FOTORAMA: 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.
FOTORAMA
Largest movements
- Tangible fixed assets -€60,864
down €60,864 (-12.3%), from €492,933 to €432,069
of which Plant, machinery and equipment: -€54,477
- Stocks and contracts +€11,658
up €11,658 (+14.5%), from €80,404 to €92,062
- Receivables within one year -€7,913
down €7,913 (-34.4%), from €23,015 to €15,102
of which Trade receivables: -€5,377
- Debts after one year -€56,100
down €56,100 (-14.1%), from €398,216 to €342,116
- Gross operating margin +€3,769
up €3,769 (+4.4%), from €85,079 to €88,848
- Depreciation +€1,443
up €1,443 (+1.8%), from €78,549 to €79,992
- Financial charges -€1,213
down €1,213 (-9.9%), from €12,217 to €11,004
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 | €689,710 | €634,940 | -€54,770 | -7.9% |
| Fixed assets | 21/28 | €492,933 | €432,069 | -€60,864 | -12.3% |
| Tangible fixed assets | 22/27 | €492,933 | €432,069 | -€60,864 | -12.3% |
| Land and buildings | 22 | €9,013 | €9,013 | = | 0.0% |
| Plant, machinery and equipment | 23 | €451,026 | €396,549 | -€54,477 | -12.1% |
| Other tangible fixed assets | 26 | €32,894 | €26,507 | -€6,387 | -19.4% |
| Current assets | 29/58 | €196,777 | €202,871 | +€6,094 | +3.1% |
| Stocks and contracts in progress | 3 | €80,404 | €92,062 | +€11,658 | +14.5% |
| Stocks | 30/36 | €80,404 | €92,062 | +€11,658 | +14.5% |
| Amounts receivable within one year | 40/41 | €23,015 | €15,102 | -€7,913 | -34.4% |
| Trade receivables | 40 | €20,464 | €15,087 | -€5,377 | -26.3% |
| Other amounts receivable | 41 | €2,551 | €15 | -€2,536 | -99.4% |
| Cash at bank and in hand | 54/58 | €91,109 | €94,621 | +€3,512 | +3.9% |
| Deferred charges and accrued income | 490/1 | €2,249 | €1,086 | -€1,163 | -51.7% |
| Total equity and liabilities | 10/49 | €689,710 | €634,940 | -€54,770 | -7.9% |
| Equity | 10/15 | €227,787 | €223,781 | -€4,006 | -1.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €209,237 | €205,231 | -€4,006 | -1.9% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Tax-exempt reserves | 132 | €67,724 | €67,724 | = | 0.0% |
| Distributable reserves | 133 | €139,658 | €135,652 | -€4,006 | -2.9% |
| Amounts payable | 17/49 | €461,923 | €411,159 | -€50,764 | -11.0% |
| Amounts payable after more than one year | 17 | €398,216 | €342,116 | -€56,100 | -14.1% |
| Financial debts | 170/4 | €398,216 | €342,116 | -€56,100 | -14.1% |
| Amounts payable within one year | 42/48 | €63,707 | €69,043 | +€5,336 | +8.4% |
| Current portion of amounts payable after more than one year | 42 | €56,200 | €56,100 | -€100 | -0.2% |
| Trade debts | 44 | €79 | €3,514 | +€3,435 | +4,348% |
| Suppliers | 440/4 | €79 | €3,514 | +€3,435 | +4,348% |
| Taxes, remuneration and social security | 45 | €6,363 | €8,364 | +€2,001 | +31.4% |
| Taxes | 450/3 | €6,363 | €8,364 | +€2,001 | +31.4% |
| Other amounts payable | 47/48 | €1,065 | €1,065 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,549 | €79,992 | +€1,443 | +1.8% |
| Other operating charges | 640/8 | €1,912 | €1,858 | -€54 | -2.8% |
| Gross operating margin | 9900 | €85,079 | €88,848 | +€3,769 | +4.4% |
| Operating profit (loss) | 9901 | €4,618 | €6,998 | +€2,380 | +51.5% |
| Financial income | 75/76B | €106 | - | -€106 | |
| Recurring financial income | 75 | €106 | - | -€106 | |
| Financial charges | 65/66B | €12,217 | €11,004 | -€1,213 | -9.9% |
| Recurring financial charges | 65 | €12,217 | €11,004 | -€1,213 | -9.9% |
| Profit (loss) for the period before taxes | 9903 | -€7,493 | -€4,006 | +€3,487 | +46.5% |
| Profit (loss) for the period | 9904 | -€7,493 | -€4,006 | +€3,487 | +46.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,493 | -€4,006 | +€3,487 | +46.5% |
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 16 October 2026 via checked.be.