FORTREZ: 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.
FORTREZ
Largest movements
- Financial fixed assets -€169,400
no longer reported in 2025 (was €169,400)
- Tangible fixed assets +€165,839
new in 2025: €165,839
- Receivables within one year +€3,874
up €3,874 (+34.8%), from €11,126 to €15,000
of which Trade receivables: +€15,000
- Cash -€2,660
down €2,660 (-8.5%), from €31,111 to €28,452
mainly Investment in fixed assets (net) (-€4,688) and Net result for the year (-€4,305)
- Profit (loss) carried forward -€4,305
down €4,305 (-39.8%), from -€10,823 to -€15,128
- Gross operating margin +€12,316
up €12,316, from -€5,057 to €7,258
- Depreciation +€8,249
new in 2025: €8,249
- Other operating charges +€294
up €294 (+26.9%), from €1,094 to €1,389
- Financial charges +€88
up €88 (+4.8%), from €1,839 to €1,927
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 | €211,637 | €210,016 | -€1,621 | -0.8% |
| Fixed assets | 21/28 | €169,400 | €165,839 | -€3,560 | -2.1% |
| Tangible fixed assets | 22/27 | - | €165,839 | +€165,839 | |
| Land and buildings | 22 | - | €165,839 | +€165,839 | |
| Financial fixed assets | 28 | €169,400 | - | -€169,400 | |
| Current assets | 29/58 | €42,238 | €44,177 | +€1,940 | +4.6% |
| Amounts receivable within one year | 40/41 | €11,126 | €15,000 | +€3,874 | +34.8% |
| Trade receivables | 40 | - | €15,000 | +€15,000 | |
| Other amounts receivable | 41 | €11,126 | - | -€11,126 | |
| Cash at bank and in hand | 54/58 | €31,111 | €28,452 | -€2,660 | -8.5% |
| Deferred charges and accrued income | 490/1 | - | €726 | +€726 | |
| Total equity and liabilities | 10/49 | €211,637 | €210,016 | -€1,621 | -0.8% |
| Equity | 10/15 | €89,177 | €84,872 | -€4,305 | -4.8% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,823 | -€15,128 | -€4,305 | -39.8% |
| Amounts payable | 17/49 | €122,460 | €125,145 | +€2,685 | +2.2% |
| Amounts payable after more than one year | 17 | €120,000 | €120,000 | = | 0.0% |
| Financial debts | 170/4 | €120,000 | €120,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €660 | €2,028 | +€1,368 | +207% |
| Taxes, remuneration and social security | 45 | €411 | - | -€411 | |
| Taxes | 450/3 | €411 | - | -€411 | |
| Other amounts payable | 47/48 | €249 | €2,028 | +€1,779 | +714% |
| Accrued charges and deferred income | 492/3 | €1,800 | €3,117 | +€1,317 | +73.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €8,249 | +€8,249 | |
| Other operating charges | 640/8 | €1,094 | €1,389 | +€294 | +26.9% |
| Gross operating margin | 9900 | -€5,057 | €7,258 | +€12,316 | |
| Operating profit (loss) | 9901 | -€6,152 | -€2,379 | +€3,773 | +61.3% |
| Financial charges | 65/66B | €1,839 | €1,927 | +€88 | +4.8% |
| Recurring financial charges | 65 | €1,839 | €1,927 | +€88 | +4.8% |
| Profit (loss) for the period before taxes | 9903 | -€7,990 | -€4,305 | +€3,685 | +46.1% |
| Profit (loss) for the period | 9904 | -€7,990 | -€4,305 | +€3,685 | +46.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,990 | -€4,305 | +€3,685 | +46.1% |
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.