FORTOS: 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.
FORTOS
Largest movements
- Current investments -€6.0m
down €6.0m (-75.0%), from €8.0m to €2.0m
- Tangible fixed assets +€4.6m
up €4.6m (+268.0%), from €1.7m to €6.4m
of which Land and buildings: +€4.1m
- Cash +€395,730
up €395,730 (+662.5%), from €59,733 to €455,462
mainly Current investments (+€6.0m) and Depreciation (+€80,511)
- Other debts -€517,597
down €517,597 (-100.0%), from €517,597 to €0
- Reserves -€331,210
down €331,210 (-11.4%), from €2.9m to €2.6m
of which Distributable reserves: -€331,210
- Financial income -€185,426
down €185,426 (-70.1%), from €264,653 to €79,228
- Taxes -€77,387
down €77,387 (-87.4%), from €88,510 to €11,123
- Depreciation +€55,461
up €55,461 (+221.4%), from €25,049 to €80,511
- Gross operating margin -€7,443
down €7,443 (-10.8%), from €68,782 to €61,339
- Other operating charges +€3,501
up €3,501 (+17.7%), from €19,786 to €23,287
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 | €9,818,878 | €8,881,447 | -€937,432 | -9.5% |
| Fixed assets | 21/28 | €1,728,234 | €6,359,555 | +€4.6m | +268.0% |
| Tangible fixed assets | 22/27 | €1,728,234 | €6,359,555 | +€4.6m | +268.0% |
| Land and buildings | 22 | €435,633 | €4,528,006 | +€4.1m | +939.4% |
| Plant, machinery and equipment | 23 | €8,672 | €5,985 | -€2,687 | -31.0% |
| Furniture and vehicles | 24 | €56,021 | €43,742 | -€12,280 | -21.9% |
| Assets under construction and advance payments | 27 | €1,227,908 | €1,781,823 | +€553,915 | +45.1% |
| Current assets | 29/58 | €8,090,644 | €2,521,892 | -€5.6m | -68.8% |
| Amounts receivable after more than one year | 29 | - | €3,671 | +€3,671 | |
| Other amounts receivable | 291 | - | €3,671 | +€3,671 | |
| Amounts receivable within one year | 40/41 | €30,911 | €51,693 | +€20,782 | +67.2% |
| Other amounts receivable | 41 | €30,911 | €51,693 | +€20,782 | +67.2% |
| Current investments | 50/53 | €8,000,000 | €2,000,000 | -€6.0m | -75.0% |
| Cash at bank and in hand | 54/58 | €59,733 | €455,462 | +€395,730 | +662.5% |
| Deferred charges and accrued income | 490/1 | €0 | €11,065 | +€11,065 | |
| Total equity and liabilities | 10/49 | €9,818,878 | €8,881,447 | -€937,432 | -9.5% |
| Equity | 10/15 | €9,191,333 | €8,860,123 | -€331,210 | -3.6% |
| Contributions | 10/11 | €6,290,208 | €6,290,208 | = | 0.0% |
| Reserves | 13 | €2,901,125 | €2,569,915 | -€331,210 | -11.4% |
| Non-distributable reserves | 130/1 | €4,021 | €4,021 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,021 | €4,021 | = | 0.0% |
| Distributable reserves | 133 | €2,897,104 | €2,565,894 | -€331,210 | -11.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €627,545 | €21,324 | -€606,221 | -96.6% |
| Amounts payable within one year | 42/48 | €627,545 | €16,014 | -€611,531 | -97.4% |
| Trade debts | 44 | €0 | €2,369 | +€2,369 | |
| Suppliers | 440/4 | €0 | €2,369 | +€2,369 | |
| Taxes, remuneration and social security | 45 | €109,948 | €13,645 | -€96,303 | -87.6% |
| Taxes | 450/3 | €109,948 | €13,645 | -€96,303 | -87.6% |
| Other amounts payable | 47/48 | €517,597 | €0 | -€517,597 | -100.0% |
| Accrued charges and deferred income | 492/3 | - | €5,310 | +€5,310 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,049 | €80,511 | +€55,461 | +221.4% |
| Other operating charges | 640/8 | €19,786 | €23,287 | +€3,501 | +17.7% |
| Gross operating margin | 9900 | €68,782 | €61,339 | -€7,443 | -10.8% |
| Operating profit (loss) | 9901 | €23,947 | -€42,458 | -€66,405 | |
| Financial income | 75/76B | €264,653 | €79,228 | -€185,426 | -70.1% |
| Recurring financial income | 75 | €264,653 | €79,228 | -€185,426 | -70.1% |
| Financial charges | 65/66B | €28 | €170 | +€142 | +499.8% |
| Recurring financial charges | 65 | €28 | €170 | +€142 | +499.8% |
| Profit (loss) for the period before taxes | 9903 | €288,572 | €36,600 | -€251,972 | -87.3% |
| Income taxes | 67/77 | €88,510 | €11,123 | -€77,387 | -87.4% |
| Profit (loss) for the period | 9904 | €200,062 | €25,476 | -€174,585 | -87.3% |
| Profit (loss) for the period to be appropriated | 9905 | €200,062 | €25,476 | -€174,585 | -87.3% |
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 7 October 2026 via checked.be.