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.
FTW
Largest movements
- Receivables within one year +€25,255
new in 2024: €25,255
of which Other amounts receivable: +€15,059
- Cash -€24,446
down €24,446 (-41.3%), from €59,183 to €34,737
mainly Receivables within one year (-€25,255) and Debts after one year (-€8,800)
- Tangible fixed assets +€4,062
up €4,062 (+19.0%), from €21,428 to €25,490
of which Furniture and vehicles: +€3,690
- Profit (loss) carried forward +€12,739
up €12,739 (+91.4%), from €13,936 to €26,675
- Debts after one year -€8,800
down €8,800 (-40.8%), from €21,554 to €12,754
- Trade debts -€5,037
down €5,037 (-39.5%), from €12,761 to €7,724
- Tax, wage and social debts +€4,792
up €4,792 (+26.4%), from €18,139 to €22,931
of which Taxes: +€2,689
- Current portion of long-term debt +€1,526
up €1,526 (+17.5%), from €8,743 to €10,269
- Staff costs +€19,682
up €19,682 (+11.8%), from €166,805 to €186,487
- Depreciation -€12,762
no longer reported in 2024 (was €12,762)
- Gross operating margin +€5,700
up €5,700 (+2.8%), from €200,677 to €206,377
- Taxes +€3,043
up €3,043 (+997.7%), from €305 to €3,348
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €81,681 | €86,552 | +€4,871 | +6.0% |
| Fixed assets | 21/28 | €21,628 | €25,690 | +€4,062 | +18.8% |
| Tangible fixed assets | 22/27 | €21,428 | €25,490 | +€4,062 | +19.0% |
| Land and buildings | 22 | €20,769 | €21,636 | +€867 | +4.2% |
| Plant, machinery and equipment | 23 | €495 | - | -€495 | |
| Furniture and vehicles | 24 | - | €3,690 | +€3,690 | |
| Other tangible fixed assets | 26 | €164 | €164 | -€0 | -0.2% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €60,053 | €60,862 | +€809 | +1.3% |
| Stocks and contracts in progress | 3 | €870 | €871 | +€1 | +0.1% |
| Stocks | 30/36 | €870 | €871 | +€1 | +0.1% |
| Amounts receivable within one year | 40/41 | - | €25,255 | +€25,255 | |
| Trade receivables | 40 | - | €10,197 | +€10,197 | |
| Other amounts receivable | 41 | - | €15,059 | +€15,059 | |
| Cash at bank and in hand | 54/58 | €59,183 | €34,737 | -€24,446 | -41.3% |
| Total equity and liabilities | 10/49 | €81,681 | €86,552 | +€4,871 | +6.0% |
| Equity | 10/15 | €20,136 | €32,875 | +€12,739 | +63.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,936 | €26,675 | +€12,739 | +91.4% |
| Amounts payable | 17/49 | €61,545 | €53,678 | -€7,867 | -12.8% |
| Amounts payable after more than one year | 17 | €21,554 | €12,754 | -€8,800 | -40.8% |
| Financial debts | 170/4 | €21,554 | €12,754 | -€8,800 | -40.8% |
| Amounts payable within one year | 42/48 | €39,991 | €40,924 | +€933 | +2.3% |
| Current portion of amounts payable after more than one year | 42 | €8,743 | €10,269 | +€1,526 | +17.5% |
| Trade debts | 44 | €12,761 | €7,724 | -€5,037 | -39.5% |
| Suppliers | 440/4 | €12,761 | €7,724 | -€5,037 | -39.5% |
| Taxes, remuneration and social security | 45 | €18,139 | €22,931 | +€4,792 | +26.4% |
| Taxes | 450/3 | €1,628 | €4,317 | +€2,689 | +165.2% |
| Remuneration and social security | 454/9 | €16,511 | €18,614 | +€2,103 | +12.7% |
| Other amounts payable | 47/48 | €348 | - | -€348 | |
| Non-recurring operating income | 76A | - | €2,980 | +€2,980 | |
| Remuneration, social security and pensions | 62 | €166,805 | €186,487 | +€19,682 | +11.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,762 | - | -€12,762 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€567 | -€567 | |
| Other operating charges | 640/8 | - | €239 | +€239 | |
| Non-recurring operating charges | 66A | - | €250 | +€250 | |
| Gross operating margin | 9900 | €200,677 | €206,377 | +€5,700 | +2.8% |
| Operating profit (loss) | 9901 | €21,110 | €19,969 | -€1,141 | -5.4% |
| Financial income | 75/76B | €4 | €887 | +€883 | +22062.8% |
| Recurring financial income | 75 | €4 | €887 | +€883 | +22062.8% |
| Financial charges | 65/66B | €5,873 | €4,768 | -€1,105 | -18.8% |
| Recurring financial charges | 65 | €5,873 | €4,768 | -€1,105 | -18.8% |
| Profit (loss) for the period before taxes | 9903 | €15,241 | €16,087 | +€846 | +5.6% |
| Income taxes | 67/77 | €305 | €3,348 | +€3,043 | +997.7% |
| Profit (loss) for the period | 9904 | €14,936 | €12,739 | -€2,197 | -14.7% |
| Profit (loss) for the period to be appropriated | 9905 | €14,936 | €12,739 | -€2,197 | -14.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.