FS TECHNICAL: 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 TECHNICAL
Largest movements
- Receivables within one year +€33,027
up €33,027 (+247.3%), from €13,357 to €46,384
of which Trade receivables: +€29,226
- Tangible fixed assets -€20,173
down €20,173 (-6.9%), from €292,693 to €272,520
of which Land and buildings: -€11,846
- Stocks and contracts +€4,507
new in 2025: €4,507
- Current portion of long-term debt -€32,909
down €32,909 (-80.9%), from €40,684 to €7,775
- Debts after one year +€25,466
up €25,466 (+14.2%), from €178,943 to €204,409
- Profit (loss) carried forward +€22,231
up €22,231 (+56.2%), from -€39,534 to -€17,303
- Other debts +€3,886
up €3,886 (+4.0%), from €97,062 to €100,948
- Gross operating margin +€35,484
up €35,484 (+209.8%), from €16,912 to €52,396
- Depreciation +€2,030
up €2,030 (+11.2%), from €18,143 to €20,173
- Financial charges +€541
up €541 (+5.9%), from €9,114 to €9,655
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 | €310,691 | €329,203 | +€18,512 | +6.0% |
| Fixed assets | 21/28 | €292,693 | €272,520 | -€20,173 | -6.9% |
| Tangible fixed assets | 22/27 | €292,693 | €272,520 | -€20,173 | -6.9% |
| Land and buildings | 22 | €268,250 | €256,404 | -€11,846 | -4.4% |
| Plant, machinery and equipment | 23 | €6,223 | €5,586 | -€637 | -10.2% |
| Furniture and vehicles | 24 | €18,220 | €10,530 | -€7,690 | -42.2% |
| Current assets | 29/58 | €17,997 | €56,683 | +€38,686 | +214.9% |
| Stocks and contracts in progress | 3 | - | €4,507 | +€4,507 | |
| Stocks | 30/36 | - | €4,507 | +€4,507 | |
| Amounts receivable within one year | 40/41 | €13,357 | €46,384 | +€33,027 | +247.3% |
| Trade receivables | 40 | €13,357 | €42,583 | +€29,226 | +218.8% |
| Other amounts receivable | 41 | - | €3,801 | +€3,801 | |
| Cash at bank and in hand | 54/58 | €4,625 | €5,792 | +€1,167 | +25.2% |
| Deferred charges and accrued income | 490/1 | €16 | - | -€16 | |
| Total equity and liabilities | 10/49 | €310,691 | €329,203 | +€18,512 | +6.0% |
| Equity | 10/15 | -€19,074 | €3,157 | +€22,231 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | - | -€18,600 | |
| Share premium | 1100/10 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€39,534 | -€17,303 | +€22,231 | +56.2% |
| Amounts payable | 17/49 | €329,764 | €326,046 | -€3,718 | -1.1% |
| Amounts payable after more than one year | 17 | €178,943 | €204,409 | +€25,466 | +14.2% |
| Financial debts | 170/4 | €178,943 | €204,409 | +€25,466 | +14.2% |
| Amounts payable within one year | 42/48 | €150,822 | €121,637 | -€29,185 | -19.4% |
| Current portion of amounts payable after more than one year | 42 | €40,684 | €7,775 | -€32,909 | -80.9% |
| Trade debts | 44 | €12,978 | €12,914 | -€64 | -0.5% |
| Suppliers | 440/4 | €12,978 | €12,914 | -€64 | -0.5% |
| Taxes, remuneration and social security | 45 | €97 | - | -€97 | |
| Taxes | 450/3 | €97 | - | -€97 | |
| Other amounts payable | 47/48 | €97,062 | €100,948 | +€3,886 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,143 | €20,173 | +€2,030 | +11.2% |
| Other operating charges | 640/8 | €149 | €337 | +€188 | +126.5% |
| Gross operating margin | 9900 | €16,912 | €52,396 | +€35,484 | +209.8% |
| Operating profit (loss) | 9901 | -€1,380 | €31,886 | +€33,266 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €9,114 | €9,655 | +€541 | +5.9% |
| Recurring financial charges | 65 | €9,114 | €9,655 | +€541 | +5.9% |
| Profit (loss) for the period before taxes | 9903 | -€10,495 | €22,231 | +€32,726 | |
| Profit (loss) for the period | 9904 | -€10,495 | €22,231 | +€32,726 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,495 | €22,231 | +€32,726 |
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.