FSA: 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.
FSA
Largest movements
- Cash -€195,521
down €195,521 (-62.7%), from €311,765 to €116,244
- Tangible fixed assets -€180,134
down €180,134 (-4.3%), from €4.2m to €4.0m
of which Land and buildings: -€122,273
- Receivables within one year +€114,703
up €114,703 (+18.3%), from €626,786 to €741,489
of which Trade receivables: +€119,430
- Tax, wage and social debts -€179,007
down €179,007 (-39.7%), from €450,384 to €271,378
- Trade debts -€178,117
down €178,117 (-61.7%), from €288,463 to €110,346
- Current portion of long-term debt +€88,580
new in 2024: €88,580
- Depreciation +€143,997
up €143,997 (+74.2%), from €194,095 to €338,092
- Gross operating margin +€98,723
up €98,723 (+36.0%), from €273,906 to €372,629
- Financial charges -€19,689
down €19,689 (-74.1%), from €26,576 to €6,887
- Taxes -€14,730
down €14,730 (-100%), from €14,730 to €0
- Financial income +€13,296
up €13,296 (+187%), from €7,119 to €20,415
From the 2022 result to the 2024 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2022 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,125,479 | €4,864,088 | -€261,391 | -5.1% |
| Fixed assets | 21/28 | €4,185,117 | €4,004,983 | -€180,134 | -4.3% |
| Tangible fixed assets | 22/27 | €4,185,117 | €4,004,983 | -€180,134 | -4.3% |
| Land and buildings | 22 | €4,112,636 | €3,990,363 | -€122,273 | -3.0% |
| Plant, machinery and equipment | 23 | €679 | €3,712 | +€3,033 | +447% |
| Furniture and vehicles | 24 | €71,802 | €10,908 | -€60,894 | -84.8% |
| Current assets | 29/58 | €940,362 | €859,105 | -€81,257 | -8.6% |
| Amounts receivable within one year | 40/41 | €626,786 | €741,489 | +€114,703 | +18.3% |
| Trade receivables | 40 | €265,853 | €385,284 | +€119,430 | +44.9% |
| Other amounts receivable | 41 | €360,933 | €356,205 | -€4,727 | -1.3% |
| Current investments | 50/53 | €117 | €117 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €311,765 | €116,244 | -€195,521 | -62.7% |
| Deferred charges and accrued income | 490/1 | €1,695 | €1,256 | -€439 | -25.9% |
| Total equity and liabilities | 10/49 | €5,125,479 | €4,864,088 | -€261,391 | -5.1% |
| Equity | 10/15 | €4,357,266 | €4,364,418 | +€7,153 | +0.2% |
| Contributions | 10/11 | €1,678,600 | €1,678,600 | = | 0.0% |
| Reserves | 13 | €1,702,208 | €1,702,208 | = | 0.0% |
| Non-distributable reserves | 130/1 | €49,197 | €49,197 | = | 0.0% |
| Reserves not available under the articles | 1311 | €49,197 | €49,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €248,000 | €248,000 | = | 0.0% |
| Distributable reserves | 133 | €1,405,011 | €1,405,011 | = | 0.0% |
| Profit (loss) carried forward | 14 | €976,457 | €983,610 | +€7,153 | +0.7% |
| Amounts payable | 17/49 | €768,213 | €499,670 | -€268,543 | -35.0% |
| Amounts payable within one year | 42/48 | €738,847 | €470,304 | -€268,543 | -36.3% |
| Current portion of amounts payable after more than one year | 42 | - | €88,580 | +€88,580 | |
| Trade debts | 44 | €288,463 | €110,346 | -€178,117 | -61.7% |
| Suppliers | 440/4 | €288,463 | €110,346 | -€178,117 | -61.7% |
| Taxes, remuneration and social security | 45 | €450,384 | €271,378 | -€179,007 | -39.7% |
| Taxes | 450/3 | €450,384 | €271,378 | -€179,007 | -39.7% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €29,366 | €29,366 | = | 0.0% |
| Non-recurring operating income | 76A | €43,988 | €0 | -€43,988 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €194,095 | €338,092 | +€143,997 | +74.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€1,536 | -€1,536 | |
| Other operating charges | 640/8 | €33,630 | €42,449 | +€8,818 | +26.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €273,906 | €372,629 | +€98,723 | +36.0% |
| Operating profit (loss) | 9901 | €46,180 | -€6,376 | -€52,556 | |
| Financial income | 75/76B | €7,119 | €20,415 | +€13,296 | +187% |
| Recurring financial income | 75 | €7,119 | €20,415 | +€13,296 | +187% |
| Financial charges | 65/66B | €26,576 | €6,887 | -€19,689 | -74.1% |
| Recurring financial charges | 65 | €26,576 | €6,887 | -€19,689 | -74.1% |
| Profit (loss) for the period before taxes | 9903 | €26,724 | €7,153 | -€19,571 | -73.2% |
| Income taxes | 67/77 | €14,730 | €0 | -€14,730 | -100% |
| Profit (loss) for the period | 9904 | €11,994 | €7,153 | -€4,842 | -40.4% |
| Profit (loss) for the period to be appropriated | 9905 | €11,994 | €7,153 | -€4,842 | -40.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 30 June 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.