FORTRI: 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.
FORTRI
Largest movements
- Receivables within one year +€234,436
up €234,436 (+45.8%), from €511,579 to €746,015
of which Other amounts receivable: +€240,001
- Tangible fixed assets -€157,999
down €157,999 (-19.8%), from €796,324 to €638,325
of which Other tangible fixed assets: -€109,653
- Current investments -€101,703
down €101,703 (-32.8%), from €310,383 to €208,680
- Cash -€50,908
down €50,908 (-39.4%), from €129,341 to €78,434
mainly Receivables within one year (-€234,436) and Net result for the year (-€161,585)
- Deferred charges and accrued income -€19,947
down €19,947 (-26.9%), from €74,274 to €54,327
- Trade debts +€215,254
up €215,254 (+39.3%), from €548,195 to €763,449
- Profit (loss) carried forward -€161,585
down €161,585 (-46.8%), from €344,913 to €183,328
- Debts after one year -€112,367
down €112,367 (-18.3%), from €615,048 to €502,681
- Current portion of long-term debt -€35,048
down €35,048 (-23.8%), from €147,415 to €112,367
- Staff costs +€99,842
up €99,842 (+10.8%), from €927,500 to €1.0m
- Gross operating margin -€76,903
down €76,903 (-6.4%), from €1.2m to €1.1m
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 | €1,851,748 | €1,756,240 | -€95,508 | -5.2% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €796,919 | €638,920 | -€157,999 | -19.8% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €796,324 | €638,325 | -€157,999 | -19.8% |
| Plant, machinery and equipment | 23 | €176,813 | €129,300 | -€47,513 | -26.9% |
| Furniture and vehicles | 24 | €31,559 | €30,726 | -€833 | -2.6% |
| Other tangible fixed assets | 26 | €587,952 | €478,299 | -€109,653 | -18.6% |
| Financial fixed assets | 28 | €595 | €595 | = | 0.0% |
| Current assets | 29/58 | €1,054,829 | €1,117,320 | +€62,491 | +5.9% |
| Stocks and contracts in progress | 3 | €29,252 | €29,865 | +€613 | +2.1% |
| Stocks | 30/36 | €29,252 | €29,865 | +€613 | +2.1% |
| Amounts receivable within one year | 40/41 | €511,579 | €746,015 | +€234,436 | +45.8% |
| Trade receivables | 40 | €8,046 | €2,481 | -€5,565 | -69.2% |
| Other amounts receivable | 41 | €503,533 | €743,533 | +€240,001 | +47.7% |
| Current investments | 50/53 | €310,383 | €208,680 | -€101,703 | -32.8% |
| Cash at bank and in hand | 54/58 | €129,341 | €78,434 | -€50,908 | -39.4% |
| Deferred charges and accrued income | 490/1 | €74,274 | €54,327 | -€19,947 | -26.9% |
| Total equity and liabilities | 10/49 | €1,851,748 | €1,756,240 | -€95,508 | -5.2% |
| Equity | 10/15 | €382,986 | €221,400 | -€161,585 | -42.2% |
| Contributions | 10/11 | €34,611 | €34,611 | = | 0.0% |
| Reserves | 13 | €3,461 | €3,461 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,461 | €3,461 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,461 | €3,461 | = | 0.0% |
| Profit (loss) carried forward | 14 | €344,913 | €183,328 | -€161,585 | -46.8% |
| Amounts payable | 17/49 | €1,468,762 | €1,534,839 | +€66,077 | +4.5% |
| Amounts payable after more than one year | 17 | €615,048 | €502,681 | -€112,367 | -18.3% |
| Financial debts | 170/4 | €615,048 | €502,681 | -€112,367 | -18.3% |
| Amounts payable within one year | 42/48 | €853,714 | €1,030,866 | +€177,152 | +20.8% |
| Current portion of amounts payable after more than one year | 42 | €147,415 | €112,367 | -€35,048 | -23.8% |
| Financial debts | 43 | €21,667 | €21,667 | = | 0.0% |
| Credit institutions | 430/8 | €21,667 | €21,667 | = | 0.0% |
| Trade debts | 44 | €548,195 | €763,449 | +€215,254 | +39.3% |
| Suppliers | 440/4 | €548,195 | €763,449 | +€215,254 | +39.3% |
| Taxes, remuneration and social security | 45 | €128,905 | €125,532 | -€3,373 | -2.6% |
| Taxes | 450/3 | €2,619 | €2,277 | -€342 | -13.1% |
| Remuneration and social security | 454/9 | €126,285 | €123,255 | -€3,031 | -2.4% |
| Other amounts payable | 47/48 | €7,533 | €7,851 | +€318 | +4.2% |
| Accrued charges and deferred income | 492/3 | - | €1,293 | +€1,293 | |
| Remuneration, social security and pensions | 62 | €927,500 | €1,027,341 | +€99,842 | +10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €178,004 | €172,096 | -€5,908 | -3.3% |
| Other operating charges | 640/8 | €26,649 | €37,221 | +€10,572 | +39.7% |
| Gross operating margin | 9900 | €1,194,212 | €1,117,309 | -€76,903 | -6.4% |
| Operating profit (loss) | 9901 | €62,059 | -€119,349 | -€181,408 | |
| Financial income | 75/76B | €1,546 | €1,549 | +€2 | +0.1% |
| Recurring financial income | 75 | €1,546 | €1,549 | +€2 | +0.1% |
| Financial charges | 65/66B | €47,069 | €43,419 | -€3,650 | -7.8% |
| Recurring financial charges | 65 | €47,069 | €43,419 | -€3,650 | -7.8% |
| Profit (loss) for the period before taxes | 9903 | €16,536 | -€161,219 | -€177,756 | |
| Income taxes | 67/77 | €372 | €366 | -€6 | -1.7% |
| Profit (loss) for the period | 9904 | €16,164 | -€161,585 | -€177,749 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,164 | -€161,585 | -€177,749 |
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 19 October 2026 via checked.be.