FULKO: 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.
FULKO
Largest movements
- Receivables within one year +€61,465
up €61,465 (+61.2%), from €100,414 to €161,879
of which Other amounts receivable: +€66,357
- Current investments -€55,097
down €55,097 (-40.2%), from €137,097 to €82,000
- Cash +€31,444
up €31,444 (+56.7%), from €55,416 to €86,860
mainly Net result for the year (+€113,857) and Current investments (+€55,097)
- Financial fixed assets +€6,000
up €6,000 (+87.3%), from €6,874 to €12,874
- Provisions +€30,693
new in 2025: €30,693
- Other debts -€8,317
down €8,317 (-33.7%), from €24,679 to €16,361
- Short-term financial debts +€6,686
up €6,686 (+400.5%), from €1,669 to €8,355
- Reserves +€5,609
up €5,609 (+2.4%), from €237,649 to €243,257
- Gross operating margin +€78,446
up €78,446 (+56.0%), from €140,008 to €218,454
- Provisions +€30,693
new in 2025: €30,693
- Taxes +€13,224
up €13,224 (+35.5%), from €37,221 to €50,445
- Financial charges +€5,340
up €5,340 (+76.4%), from €6,986 to €12,326
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €325,969 | €369,051 | +€43,082 | +13.2% |
| Fixed assets | 21/28 | €33,042 | €38,312 | +€5,270 | +15.9% |
| Tangible fixed assets | 22/27 | €26,168 | €25,438 | -€730 | -2.8% |
| Furniture and vehicles | 24 | €17,151 | €18,027 | +€875 | +5.1% |
| Other tangible fixed assets | 26 | €9,017 | €7,411 | -€1,606 | -17.8% |
| Financial fixed assets | 28 | €6,874 | €12,874 | +€6,000 | +87.3% |
| Current assets | 29/58 | €292,927 | €330,739 | +€37,812 | +12.9% |
| Amounts receivable within one year | 40/41 | €100,414 | €161,879 | +€61,465 | +61.2% |
| Trade receivables | 40 | €48,251 | €43,359 | -€4,892 | -10.1% |
| Other amounts receivable | 41 | €52,163 | €118,520 | +€66,357 | +127.2% |
| Current investments | 50/53 | €137,097 | €82,000 | -€55,097 | -40.2% |
| Cash at bank and in hand | 54/58 | €55,416 | €86,860 | +€31,444 | +56.7% |
| Total equity and liabilities | 10/49 | €325,969 | €369,051 | +€43,082 | +13.2% |
| Equity | 10/15 | €270,370 | €275,979 | +€5,609 | +2.1% |
| Contributions | 10/11 | €12,140 | €12,140 | = | 0.0% |
| Reserves | 13 | €237,649 | €243,257 | +€5,609 | +2.4% |
| Distributable reserves | 133 | €237,649 | €243,257 | +€5,609 | +2.4% |
| Profit (loss) carried forward | 14 | €20,582 | €20,582 | -€0 | 0.0% |
| Provisions and deferred taxes | 16 | - | €30,693 | +€30,693 | |
| Provisions for liabilities and charges | 160/5 | - | €30,693 | +€30,693 | |
| Other liabilities and charges | 164/5 | - | €30,693 | +€30,693 | |
| Amounts payable | 17/49 | €55,599 | €62,379 | +€6,780 | +12.2% |
| Amounts payable within one year | 42/48 | €55,599 | €59,482 | +€3,883 | +7.0% |
| Financial debts | 43 | €1,669 | €8,355 | +€6,686 | +400.5% |
| Credit institutions | 430/8 | €1,669 | €8,355 | +€6,686 | +400.5% |
| Trade debts | 44 | €2,519 | €5,914 | +€3,396 | +134.8% |
| Suppliers | 440/4 | €2,519 | €5,914 | +€3,396 | +134.8% |
| Taxes, remuneration and social security | 45 | €26,732 | €28,851 | +€2,119 | +7.9% |
| Taxes | 450/3 | €26,732 | €28,851 | +€2,119 | +7.9% |
| Other amounts payable | 47/48 | €24,679 | €16,361 | -€8,317 | -33.7% |
| Accrued charges and deferred income | 492/3 | - | €2,897 | +€2,897 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,619 | €10,200 | +€581 | +6.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €30,693 | +€30,693 | |
| Other operating charges | 640/8 | €1,987 | €2,070 | +€83 | +4.2% |
| Non-recurring operating charges | 66A | €0 | - | -€0 | |
| Gross operating margin | 9900 | €140,008 | €218,454 | +€78,446 | +56.0% |
| Operating profit (loss) | 9901 | €128,401 | €175,490 | +€47,089 | +36.7% |
| Financial income | 75/76B | €1,697 | €1,138 | -€559 | -32.9% |
| Recurring financial income | 75 | €1,697 | €1,138 | -€559 | -32.9% |
| Financial charges | 65/66B | €6,986 | €12,326 | +€5,340 | +76.4% |
| Recurring financial charges | 65 | €6,986 | €12,326 | +€5,340 | +76.4% |
| Profit (loss) for the period before taxes | 9903 | €123,112 | €164,302 | +€41,191 | +33.5% |
| Income taxes | 67/77 | €37,221 | €50,445 | +€13,224 | +35.5% |
| Profit (loss) for the period | 9904 | €85,891 | €113,857 | +€27,967 | +32.6% |
| Profit (loss) for the period to be appropriated | 9905 | €85,891 | €113,857 | +€27,967 | +32.6% |
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 30 September 2026 via checked.be.