New Fructidor: 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.
New Fructidor
Largest movements
- Receivables within one year +€295,070
up €295,070 (+768%), from €38,445 to €333,515
of which Other amounts receivable: +€304,339
- Cash -€82,223
down €82,223 (-19.2%), from €428,331 to €346,108
mainly Receivables within one year (-€295,070) and Investment in fixed assets (net) (-€140,467)
- Trade debts +€121,628
up €121,628 (+45.1%), from €269,606 to €391,234
- Reserves +€84,676
up €84,676 (+6.6%), from €1.3m to €1.4m
of which Distributable reserves: +€84,676
- Financial income -€37,629
down €37,629 (-97.4%), from €38,652 to €1,023
- Taxes -€27,477
down €27,477 (-58.0%), from €47,337 to €19,860
- Staff costs +€20,515
up €20,515 (+4.9%), from €419,086 to €439,601
- Gross operating margin -€16,669
down €16,669 (-2.3%), from €739,074 to €722,405
- Depreciation +€7,878
up €7,878 (+8.1%), from €97,236 to €105,114
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 | €3,930,492 | €4,189,531 | +€259,039 | +6.6% |
| Fixed assets | 21/28 | €3,237,358 | €3,272,710 | +€35,353 | +1.1% |
| Tangible fixed assets | 22/27 | €3,237,358 | €3,272,710 | +€35,353 | +1.1% |
| Land and buildings | 22 | €2,439,801 | €2,417,458 | -€22,343 | -0.9% |
| Plant, machinery and equipment | 23 | €15,441 | €69,973 | +€54,532 | +353% |
| Furniture and vehicles | 24 | €1,468 | €4,631 | +€3,164 | +216% |
| Other tangible fixed assets | 26 | €780,649 | €780,649 | = | 0.0% |
| Current assets | 29/58 | €693,135 | €916,821 | +€223,686 | +32.3% |
| Stocks and contracts in progress | 3 | €186,014 | €207,340 | +€21,326 | +11.5% |
| Stocks | 30/36 | €186,014 | €207,340 | +€21,326 | +11.5% |
| Amounts receivable within one year | 40/41 | €38,445 | €333,515 | +€295,070 | +768% |
| Trade receivables | 40 | €12,770 | €3,500 | -€9,270 | -72.6% |
| Other amounts receivable | 41 | €25,676 | €330,015 | +€304,339 | +1,185% |
| Cash at bank and in hand | 54/58 | €428,331 | €346,108 | -€82,223 | -19.2% |
| Deferred charges and accrued income | 490/1 | €40,344 | €29,858 | -€10,487 | -26.0% |
| Total equity and liabilities | 10/49 | €3,930,492 | €4,189,531 | +€259,039 | +6.6% |
| Equity | 10/15 | €1,293,992 | €1,378,669 | +€84,676 | +6.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,275,392 | €1,360,069 | +€84,676 | +6.6% |
| Tax-exempt reserves | 132 | €247 | €247 | = | 0.0% |
| Distributable reserves | 133 | €1,275,145 | €1,359,821 | +€84,676 | +6.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,636,500 | €2,810,862 | +€174,362 | +6.6% |
| Amounts payable after more than one year | 17 | €1,996,310 | €2,038,114 | +€41,805 | +2.1% |
| Financial debts | 170/4 | €1,996,310 | €1,738,114 | -€258,195 | -12.9% |
| Trade debts | 175 | - | €300,000 | +€300,000 | |
| Amounts payable within one year | 42/48 | €636,942 | €768,863 | +€131,921 | +20.7% |
| Current portion of amounts payable after more than one year | 42 | €255,174 | €258,195 | +€3,022 | +1.2% |
| Trade debts | 44 | €269,606 | €391,234 | +€121,628 | +45.1% |
| Suppliers | 440/4 | €269,606 | €391,234 | +€121,628 | +45.1% |
| Taxes, remuneration and social security | 45 | €109,232 | €80,781 | -€28,450 | -26.0% |
| Taxes | 450/3 | €22,434 | €10,489 | -€11,945 | -53.2% |
| Remuneration and social security | 454/9 | €86,798 | €70,292 | -€16,505 | -19.0% |
| Other amounts payable | 47/48 | €2,930 | €38,652 | +€35,722 | +1,219% |
| Accrued charges and deferred income | 492/3 | €3,249 | €3,886 | +€637 | +19.6% |
| Non-recurring operating income | 76A | €0 | €206 | +€206 | |
| Remuneration, social security and pensions | 62 | €419,086 | €439,601 | +€20,515 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €97,236 | €105,114 | +€7,878 | +8.1% |
| Other operating charges | 640/8 | €26,907 | €21,979 | -€4,928 | -18.3% |
| Non-recurring operating charges | 66A | €0 | €3,250 | +€3,250 | |
| Gross operating margin | 9900 | €739,074 | €722,405 | -€16,669 | -2.3% |
| Operating profit (loss) | 9901 | €195,846 | €152,462 | -€43,384 | -22.2% |
| Financial income | 75/76B | €38,652 | €1,023 | -€37,629 | -97.4% |
| Recurring financial income | 75 | €38,652 | €1,023 | -€37,629 | -97.4% |
| Financial charges | 65/66B | €53,762 | €48,949 | -€4,814 | -9.0% |
| Recurring financial charges | 65 | €53,762 | €48,949 | -€4,814 | -9.0% |
| Profit (loss) for the period before taxes | 9903 | €180,736 | €104,536 | -€76,199 | -42.2% |
| Income taxes | 67/77 | €47,337 | €19,860 | -€27,477 | -58.0% |
| Profit (loss) for the period | 9904 | €133,398 | €84,676 | -€48,722 | -36.5% |
| Profit (loss) for the period to be appropriated | 9905 | €133,398 | €84,676 | -€48,722 | -36.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.