FUNDADOR: what changed
Two financial 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.
FUNDADOR
Largest movements
- Receivables within one year +€28,682
up €28,682 (+5.6%), from €514,934 to €543,616
- Cash -€16,350
down €16,350 (-7.1%), from €231,893 to €215,542
mainly Receivables within one year (-€28,682) and Current portion of long-term debt (-€3,473)
- Tangible fixed assets -€16,037
down €16,037 (-4.7%), from €340,454 to €324,417
of which Land and buildings: -€16,037
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€159,598
down €159,598, from €155,718 to -€3,880
- Taxes -€39,668
down €39,668 (-84.6%), from €46,872 to €7,203
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.
Derived cash bridge
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 | €1,087,679 | €1,083,994 | -€3,685 | -0.3% |
| Fixed assets | 21/28 | €340,454 | €324,417 | -€16,037 | -4.7% |
| Tangible fixed assets | 22/27 | €340,454 | €324,417 | -€16,037 | -4.7% |
| Land and buildings | 22 | €339,229 | €323,193 | -€16,037 | -4.7% |
| Furniture and vehicles | 24 | €1,225 | €1,225 | = | 0.0% |
| Current assets | 29/58 | €747,225 | €759,577 | +€12,351 | +1.7% |
| Amounts receivable within one year | 40/41 | €514,934 | €543,616 | +€28,682 | +5.6% |
| Other amounts receivable | 41 | €514,934 | €543,616 | +€28,682 | +5.6% |
| Cash at bank and in hand | 54/58 | €231,893 | €215,542 | -€16,350 | -7.1% |
| Deferred charges and accrued income | 490/1 | €398 | €418 | +€20 | +5.0% |
| Total equity and liabilities | 10/49 | €1,087,679 | €1,083,994 | -€3,685 | -0.3% |
| Equity | 10/15 | €1,013,691 | €1,015,882 | +€2,191 | +0.2% |
| 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 | €951,691 | €953,882 | +€2,191 | +0.2% |
| Non-distributable reserves | 130/1 | €13,429 | €13,429 | = | 0.0% |
| Legal reserve | 130 | €13,429 | €13,429 | = | 0.0% |
| Tax-exempt reserves | 132 | €185,823 | €176,875 | -€8,947 | -4.8% |
| Distributable reserves | 133 | €752,439 | €763,577 | +€11,138 | +1.5% |
| Provisions and deferred taxes | 16 | €61,941 | €58,958 | -€2,982 | -4.8% |
| Deferred taxes | 168 | €61,941 | €58,958 | -€2,982 | -4.8% |
| Amounts payable | 17/49 | €12,048 | €9,154 | -€2,894 | -24.0% |
| Amounts payable after more than one year | 17 | €2,289 | €2,289 | = | 0.0% |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €2,289 | €2,289 | = | 0.0% |
| Amounts payable within one year | 42/48 | €9,024 | €6,365 | -€2,659 | -29.5% |
| Current portion of amounts payable after more than one year | 42 | €3,473 | €0 | -€3,473 | -100% |
| Trade debts | 44 | €981 | €0 | -€981 | -100% |
| Suppliers | 440/4 | €981 | €0 | -€981 | -100% |
| Taxes, remuneration and social security | 45 | €4,569 | €6,365 | +€1,796 | +39.3% |
| Taxes | 450/3 | €4,569 | €6,365 | +€1,796 | +39.3% |
| Accrued charges and deferred income | 492/3 | €735 | €500 | -€235 | -32.0% |
| Non-recurring operating income | 76A | €162,563 | €0 | -€162,563 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,301 | €16,037 | -€264 | -1.6% |
| Other operating charges | 640/8 | €3,678 | €3,539 | -€139 | -3.8% |
| Gross operating margin | 9900 | €155,718 | -€3,880 | -€159,598 | |
| Operating profit (loss) | 9901 | €135,739 | -€23,456 | -€159,194 | |
| Financial income | 75/76B | €31,299 | €30,039 | -€1,260 | -4.0% |
| Recurring financial income | 75 | €31,299 | €30,039 | -€1,260 | -4.0% |
| Financial charges | 65/66B | €225 | €172 | -€53 | -23.7% |
| Recurring financial charges | 65 | €225 | €172 | -€53 | -23.7% |
| Profit (loss) for the period before taxes | 9903 | €166,813 | €6,412 | -€160,401 | -96.2% |
| Transfer from deferred taxes | 780 | €2,982 | €2,982 | = | 0.0% |
| Income taxes | 67/77 | €46,872 | €7,203 | -€39,668 | -84.6% |
| Profit (loss) for the period | 9904 | €122,924 | €2,191 | -€120,733 | -98.2% |
| Transfer from tax-exempt reserves | 789 | €8,947 | €8,947 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €131,871 | €11,138 | -€120,733 | -91.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.