FUBAR: 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.
FUBAR
Largest movements
- Cash -€79,200
down €79,200 (-49.0%), from €161,511 to €82,311
mainly Contributions, distributions and other (-€117,647) and Current investments (-€52,000)
- Current investments +€52,000
up €52,000 (+104.0%), from €50,000 to €102,000
- Tangible fixed assets +€17,488
new in 2024: €17,488
- Reserves -€102,418
down €102,418 (-54.0%), from €189,629 to €87,212
- Other debts +€100,000
new in 2024: €100,000
- Trade debts -€6,059
down €6,059 (-60.9%), from €9,941 to €3,882
- Short-term financial debts -€2,702
no longer reported in 2024 (was €2,702)
- Gross operating margin -€22,533
down €22,533 (-38.9%), from €57,985 to €35,452
- Taxes -€5,739
down €5,739 (-24.6%), from €23,337 to €17,599
- Depreciation +€3,298
up €3,298 (+824.4%), from €400 to €3,698
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 | €215,233 | €202,298 | -€12,935 | -6.0% |
| Fixed assets | 21/28 | €449 | €17,737 | +€17,288 | +3852.4% |
| Intangible fixed assets | 21 | €449 | €249 | -€200 | -44.6% |
| Tangible fixed assets | 22/27 | - | €17,488 | +€17,488 | |
| Furniture and vehicles | 24 | - | €17,488 | +€17,488 | |
| Current assets | 29/58 | €214,785 | €184,561 | -€30,223 | -14.1% |
| Amounts receivable within one year | 40/41 | €1,750 | €250 | -€1,500 | -85.7% |
| Trade receivables | 40 | €1,500 | - | -€1,500 | |
| Other amounts receivable | 41 | €250 | €250 | = | 0.0% |
| Current investments | 50/53 | €50,000 | €102,000 | +€52,000 | +104.0% |
| Cash at bank and in hand | 54/58 | €161,511 | €82,311 | -€79,200 | -49.0% |
| Deferred charges and accrued income | 490/1 | €1,523 | - | -€1,523 | |
| Total equity and liabilities | 10/49 | €215,233 | €202,298 | -€12,935 | -6.0% |
| Equity | 10/15 | €194,629 | €92,212 | -€102,418 | -52.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €189,629 | €87,212 | -€102,418 | -54.0% |
| Distributable reserves | 133 | €189,629 | €87,212 | -€102,418 | -54.0% |
| Amounts payable | 17/49 | €20,604 | €110,086 | +€89,483 | +434.3% |
| Amounts payable within one year | 42/48 | €20,147 | €110,086 | +€89,940 | +446.4% |
| Financial debts | 43 | €2,702 | - | -€2,702 | |
| Credit institutions | 430/8 | €2,702 | - | -€2,702 | |
| Trade debts | 44 | €9,941 | €3,882 | -€6,059 | -60.9% |
| Suppliers | 440/4 | €9,941 | €3,882 | -€6,059 | -60.9% |
| Taxes, remuneration and social security | 45 | €7,504 | €6,204 | -€1,300 | -17.3% |
| Taxes | 450/3 | €7,504 | €4,204 | -€3,300 | -44.0% |
| Remuneration and social security | 454/9 | - | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | - | €100,000 | +€100,000 | |
| Accrued charges and deferred income | 492/3 | €457 | - | -€457 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €400 | €3,698 | +€3,298 | +824.4% |
| Other operating charges | 640/8 | €334 | €564 | +€229 | +68.6% |
| Gross operating margin | 9900 | €57,985 | €35,452 | -€22,533 | -38.9% |
| Operating profit (loss) | 9901 | €57,251 | €31,191 | -€26,060 | -45.5% |
| Financial income | 75/76B | €1,597 | €1,890 | +€294 | +18.4% |
| Recurring financial income | 75 | €1,597 | €1,890 | +€294 | +18.4% |
| Financial charges | 65/66B | €257 | €253 | -€4 | -1.5% |
| Recurring financial charges | 65 | €257 | €253 | -€4 | -1.5% |
| Profit (loss) for the period before taxes | 9903 | €58,591 | €32,828 | -€25,762 | -44.0% |
| Income taxes | 67/77 | €23,337 | €17,599 | -€5,739 | -24.6% |
| Profit (loss) for the period | 9904 | €35,253 | €15,229 | -€20,024 | -56.8% |
| Profit (loss) for the period to be appropriated | 9905 | €35,253 | €15,229 | -€20,024 | -56.8% |
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 29 September 2026 via checked.be.