FTR&F: what changed
Two financial 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.
FTR&F
Largest movements
- Receivables within one year +€3,462
up €3,462 (+120%), from €2,883 to €6,345
of which Trade receivables: +€3,389
- Cash +€2,416
up €2,416 (+36.5%), from €6,626 to €9,042
mainly Net result for the year (+€6,979) and Stocks and contracts (+€1,635)
- Stocks and contracts -€1,635
down €1,635 (-2.4%), from €69,000 to €67,365
- Profit (loss) carried forward +€6,979
up €6,979 (+12.9%), from €54,155 to €61,134
- Other debts -€2,848
down €2,848 (-26.8%), from €10,629 to €7,781
- Tax, wage and social debts +€970
up €970 (+39.2%), from €2,476 to €3,446
- Gross operating margin +€5,427
up €5,427 (+70.4%), from €7,713 to €13,140
- Taxes +€2,517
up €2,517 (+1,120%), from €225 to €2,742
- Other operating charges -€714
down €714 (-30.4%), from €2,350 to €1,635
- Depreciation -€133
down €133 (-11.7%), from €1,137 to €1,004
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.
Derived cash bridge
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 | €79,737 | €84,221 | +€4,484 | +5.6% |
| Fixed assets | 21/28 | €1,228 | €1,469 | +€242 | +19.7% |
| Tangible fixed assets | 22/27 | €1,228 | €1,469 | +€242 | +19.7% |
| Land and buildings | 22 | €670 | €124 | -€546 | -81.5% |
| Plant, machinery and equipment | 23 | €557 | €1,345 | +€788 | +141% |
| Current assets | 29/58 | €78,509 | €82,752 | +€4,243 | +5.4% |
| Stocks and contracts in progress | 3 | €69,000 | €67,365 | -€1,635 | -2.4% |
| Stocks | 30/36 | €69,000 | €67,365 | -€1,635 | -2.4% |
| Amounts receivable within one year | 40/41 | €2,883 | €6,345 | +€3,462 | +120% |
| Trade receivables | 40 | €1,864 | €5,253 | +€3,389 | +182% |
| Other amounts receivable | 41 | €1,019 | €1,092 | +€73 | +7.2% |
| Cash at bank and in hand | 54/58 | €6,626 | €9,042 | +€2,416 | +36.5% |
| Total equity and liabilities | 10/49 | €79,737 | €84,221 | +€4,484 | +5.6% |
| Equity | 10/15 | €66,015 | €72,994 | +€6,979 | +10.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,155 | €61,134 | +€6,979 | +12.9% |
| Amounts payable | 17/49 | €13,722 | €11,227 | -€2,495 | -18.2% |
| Amounts payable within one year | 42/48 | €13,722 | €11,227 | -€2,495 | -18.2% |
| Trade debts | 44 | €617 | - | -€617 | |
| Suppliers | 440/4 | €617 | - | -€617 | |
| Taxes, remuneration and social security | 45 | €2,476 | €3,446 | +€970 | +39.2% |
| Taxes | 450/3 | €2,476 | €3,446 | +€970 | +39.2% |
| Other amounts payable | 47/48 | €10,629 | €7,781 | -€2,848 | -26.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,137 | €1,004 | -€133 | -11.7% |
| Other operating charges | 640/8 | €2,350 | €1,635 | -€714 | -30.4% |
| Gross operating margin | 9900 | €7,713 | €13,140 | +€5,427 | +70.4% |
| Operating profit (loss) | 9901 | €4,226 | €10,500 | +€6,274 | +148% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €886 | €779 | -€106 | -12.0% |
| Recurring financial charges | 65 | €886 | €779 | -€106 | -12.0% |
| Profit (loss) for the period before taxes | 9903 | €3,340 | €9,721 | +€6,381 | +191% |
| Income taxes | 67/77 | €225 | €2,742 | +€2,517 | +1,120% |
| Profit (loss) for the period | 9904 | €3,115 | €6,979 | +€3,864 | +124% |
| Profit (loss) for the period to be appropriated | 9905 | €3,115 | €6,979 | +€3,864 | +124% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.