FORTINORM: 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.
FORTINORM
Largest movements
- Stocks and contracts +€31,458
up €31,458 (+10.5%), from €300,322 to €331,780
- Tangible fixed assets -€13,692
down €13,692 (-5.7%), from €239,046 to €225,354
of which Land and buildings: -€13,442
- Cash -€8,866
down €8,866 (-50.1%), from €17,696 to €8,830
mainly Stocks and contracts (-€31,458) and Debts after one year (-€23,134)
- Reserves +€39,003
up €39,003 (+15.1%), from €258,929 to €297,931
- Debts after one year -€23,134
down €23,134 (-50.0%), from €46,263 to €23,128
- Other debts -€8,259
down €8,259 (-39.8%), from €20,759 to €12,500
- Tax, wage and social debts +€6,100
up €6,100 (+30.7%), from €19,837 to €25,937
- Advances received -€6,028
down €6,028 (-15.1%), from €40,000 to €33,972
- Gross operating margin +€40,181
up €40,181 (+92.4%), from €43,489 to €83,671
- Taxes +€11,332
up €11,332 (+338%), from €3,350 to €14,682
- Other operating charges +€4,204
up €4,204 (+101%), from €4,182 to €8,387
- Depreciation -€2,208
down €2,208 (-13.9%), from €15,900 to €13,692
- Financial charges -€1,964
down €1,964 (-17.8%), from €11,054 to €9,090
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 | €559,977 | €568,890 | +€8,913 | +1.6% |
| Fixed assets | 21/28 | €239,093 | €225,401 | -€13,692 | -5.7% |
| Tangible fixed assets | 22/27 | €239,046 | €225,354 | -€13,692 | -5.7% |
| Land and buildings | 22 | €238,421 | €224,979 | -€13,442 | -5.6% |
| Furniture and vehicles | 24 | €625 | €375 | -€250 | -40.0% |
| Financial fixed assets | 28 | €47 | €47 | = | 0.0% |
| Current assets | 29/58 | €320,884 | €343,489 | +€22,605 | +7.0% |
| Amounts receivable after more than one year | 29 | €1,584 | €1,584 | = | 0.0% |
| Other amounts receivable | 291 | €1,584 | €1,584 | = | 0.0% |
| Stocks and contracts in progress | 3 | €300,322 | €331,780 | +€31,458 | +10.5% |
| Stocks | 30/36 | €300,322 | €331,780 | +€31,458 | +10.5% |
| Cash at bank and in hand | 54/58 | €17,696 | €8,830 | -€8,866 | -50.1% |
| Deferred charges and accrued income | 490/1 | €1,282 | €1,296 | +€13 | +1.0% |
| Total equity and liabilities | 10/49 | €559,977 | €568,890 | +€8,913 | +1.6% |
| Equity | 10/15 | €308,929 | €347,931 | +€39,003 | +12.6% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €258,929 | €297,931 | +€39,003 | +15.1% |
| Distributable reserves | 133 | €258,929 | €297,931 | +€39,003 | +15.1% |
| Amounts payable | 17/49 | €251,049 | €220,958 | -€30,090 | -12.0% |
| Amounts payable after more than one year | 17 | €46,263 | €23,128 | -€23,134 | -50.0% |
| Financial debts | 170/4 | €46,263 | €23,128 | -€23,134 | -50.0% |
| Amounts payable within one year | 42/48 | €204,786 | €197,830 | -€6,956 | -3.4% |
| Current portion of amounts payable after more than one year | 42 | €22,678 | €23,134 | +€456 | +2.0% |
| Financial debts | 43 | €100,000 | €100,000 | = | 0.0% |
| Credit institutions | 430/8 | €100,000 | €100,000 | = | 0.0% |
| Trade debts | 44 | €1,511 | €2,287 | +€775 | +51.3% |
| Suppliers | 440/4 | €1,511 | €2,287 | +€775 | +51.3% |
| Advances received on contracts in progress | 46 | €40,000 | €33,972 | -€6,028 | -15.1% |
| Taxes, remuneration and social security | 45 | €19,837 | €25,937 | +€6,100 | +30.7% |
| Taxes | 450/3 | €19,837 | €25,937 | +€6,100 | +30.7% |
| Other amounts payable | 47/48 | €20,759 | €12,500 | -€8,259 | -39.8% |
| Non-recurring operating income | 76A | - | €50,000 | +€50,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,900 | €13,692 | -€2,208 | -13.9% |
| Other operating charges | 640/8 | €4,182 | €8,387 | +€4,204 | +101% |
| Gross operating margin | 9900 | €43,489 | €83,671 | +€40,181 | +92.4% |
| Operating profit (loss) | 9901 | €23,407 | €61,591 | +€38,185 | +163% |
| Financial income | 75/76B | €49 | €1,183 | +€1,134 | +2,338% |
| Recurring financial income | 75 | €49 | €1,183 | +€1,134 | +2,338% |
| Financial charges | 65/66B | €11,054 | €9,090 | -€1,964 | -17.8% |
| Recurring financial charges | 65 | €11,054 | €9,090 | -€1,964 | -17.8% |
| Profit (loss) for the period before taxes | 9903 | €12,401 | €53,684 | +€41,283 | +333% |
| Income taxes | 67/77 | €3,350 | €14,682 | +€11,332 | +338% |
| Profit (loss) for the period | 9904 | €9,052 | €39,003 | +€29,951 | +331% |
| Profit (loss) for the period to be appropriated | 9905 | €9,052 | €39,003 | +€29,951 | +331% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.