FT MANAGEMENT: 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 MANAGEMENT
Largest movements
- Receivables within one year +€5,736
up €5,736 (+14.5%), from €39,609 to €45,345
of which Trade receivables: +€3,801
- Cash +€2,777
up €2,777 (+8.8%), from €31,451 to €34,228
mainly Other debts (+€3,107) and Net result for the year (+€2,719)
- Tangible fixed assets -€2,362
down €2,362 (-70.6%), from €3,346 to €984
- Other debts +€3,107
up €3,107 (+70.6%), from €4,400 to €7,507
- Profit (loss) carried forward +€2,719
up €2,719 (+10.8%), from €25,151 to €27,870
- Current portion of long-term debt -€1,152
no longer reported in 2025 (was €1,152)
- Tax, wage and social debts +€1,131
up €1,131 (+20.2%), from €5,602 to €6,733
- Gross operating margin -€12,337
down €12,337 (-59.2%), from €20,829 to €8,492
- Taxes -€2,453
down €2,453 (-43.4%), from €5,650 to €3,197
- Write-downs -€1,500
no longer reported in 2025 (was €1,500)
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 | €74,764 | €80,975 | +€6,211 | +8.3% |
| Fixed assets | 21/28 | €3,346 | €984 | -€2,362 | -70.6% |
| Tangible fixed assets | 22/27 | €3,346 | €984 | -€2,362 | -70.6% |
| Furniture and vehicles | 24 | €3,346 | €984 | -€2,362 | -70.6% |
| Current assets | 29/58 | €71,418 | €79,991 | +€8,573 | +12.0% |
| Amounts receivable within one year | 40/41 | €39,609 | €45,345 | +€5,736 | +14.5% |
| Trade receivables | 40 | €36,061 | €39,862 | +€3,801 | +10.5% |
| Other amounts receivable | 41 | €3,548 | €5,483 | +€1,935 | +54.5% |
| Cash at bank and in hand | 54/58 | €31,451 | €34,228 | +€2,777 | +8.8% |
| Deferred charges and accrued income | 490/1 | €358 | €418 | +€60 | +16.8% |
| Total equity and liabilities | 10/49 | €74,764 | €80,975 | +€6,211 | +8.3% |
| Equity | 10/15 | €60,791 | €63,510 | +€2,719 | +4.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €23,240 | €23,240 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,240 | €1,240 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,240 | €1,240 | = | 0.0% |
| Distributable reserves | 133 | €22,000 | €22,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,151 | €27,870 | +€2,719 | +10.8% |
| Amounts payable | 17/49 | €13,973 | €17,465 | +€3,492 | +25.0% |
| Amounts payable within one year | 42/48 | €13,973 | €17,465 | +€3,492 | +25.0% |
| Current portion of amounts payable after more than one year | 42 | €1,152 | - | -€1,152 | |
| Trade debts | 44 | €2,819 | €3,225 | +€406 | +14.4% |
| Suppliers | 440/4 | €2,819 | €3,225 | +€406 | +14.4% |
| Taxes, remuneration and social security | 45 | €5,602 | €6,733 | +€1,131 | +20.2% |
| Taxes | 450/3 | €5,602 | €6,733 | +€1,131 | +20.2% |
| Other amounts payable | 47/48 | €4,400 | €7,507 | +€3,107 | +70.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,363 | €2,362 | -€1 | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,500 | - | -€1,500 | |
| Other operating charges | 640/8 | €69 | €72 | +€3 | +4.3% |
| Gross operating margin | 9900 | €20,829 | €8,492 | -€12,337 | -59.2% |
| Operating profit (loss) | 9901 | €16,897 | €6,058 | -€10,839 | -64.1% |
| Financial income | 75/76B | €18 | - | -€18 | |
| Recurring financial income | 75 | €18 | - | -€18 | |
| Financial charges | 65/66B | €178 | €142 | -€36 | -20.2% |
| Recurring financial charges | 65 | €178 | €142 | -€36 | -20.2% |
| Profit (loss) for the period before taxes | 9903 | €16,737 | €5,916 | -€10,821 | -64.7% |
| Income taxes | 67/77 | €5,650 | €3,197 | -€2,453 | -43.4% |
| Profit (loss) for the period | 9904 | €11,087 | €2,719 | -€8,368 | -75.5% |
| Profit (loss) for the period to be appropriated | 9905 | €11,087 | €2,719 | -€8,368 | -75.5% |
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 2 October 2026 via checked.be.