FST INVEST: 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.
FST INVEST
Largest movements
- Stocks and contracts -€229,047
down €229,047 (-73.3%), from €312,328 to €83,281
- Current investments +€72,113
up €72,113 (+205%), from €35,236 to €107,349
- Receivables within one year +€5,293
up €5,293 (+9.8%), from €53,885 to €59,178
- Debts after one year -€240,000
no longer reported in 2025 (was €240,000)
- Profit (loss) carried forward +€70,229
up €70,229 (+126%), from €55,794 to €126,023
- Tax, wage and social debts +€22,983
new in 2025: €22,983
- Reserves +€7,259
up €7,259 (+202%), from €3,591 to €10,850
of which Non-distributable reserves: +€7,259
- Trade debts -€6,734
down €6,734 (-31.2%), from €21,608 to €14,874
- Gross operating margin +€124,465
up €124,465, from -€22,442 to €102,023
- Taxes +€22,658
up €22,658 (+4,532%), from €500 to €23,158
- Financial income -€3,002
down €3,002 (-83.8%), from €3,584 to €582
- Other operating charges -€1,827
down €1,827 (-80.8%), from €2,261 to €434
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 | €405,587 | €259,324 | -€146,263 | -36.1% |
| Fixed assets | 21/28 | €749 | €1,782 | +€1,033 | +138% |
| Tangible fixed assets | 22/27 | - | €1,032 | +€1,032 | |
| Furniture and vehicles | 24 | - | €1,032 | +€1,032 | |
| Financial fixed assets | 28 | €749 | €749 | +€0 | 0.0% |
| Current assets | 29/58 | €404,838 | €257,543 | -€147,295 | -36.4% |
| Stocks and contracts in progress | 3 | €312,328 | €83,281 | -€229,047 | -73.3% |
| Stocks | 30/36 | €312,328 | €83,281 | -€229,047 | -73.3% |
| Amounts receivable within one year | 40/41 | €53,885 | €59,178 | +€5,293 | +9.8% |
| Other amounts receivable | 41 | €53,885 | €59,178 | +€5,293 | +9.8% |
| Current investments | 50/53 | €35,236 | €107,349 | +€72,113 | +205% |
| Cash at bank and in hand | 54/58 | €737 | €1,606 | +€869 | +118% |
| Deferred charges and accrued income | 490/1 | €2,652 | €6,129 | +€3,477 | +131% |
| Total equity and liabilities | 10/49 | €405,587 | €259,324 | -€146,263 | -36.1% |
| Equity | 10/15 | €143,979 | €221,467 | +€77,488 | +53.8% |
| Contributions | 10/11 | €84,594 | €84,594 | -€0 | 0.0% |
| Capital | 10 | €84,594 | €84,594 | -€0 | 0.0% |
| Issued capital | 100 | €84,594 | €84,594 | -€0 | 0.0% |
| Reserves | 13 | €3,591 | €10,850 | +€7,259 | +202% |
| Non-distributable reserves | 130/1 | €1,200 | €8,459 | +€7,259 | +605% |
| Legal reserve | 130 | €1,200 | €8,459 | +€7,259 | +605% |
| Tax-exempt reserves | 132 | €2,391 | €2,391 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | €55,794 | €126,023 | +€70,229 | +126% |
| Amounts payable | 17/49 | €261,608 | €37,858 | -€223,750 | -85.5% |
| Amounts payable after more than one year | 17 | €240,000 | - | -€240,000 | |
| Financial debts | 170/4 | €240,000 | - | -€240,000 | |
| Amounts payable within one year | 42/48 | €21,608 | €37,858 | +€16,250 | +75.2% |
| Trade debts | 44 | €21,608 | €14,874 | -€6,734 | -31.2% |
| Suppliers | 440/4 | €21,608 | €14,874 | -€6,734 | -31.2% |
| Taxes, remuneration and social security | 45 | - | €22,983 | +€22,983 | |
| Taxes | 450/3 | - | €22,983 | +€22,983 | |
| Non-recurring operating income | 76A | - | €4,434 | +€4,434 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €206 | +€206 | |
| Other operating charges | 640/8 | €2,261 | €434 | -€1,827 | -80.8% |
| Gross operating margin | 9900 | -€22,442 | €102,023 | +€124,465 | |
| Operating profit (loss) | 9901 | -€24,703 | €101,383 | +€126,086 | |
| Financial income | 75/76B | €3,584 | €582 | -€3,002 | -83.8% |
| Recurring financial income | 75 | €3,584 | €582 | -€3,002 | -83.8% |
| Financial charges | 65/66B | €1,640 | €1,319 | -€321 | -19.6% |
| Recurring financial charges | 65 | €1,640 | €1,319 | -€321 | -19.6% |
| Profit (loss) for the period before taxes | 9903 | -€22,759 | €100,646 | +€123,405 | |
| Income taxes | 67/77 | €500 | €23,158 | +€22,658 | +4,532% |
| Profit (loss) for the period | 9904 | -€23,259 | €77,488 | +€100,747 | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,259 | €77,488 | +€100,747 |
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 30 October 2026 via checked.be.