FTEX: 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.
FTEX
Largest movements
- Tangible fixed assets -€11,119
down €11,119 (-38.8%), from €28,689 to €17,570
- Receivables within one year -€4,824
down €4,824 (-52.1%), from €9,264 to €4,440
of which Trade receivables: -€2,725
- Cash +€2,456
up €2,456 (+54.2%), from €4,533 to €6,989
mainly Depreciation (+€14,303) and Net result for the year (+€4,880)
- Stocks and contracts +€1,500
up €1,500 (+38.5%), from €3,895 to €5,395
- Other debts -€17,881
down €17,881 (-41.4%), from €43,189 to €25,308
- Profit (loss) carried forward +€4,880
up €4,880 (+53.8%), from -€9,075 to -€4,195
- Advances received -€4,543
down €4,543 (-56.5%), from €8,043 to €3,500
- Tax, wage and social debts +€3,587
up €3,587 (+13409.1%), from €27 to €3,614
of which Taxes: +€2,387
- Trade debts +€1,971
up €1,971 (+56.4%), from €3,497 to €5,468
- Gross operating margin +€34,759
up €34,759 (+547.7%), from €6,346 to €41,106
- Staff costs +€21,000
new in 2025: €21,000
- Depreciation +€5,906
up €5,906 (+70.3%), from €8,397 to €14,303
- Financial income -€4,271
no longer reported in 2025 (was €4,271)
- Other operating charges +€496
up €496 (+420.4%), from €118 to €614
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 | €46,380 | €34,394 | -€11,987 | -25.8% |
| Fixed assets | 21/28 | €28,689 | €17,570 | -€11,119 | -38.8% |
| Tangible fixed assets | 22/27 | €28,689 | €17,570 | -€11,119 | -38.8% |
| Furniture and vehicles | 24 | €28,689 | €17,570 | -€11,119 | -38.8% |
| Current assets | 29/58 | €17,692 | €16,824 | -€868 | -4.9% |
| Stocks and contracts in progress | 3 | €3,895 | €5,395 | +€1,500 | +38.5% |
| Stocks | 30/36 | €3,895 | €5,395 | +€1,500 | +38.5% |
| Amounts receivable within one year | 40/41 | €9,264 | €4,440 | -€4,824 | -52.1% |
| Trade receivables | 40 | €7,166 | €4,440 | -€2,725 | -38.0% |
| Other amounts receivable | 41 | €2,098 | - | -€2,098 | |
| Cash at bank and in hand | 54/58 | €4,533 | €6,989 | +€2,456 | +54.2% |
| Total equity and liabilities | 10/49 | €46,380 | €34,394 | -€11,987 | -25.8% |
| Equity | 10/15 | -€8,376 | -€3,496 | +€4,880 | +58.3% |
| Contributions | 10/11 | €519 | €519 | = | 0.0% |
| Reserves | 13 | €180 | €180 | = | 0.0% |
| Non-distributable reserves | 130/1 | €180 | €180 | = | 0.0% |
| Reserves not available under the articles | 1311 | €180 | €180 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,075 | -€4,195 | +€4,880 | +53.8% |
| Amounts payable | 17/49 | €54,756 | €37,890 | -€16,866 | -30.8% |
| Amounts payable within one year | 42/48 | €54,756 | €37,890 | -€16,866 | -30.8% |
| Trade debts | 44 | €3,497 | €5,468 | +€1,971 | +56.4% |
| Suppliers | 440/4 | €3,497 | €5,468 | +€1,971 | +56.4% |
| Advances received on contracts in progress | 46 | €8,043 | €3,500 | -€4,543 | -56.5% |
| Taxes, remuneration and social security | 45 | €27 | €3,614 | +€3,587 | +13409.1% |
| Taxes | 450/3 | €27 | €2,414 | +€2,387 | +8923.1% |
| Remuneration and social security | 454/9 | - | €1,200 | +€1,200 | |
| Other amounts payable | 47/48 | €43,189 | €25,308 | -€17,881 | -41.4% |
| Remuneration, social security and pensions | 62 | - | €21,000 | +€21,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,397 | €14,303 | +€5,906 | +70.3% |
| Other operating charges | 640/8 | €118 | €614 | +€496 | +420.4% |
| Gross operating margin | 9900 | €6,346 | €41,106 | +€34,759 | +547.7% |
| Operating profit (loss) | 9901 | -€2,168 | €5,189 | +€7,357 | |
| Financial income | 75/76B | €4,271 | - | -€4,271 | |
| Recurring financial income | 75 | €4,271 | - | -€4,271 | |
| Financial charges | 65/66B | €44 | €49 | +€5 | +10.9% |
| Recurring financial charges | 65 | €44 | €49 | +€5 | +10.9% |
| Profit (loss) for the period before taxes | 9903 | €2,059 | €5,140 | +€3,082 | +149.7% |
| Income taxes | 67/77 | - | €261 | +€261 | |
| Profit (loss) for the period | 9904 | €2,059 | €4,880 | +€2,821 | +137.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,059 | €4,880 | +€2,821 | +137.0% |
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.