued charges and deferred income
+€530
Investment (derived)
-€1
Investment in fixed assets (net)
-€1
Financing
-€17,795
Current portion of long-term debt
-€17,794
Contributions, distributions and other
-€1
Cash 2025
€3,067
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €797,031 | €777,722 | -€19,309 | -2.4% |
| Fixed assets | 21/28 | €714,730 | €694,457 | -€20,273 | -2.8% |
| Tangible fixed assets | 22/27 | €327,349 | €307,075 | -€20,274 | -6.2% |
| Land and buildings | 22 | €327,349 | €307,075 | -€20,274 | -6.2% |
| Financial fixed assets | 28 | €387,382 | €387,382 | +€1 | 0.0% |
| Current assets | 29/58 | €82,301 | €83,265 | +€964 | +1.2% |
| Amounts receivable within one year | 40/41 | €79,144 | €79,989 | +€845 | +1.1% |
| Other amounts receivable | 41 | €79,144 | €79,989 | +€845 | +1.1% |
| Cash at bank and in hand | 54/58 | €1,112 | €3,067 | +€1,955 | +176% |
| Deferred charges and accrued income | 490/1 | €2,046 | €209 | -€1,837 | -89.8% |
| Total equity and liabilities | 10/49 | €797,031 | €777,722 | -€19,309 | -2.4% |
| Equity | 10/15 | €679,105 | €690,565 | +€11,460 | +1.7% |
| Contributions | 10/11 | €286,529 | €286,529 | -€0 | 0.0% |
| Capital | 10 | €263,363 | €263,363 | -€0 | 0.0% |
| Issued capital | 100 | €263,363 | €263,363 | -€0 | 0.0% |
| Contributions outside capital | 11 | €23,166 | €23,166 | +€0 | 0.0% |
| Share premium | 1100/10 | €23,166 | €23,166 | +€0 | 0.0% |
| Revaluation surpluses | 12 | €560,204 | €560,204 | -€0 | 0.0% |
| Reserves | 13 | €9,916 | €9,915 | -€1 | 0.0% |
| Non-distributable reserves | 130/1 | €9,916 | €9,915 | -€1 | 0.0% |
| Legal reserve | 130 | €9,916 | €9,915 | -€1 | 0.0% |
| Profit (loss) carried forward | 14 | -€177,544 | -€166,083 | +€11,461 | +6.5% |
| Amounts payable | 17/49 | €117,927 | €87,157 | -€30,770 | -26.1% |
| Amounts payable within one year | 42/48 | €117,187 | €85,887 | -€31,300 | -26.7% |
| Current portion of amounts payable after more than one year | 42 | €17,794 | - | -€17,794 | |
| Trade debts | 44 | €7,839 | €210 | -€7,629 | -97.3% |
| Suppliers | 440/4 | €7,839 | €210 | -€7,629 | -97.3% |
| Other amounts payable | 47/48 | €91,554 | €85,677 | -€5,877 | -6.4% |
| Accrued charges and deferred income | 492/3 | €740 | €1,270 | +€530 | +71.7% |
| Non-recurring operating income | 76A | €523 | - | -€523 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,360 | €20,274 | -€86 | -0.4% |
| Other operating charges | 640/8 | €11,546 | €13,016 | +€1,470 | +12.7% |
| Non-recurring operating charges | 66A | €264 | - | -€264 | |
| Gross operating margin | 9900 | €34,859 | €41,014 | +€6,155 | +17.7% |
| Operating profit (loss) | 9901 | €2,690 | €7,724 | +€5,034 | +187% |
| Financial income | 75/76B | €4,875 | €4,311 | -€564 | -11.6% |
| Recurring financial income | 75 | €4,875 | €4,311 | -€564 | -11.6% |
| Financial charges | 65/66B | €1,544 | €574 | -€970 | -62.8% |
| Recurring financial charges | 65 | €1,544 | €574 | -€970 | -62.8% |
| Profit (loss) for the period before taxes | 9903 | €6,021 | €11,461 | +€5,440 | +90.4% |
| Profit (loss) for the period | 9904 | €6,021 | €11,461 | +€5,440 | +90.4% |
| Profit (loss) for the period to be appropriated | 9905 | €6,021 | €11,461 | +€5,440 | +90.4% |
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 17 October 2026 via checked.be.