FS MANAGEMENT: 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.
FS MANAGEMENT
Largest movements
- Receivables within one year -€9,739
down €9,739 (-15.0%), from €64,935 to €55,196
of which Trade receivables: -€8,472
- Cash -€3,772
down €3,772 (-89.5%), from €4,217 to €445
mainly Other debts (-€14,560) and Trade debts (-€10,173)
- Tangible fixed assets -€940
down €940 (-35.4%), from €2,657 to €1,717
of which Furniture and vehicles: -€522
- Other debts -€14,560
down €14,560 (-49.5%), from €29,438 to €14,878
- Profit (loss) carried forward +€11,184
up €11,184 (+65.7%), from -€17,025 to -€5,841
- Trade debts -€10,173
down €10,173 (-49.1%), from €20,718 to €10,545
- Tax, wage and social debts -€1,485
down €1,485 (-10.5%), from €14,112 to €12,627
of which Taxes: -€4,485
- Gross operating margin +€12,594
up €12,594 (+225.9%), from €5,576 to €18,170
- Taxes +€1,414
up €1,414 (+54.9%), from €2,578 to €3,992
- Financial charges +€756
up €756 (+154.7%), from €489 to €1,244
- Other operating charges +€320
up €320 (+65.4%), from €489 to €809
- Depreciation -€225
down €225 (-19.3%), from €1,165 to €940
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 | €72,703 | €57,669 | -€15,033 | -20.7% |
| Fixed assets | 21/28 | €2,657 | €1,717 | -€940 | -35.4% |
| Tangible fixed assets | 22/27 | €2,657 | €1,717 | -€940 | -35.4% |
| Plant, machinery and equipment | 23 | €1,788 | €1,369 | -€419 | -23.4% |
| Furniture and vehicles | 24 | €869 | €347 | -€522 | -60.0% |
| Current assets | 29/58 | €70,046 | €55,953 | -€14,093 | -20.1% |
| Amounts receivable within one year | 40/41 | €64,935 | €55,196 | -€9,739 | -15.0% |
| Trade receivables | 40 | €46,673 | €38,201 | -€8,472 | -18.2% |
| Other amounts receivable | 41 | €18,262 | €16,995 | -€1,267 | -6.9% |
| Cash at bank and in hand | 54/58 | €4,217 | €445 | -€3,772 | -89.5% |
| Deferred charges and accrued income | 490/1 | €893 | €312 | -€582 | -65.1% |
| Total equity and liabilities | 10/49 | €72,703 | €57,669 | -€15,033 | -20.7% |
| Equity | 10/15 | €8,435 | €19,619 | +€11,184 | +132.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €6,860 | €6,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€17,025 | -€5,841 | +€11,184 | +65.7% |
| Amounts payable | 17/49 | €64,268 | €38,051 | -€26,218 | -40.8% |
| Amounts payable within one year | 42/48 | €64,268 | €38,051 | -€26,218 | -40.8% |
| Trade debts | 44 | €20,718 | €10,545 | -€10,173 | -49.1% |
| Suppliers | 440/4 | €20,718 | €10,545 | -€10,173 | -49.1% |
| Taxes, remuneration and social security | 45 | €14,112 | €12,627 | -€1,485 | -10.5% |
| Taxes | 450/3 | €14,112 | €9,627 | -€4,485 | -31.8% |
| Remuneration and social security | 454/9 | - | €3,000 | +€3,000 | |
| Other amounts payable | 47/48 | €29,438 | €14,878 | -€14,560 | -49.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,165 | €940 | -€225 | -19.3% |
| Other operating charges | 640/8 | €489 | €809 | +€320 | +65.4% |
| Non-recurring operating charges | 66A | €8,000 | - | -€8,000 | |
| Gross operating margin | 9900 | €5,576 | €18,170 | +€12,594 | +225.9% |
| Operating profit (loss) | 9901 | -€4,078 | €16,421 | +€20,499 | |
| Financial charges | 65/66B | €489 | €1,244 | +€756 | +154.7% |
| Recurring financial charges | 65 | €489 | €1,244 | +€756 | +154.7% |
| Profit (loss) for the period before taxes | 9903 | -€4,567 | €15,177 | +€19,744 | |
| Income taxes | 67/77 | €2,578 | €3,992 | +€1,414 | +54.9% |
| Profit (loss) for the period | 9904 | -€7,145 | €11,184 | +€18,329 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,145 | €11,184 | +€18,329 |
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 4 October 2026 via checked.be.