FS&B Management: 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.
FS&B Management
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Reserves -€8,252
down €8,252 (-2.1%), from €398,140 to €389,888
- Financial income -€122,966
down €122,966 (-95.3%), from €129,044 to €6,077
of which Non-recurring financial income: -€122,594
- Taxes -€13,496
down €13,496 (-61.0%), from €22,128 to €8,632
- Gross operating margin -€9,262
down €9,262 (-28.7%), from €32,324 to €23,062
- Depreciation +€520
up €520 (+146%), from €357 to €877
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 | €414,891 | €407,600 | -€7,292 | -1.8% |
| Fixed assets | 21/28 | €10,854 | €10,797 | -€57 | -0.5% |
| Tangible fixed assets | 22/27 | €4,104 | €3,227 | -€877 | -21.4% |
| Plant, machinery and equipment | 23 | €2,409 | €2,148 | -€261 | -10.8% |
| Furniture and vehicles | 24 | €1,695 | €1,079 | -€616 | -36.3% |
| Financial fixed assets | 28 | €6,750 | €7,570 | +€820 | +12.1% |
| Current assets | 29/58 | €404,037 | €396,803 | -€7,234 | -1.8% |
| Cash at bank and in hand | 54/58 | €400,906 | €396,803 | -€4,103 | -1.0% |
| Deferred charges and accrued income | 490/1 | €3,132 | - | -€3,132 | |
| Total equity and liabilities | 10/49 | €414,891 | €407,600 | -€7,292 | -1.8% |
| Equity | 10/15 | €410,540 | €402,288 | -€8,252 | -2.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €398,140 | €389,888 | -€8,252 | -2.1% |
| Distributable reserves | 133 | €398,140 | €389,888 | -€8,252 | -2.1% |
| Amounts payable | 17/49 | €4,351 | €5,311 | +€960 | +22.1% |
| Amounts payable within one year | 42/48 | €4,351 | €5,311 | +€960 | +22.1% |
| Trade debts | 44 | €2,432 | €1,903 | -€529 | -21.8% |
| Suppliers | 440/4 | €2,432 | €1,903 | -€529 | -21.8% |
| Taxes, remuneration and social security | 45 | €128 | €1,195 | +€1,067 | +833% |
| Taxes | 450/3 | €128 | €1,195 | +€1,067 | +833% |
| Other amounts payable | 47/48 | €1,791 | €2,214 | +€423 | +23.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €357 | €877 | +€520 | +146% |
| Other operating charges | 640/8 | €397 | €216 | -€181 | -45.6% |
| Gross operating margin | 9900 | €32,324 | €23,062 | -€9,262 | -28.7% |
| Operating profit (loss) | 9901 | €31,569 | €21,969 | -€9,601 | -30.4% |
| Financial income | 75/76B | €129,044 | €6,077 | -€122,966 | -95.3% |
| Recurring financial income | 75 | €6,450 | €6,077 | -€373 | -5.8% |
| Non-recurring financial income | 76B | €122,594 | - | -€122,594 | |
| Financial charges | 65/66B | €270 | €166 | -€104 | -38.6% |
| Recurring financial charges | 65 | €270 | €166 | -€104 | -38.6% |
| Profit (loss) for the period before taxes | 9903 | €160,343 | €27,880 | -€132,463 | -82.6% |
| Income taxes | 67/77 | €22,128 | €8,632 | -€13,496 | -61.0% |
| Profit (loss) for the period | 9904 | €138,215 | €19,248 | -€118,967 | -86.1% |
| Profit (loss) for the period to be appropriated | 9905 | €138,215 | €19,248 | -€118,967 | -86.1% |
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 24 October 2026 via checked.be.