FSS Projects: 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.
FSS Projects
Largest movements
- Cash -€19,166
down €19,166 (-84.1%), from €22,792 to €3,625
mainly Trade debts (-€56,156) and Accrued charges and deferred income (-€14,308)
- Tangible fixed assets -€10,197
down €10,197 (-29.9%), from €34,154 to €23,957
- Receivables within one year -€8,140
down €8,140 (-13.1%), from €62,094 to €53,954
of which Trade receivables: -€22,195
- Deferred charges and accrued income +€5,479
up €5,479 (+233.3%), from €2,348 to €7,827
- Stocks and contracts +€5,128
up €5,128 (+2.2%), from €231,699 to €236,826
- Trade debts -€56,156
down €56,156 (-53.6%), from €104,851 to €48,695
- Tax, wage and social debts +€17,400
up €17,400 (+97.1%), from €17,917 to €35,317
- Reserves +€16,336
up €16,336 (+59.7%), from €27,344 to €43,680
- Accrued charges and deferred income -€14,308
down €14,308 (-96.3%), from €14,851 to €543
- Short-term financial debts +€11,089
up €11,089 (+165.3%), from €6,708 to €17,797
- Gross operating margin +€5,515
up €5,515 (+13.5%), from €40,930 to €46,444
- Taxes +€2,021
up €2,021 (+45.5%), from €4,443 to €6,465
- Other operating charges -€1,473
down €1,473 (-29.1%), from €5,060 to €3,587
- Financial charges -€1,261
down €1,261 (-11.9%), from €10,577 to €9,316
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 | €353,763 | €326,322 | -€27,441 | -7.8% |
| Formation expenses | 20 | €677 | €133 | -€544 | -80.4% |
| Fixed assets | 21/28 | €34,154 | €23,957 | -€10,197 | -29.9% |
| Tangible fixed assets | 22/27 | €34,154 | €23,957 | -€10,197 | -29.9% |
| Plant, machinery and equipment | 23 | €3,791 | €1,616 | -€2,175 | -57.4% |
| Furniture and vehicles | 24 | €10,420 | €5,912 | -€4,508 | -43.3% |
| Other tangible fixed assets | 26 | €19,943 | €16,429 | -€3,514 | -17.6% |
| Current assets | 29/58 | €318,932 | €302,233 | -€16,700 | -5.2% |
| Stocks and contracts in progress | 3 | €231,699 | €236,826 | +€5,128 | +2.2% |
| Stocks | 30/36 | €231,699 | €236,826 | +€5,128 | +2.2% |
| Amounts receivable within one year | 40/41 | €62,094 | €53,954 | -€8,140 | -13.1% |
| Trade receivables | 40 | €53,018 | €30,822 | -€22,195 | -41.9% |
| Other amounts receivable | 41 | €9,076 | €23,131 | +€14,055 | +154.9% |
| Cash at bank and in hand | 54/58 | €22,792 | €3,625 | -€19,166 | -84.1% |
| Deferred charges and accrued income | 490/1 | €2,348 | €7,827 | +€5,479 | +233.3% |
| Total equity and liabilities | 10/49 | €353,763 | €326,322 | -€27,441 | -7.8% |
| Equity | 10/15 | €147,344 | €163,680 | +€16,336 | +11.1% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Reserves | 13 | €27,344 | €43,680 | +€16,336 | +59.7% |
| Distributable reserves | 133 | €27,344 | €43,680 | +€16,336 | +59.7% |
| Amounts payable | 17/49 | €206,419 | €162,642 | -€43,777 | -21.2% |
| Amounts payable after more than one year | 17 | €37,267 | €27,630 | -€9,636 | -25.9% |
| Financial debts | 170/4 | €37,267 | €27,630 | -€9,636 | -25.9% |
| Amounts payable within one year | 42/48 | €154,302 | €134,469 | -€19,832 | -12.9% |
| Current portion of amounts payable after more than one year | 42 | €9,096 | €9,636 | +€541 | +5.9% |
| Financial debts | 43 | €6,708 | €17,797 | +€11,089 | +165.3% |
| Credit institutions | 430/8 | €6,708 | €17,797 | +€11,089 | +165.3% |
| Trade debts | 44 | €104,851 | €48,695 | -€56,156 | -53.6% |
| Suppliers | 440/4 | €104,851 | €48,695 | -€56,156 | -53.6% |
| Advances received on contracts in progress | 46 | €1,953 | €0 | -€1,953 | -100.0% |
| Taxes, remuneration and social security | 45 | €17,917 | €35,317 | +€17,400 | +97.1% |
| Taxes | 450/3 | €17,917 | €35,317 | +€17,400 | +97.1% |
| Other amounts payable | 47/48 | €13,777 | €23,024 | +€9,247 | +67.1% |
| Accrued charges and deferred income | 492/3 | €14,851 | €543 | -€14,308 | -96.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,618 | €10,741 | +€123 | +1.2% |
| Other operating charges | 640/8 | €5,060 | €3,587 | -€1,473 | -29.1% |
| Non-recurring operating charges | 66A | €323 | €0 | -€323 | -100.0% |
| Gross operating margin | 9900 | €40,930 | €46,444 | +€5,515 | +13.5% |
| Operating profit (loss) | 9901 | €24,928 | €32,117 | +€7,188 | +28.8% |
| Financial income | 75/76B | €27 | €0 | -€27 | -99.6% |
| Recurring financial income | 75 | €27 | €0 | -€27 | -99.6% |
| Financial charges | 65/66B | €10,577 | €9,316 | -€1,261 | -11.9% |
| Recurring financial charges | 65 | €10,577 | €9,316 | -€1,261 | -11.9% |
| Profit (loss) for the period before taxes | 9903 | €14,379 | €22,801 | +€8,422 | +58.6% |
| Income taxes | 67/77 | €4,443 | €6,465 | +€2,021 | +45.5% |
| Profit (loss) for the period | 9904 | €9,935 | €16,336 | +€6,401 | +64.4% |
| Profit (loss) for the period to be appropriated | 9905 | €9,935 | €16,336 | +€6,401 | +64.4% |
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 28 September 2026 via checked.be.