C-FISH: 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.
C-FISH
Largest movements
- Tangible fixed assets -€20,144
down €20,144 (-10.0%), from €202,418 to €182,274
- Cash -€10,515
down €10,515 (-7.3%), from €143,692 to €133,176
mainly Short-term financial debts (-€32,000) and Debts after one year (-€12,002)
- Short-term financial debts -€32,000
no longer reported in 2025 (was €32,000)
- Debts after one year -€12,002
down €12,002 (-15.6%), from €77,100 to €65,098
- Profit (loss) carried forward +€8,674
up €8,674 (+47.7%), from €18,168 to €26,842
- Tax, wage and social debts +€4,511
up €4,511 (+812.6%), from €555 to €5,066
of which Remuneration and social security: +€2,773
- Gross operating margin +€8,883
up €8,883 (+15.4%), from €57,813 to €66,696
- Depreciation -€8,013
down €8,013 (-22.2%), from €36,048 to €28,035
- Staff costs +€6,359
up €6,359 (+95.1%), from €6,688 to €13,047
- Financial charges +€2,414
up €2,414 (+36.4%), from €6,632 to €9,045
- Taxes +€2,137
up €2,137 (+694.8%), from €308 to €2,445
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 | €355,976 | €322,085 | -€33,890 | -9.5% |
| Fixed assets | 21/28 | €202,843 | €182,699 | -€20,144 | -9.9% |
| Tangible fixed assets | 22/27 | €202,418 | €182,274 | -€20,144 | -10.0% |
| Land and buildings | 22 | €158,471 | €149,160 | -€9,310 | -5.9% |
| Plant, machinery and equipment | 23 | €32,735 | €26,583 | -€6,153 | -18.8% |
| Furniture and vehicles | 24 | €11,212 | €6,531 | -€4,681 | -41.7% |
| Financial fixed assets | 28 | €425 | €425 | = | 0.0% |
| Current assets | 29/58 | €153,133 | €139,386 | -€13,747 | -9.0% |
| Stocks and contracts in progress | 3 | €3,572 | €3,815 | +€243 | +6.8% |
| Stocks | 30/36 | €3,572 | €3,815 | +€243 | +6.8% |
| Amounts receivable within one year | 40/41 | €4,369 | €2,395 | -€1,974 | -45.2% |
| Trade receivables | 40 | €693 | €668 | -€25 | -3.6% |
| Other amounts receivable | 41 | €3,676 | €1,727 | -€1,950 | -53.0% |
| Cash at bank and in hand | 54/58 | €143,692 | €133,176 | -€10,515 | -7.3% |
| Deferred charges and accrued income | 490/1 | €1,500 | - | -€1,500 | |
| Total equity and liabilities | 10/49 | €355,976 | €322,085 | -€33,890 | -9.5% |
| Equity | 10/15 | €214,670 | €223,345 | +€8,674 | +4.0% |
| Contributions | 10/11 | €160,000 | €160,000 | = | 0.0% |
| Reserves | 13 | €36,503 | €36,503 | = | 0.0% |
| Distributable reserves | 133 | €36,503 | €36,503 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,168 | €26,842 | +€8,674 | +47.7% |
| Amounts payable | 17/49 | €141,306 | €98,741 | -€42,565 | -30.1% |
| Amounts payable after more than one year | 17 | €77,100 | €65,098 | -€12,002 | -15.6% |
| Financial debts | 170/4 | €77,100 | €65,098 | -€12,002 | -15.6% |
| Amounts payable within one year | 42/48 | €64,205 | €33,643 | -€30,563 | -47.6% |
| Current portion of amounts payable after more than one year | 42 | €11,473 | €12,002 | +€529 | +4.6% |
| Financial debts | 43 | €32,000 | - | -€32,000 | |
| Credit institutions | 430/8 | €32,000 | - | -€32,000 | |
| Trade debts | 44 | €17,282 | €14,820 | -€2,463 | -14.2% |
| Suppliers | 440/4 | €17,282 | €14,820 | -€2,463 | -14.2% |
| Taxes, remuneration and social security | 45 | €555 | €5,066 | +€4,511 | +812.6% |
| Taxes | 450/3 | €289 | €2,027 | +€1,738 | +601.6% |
| Remuneration and social security | 454/9 | €266 | €3,040 | +€2,773 | +1041.6% |
| Other amounts payable | 47/48 | €2,895 | €1,755 | -€1,141 | -39.4% |
| Remuneration, social security and pensions | 62 | €6,688 | €13,047 | +€6,359 | +95.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,048 | €28,035 | -€8,013 | -22.2% |
| Other operating charges | 640/8 | €8,283 | €6,670 | -€1,613 | -19.5% |
| Gross operating margin | 9900 | €57,813 | €66,696 | +€8,883 | +15.4% |
| Operating profit (loss) | 9901 | €6,794 | €18,944 | +€12,150 | +178.8% |
| Financial income | 75/76B | €176 | €1,220 | +€1,045 | +594.4% |
| Recurring financial income | 75 | €176 | €1,220 | +€1,045 | +594.4% |
| Financial charges | 65/66B | €6,632 | €9,045 | +€2,414 | +36.4% |
| Recurring financial charges | 65 | €6,632 | €9,045 | +€2,414 | +36.4% |
| Profit (loss) for the period before taxes | 9903 | €338 | €11,119 | +€10,781 | +3186.8% |
| Income taxes | 67/77 | €308 | €2,445 | +€2,137 | +694.8% |
| Profit (loss) for the period | 9904 | €31 | €8,674 | +€8,644 | +28164.7% |
| Profit (loss) for the period to be appropriated | 9905 | €31 | €8,674 | +€8,644 | +28164.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.