FT 2011: 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.
FT 2011
Largest movements
- Tangible fixed assets +€279,198
up €279,198 (+68.7%), from €406,210 to €685,407
- Deferred charges and accrued income +€9,000
new in 2025: €9,000
- Other debts +€449,908
up €449,908 (+955.6%), from €47,080 to €496,987
- Debts after one year -€232,626
down €232,626 (-71.2%), from €326,929 to €94,303
- Profit (loss) carried forward +€67,403
up €67,403, from -€33,502 to €33,901
- Gross operating margin +€16,282
up €16,282 (+193.9%), from €8,395 to €24,677
- Depreciation +€15,524
up €15,524 (+127.4%), from €12,185 to €27,709
- Other operating charges +€2,341
new in 2025: €2,341
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 | €407,063 | €697,039 | +€289,977 | +71.2% |
| Fixed assets | 21/28 | €406,210 | €685,407 | +€279,198 | +68.7% |
| Tangible fixed assets | 22/27 | €406,210 | €685,407 | +€279,198 | +68.7% |
| Land and buildings | 22 | €406,210 | €685,407 | +€279,198 | +68.7% |
| Current assets | 29/58 | €853 | €11,632 | +€10,779 | +1263.4% |
| Cash at bank and in hand | 54/58 | €853 | €2,632 | +€1,779 | +208.5% |
| Deferred charges and accrued income | 490/1 | - | €9,000 | +€9,000 | |
| Total equity and liabilities | 10/49 | €407,063 | €697,039 | +€289,977 | +71.2% |
| Equity | 10/15 | €12,371 | €85,376 | +€73,005 | +590.2% |
| Contributions | 10/11 | €6,200 | €6,846 | +€646 | +10.4% |
| Reserves | 13 | €39,673 | €44,628 | +€4,956 | +12.5% |
| Non-distributable reserves | 130/1 | - | €96 | +€96 | |
| Reserves not available under the articles | 1311 | - | €96 | +€96 | |
| Tax-exempt reserves | 132 | €39,673 | €38,244 | -€1,429 | -3.6% |
| Distributable reserves | 133 | - | €6,289 | +€6,289 | |
| Profit (loss) carried forward | 14 | -€33,502 | €33,901 | +€67,403 | |
| Provisions and deferred taxes | 16 | €13,224 | €12,748 | -€476 | -3.6% |
| Deferred taxes | 168 | €13,224 | €12,748 | -€476 | -3.6% |
| Amounts payable | 17/49 | €381,468 | €598,916 | +€217,448 | +57.0% |
| Amounts payable after more than one year | 17 | €326,929 | €94,303 | -€232,626 | -71.2% |
| Financial debts | 170/4 | €326,929 | €94,303 | -€232,626 | -71.2% |
| Amounts payable within one year | 42/48 | €54,539 | €504,613 | +€450,074 | +825.2% |
| Current portion of amounts payable after more than one year | 42 | €7,460 | €7,626 | +€166 | +2.2% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Other amounts payable | 47/48 | €47,080 | €496,987 | +€449,908 | +955.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,185 | €27,709 | +€15,524 | +127.4% |
| Other operating charges | 640/8 | - | €2,341 | +€2,341 | |
| Gross operating margin | 9900 | €8,395 | €24,677 | +€16,282 | +193.9% |
| Operating profit (loss) | 9901 | -€3,790 | -€5,372 | -€1,582 | -41.8% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €2,571 | €2,409 | -€162 | -6.3% |
| Recurring financial charges | 65 | €2,571 | €2,409 | -€162 | -6.3% |
| Profit (loss) for the period before taxes | 9903 | -€6,361 | -€7,782 | -€1,420 | -22.3% |
| Transfer from deferred taxes | 780 | €476 | €476 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€5,885 | -€7,305 | -€1,420 | -24.1% |
| Transfer from tax-exempt reserves | 789 | €1,429 | €1,429 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,456 | -€5,876 | -€1,420 | -31.9% |
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 1 October 2026 via checked.be.