LE FURETEUR: 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.
LE FURETEUR
Largest movements
- Current investments +€1.1m
up €1.1m (+230%), from €460,559 to €1.5m
- Cash -€850,889
down €850,889 (-96.2%), from €884,494 to €33,605
mainly Current investments (-€1.1m) and Trade debts (-€12,736)
- Reserves +€224,405
up €224,405 (+23.0%), from €974,605 to €1.2m
of which Distributable reserves: +€224,405
- Profit (loss) carried forward -€22,783
down €22,783 (-10.2%), from €224,405 to €201,622
- Taxes +€100,899
new in 2025: €100,899
- Financial income -€16,560
down €16,560 (-42.7%), from €38,764 to €22,204
- Gross operating margin -€12,203
down €12,203 (-3.5%), from €350,230 to €338,027
- Provisions -€4,500
no longer reported in 2025 (was €4,500)
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 | €1,523,907 | €1,725,028 | +€201,121 | +13.2% |
| Fixed assets | 21/28 | €101,529 | €89,697 | -€11,832 | -11.7% |
| Tangible fixed assets | 22/27 | €101,529 | €89,697 | -€11,832 | -11.7% |
| Land and buildings | 22 | €91,495 | €82,767 | -€8,728 | -9.5% |
| Plant, machinery and equipment | 23 | €151 | - | -€151 | |
| Furniture and vehicles | 24 | €9,883 | €6,930 | -€2,953 | -29.9% |
| Current assets | 29/58 | €1,422,378 | €1,635,331 | +€212,953 | +15.0% |
| Stocks and contracts in progress | 3 | €19,287 | €22,207 | +€2,920 | +15.1% |
| Stocks | 30/36 | €19,287 | €22,207 | +€2,920 | +15.1% |
| Amounts receivable within one year | 40/41 | €58,038 | €58,666 | +€628 | +1.1% |
| Trade receivables | 40 | €55,069 | €57,093 | +€2,024 | +3.7% |
| Other amounts receivable | 41 | €2,969 | €1,573 | -€1,396 | -47.0% |
| Current investments | 50/53 | €460,559 | €1,520,853 | +€1.1m | +230% |
| Cash at bank and in hand | 54/58 | €884,494 | €33,605 | -€850,889 | -96.2% |
| Total equity and liabilities | 10/49 | €1,523,907 | €1,725,028 | +€201,121 | +13.2% |
| Equity | 10/15 | €1,217,602 | €1,419,224 | +€201,622 | +16.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | €18,592 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €974,605 | €1,199,010 | +€224,405 | +23.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €972,746 | €1,197,151 | +€224,405 | +23.1% |
| Profit (loss) carried forward | 14 | €224,405 | €201,622 | -€22,783 | -10.2% |
| Provisions and deferred taxes | 16 | €86,019 | €96,004 | +€9,985 | +11.6% |
| Provisions for liabilities and charges | 160/5 | €86,019 | €96,004 | +€9,985 | +11.6% |
| Taxes | 161 | €56,096 | €66,081 | +€9,985 | +17.8% |
| Other liabilities and charges | 164/5 | €29,923 | €29,923 | = | 0.0% |
| Amounts payable | 17/49 | €220,286 | €209,800 | -€10,486 | -4.8% |
| Amounts payable within one year | 42/48 | €220,286 | €209,800 | -€10,486 | -4.8% |
| Trade debts | 44 | €220,286 | €207,550 | -€12,736 | -5.8% |
| Suppliers | 440/4 | €218,036 | €207,550 | -€10,486 | -4.8% |
| Bills of exchange payable | 441 | €2,250 | - | -€2,250 | |
| Other amounts payable | 47/48 | - | €2,250 | +€2,250 | |
| Remuneration, social security and pensions | 62 | €45,000 | €45,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,832 | €11,832 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,963 | - | -€1,963 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €4,500 | - | -€4,500 | |
| Gross operating margin | 9900 | €350,230 | €338,027 | -€12,203 | -3.5% |
| Operating profit (loss) | 9901 | €286,935 | €281,195 | -€5,740 | -2.0% |
| Financial income | 75/76B | €38,764 | €22,204 | -€16,560 | -42.7% |
| Recurring financial income | 75 | €38,764 | €22,204 | -€16,560 | -42.7% |
| Financial charges | 65/66B | €2,750 | €878 | -€1,872 | -68.1% |
| Recurring financial charges | 65 | €2,750 | €878 | -€1,872 | -68.1% |
| Profit (loss) for the period before taxes | 9903 | €322,949 | €302,521 | -€20,428 | -6.3% |
| Transfer to deferred taxes | 680 | €98,544 | - | -€98,544 | |
| Income taxes | 67/77 | - | €100,899 | +€100,899 | |
| Profit (loss) for the period | 9904 | €224,405 | €201,622 | -€22,783 | -10.2% |
| Profit (loss) for the period to be appropriated | 9905 | €224,405 | €201,622 | -€22,783 | -10.2% |
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 29 October 2026 via checked.be.