FUNDA-C: 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.
FUNDA-C
Largest movements
- Stocks and contracts +€511,663
up €511,663 (+23.5%), from €2.2m to €2.7m
- Cash +€96,481
up €96,481 (+468.0%), from €20,615 to €117,096
mainly Short-term financial debts (+€500,000) and Advances received (+€78,297)
- Short-term financial debts +€500,000
up €500,000 (+285.7%), from €175,000 to €675,000
- Advances received +€78,297
new in 2025: €78,297
- Reserves +€35,173
up €35,173 (+9.4%), from €375,168 to €410,341
- Financial charges -€22,681
down €22,681 (-21.2%), from €107,132 to €84,452
- Gross operating margin -€13,685
down €13,685 (-9.4%), from €146,293 to €132,608
- Taxes +€2,231
up €2,231 (+23.5%), from €9,493 to €11,724
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 | €2,214,908 | €2,825,798 | +€610,890 | +27.6% |
| Current assets | 29/58 | €2,214,908 | €2,825,798 | +€610,890 | +27.6% |
| Stocks and contracts in progress | 3 | €2,178,193 | €2,689,857 | +€511,663 | +23.5% |
| Stocks | 30/36 | €2,178,193 | €2,689,857 | +€511,663 | +23.5% |
| Amounts receivable within one year | 40/41 | €16,100 | €18,846 | +€2,746 | +17.1% |
| Other amounts receivable | 41 | €16,100 | €18,846 | +€2,746 | +17.1% |
| Cash at bank and in hand | 54/58 | €20,615 | €117,096 | +€96,481 | +468.0% |
| Total equity and liabilities | 10/49 | €2,214,908 | €2,825,798 | +€610,890 | +27.6% |
| Equity | 10/15 | €1,075,168 | €1,110,341 | +€35,173 | +3.3% |
| Contributions | 10/11 | €700,000 | €700,000 | = | 0.0% |
| Reserves | 13 | €375,168 | €410,341 | +€35,173 | +9.4% |
| Distributable reserves | 133 | €375,168 | €410,341 | +€35,173 | +9.4% |
| Amounts payable | 17/49 | €1,139,740 | €1,715,457 | +€575,717 | +50.5% |
| Amounts payable within one year | 42/48 | €1,139,428 | €1,712,840 | +€573,412 | +50.3% |
| Financial debts | 43 | €175,000 | €675,000 | +€500,000 | +285.7% |
| Credit institutions | 430/8 | €175,000 | €675,000 | +€500,000 | +285.7% |
| Trade debts | 44 | - | €721 | +€721 | |
| Suppliers | 440/4 | - | €721 | +€721 | |
| Advances received on contracts in progress | 46 | - | €78,297 | +€78,297 | |
| Other amounts payable | 47/48 | €964,428 | €958,821 | -€5,607 | -0.6% |
| Accrued charges and deferred income | 492/3 | €312 | €2,617 | +€2,305 | +737.9% |
| Other operating charges | 640/8 | €1,805 | €1,436 | -€369 | -20.5% |
| Gross operating margin | 9900 | €146,293 | €132,608 | -€13,685 | -9.4% |
| Operating profit (loss) | 9901 | €144,488 | €131,173 | -€13,316 | -9.2% |
| Financial income | 75/76B | €618 | €177 | -€441 | -71.3% |
| Recurring financial income | 75 | €618 | €177 | -€441 | -71.3% |
| Financial charges | 65/66B | €107,132 | €84,452 | -€22,681 | -21.2% |
| Recurring financial charges | 65 | €107,132 | €84,452 | -€22,681 | -21.2% |
| Profit (loss) for the period before taxes | 9903 | €37,974 | €46,898 | +€8,924 | +23.5% |
| Income taxes | 67/77 | €9,493 | €11,724 | +€2,231 | +23.5% |
| Profit (loss) for the period | 9904 | €28,480 | €35,173 | +€6,693 | +23.5% |
| Profit (loss) for the period to be appropriated | 9905 | €28,480 | €35,173 | +€6,693 | +23.5% |
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 9 October 2026 via checked.be.