FTW: 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.
What changed
FTW
NACE 43.332, Laying of wooden floor and wall coverings
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€55,529
2024 · -€67,681+€123,210
Equity
€172,455
2024 · €116,925+€55,529
Cash
€41,368
2024 · €45,383-€4,015
Balance sheet total
€2.5m
2024 · €2.4m+€67,836
Largest movements
Assets
- Tangible fixed assets +€74,854
up €74,854 (+3.7%), from €2.0m to €2.1m
of which Land and buildings: +€109,770
Equity and liabilities
- Other debts -€85,243
down €85,243 (-7.6%), from €1.1m to €1.0m
- Debts after one year +€74,474
up €74,474 (+8.6%), from €868,770 to €943,243
of which Financial debts: +€122,622
- Profit (loss) carried forward +€55,529
up €55,529 (+7.7%), from -€720,565 to -€665,035
- Trade debts +€42,339
up €42,339 (+57.9%), from €73,159 to €115,498
Income statement
- Gross operating margin +€46,914
up €46,914 (+22.0%), from €213,006 to €259,920
- Other operating charges -€40,879
down €40,879 (-59.9%), from €68,243 to €27,363
- Taxes -€14,858
down €14,858 (-89.1%), from €16,667 to €1,809
- Financial charges -€13,355
down €13,355 (-24.6%), from €54,227 to €40,872
- Staff costs -€12,121
down €12,121 (-75.9%), from €15,980 to €3,859
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.
Result 2024
-€67,681
Gross operating margin
+€46,914
Staff costs
+€12,121
Depreciation
-€2,600
Other operating charges
+€40,879
Financial income
-€2,318
Financial charges
+€13,355
Taxes
+€14,858
Result 2025
€55,529
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.
From operations
+€141,347
Investment
-€205,578
Financing
+€60,216
Cash 2024
€45,383
From operations (derived)
+€141,347
Net result for the year
+€55,529
Depreciation
+€130,724
Stocks and contracts
+€18,845
Receivables within one year
-€15,599
Deferred charges and accrued income
-€243
Trade debts
+€42,339
Tax, wage and social debts
-€23,904
Other debts
-€85,243
Accrued charges and deferred income
+€18,899
Investment (derived)
-€205,578
Investment in fixed assets (net)
-€205,578
Financing
+€60,216
Debts after one year
+€74,474
Current portion of long-term debt
-€14,257
Cash 2025
€41,368
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,421,174 | €2,489,010 | +€67,836 | +2.8% |
| Fixed assets | 21/28 | €2,123,422 | €2,198,276 | +€74,854 | +3.5% |
| Tangible fixed assets | 22/27 | €2,018,039 | €2,092,893 | +€74,854 | +3.7% |
| Land and buildings | 22 | €1,613,335 | €1,723,106 | +€109,770 | +6.8% |
| Plant, machinery and equipment | 23 | €65,278 | €43,086 | -€22,192 | -34.0% |
| Furniture and vehicles | 24 | €27,601 | €18,405 | -€9,196 | -33.3% |
| Other tangible fixed assets | 26 | €311,824 | €308,296 | -€3,528 | -1.1% |
| Financial fixed assets | 28 | €105,383 | €105,383 | = | 0.0% |
| Current assets | 29/58 | €297,752 | €290,734 | -€7,018 | -2.4% |
| Stocks and contracts in progress | 3 | €22,650 | €3,805 | -€18,845 | -83.2% |
| Stocks | 30/36 | €22,650 | €3,805 | -€18,845 | -83.2% |
| Amounts receivable within one year | 40/41 | €228,764 | €244,363 | +€15,599 | +6.8% |
| Trade receivables | 40 | €223,382 | €238,758 | +€15,376 | +6.9% |
| Other amounts receivable | 41 | €5,382 | €5,605 | +€223 | +4.1% |
| Cash at bank and in hand | 54/58 | €45,383 | €41,368 | -€4,015 | -8.8% |
| Deferred charges and accrued income | 490/1 | €955 | €1,197 | +€243 | +25.4% |
| Total equity and liabilities | 10/49 | €2,421,174 | €2,489,010 | +€67,836 | +2.8% |
| Equity | 10/15 | €116,925 | €172,455 | +€55,529 | +47.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €566,040 | €566,040 | = | 0.0% |
| Reserves | 13 | €252,850 | €252,850 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €169,764 | €169,764 | = | 0.0% |
| Distributable reserves | 133 | €81,226 | €81,226 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€720,565 | -€665,035 | +€55,529 | +7.7% |
| Amounts payable | 17/49 | €2,304,249 | €2,316,555 | +€12,307 | +0.5% |
| Amounts payable after more than one year | 17 | €868,770 | €943,243 | +€74,474 | +8.6% |
| Financial debts | 170/4 | €694,770 | €817,392 | +€122,622 | +17.6% |
| Other amounts payable | 178/9 | €174,000 | €125,852 | -€48,148 | -27.7% |
| Amounts payable within one year | 42/48 | €1,435,479 | €1,354,413 | -€81,066 | -5.6% |
| Current portion of amounts payable after more than one year | 42 | €190,236 | €175,978 | -€14,257 | -7.5% |
| Trade debts | 44 | €73,159 | €115,498 | +€42,339 | +57.9% |
| Suppliers | 440/4 | €73,159 | €115,498 | +€42,339 | +57.9% |
| Taxes, remuneration and social security | 45 | €48,507 | €24,602 | -€23,904 | -49.3% |
| Taxes | 450/3 | €37,721 | €14,922 | -€22,799 | -60.4% |
| Remuneration and social security | 454/9 | €10,785 | €9,680 | -€1,105 | -10.2% |
| Other amounts payable | 47/48 | €1,123,577 | €1,038,334 | -€85,243 | -7.6% |
| Accrued charges and deferred income | 492/3 | - | €18,899 | +€18,899 | |
| Non-recurring operating income | 76A | €156,768 | €53,676 | -€103,092 | -65.8% |
| Remuneration, social security and pensions | 62 | €15,980 | €3,859 | -€12,121 | -75.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €128,124 | €130,724 | +€2,600 | +2.0% |
| Other operating charges | 640/8 | €68,243 | €27,363 | -€40,879 | -59.9% |
| Gross operating margin | 9900 | €213,006 | €259,920 | +€46,914 | +22.0% |
| Operating profit (loss) | 9901 | €659 | €97,974 | +€97,315 | +14761.7% |
| Financial income | 75/76B | €2,554 | €236 | -€2,318 | -90.8% |
| Recurring financial income | 75 | €2,554 | €236 | -€2,318 | -90.8% |
| Financial charges | 65/66B | €54,227 | €40,872 | -€13,355 | -24.6% |
| Recurring financial charges | 65 | €54,227 | €40,872 | -€13,355 | -24.6% |
| Profit (loss) for the period before taxes | 9903 | -€51,014 | €57,338 | +€108,352 | |
| Income taxes | 67/77 | €16,667 | €1,809 | -€14,858 | -89.1% |
| Profit (loss) for the period | 9904 | -€67,681 | €55,529 | +€123,210 | |
| Profit (loss) for the period to be appropriated | 9905 | -€67,681 | €55,529 | +€123,210 |
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.