FZ MOTOR: 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.
FZ MOTOR
Largest movements
- Stocks and contracts -€44,319
down €44,319 (-20.5%), from €216,541 to €172,221
- Receivables within one year +€30,972
up €30,972 (+32.7%), from €94,662 to €125,634
of which Other amounts receivable: +€22,807
- Intangible fixed assets -€14,446
down €14,446 (-80.8%), from €17,870 to €3,424
- Tangible fixed assets -€6,398
down €6,398 (-16.5%), from €38,796 to €32,399
of which Land and buildings: -€3,703
- Trade debts -€26,643
down €26,643 (-46.1%), from €57,821 to €31,178
- Short-term financial debts +€16,657
up €16,657 (+12.7%), from €131,286 to €147,943
- Current portion of long-term debt -€14,923
down €14,923 (-54.4%), from €27,417 to €12,494
- Debts after one year -€12,494
down €12,494 (-82.5%), from €15,141 to €2,647
- Reserves +€5,589
up €5,589 (+4.7%), from €117,944 to €123,532
of which Distributable reserves: +€7,506
- Staff costs -€51,090
down €51,090 (-94.9%), from €53,824 to €2,734
- Gross operating margin -€33,364
down €33,364 (-31.5%), from €105,953 to €72,589
- Write-downs +€15,332
new in 2025: €15,332
- Depreciation -€7,682
down €7,682 (-24.0%), from €32,058 to €24,376
- Financial charges -€4,646
down €4,646 (-20.7%), from €22,490 to €17,844
of which Financial charges: -€4,646
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 | €410,122 | €376,323 | -€33,799 | -8.2% |
| Fixed assets | 21/28 | €58,875 | €38,031 | -€20,843 | -35.4% |
| Intangible fixed assets | 21 | €17,870 | €3,424 | -€14,446 | -80.8% |
| Tangible fixed assets | 22/27 | €38,796 | €32,399 | -€6,398 | -16.5% |
| Land and buildings | 22 | €29,162 | €25,459 | -€3,703 | -12.7% |
| Furniture and vehicles | 24 | €5,839 | €4,176 | -€1,663 | -28.5% |
| Other tangible fixed assets | 26 | €3,795 | €2,763 | -€1,032 | -27.2% |
| Financial fixed assets | 28 | €2,209 | €2,209 | = | 0.0% |
| Current assets | 29/58 | €351,248 | €338,292 | -€12,956 | -3.7% |
| Stocks and contracts in progress | 3 | €216,541 | €172,221 | -€44,319 | -20.5% |
| Stocks | 30/36 | €216,541 | €172,221 | -€44,319 | -20.5% |
| Amounts receivable within one year | 40/41 | €94,662 | €125,634 | +€30,972 | +32.7% |
| Trade receivables | 40 | €28,122 | €36,288 | +€8,165 | +29.0% |
| Other amounts receivable | 41 | €66,540 | €89,347 | +€22,807 | +34.3% |
| Cash at bank and in hand | 54/58 | €38,789 | €39,908 | +€1,119 | +2.9% |
| Deferred charges and accrued income | 490/1 | €1,256 | €528 | -€727 | -57.9% |
| Total equity and liabilities | 10/49 | €410,122 | €376,323 | -€33,799 | -8.2% |
| Equity | 10/15 | €134,094 | €142,082 | +€7,988 | +6.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €117,944 | €123,532 | +€5,589 | +4.7% |
| Tax-exempt reserves | 132 | €89,676 | €87,759 | -€1,917 | -2.1% |
| Distributable reserves | 133 | €28,267 | €35,773 | +€7,506 | +26.6% |
| Profit (loss) carried forward | 14 | -€2,399 | €0 | +€2,399 | |
| Provisions and deferred taxes | 16 | €987 | €0 | -€987 | -100% |
| Deferred taxes | 168 | €987 | €0 | -€987 | -100% |
| Amounts payable | 17/49 | €275,041 | €234,241 | -€40,800 | -14.8% |
| Amounts payable after more than one year | 17 | €15,141 | €2,647 | -€12,494 | -82.5% |
| Financial debts | 170/4 | €15,141 | €2,647 | -€12,494 | -82.5% |
| Amounts payable within one year | 42/48 | €259,901 | €231,594 | -€28,306 | -10.9% |
| Current portion of amounts payable after more than one year | 42 | €27,417 | €12,494 | -€14,923 | -54.4% |
| Financial debts | 43 | €131,286 | €147,943 | +€16,657 | +12.7% |
| Credit institutions | 430/8 | €131,286 | €147,943 | +€16,657 | +12.7% |
| Trade debts | 44 | €57,821 | €31,178 | -€26,643 | -46.1% |
| Suppliers | 440/4 | €57,821 | €31,178 | -€26,643 | -46.1% |
| Taxes, remuneration and social security | 45 | €43,377 | €39,979 | -€3,397 | -7.8% |
| Taxes | 450/3 | €24,624 | €36,211 | +€11,588 | +47.1% |
| Remuneration and social security | 454/9 | €18,753 | €3,768 | -€14,985 | -79.9% |
| Non-recurring operating income | 76A | €2,846 | €0 | -€2,846 | -100% |
| Remuneration, social security and pensions | 62 | €53,824 | €2,734 | -€51,090 | -94.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,058 | €24,376 | -€7,682 | -24.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €15,332 | +€15,332 | |
| Other operating charges | 640/8 | €4,727 | €2,255 | -€2,473 | -52.3% |
| Non-recurring operating charges | 66A | €1,721 | €901 | -€820 | -47.6% |
| Gross operating margin | 9900 | €105,953 | €72,589 | -€33,364 | -31.5% |
| Operating profit (loss) | 9901 | €13,622 | €26,991 | +€13,369 | +98.1% |
| Financial income | 75/76B | €1,903 | €2,749 | +€846 | +44.5% |
| Recurring financial income | 75 | €1,903 | €2,749 | +€846 | +44.5% |
| Financial charges | 65/66B | €22,490 | €17,844 | -€4,646 | -20.7% |
| Recurring financial charges | 65 | €22,490 | €17,844 | -€4,646 | -20.7% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | -€6,965 | €11,896 | +€18,861 | |
| Transfer from deferred taxes | 780 | €1,496 | €987 | -€509 | -34.0% |
| Income taxes | 67/77 | €750 | €4,895 | +€4,146 | +553% |
| Profit (loss) for the period | 9904 | -€6,218 | €7,988 | +€14,206 | |
| Transfer from tax-exempt reserves | 789 | €2,906 | €1,917 | -€989 | -34.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,312 | €9,905 | +€13,217 |
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 13 October 2026 via checked.be.