FUTURE INVESTING: 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.
FUTURE INVESTING
Largest movements
- Stocks and contracts +€365,589
up €365,589 (+25.0%), from €1.5m to €1.8m
- Receivables within one year -€192,677
down €192,677 (-79.6%), from €241,984 to €49,307
of which Trade receivables: -€238,055
- Cash -€139,992
down €139,992 (-57.7%), from €242,425 to €102,433
mainly Stocks and contracts (-€365,589) and Net result for the year (-€187,611)
- Tangible fixed assets -€37,273
down €37,273 (-56.4%), from €66,054 to €28,782
of which Furniture and vehicles: -€34,646
- Profit (loss) carried forward -€187,611
down €187,611 (-113%), from -€165,870 to -€353,481
- Debts after one year +€144,604
up €144,604 (+13.7%), from €1.1m to €1.2m
of which Other amounts payable: +€290,000
- Short-term financial debts +€129,133
up €129,133 (+15.8%), from €818,500 to €947,633
- Trade debts -€90,667
down €90,667 (-90.5%), from €100,148 to €9,481
- Gross operating margin -€159,948
down €159,948, from €153,610 to -€6,338
- Staff costs -€30,141
down €30,141 (-37.4%), from €80,647 to €50,506
- Financial charges +€16,374
up €16,374 (+17.7%), from €92,656 to €109,030
- Depreciation -€7,344
down €7,344 (-30.1%), from €24,411 to €17,067
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 | €2,015,380 | €2,007,440 | -€7,940 | -0.4% |
| Fixed assets | 21/28 | €66,796 | €29,281 | -€37,515 | -56.2% |
| Intangible fixed assets | 21 | €742 | €500 | -€242 | -32.6% |
| Tangible fixed assets | 22/27 | €66,054 | €28,782 | -€37,273 | -56.4% |
| Plant, machinery and equipment | 23 | €5,115 | €2,489 | -€2,626 | -51.3% |
| Furniture and vehicles | 24 | €60,939 | €26,292 | -€34,646 | -56.9% |
| Current assets | 29/58 | €1,948,583 | €1,978,158 | +€29,575 | +1.5% |
| Stocks and contracts in progress | 3 | €1,460,543 | €1,826,131 | +€365,589 | +25.0% |
| Stocks | 30/36 | €1,460,543 | €1,826,131 | +€365,589 | +25.0% |
| Amounts receivable within one year | 40/41 | €241,984 | €49,307 | -€192,677 | -79.6% |
| Trade receivables | 40 | €241,984 | €3,929 | -€238,055 | -98.4% |
| Other amounts receivable | 41 | - | €45,378 | +€45,378 | |
| Cash at bank and in hand | 54/58 | €242,425 | €102,433 | -€139,992 | -57.7% |
| Deferred charges and accrued income | 490/1 | €3,632 | €287 | -€3,344 | -92.1% |
| Total equity and liabilities | 10/49 | €2,015,380 | €2,007,440 | -€7,940 | -0.4% |
| Equity | 10/15 | -€90,870 | -€278,481 | -€187,611 | -206% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€165,870 | -€353,481 | -€187,611 | -113% |
| Amounts payable | 17/49 | €2,106,249 | €2,285,920 | +€179,671 | +8.5% |
| Amounts payable after more than one year | 17 | €1,056,953 | €1,201,557 | +€144,604 | +13.7% |
| Financial debts | 170/4 | €851,953 | €706,557 | -€145,396 | -17.1% |
| Other amounts payable | 178/9 | €205,000 | €495,000 | +€290,000 | +141% |
| Amounts payable within one year | 42/48 | €1,049,296 | €1,084,363 | +€35,067 | +3.3% |
| Current portion of amounts payable after more than one year | 42 | €13,538 | €13,161 | -€377 | -2.8% |
| Financial debts | 43 | €818,500 | €947,633 | +€129,133 | +15.8% |
| Credit institutions | 430/8 | €818,500 | €947,633 | +€129,133 | +15.8% |
| Trade debts | 44 | €100,148 | €9,481 | -€90,667 | -90.5% |
| Suppliers | 440/4 | €100,148 | €9,481 | -€90,667 | -90.5% |
| Advances received on contracts in progress | 46 | €10,000 | €10,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €15,119 | €22,693 | +€7,574 | +50.1% |
| Taxes | 450/3 | €134 | €13,635 | +€13,501 | +10,090% |
| Remuneration and social security | 454/9 | €14,985 | €9,058 | -€5,927 | -39.6% |
| Other amounts payable | 47/48 | €91,991 | €81,395 | -€10,597 | -11.5% |
| Remuneration, social security and pensions | 62 | €80,647 | €50,506 | -€30,141 | -37.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,411 | €17,067 | -€7,344 | -30.1% |
| Other operating charges | 640/8 | €907 | €878 | -€29 | -3.2% |
| Non-recurring operating charges | 66A | - | €3,651 | +€3,651 | |
| Gross operating margin | 9900 | €153,610 | -€6,338 | -€159,948 | |
| Operating profit (loss) | 9901 | €47,644 | -€78,440 | -€126,085 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €92,656 | €109,030 | +€16,374 | +17.7% |
| Recurring financial charges | 65 | €92,656 | €109,030 | +€16,374 | +17.7% |
| Profit (loss) for the period before taxes | 9903 | -€45,011 | -€187,470 | -€142,459 | -316% |
| Income taxes | 67/77 | €134 | €141 | +€7 | +5.3% |
| Profit (loss) for the period | 9904 | -€45,145 | -€187,611 | -€142,466 | -316% |
| Profit (loss) for the period to be appropriated | 9905 | -€45,145 | -€187,611 | -€142,466 | -316% |
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 19 October 2026 via checked.be.