FUNAMBULE: 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.
FUNAMBULE
Largest movements
- Current investments +€100,000
new in 2025: €100,000
- Cash -€84,385
down €84,385 (-5.6%), from €1.5m to €1.4m
mainly Contributions, distributions and other (-€117,427) and Current investments (-€100,000)
- Tangible fixed assets -€64,300
down €64,300 (-11.7%), from €550,297 to €485,997
of which Plant, machinery and equipment: -€42,989
- Intangible fixed assets -€26,418
down €26,418 (-17.1%), from €154,061 to €127,643
- Debts after one year -€72,124
down €72,124 (-38.1%), from €189,233 to €117,109
- Reserves +€56,787
up €56,787 (+7.2%), from €793,790 to €850,578
of which Distributable reserves: +€56,787
- Other debts -€31,036
down €31,036 (-21.8%), from €142,591 to €111,555
- Trade debts -€29,775
down €29,775 (-18.4%), from €162,169 to €132,394
- Staff costs +€109,410
up €109,410 (+15.2%), from €718,612 to €828,022
- Gross operating margin -€68,882
down €68,882 (-5.2%), from €1.3m to €1.2m
- Taxes -€54,922
down €54,922 (-41.5%), from €132,311 to €77,389
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 | €2,382,400 | €2,331,705 | -€50,696 | -2.1% |
| Fixed assets | 21/28 | €705,700 | €614,982 | -€90,718 | -12.9% |
| Intangible fixed assets | 21 | €154,061 | €127,643 | -€26,418 | -17.1% |
| Tangible fixed assets | 22/27 | €550,297 | €485,997 | -€64,300 | -11.7% |
| Land and buildings | 22 | €230,252 | €207,495 | -€22,758 | -9.9% |
| Plant, machinery and equipment | 23 | €320,044 | €277,055 | -€42,989 | -13.4% |
| Furniture and vehicles | 24 | - | €1,447 | +€1,447 | |
| Financial fixed assets | 28 | €1,342 | €1,342 | = | 0.0% |
| Current assets | 29/58 | €1,676,700 | €1,716,723 | +€40,022 | +2.4% |
| Stocks and contracts in progress | 3 | €14,500 | €15,500 | +€1,000 | +6.9% |
| Stocks | 30/36 | €14,500 | €15,500 | +€1,000 | +6.9% |
| Amounts receivable within one year | 40/41 | €120,395 | €143,258 | +€22,863 | +19.0% |
| Trade receivables | 40 | €17,223 | €13,322 | -€3,901 | -22.7% |
| Other amounts receivable | 41 | €103,172 | €129,936 | +€26,765 | +25.9% |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €1,519,164 | €1,434,779 | -€84,385 | -5.6% |
| Deferred charges and accrued income | 490/1 | €22,642 | €23,186 | +€544 | +2.4% |
| Total equity and liabilities | 10/49 | €2,382,400 | €2,331,705 | -€50,696 | -2.1% |
| Equity | 10/15 | €1,656,130 | €1,712,917 | +€56,787 | +3.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €793,790 | €850,578 | +€56,787 | +7.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €791,930 | €848,718 | +€56,787 | +7.2% |
| Profit (loss) carried forward | 14 | €843,739 | €843,739 | = | 0.0% |
| Amounts payable | 17/49 | €726,270 | €618,788 | -€107,483 | -14.8% |
| Amounts payable after more than one year | 17 | €189,233 | €117,109 | -€72,124 | -38.1% |
| Financial debts | 170/4 | €189,233 | €117,109 | -€72,124 | -38.1% |
| Amounts payable within one year | 42/48 | €528,618 | €495,302 | -€33,316 | -6.3% |
| Current portion of amounts payable after more than one year | 42 | €93,311 | €105,760 | +€12,449 | +13.3% |
| Trade debts | 44 | €162,169 | €132,394 | -€29,775 | -18.4% |
| Suppliers | 440/4 | €162,169 | €132,394 | -€29,775 | -18.4% |
| Taxes, remuneration and social security | 45 | €130,546 | €145,592 | +€15,046 | +11.5% |
| Taxes | 450/3 | €51,481 | €55,566 | +€4,084 | +7.9% |
| Remuneration and social security | 454/9 | €79,065 | €90,027 | +€10,962 | +13.9% |
| Other amounts payable | 47/48 | €142,591 | €111,555 | -€31,036 | -21.8% |
| Accrued charges and deferred income | 492/3 | €8,420 | €6,376 | -€2,044 | -24.3% |
| Remuneration, social security and pensions | 62 | €718,612 | €828,022 | +€109,410 | +15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €131,582 | €131,287 | -€295 | -0.2% |
| Other operating charges | 640/8 | €11,353 | €6,693 | -€4,659 | -41.0% |
| Gross operating margin | 9900 | €1,313,193 | €1,244,311 | -€68,882 | -5.2% |
| Operating profit (loss) | 9901 | €451,646 | €278,308 | -€173,338 | -38.4% |
| Financial income | 75/76B | €8,696 | €6,066 | -€2,629 | -30.2% |
| Recurring financial income | 75 | €8,696 | €6,066 | -€2,629 | -30.2% |
| Financial charges | 65/66B | €33,288 | €32,772 | -€516 | -1.6% |
| Recurring financial charges | 65 | €33,288 | €32,772 | -€516 | -1.6% |
| Profit (loss) for the period before taxes | 9903 | €427,054 | €251,603 | -€175,451 | -41.1% |
| Income taxes | 67/77 | €132,311 | €77,389 | -€54,922 | -41.5% |
| Profit (loss) for the period | 9904 | €294,743 | €174,214 | -€120,529 | -40.9% |
| Profit (loss) for the period to be appropriated | 9905 | €294,743 | €174,214 | -€120,529 | -40.9% |
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 29 September 2026 via checked.be.