FTF+: 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.
FTF+
Largest movements
- Tangible fixed assets -€33,171
down €33,171 (-27.4%), from €121,026 to €87,855
of which Furniture and vehicles: -€31,411
- Deferred charges and accrued income +€10,250
new in 2025: €10,250
- Cash -€7,123
down €7,123 (-66.1%), from €10,778 to €3,655
mainly Contributions, distributions and other (-€45,900) and Debts after one year (-€24,000)
- Reserves -€42,700
down €42,700 (-89.3%), from €47,836 to €5,136
of which Distributable reserves: -€42,700
- Other debts +€27,601
up €27,601 (+160.0%), from €17,251 to €44,852
- Debts after one year -€24,000
down €24,000 (-35.3%), from €67,916 to €43,916
- Trade debts +€8,570
up €8,570 (+277.8%), from €3,086 to €11,656
- Short-term financial debts +€7,517
new in 2025: €7,517
- Gross operating margin -€7,356
down €7,356 (-11.6%), from €63,449 to €56,094
- Financial charges -€3,544
down €3,544 (-63.4%), from €5,586 to €2,043
- Taxes -€1,073
down €1,073 (-7.6%), from €14,159 to €13,086
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 | €199,156 | €169,729 | -€29,428 | -14.8% |
| Fixed assets | 21/28 | €121,026 | €87,855 | -€33,171 | -27.4% |
| Tangible fixed assets | 22/27 | €121,026 | €87,855 | -€33,171 | -27.4% |
| Land and buildings | 22 | €9,833 | €8,510 | -€1,323 | -13.5% |
| Plant, machinery and equipment | 23 | €8,737 | €8,300 | -€437 | -5.0% |
| Furniture and vehicles | 24 | €102,456 | €71,045 | -€31,411 | -30.7% |
| Current assets | 29/58 | €78,131 | €81,874 | +€3,743 | +4.8% |
| Amounts receivable within one year | 40/41 | €66,146 | €66,762 | +€616 | +0.9% |
| Trade receivables | 40 | €14,880 | €16,730 | +€1,850 | +12.4% |
| Other amounts receivable | 41 | €51,266 | €50,032 | -€1,234 | -2.4% |
| Current investments | 50/53 | €1,207 | €1,207 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €10,778 | €3,655 | -€7,123 | -66.1% |
| Deferred charges and accrued income | 490/1 | - | €10,250 | +€10,250 | |
| Total equity and liabilities | 10/49 | €199,156 | €169,729 | -€29,428 | -14.8% |
| Equity | 10/15 | €54,136 | €11,436 | -€42,700 | -78.9% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €47,836 | €5,136 | -€42,700 | -89.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €45,976 | €3,276 | -€42,700 | -92.9% |
| Amounts payable | 17/49 | €145,020 | €158,293 | +€13,273 | +9.2% |
| Amounts payable after more than one year | 17 | €67,916 | €43,916 | -€24,000 | -35.3% |
| Financial debts | 170/4 | €67,916 | €43,916 | -€24,000 | -35.3% |
| Amounts payable within one year | 42/48 | €77,104 | €114,377 | +€37,273 | +48.3% |
| Current portion of amounts payable after more than one year | 42 | €22,794 | €19,367 | -€3,427 | -15.0% |
| Financial debts | 43 | - | €7,517 | +€7,517 | |
| Credit institutions | 430/8 | - | €7,517 | +€7,517 | |
| Trade debts | 44 | €3,086 | €11,656 | +€8,570 | +277.8% |
| Suppliers | 440/4 | €3,086 | €11,656 | +€8,570 | +277.8% |
| Taxes, remuneration and social security | 45 | €33,974 | €30,984 | -€2,989 | -8.8% |
| Taxes | 450/3 | €32,124 | €30,984 | -€1,139 | -3.5% |
| Remuneration and social security | 454/9 | €1,850 | - | -€1,850 | |
| Other amounts payable | 47/48 | €17,251 | €44,852 | +€27,601 | +160.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,172 | €33,171 | -€1 | 0.0% |
| Other operating charges | 640/8 | €4,165 | €4,595 | +€430 | +10.3% |
| Gross operating margin | 9900 | €63,449 | €56,094 | -€7,356 | -11.6% |
| Operating profit (loss) | 9901 | €26,113 | €18,328 | -€7,785 | -29.8% |
| Financial charges | 65/66B | €5,586 | €2,043 | -€3,544 | -63.4% |
| Recurring financial charges | 65 | €5,586 | €2,043 | -€3,544 | -63.4% |
| Profit (loss) for the period before taxes | 9903 | €20,526 | €16,285 | -€4,241 | -20.7% |
| Income taxes | 67/77 | €14,159 | €13,086 | -€1,073 | -7.6% |
| Profit (loss) for the period | 9904 | €6,367 | €3,200 | -€3,168 | -49.8% |
| Profit (loss) for the period to be appropriated | 9905 | €6,367 | €3,200 | -€3,168 | -49.8% |
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 8 October 2026 via checked.be.