FTPROJECTS: what changed
FTPROJECTS
Largest movements
- Tangible fixed assets -€7,763
down €7,763 (-20.4%), from €38,024 to €30,261
of which Furniture and vehicles: -€6,108
- Cash +€5,207
up €5,207 (+49.8%), from €10,457 to €15,665
mainly Net result for the year (+€12,615) and Depreciation (+€10,158)
- Receivables within one year -€1,042
down €1,042 (-24.6%), from €4,234 to €3,193
of which Trade receivables: -€1,400
- Deferred charges and accrued income +€734
up €734 (+66.7%), from €1,102 to €1,836
- Debts after one year -€16,383
down €16,383 (-100%), from €16,383 to €0
- Reserves +€11,782
up €11,782 (+59.3%), from €19,852 to €31,634
- Other debts +€1,333
new in 2025: €1,333
- Trade debts +€1,230
up €1,230 (+125%), from €984 to €2,214
- Tax, wage and social debts -€970
down €970 (-41.6%), from €2,330 to €1,360
- Financial charges -€1,486
down €1,486 (-70.4%), from €2,111 to €625
- Depreciation +€990
up €990 (+10.8%), from €9,169 to €10,158
- Other operating charges +€807
up €807 (+124%), from €651 to €1,458
- Financial income +€644
up €644 (+6,517%), from €10 to €654
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €61,190 | €58,182 | -€3,008 | -4.9% |
| Fixed assets | 21/28 | €41,634 | €33,871 | -€7,763 | -18.6% |
| Tangible fixed assets | 22/27 | €38,024 | €30,261 | -€7,763 | -20.4% |
| Plant, machinery and equipment | 23 | €10,846 | €10,205 | -€641 | -5.9% |
| Furniture and vehicles | 24 | €19,500 | €13,391 | -€6,108 | -31.3% |
| Other tangible fixed assets | 26 | €7,678 | €6,664 | -€1,014 | -13.2% |
| Financial fixed assets | 28 | €3,610 | €3,610 | = | 0.0% |
| Current assets | 29/58 | €19,556 | €24,311 | +€4,755 | +24.3% |
| Stocks and contracts in progress | 3 | €3,763 | €3,618 | -€145 | -3.8% |
| Stocks | 30/36 | €3,763 | €3,618 | -€145 | -3.8% |
| Amounts receivable within one year | 40/41 | €4,234 | €3,193 | -€1,042 | -24.6% |
| Trade receivables | 40 | €3,775 | €2,375 | -€1,400 | -37.1% |
| Other amounts receivable | 41 | €459 | €818 | +€358 | +78.0% |
| Cash at bank and in hand | 54/58 | €10,457 | €15,665 | +€5,207 | +49.8% |
| Deferred charges and accrued income | 490/1 | €1,102 | €1,836 | +€734 | +66.7% |
| Total equity and liabilities | 10/49 | €61,190 | €58,182 | -€3,008 | -4.9% |
| Equity | 10/15 | €38,852 | €50,634 | +€11,782 | +30.3% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €19,852 | €31,634 | +€11,782 | +59.3% |
| Distributable reserves | 133 | €19,852 | €31,634 | +€11,782 | +59.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €22,338 | €7,548 | -€14,790 | -66.2% |
| Amounts payable after more than one year | 17 | €16,383 | €0 | -€16,383 | -100% |
| Other amounts payable | 178/9 | €16,383 | €0 | -€16,383 | -100% |
| Amounts payable within one year | 42/48 | €3,315 | €4,908 | +€1,593 | +48.1% |
| Trade debts | 44 | €984 | €2,214 | +€1,230 | +125% |
| Suppliers | 440/4 | €984 | €2,214 | +€1,230 | +125% |
| Taxes, remuneration and social security | 45 | €2,330 | €1,360 | -€970 | -41.6% |
| Taxes | 450/3 | €2,330 | €1,360 | -€970 | -41.6% |
| Other amounts payable | 47/48 | - | €1,333 | +€1,333 | |
| Accrued charges and deferred income | 492/3 | €2,640 | €2,640 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,169 | €10,158 | +€990 | +10.8% |
| Other operating charges | 640/8 | €651 | €1,458 | +€807 | +124% |
| Gross operating margin | 9900 | €29,084 | €29,057 | -€27 | -0.1% |
| Operating profit (loss) | 9901 | €19,264 | €17,441 | -€1,824 | -9.5% |
| Financial income | 75/76B | €10 | €654 | +€644 | +6,517% |
| Recurring financial income | 75 | €10 | €654 | +€644 | +6,517% |
| Financial charges | 65/66B | €2,111 | €625 | -€1,486 | -70.4% |
| Recurring financial charges | 65 | €2,111 | €625 | -€1,486 | -70.4% |
| Profit (loss) for the period before taxes | 9903 | €17,163 | €17,470 | +€307 | +1.8% |
| Income taxes | 67/77 | €4,779 | €4,855 | +€76 | +1.6% |
| Profit (loss) for the period | 9904 | €12,384 | €12,615 | +€231 | +1.9% |
| Profit (loss) for the period to be appropriated | 9905 | €12,384 | €12,615 | +€231 | +1.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.