What changed?
Two fiscal 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.
FTL MGT
Largest movements
- Cash +€59,182
up €59,182 (+191.9%), from €30,834 to €90,016
mainly Net result for the year (+€43,723) and Investment in fixed assets (net) (+€32,999)
- Tangible fixed assets -€33,950
down €33,950 (-90.7%), from €37,427 to €3,477
- Deferred charges and accrued income +€1,509
up €1,509 (+83.3%), from €1,811 to €3,321
- Profit (loss) carried forward +€43,723
up €43,723 (+260.1%), from €16,809 to €60,532
- Other debts -€10,761
down €10,761 (-19.1%), from €56,413 to €45,652
- Tax, wage and social debts -€8,021
down €8,021 (-75.1%), from €10,684 to €2,664
- Trade debts +€1,756
up €1,756 (+7505.9%), from €23 to €1,780
- Gross operating margin +€48,600
up €48,600 (+187.1%), from €25,976 to €74,576
- Taxes +€9,833
up €9,833 (+185.8%), from €5,292 to €15,124
- Other operating charges +€9,379
up €9,379 (+807.1%), from €1,162 to €10,541
- Financial charges +€4,149
up €4,149 (+4733.4%), from €88 to €4,236
- Depreciation -€1,675
down €1,675 (-63.8%), from €2,626 to €952
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.
Cash bridge derived
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 | €85,930 | €112,628 | +€26,698 | +31.1% |
| Fixed assets | 21/28 | €37,427 | €3,477 | -€33,950 | -90.7% |
| Tangible fixed assets | 22/27 | €37,427 | €3,477 | -€33,950 | -90.7% |
| Furniture and vehicles | 24 | €37,427 | €3,477 | -€33,950 | -90.7% |
| Current assets | 29/58 | €48,502 | €109,151 | +€60,648 | +125.0% |
| Amounts receivable within one year | 40/41 | €15,857 | €15,814 | -€43 | -0.3% |
| Trade receivables | 40 | €15,857 | €15,138 | -€719 | -4.5% |
| Other amounts receivable | 41 | - | €676 | +€676 | |
| Cash at bank and in hand | 54/58 | €30,834 | €90,016 | +€59,182 | +191.9% |
| Deferred charges and accrued income | 490/1 | €1,811 | €3,321 | +€1,509 | +83.3% |
| Total equity and liabilities | 10/49 | €85,930 | €112,628 | +€26,698 | +31.1% |
| Equity | 10/15 | €18,809 | €62,532 | +€43,723 | +232.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,809 | €60,532 | +€43,723 | +260.1% |
| Amounts payable | 17/49 | €67,121 | €50,096 | -€17,025 | -25.4% |
| Amounts payable within one year | 42/48 | €67,121 | €50,096 | -€17,025 | -25.4% |
| Trade debts | 44 | €23 | €1,780 | +€1,756 | +7505.9% |
| Suppliers | 440/4 | €23 | €1,780 | +€1,756 | +7505.9% |
| Taxes, remuneration and social security | 45 | €10,684 | €2,664 | -€8,021 | -75.1% |
| Taxes | 450/3 | €10,684 | €2,664 | -€8,021 | -75.1% |
| Other amounts payable | 47/48 | €56,413 | €45,652 | -€10,761 | -19.1% |
| Turnover | 70 | - | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,626 | €952 | -€1,675 | -63.8% |
| Other operating charges | 640/8 | €1,162 | €10,541 | +€9,379 | +807.1% |
| Gross operating margin | 9900 | €25,976 | €74,576 | +€48,600 | +187.1% |
| Operating profit (loss) | 9901 | €22,188 | €63,084 | +€40,896 | +184.3% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €88 | €4,236 | +€4,149 | +4733.4% |
| Recurring financial charges | 65 | €88 | €4,236 | +€4,149 | +4733.4% |
| Profit (loss) for the period before taxes | 9903 | €22,100 | €58,848 | +€36,747 | +166.3% |
| Income taxes | 67/77 | €5,292 | €15,124 | +€9,833 | +185.8% |
| Profit (loss) for the period | 9904 | €16,809 | €43,723 | +€26,915 | +160.1% |
| Profit (loss) for the period to be appropriated | 9905 | €16,809 | €43,723 | +€26,915 | +160.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.