FORTMIN: 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.
FORTMIN
Largest movements
- Receivables within one year +€175,562
up €175,562 (+145.7%), from €120,532 to €296,094
of which Trade receivables: +€160,360
- Tangible fixed assets -€45,805
down €45,805 (-12.5%), from €366,054 to €320,248
of which Leasing and similar rights: -€70,601
- Debts after one year +€94,719
up €94,719 (+54.8%), from €172,747 to €267,466
- Current portion of long-term debt +€50,840
up €50,840 (+87.6%), from €58,065 to €108,905
- Trade debts -€18,381
down €18,381 (-66.4%), from €27,701 to €9,320
- Profit (loss) carried forward +€6,455
up €6,455 (+3.6%), from €176,888 to €183,342
- Depreciation +€34,314
up €34,314 (+50.6%), from €67,829 to €102,143
- Gross operating margin +€13,963
up €13,963 (+7.5%), from €185,673 to €199,636
- Other operating charges +€8,011
up €8,011 (+37.0%), from €21,650 to €29,661
- Taxes -€5,504
down €5,504 (-23.7%), from €23,212 to €17,708
- Financial charges +€4,742
up €4,742 (+45.5%), from €10,424 to €15,166
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 | €494,068 | €624,960 | +€130,891 | +26.5% |
| Fixed assets | 21/28 | €370,707 | €324,901 | -€45,805 | -12.4% |
| Tangible fixed assets | 22/27 | €366,054 | €320,248 | -€45,805 | -12.5% |
| Plant, machinery and equipment | 23 | €2,851 | €3,325 | +€474 | +16.6% |
| Furniture and vehicles | 24 | €290,332 | €314,653 | +€24,322 | +8.4% |
| Leasing and similar rights | 25 | €72,871 | €2,270 | -€70,601 | -96.9% |
| Financial fixed assets | 28 | €4,653 | €4,653 | = | 0.0% |
| Current assets | 29/58 | €123,362 | €300,059 | +€176,697 | +143.2% |
| Amounts receivable within one year | 40/41 | €120,532 | €296,094 | +€175,562 | +145.7% |
| Trade receivables | 40 | €106,013 | €266,373 | +€160,360 | +151.3% |
| Other amounts receivable | 41 | €14,519 | €29,721 | +€15,202 | +104.7% |
| Cash at bank and in hand | 54/58 | €2,830 | €673 | -€2,157 | -76.2% |
| Deferred charges and accrued income | 490/1 | - | €3,292 | +€3,292 | |
| Total equity and liabilities | 10/49 | €494,068 | €624,960 | +€130,891 | +26.5% |
| Equity | 10/15 | €181,888 | €188,342 | +€6,455 | +3.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €176,888 | €183,342 | +€6,455 | +3.6% |
| Amounts payable | 17/49 | €312,181 | €436,617 | +€124,437 | +39.9% |
| Amounts payable after more than one year | 17 | €172,747 | €267,466 | +€94,719 | +54.8% |
| Financial debts | 170/4 | €172,747 | €267,466 | +€94,719 | +54.8% |
| Amounts payable within one year | 42/48 | €139,402 | €169,120 | +€29,718 | +21.3% |
| Current portion of amounts payable after more than one year | 42 | €58,065 | €108,905 | +€50,840 | +87.6% |
| Trade debts | 44 | €27,701 | €9,320 | -€18,381 | -66.4% |
| Suppliers | 440/4 | €27,701 | €9,320 | -€18,381 | -66.4% |
| Taxes, remuneration and social security | 45 | €53,637 | €50,896 | -€2,741 | -5.1% |
| Taxes | 450/3 | €48,787 | €50,544 | +€1,757 | +3.6% |
| Remuneration and social security | 454/9 | €4,850 | €352 | -€4,498 | -92.7% |
| Accrued charges and deferred income | 492/3 | €31 | €31 | = | 0.0% |
| Non-recurring operating income | 76A | - | €4,866 | +€4,866 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,829 | €102,143 | +€34,314 | +50.6% |
| Other operating charges | 640/8 | €21,650 | €29,661 | +€8,011 | +37.0% |
| Gross operating margin | 9900 | €185,673 | €199,636 | +€13,963 | +7.5% |
| Operating profit (loss) | 9901 | €96,195 | €67,831 | -€28,363 | -29.5% |
| Financial income | 75/76B | €19 | €69 | +€50 | +265.7% |
| Recurring financial income | 75 | €19 | €69 | +€50 | +265.7% |
| Financial charges | 65/66B | €10,424 | €15,166 | +€4,742 | +45.5% |
| Recurring financial charges | 65 | €10,424 | €15,166 | +€4,742 | +45.5% |
| Profit (loss) for the period before taxes | 9903 | €85,790 | €52,734 | -€33,055 | -38.5% |
| Income taxes | 67/77 | €23,212 | €17,708 | -€5,504 | -23.7% |
| Profit (loss) for the period | 9904 | €62,577 | €35,026 | -€27,551 | -44.0% |
| Profit (loss) for the period to be appropriated | 9905 | €62,577 | €35,026 | -€27,551 | -44.0% |
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 4 October 2026 via checked.be.