FURBETTO: 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.
FURBETTO
Largest movements
- Cash +€51,745
up €51,745 (+45.6%), from €113,401 to €165,146
mainly Net result for the year (+€77,152) and Depreciation (+€30,058)
- Tangible fixed assets -€25,619
down €25,619 (-18.4%), from €139,577 to €113,958
of which Other tangible fixed assets: -€14,297
- Stocks and contracts +€16,430
up €16,430 (+52.4%), from €31,326 to €47,755
- Receivables within one year +€5,944
up €5,944 (+87.6%), from €6,787 to €12,731
of which Trade receivables: +€3,552
- Reserves +€77,152
up €77,152 (+94.3%), from €81,841 to €158,993
- Debts after one year -€24,106
down €24,106 (-20.5%), from €117,518 to €93,413
- Gross operating margin +€45,549
up €45,549 (+34.1%), from €133,601 to €179,150
- Staff costs +€36,593
up €36,593 (+360.4%), from €10,155 to €46,748
- Taxes +€4,087
up €4,087 (+24.4%), from €16,751 to €20,838
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 | €293,189 | €341,228 | +€48,039 | +16.4% |
| Formation expenses | 20 | €1,498 | €974 | -€524 | -35.0% |
| Fixed assets | 21/28 | €139,577 | €113,958 | -€25,619 | -18.4% |
| Tangible fixed assets | 22/27 | €139,577 | €113,958 | -€25,619 | -18.4% |
| Plant, machinery and equipment | 23 | €20,526 | €15,321 | -€5,205 | -25.4% |
| Furniture and vehicles | 24 | €7,735 | €1,618 | -€6,117 | -79.1% |
| Other tangible fixed assets | 26 | €111,316 | €97,019 | -€14,297 | -12.8% |
| Current assets | 29/58 | €152,114 | €226,296 | +€74,182 | +48.8% |
| Stocks and contracts in progress | 3 | €31,326 | €47,755 | +€16,430 | +52.4% |
| Stocks | 30/36 | €31,326 | €47,755 | +€16,430 | +52.4% |
| Amounts receivable within one year | 40/41 | €6,787 | €12,731 | +€5,944 | +87.6% |
| Trade receivables | 40 | €4,408 | €7,960 | +€3,552 | +80.6% |
| Other amounts receivable | 41 | €2,379 | €4,772 | +€2,393 | +100.6% |
| Cash at bank and in hand | 54/58 | €113,401 | €165,146 | +€51,745 | +45.6% |
| Deferred charges and accrued income | 490/1 | €600 | €663 | +€62 | +10.4% |
| Total equity and liabilities | 10/49 | €293,189 | €341,228 | +€48,039 | +16.4% |
| Equity | 10/15 | €111,841 | €188,993 | +€77,152 | +69.0% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €81,841 | €158,993 | +€77,152 | +94.3% |
| Distributable reserves | 133 | €81,841 | €158,993 | +€77,152 | +94.3% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €181,349 | €152,235 | -€29,114 | -16.1% |
| Amounts payable after more than one year | 17 | €117,518 | €93,413 | -€24,106 | -20.5% |
| Financial debts | 170/4 | €117,518 | €93,413 | -€24,106 | -20.5% |
| Amounts payable within one year | 42/48 | €63,830 | €58,822 | -€5,008 | -7.8% |
| Current portion of amounts payable after more than one year | 42 | €24,542 | €24,106 | -€437 | -1.8% |
| Trade debts | 44 | €7,148 | €5,812 | -€1,336 | -18.7% |
| Suppliers | 440/4 | €7,148 | €5,812 | -€1,336 | -18.7% |
| Advances received on contracts in progress | 46 | €19,484 | €16,722 | -€2,762 | -14.2% |
| Taxes, remuneration and social security | 45 | €6,654 | €9,579 | +€2,925 | +44.0% |
| Taxes | 450/3 | €1,679 | €3,341 | +€1,661 | +99.0% |
| Remuneration and social security | 454/9 | €4,975 | €6,238 | +€1,263 | +25.4% |
| Other amounts payable | 47/48 | €6,002 | €2,604 | -€3,398 | -56.6% |
| Remuneration, social security and pensions | 62 | €10,155 | €46,748 | +€36,593 | +360.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,293 | €30,058 | +€765 | +2.6% |
| Other operating charges | 640/8 | €1,086 | €1,579 | +€493 | +45.4% |
| Gross operating margin | 9900 | €133,601 | €179,150 | +€45,549 | +34.1% |
| Operating profit (loss) | 9901 | €93,067 | €100,765 | +€7,697 | +8.3% |
| Financial income | 75/76B | €1,719 | €2,064 | +€346 | +20.1% |
| Recurring financial income | 75 | €1,719 | €2,064 | +€346 | +20.1% |
| Financial charges | 65/66B | €6,116 | €4,839 | -€1,277 | -20.9% |
| Recurring financial charges | 65 | €6,116 | €4,839 | -€1,277 | -20.9% |
| Profit (loss) for the period before taxes | 9903 | €88,670 | €97,990 | +€9,320 | +10.5% |
| Income taxes | 67/77 | €16,751 | €20,838 | +€4,087 | +24.4% |
| Profit (loss) for the period | 9904 | €71,919 | €77,152 | +€5,233 | +7.3% |
| Profit (loss) for the period to be appropriated | 9905 | €71,919 | €77,152 | +€5,233 | +7.3% |
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 10 October 2026 via checked.be.