FTLEX: 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.
FTLEX
Largest movements
- Cash +€64,344
up €64,344 (+2836.7%), from €2,268 to €66,613
mainly Net result for the year (+€74,065) and Debts after one year (+€35,205)
- Intangible fixed assets -€18,750
down €18,750 (-12.6%), from €148,617 to €129,867
- Receivables within one year -€4,990
down €4,990 (-83.3%), from €5,990 to €1,000
- Tangible fixed assets +€2,045
up €2,045 (+83.3%), from €2,454 to €4,499
- Other debts -€84,139
down €84,139 (-55.2%), from €152,522 to €68,383
- Profit (loss) carried forward +€74,065
up €74,065, from -€1,816 to €72,249
- Debts after one year +€35,205
new in 2025: €35,205
- Current portion of long-term debt +€10,390
new in 2025: €10,390
- Tax, wage and social debts +€8,184
up €8,184 (+290.9%), from €2,813 to €10,997
of which Taxes: +€10,494
- Gross operating margin +€123,436
up €123,436, from -€387 to €123,048
- Taxes +€26,948
new in 2025: €26,948
- Depreciation +€18,200
up €18,200 (+1273.4%), from €1,429 to €19,630
- Financial charges +€1,724
new in 2025: €1,724
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 | €159,328 | €203,562 | +€44,234 | +27.8% |
| Fixed assets | 21/28 | €151,071 | €134,366 | -€16,705 | -11.1% |
| Intangible fixed assets | 21 | €148,617 | €129,867 | -€18,750 | -12.6% |
| Tangible fixed assets | 22/27 | €2,454 | €4,499 | +€2,045 | +83.3% |
| Furniture and vehicles | 24 | €2,454 | €4,499 | +€2,045 | +83.3% |
| Current assets | 29/58 | €8,258 | €69,197 | +€60,939 | +738.0% |
| Amounts receivable within one year | 40/41 | €5,990 | €1,000 | -€4,990 | -83.3% |
| Trade receivables | 40 | €5,990 | €1,000 | -€4,990 | -83.3% |
| Current investments | 50/53 | - | €1,471 | +€1,471 | |
| Cash at bank and in hand | 54/58 | €2,268 | €66,613 | +€64,344 | +2836.7% |
| Deferred charges and accrued income | 490/1 | - | €113 | +€113 | |
| Total equity and liabilities | 10/49 | €159,328 | €203,562 | +€44,234 | +27.8% |
| Equity | 10/15 | €2,184 | €76,249 | +€74,065 | +3391.9% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,816 | €72,249 | +€74,065 | |
| Amounts payable | 17/49 | €157,145 | €127,314 | -€29,831 | -19.0% |
| Amounts payable after more than one year | 17 | - | €35,205 | +€35,205 | |
| Financial debts | 170/4 | - | €35,205 | +€35,205 | |
| Amounts payable within one year | 42/48 | €157,057 | €91,686 | -€65,371 | -41.6% |
| Current portion of amounts payable after more than one year | 42 | - | €10,390 | +€10,390 | |
| Trade debts | 44 | €1,722 | €1,916 | +€194 | +11.3% |
| Suppliers | 440/4 | €1,722 | €1,916 | +€194 | +11.3% |
| Taxes, remuneration and social security | 45 | €2,813 | €10,997 | +€8,184 | +290.9% |
| Taxes | 450/3 | €503 | €10,997 | +€10,494 | +2086.3% |
| Remuneration and social security | 454/9 | €2,310 | - | -€2,310 | |
| Other amounts payable | 47/48 | €152,522 | €68,383 | -€84,139 | -55.2% |
| Accrued charges and deferred income | 492/3 | €88 | €423 | +€335 | +379.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,429 | €19,630 | +€18,200 | +1273.4% |
| Other operating charges | 640/8 | - | €787 | +€787 | |
| Gross operating margin | 9900 | -€387 | €123,048 | +€123,436 | |
| Operating profit (loss) | 9901 | -€1,816 | €102,632 | +€104,448 | |
| Financial income | 75/76B | - | €105 | +€105 | |
| Recurring financial income | 75 | - | €105 | +€105 | |
| Financial charges | 65/66B | - | €1,724 | +€1,724 | |
| Recurring financial charges | 65 | - | €1,724 | +€1,724 | |
| Profit (loss) for the period before taxes | 9903 | -€1,816 | €101,013 | +€102,829 | |
| Income taxes | 67/77 | - | €26,948 | +€26,948 | |
| Profit (loss) for the period | 9904 | -€1,816 | €74,065 | +€75,882 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,816 | €74,065 | +€75,882 |
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.