FULLMARK: 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.
FULLMARK
Largest movements
- Cash -€352,213
down €352,213 (-73.3%), from €480,291 to €128,078
mainly Contributions, distributions and other (-€650,000) and Trade debts (-€215,955)
- Receivables within one year -€245,612
down €245,612 (-13.4%), from €1.8m to €1.6m
of which Trade receivables: -€230,052
- Current investments -€100,000
down €100,000 (-13.3%), from €750,000 to €650,000
- Deferred charges and accrued income -€53,136
down €53,136 (-37.0%), from €143,696 to €90,560
- Profit (loss) carried forward -€430,911
down €430,911 (-38.9%), from €1.1m to €676,564
- Trade debts -€215,955
down €215,955 (-26.3%), from €822,420 to €606,465
- Tax, wage and social debts -€59,278
down €59,278 (-32.4%), from €182,679 to €123,401
of which Taxes: -€63,190
- Accrued charges and deferred income -€36,232
down €36,232 (-39.7%), from €91,243 to €55,011
- Gross operating margin -€607,027
down €607,027 (-33.9%), from €1.8m to €1.2m
- Taxes -€138,476
down €138,476 (-80.7%), from €171,551 to €33,075
- Staff costs -€40,836
down €40,836 (-4.1%), from €985,864 to €945,028
- Write-downs -€34,411
down €34,411, from €16,486 to -€17,925
- Other operating charges +€18,517
up €18,517 (+179.5%), from €10,318 to €28,835
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 | €3,270,805 | €2,512,420 | -€758,385 | -23.2% |
| Fixed assets | 21/28 | €36,711 | €29,288 | -€7,424 | -20.2% |
| Tangible fixed assets | 22/27 | €33,492 | €26,069 | -€7,424 | -22.2% |
| Plant, machinery and equipment | 23 | €2,737 | €2,879 | +€143 | +5.2% |
| Furniture and vehicles | 24 | €30,756 | €23,189 | -€7,566 | -24.6% |
| Financial fixed assets | 28 | €3,219 | €3,219 | = | 0.0% |
| Current assets | 29/58 | €3,234,094 | €2,483,132 | -€750,961 | -23.2% |
| Stocks and contracts in progress | 3 | €20,625 | €20,625 | = | 0.0% |
| Stocks | 30/36 | €20,625 | €20,625 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,839,482 | €1,593,870 | -€245,612 | -13.4% |
| Trade receivables | 40 | €1,263,984 | €1,033,932 | -€230,052 | -18.2% |
| Other amounts receivable | 41 | €575,498 | €559,938 | -€15,560 | -2.7% |
| Current investments | 50/53 | €750,000 | €650,000 | -€100,000 | -13.3% |
| Cash at bank and in hand | 54/58 | €480,291 | €128,078 | -€352,213 | -73.3% |
| Deferred charges and accrued income | 490/1 | €143,696 | €90,560 | -€53,136 | -37.0% |
| Total equity and liabilities | 10/49 | €3,270,805 | €2,512,420 | -€758,385 | -23.2% |
| Equity | 10/15 | €1,416,610 | €985,700 | -€430,911 | -30.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €247,136 | €247,136 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €240,936 | €240,936 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,107,475 | €676,564 | -€430,911 | -38.9% |
| Amounts payable | 17/49 | €1,854,195 | €1,526,721 | -€327,474 | -17.7% |
| Amounts payable within one year | 42/48 | €1,762,952 | €1,471,710 | -€291,242 | -16.5% |
| Trade debts | 44 | €822,420 | €606,465 | -€215,955 | -26.3% |
| Suppliers | 440/4 | €822,420 | €606,465 | -€215,955 | -26.3% |
| Advances received on contracts in progress | 46 | €119,126 | €91,844 | -€27,282 | -22.9% |
| Taxes, remuneration and social security | 45 | €182,679 | €123,401 | -€59,278 | -32.4% |
| Taxes | 450/3 | €78,098 | €14,908 | -€63,190 | -80.9% |
| Remuneration and social security | 454/9 | €104,581 | €108,492 | +€3,912 | +3.7% |
| Other amounts payable | 47/48 | €638,727 | €650,000 | +€11,273 | +1.8% |
| Accrued charges and deferred income | 492/3 | €91,243 | €55,011 | -€36,232 | -39.7% |
| Non-recurring operating income | 76A | €11 | €0 | -€11 | -100.0% |
| Remuneration, social security and pensions | 62 | €985,864 | €945,028 | -€40,836 | -4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,240 | €8,924 | -€317 | -3.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €16,486 | -€17,925 | -€34,411 | |
| Other operating charges | 640/8 | €10,318 | €28,835 | +€18,517 | +179.5% |
| Non-recurring operating charges | 66A | €300 | €0 | -€300 | -100.0% |
| Gross operating margin | 9900 | €1,792,451 | €1,185,423 | -€607,027 | -33.9% |
| Operating profit (loss) | 9901 | €770,242 | €220,562 | -€549,681 | -71.4% |
| Financial income | 75/76B | €40,583 | €32,967 | -€7,616 | -18.8% |
| Recurring financial income | 75 | €40,583 | €32,967 | -€7,616 | -18.8% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €547 | €1,365 | +€817 | +149.3% |
| Recurring financial charges | 65 | €547 | €1,365 | +€817 | +149.3% |
| Profit (loss) for the period before taxes | 9903 | €810,278 | €252,164 | -€558,114 | -68.9% |
| Income taxes | 67/77 | €171,551 | €33,075 | -€138,476 | -80.7% |
| Profit (loss) for the period | 9904 | €638,727 | €219,089 | -€419,638 | -65.7% |
| Profit (loss) for the period to be appropriated | 9905 | €638,727 | €219,089 | -€419,638 | -65.7% |
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 1 October 2026 via checked.be.