F & C: 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.
F & C
Largest movements
- Tangible fixed assets -€41,650
down €41,650 (-3.0%), from €1.4m to €1.3m
- Financial fixed assets +€19,831
new in 2025: €19,831
- Debts after one year -€40,906
down €40,906 (-68.3%), from €59,930 to €19,024
- Trade debts -€28,047
down €28,047 (-9.6%), from €291,220 to €263,173
- Tax, wage and social debts +€27,603
up €27,603 (+40.2%), from €68,642 to €96,245
of which Remuneration and social security: +€25,717
- Staff costs +€16,362
up €16,362 (+16.2%), from €100,869 to €117,231
- Gross operating margin +€15,319
up €15,319 (+5.1%), from €300,209 to €315,528
- Turnover -€8,878
down €8,878 (-21.8%), from €40,811 to €31,933
- Financial charges -€6,899
down €6,899 (-49.0%), from €14,087 to €7,188
of which Financial charges: -€11,904
- Depreciation +€3,335
up €3,335 (+2.7%), from €125,359 to €128,694
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 | €1,500,233 | €1,479,375 | -€20,858 | -1.4% |
| Fixed assets | 21/28 | €1,371,145 | €1,349,326 | -€21,819 | -1.6% |
| Tangible fixed assets | 22/27 | €1,371,145 | €1,329,495 | -€41,650 | -3.0% |
| Land and buildings | 22 | €1,258,093 | €1,246,421 | -€11,672 | -0.9% |
| Plant, machinery and equipment | 23 | €54,688 | €45,291 | -€9,397 | -17.2% |
| Furniture and vehicles | 24 | €1,434 | €1,656 | +€222 | +15.5% |
| Other tangible fixed assets | 26 | €56,930 | €36,127 | -€20,803 | -36.5% |
| Financial fixed assets | 28 | - | €19,831 | +€19,831 | |
| Current assets | 29/58 | €129,088 | €130,049 | +€961 | +0.7% |
| Amounts receivable within one year | 40/41 | €102,388 | €109,943 | +€7,555 | +7.4% |
| Trade receivables | 40 | €102,388 | €109,943 | +€7,555 | +7.4% |
| Cash at bank and in hand | 54/58 | €14,058 | €6,286 | -€7,772 | -55.3% |
| Deferred charges and accrued income | 490/1 | €12,642 | €13,820 | +€1,178 | +9.3% |
| Total equity and liabilities | 10/49 | €1,500,233 | €1,479,375 | -€20,858 | -1.4% |
| Equity | 10/15 | €1,051,120 | €1,060,358 | +€9,238 | +0.9% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Revaluation surpluses | 12 | €320,198 | €320,198 | = | 0.0% |
| Profit (loss) carried forward | 14 | €230,922 | €240,160 | +€9,238 | +4.0% |
| Amounts payable | 17/49 | €449,113 | €419,017 | -€30,096 | -6.7% |
| Amounts payable after more than one year | 17 | €59,930 | €19,024 | -€40,906 | -68.3% |
| Financial debts | 170/4 | €59,930 | €19,024 | -€40,906 | -68.3% |
| Amounts payable within one year | 42/48 | €389,183 | €399,993 | +€10,810 | +2.8% |
| Current portion of amounts payable after more than one year | 42 | €29,304 | €29,304 | = | 0.0% |
| Financial debts | 43 | €17 | €17 | = | 0.0% |
| Credit institutions | 430/8 | €17 | €17 | = | 0.0% |
| Trade debts | 44 | €291,220 | €263,173 | -€28,047 | -9.6% |
| Suppliers | 440/4 | €291,220 | €263,173 | -€28,047 | -9.6% |
| Taxes, remuneration and social security | 45 | €68,642 | €96,245 | +€27,603 | +40.2% |
| Taxes | 450/3 | €32,297 | €34,183 | +€1,886 | +5.8% |
| Remuneration and social security | 454/9 | €36,345 | €62,062 | +€25,717 | +70.8% |
| Other amounts payable | 47/48 | - | €11,254 | +€11,254 | |
| Turnover | 70 | €40,811 | €31,933 | -€8,878 | -21.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €133,408 | €132,136 | -€1,272 | -1.0% |
| Remuneration, social security and pensions | 62 | €100,869 | €117,231 | +€16,362 | +16.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €125,359 | €128,694 | +€3,335 | +2.7% |
| Other operating charges | 640/8 | €55,018 | €52,862 | -€2,156 | -3.9% |
| Non-recurring operating charges | 66A | €7 | - | -€7 | |
| Gross operating margin | 9900 | €300,209 | €315,528 | +€15,319 | +5.1% |
| Operating profit (loss) | 9901 | €18,956 | €16,741 | -€2,215 | -11.7% |
| Financial income | 75/76B | - | €455 | +€455 | |
| Recurring financial income | 75 | - | €455 | +€455 | |
| Financial charges | 65/66B | €14,087 | €7,188 | -€6,899 | -49.0% |
| Recurring financial charges | 65 | €14,087 | €2,183 | -€11,904 | -84.5% |
| Non-recurring financial charges | 66B | - | €5,005 | +€5,005 | |
| Profit (loss) for the period before taxes | 9903 | €4,869 | €10,008 | +€5,139 | +106% |
| Income taxes | 67/77 | €2,827 | €770 | -€2,057 | -72.8% |
| Profit (loss) for the period | 9904 | €2,042 | €9,238 | +€7,196 | +352% |
| Profit (loss) for the period to be appropriated | 9905 | €2,042 | €9,238 | +€7,196 | +352% |
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 23 October 2026 via checked.be.