FORTINUM: what changed
What changed
FORTINUM
NACE 70.100, Activities of head offices
filed annual accounts (NBB)
Net result for the year
€1.1m
2024 · €499,120+€609,595
Equity
€3.2m
2024 · €2.1m+€1.1m
Cash
€7,836
2024 · €5,364+€2,472
Balance sheet total
€9.1m
2024 · €8.9m+€232,391
Largest movements
Assets
- Receivables within one year +€233,798
up €233,798 (+632%), from €36,967 to €270,765
of which Trade receivables: +€201,401
Equity and liabilities
- Reserves +€1.1m
up €1.1m (+56.9%), from €2.0m to €3.1m
of which Distributable reserves: +€603,515
- Debts after one year -€785,716
down €785,716 (-14.2%), from €5.5m to €4.8m
- Other debts -€105,322
down €105,322 (-46.6%), from €226,068 to €120,746
Income statement
- Financial income +€500,526
new in 2025: €500,526
- Turnover +€182,555
up €182,555 (+13.2%), from €1.4m to €1.6m
- Staff costs +€48,583
up €48,583 (+14.6%), from €332,814 to €381,397
- Taxes +€32,316
up €32,316 (+19.7%), from €163,999 to €196,315
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
€499,120
Turnover
+€182,555
Other operating income
-€1,987
Services and other goods
-€467
Staff costs
-€48,583
Depreciation
-€347
Other operating charges
+€36
Financial income
+€500,526
Financial charges
+€10,178
Taxes
-€32,316
Result 2025
€1.1m
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
+€788,189
Investment
€0
Financing
-€785,716
Cash 2024
€5,364
From operations (derived)
+€788,189
Net result for the year
+€1.1m
Depreciation
+€5,416
Receivables within one year
-€233,798
Deferred charges and accrued income
-€1,537
Trade debts
+€71,030
Tax, wage and social debts
-€56,315
Other debts
-€105,322
Financing
-€785,716
Debts after one year
-€785,716
Cash 2025
€7,836
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,884,708 | €9,117,099 | +€232,391 | +2.6% |
| Fixed assets | 21/28 | €8,792,172 | €8,786,755 | -€5,416 | -0.1% |
| Intangible fixed assets | 21 | €11,820 | €6,404 | -€5,416 | -45.8% |
| Financial fixed assets | 28 | €8,780,352 | €8,780,352 | = | 0.0% |
| Affiliated companies | 280/1 | €8,780,352 | €8,780,352 | = | 0.0% |
| Participating interests | 280 | €8,780,352 | €8,780,352 | = | 0.0% |
| Current assets | 29/58 | €92,536 | €330,344 | +€237,808 | +257% |
| Amounts receivable within one year | 40/41 | €36,967 | €270,765 | +€233,798 | +632% |
| Trade receivables | 40 | €33,667 | €235,069 | +€201,401 | +598% |
| Other amounts receivable | 41 | €3,300 | €35,697 | +€32,397 | +982% |
| Cash at bank and in hand | 54/58 | €5,364 | €7,836 | +€2,472 | +46.1% |
| Deferred charges and accrued income | 490/1 | €50,205 | €51,742 | +€1,537 | +3.1% |
| Total equity and liabilities | 10/49 | €8,884,708 | €9,117,099 | +€232,391 | +2.6% |
| Equity | 10/15 | €2,100,069 | €3,208,783 | +€1.1m | +52.8% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €1,950,069 | €3,058,783 | +€1.1m | +56.9% |
| Tax-exempt reserves | 132 | €252,600 | €757,800 | +€505,200 | +200% |
| Distributable reserves | 133 | €1,697,469 | €2,300,983 | +€603,515 | +35.6% |
| Amounts payable | 17/49 | €6,784,639 | €5,908,316 | -€876,323 | -12.9% |
| Amounts payable after more than one year | 17 | €5,541,149 | €4,755,432 | -€785,716 | -14.2% |
| Financial debts | 170/4 | €5,541,149 | €4,755,432 | -€785,716 | -14.2% |
| Subordinated loans | 170 | €3,184,000 | €3,184,000 | = | 0.0% |
| Credit institutions | 173 | €2,357,149 | €1,571,432 | -€785,716 | -33.3% |
| Amounts payable within one year | 42/48 | €1,243,490 | €1,152,883 | -€90,607 | -7.3% |
| Current portion of amounts payable after more than one year | 42 | €785,716 | €785,716 | = | 0.0% |
| Trade debts | 44 | €67,871 | €138,901 | +€71,030 | +105% |
| Suppliers | 440/4 | €67,871 | €138,901 | +€71,030 | +105% |
| Taxes, remuneration and social security | 45 | €163,835 | €107,520 | -€56,315 | -34.4% |
| Taxes | 450/3 | €94,075 | €16,768 | -€77,307 | -82.2% |
| Remuneration and social security | 454/9 | €69,760 | €90,753 | +€20,993 | +30.1% |
| Other amounts payable | 47/48 | €226,068 | €120,746 | -€105,322 | -46.6% |
| Operating income | 70/76A | €1,394,312 | €1,574,880 | +€180,568 | +13.0% |
| Turnover | 70 | €1,387,533 | €1,570,088 | +€182,555 | +13.2% |
| Other operating income | 74 | €6,779 | €4,792 | -€1,987 | -29.3% |
| Operating charges | 60/66A | €578,352 | €627,713 | +€49,361 | +8.5% |
| Services and other goods | 61 | €240,194 | €240,661 | +€467 | +0.2% |
| Remuneration, social security and pensions | 62 | €332,814 | €381,397 | +€48,583 | +14.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,069 | €5,416 | +€347 | +6.9% |
| Other operating charges | 640/8 | €275 | €239 | -€36 | -13.1% |
| Operating profit (loss) | 9901 | €815,960 | €947,167 | +€131,207 | +16.1% |
| Financial income | 75/76B | - | €500,526 | +€500,526 | |
| Recurring financial income | 75 | - | €500,526 | +€500,526 | |
| Income from financial fixed assets | 750 | - | €500,000 | +€500,000 | |
| Income from current assets | 751 | - | €526 | +€526 | |
| Financial charges | 65/66B | €152,841 | €142,663 | -€10,178 | -6.7% |
| Recurring financial charges | 65 | €152,841 | €142,663 | -€10,178 | -6.7% |
| Debt charges | 650 | €151,253 | €140,681 | -€10,572 | -7.0% |
| Other financial charges | 652/9 | €1,588 | €1,982 | +€394 | +24.8% |
| Profit (loss) for the period before taxes | 9903 | €663,119 | €1,305,030 | +€641,911 | +96.8% |
| Income taxes | 67/77 | €163,999 | €196,315 | +€32,316 | +19.7% |
| Taxes | 670/3 | €163,999 | €196,315 | +€32,316 | +19.7% |
| Profit (loss) for the period | 9904 | €499,120 | €1,108,715 | +€609,595 | +122% |
| Transfer to tax-exempt reserves | 689 | €252,600 | €505,200 | +€252,600 | +100% |
| Profit (loss) for the period to be appropriated | 9905 | €246,520 | €603,515 | +€356,995 | +145% |
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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 2 November 2026 via checked.be.