FIBONACCI: 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.
FIBONACCI
Largest movements
- Stocks and contracts +€196,408
up €196,408 (+109.4%), from €179,534 to €375,942
- Receivables within one year -€31,959
down €31,959 (-39.2%), from €81,472 to €49,513
of which Trade receivables: -€22,008
- Cash +€5,549
up €5,549 (+122.8%), from €4,520 to €10,068
mainly Debts after one year (+€137,889) and Net result for the year (+€42,102)
- Debts after one year +€137,889
up €137,889 (+481.4%), from €28,641 to €166,530
- Reserves +€41,243
up €41,243 (+17.0%), from €242,629 to €283,872
of which Distributable reserves: +€41,243
- Current portion of long-term debt -€13,434
down €13,434 (-48.9%), from €27,466 to €14,032
- Tax, wage and social debts -€9,349
down €9,349 (-69.4%), from €13,473 to €4,124
of which Taxes: -€8,476
- Other debts +€7,481
up €7,481 (+23.9%), from €31,350 to €38,831
- Gross operating margin -€135,196
down €135,196 (-97.1%), from €139,184 to €3,988
- Depreciation -€58,769
down €58,769 (-96.2%), from €61,072 to €2,304
- Financial income +€47,264
up €47,264 (+18905492.0%), from €0 to €47,264
- Taxes -€19,766
down €19,766 (-82.7%), from €23,891 to €4,125
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 | €381,977 | €549,580 | +€167,603 | +43.9% |
| Fixed assets | 21/28 | €116,360 | €114,056 | -€2,304 | -2.0% |
| Tangible fixed assets | 22/27 | €91,360 | €89,056 | -€2,304 | -2.5% |
| Land and buildings | 22 | €91,131 | €88,875 | -€2,256 | -2.5% |
| Plant, machinery and equipment | 23 | €228 | €181 | -€47 | -20.8% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €25,000 | €25,000 | = | 0.0% |
| Current assets | 29/58 | €265,617 | €435,524 | +€169,906 | +64.0% |
| Stocks and contracts in progress | 3 | €179,534 | €375,942 | +€196,408 | +109.4% |
| Stocks | 30/36 | €179,534 | €375,942 | +€196,408 | +109.4% |
| Amounts receivable within one year | 40/41 | €81,472 | €49,513 | -€31,959 | -39.2% |
| Trade receivables | 40 | €23,867 | €1,858 | -€22,008 | -92.2% |
| Other amounts receivable | 41 | €57,606 | €47,655 | -€9,951 | -17.3% |
| Current investments | 50/53 | €92 | - | -€92 | |
| Cash at bank and in hand | 54/58 | €4,520 | €10,068 | +€5,549 | +122.8% |
| Total equity and liabilities | 10/49 | €381,977 | €549,580 | +€167,603 | +43.9% |
| Equity | 10/15 | €277,858 | €319,101 | +€41,243 | +14.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €242,629 | €283,872 | +€41,243 | +17.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €240,769 | €282,012 | +€41,243 | +17.1% |
| Profit (loss) carried forward | 14 | €22,829 | €22,829 | = | 0.0% |
| Amounts payable | 17/49 | €104,119 | €230,479 | +€126,360 | +121.4% |
| Amounts payable after more than one year | 17 | €28,641 | €166,530 | +€137,889 | +481.4% |
| Financial debts | 170/4 | €28,641 | €166,530 | +€137,889 | +481.4% |
| Amounts payable within one year | 42/48 | €75,478 | €63,949 | -€11,529 | -15.3% |
| Current portion of amounts payable after more than one year | 42 | €27,466 | €14,032 | -€13,434 | -48.9% |
| Trade debts | 44 | €3,189 | €6,961 | +€3,772 | +118.3% |
| Suppliers | 440/4 | €3,189 | €6,961 | +€3,772 | +118.3% |
| Taxes, remuneration and social security | 45 | €13,473 | €4,124 | -€9,349 | -69.4% |
| Taxes | 450/3 | €12,601 | €4,124 | -€8,476 | -67.3% |
| Remuneration and social security | 454/9 | €872 | - | -€872 | |
| Other amounts payable | 47/48 | €31,350 | €38,831 | +€7,481 | +23.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,072 | €2,304 | -€58,769 | -96.2% |
| Other operating charges | 640/8 | €857 | €1,075 | +€217 | +25.3% |
| Non-recurring operating charges | 66A | €303 | - | -€303 | |
| Gross operating margin | 9900 | €139,184 | €3,988 | -€135,196 | -97.1% |
| Operating profit (loss) | 9901 | €76,951 | €610 | -€76,341 | -99.2% |
| Financial income | 75/76B | €0 | €47,264 | +€47,264 | +18905492.0% |
| Recurring financial income | 75 | €0 | €47,264 | +€47,264 | +18905492.0% |
| Financial charges | 65/66B | €2,345 | €1,648 | -€697 | -29.7% |
| Recurring financial charges | 65 | €2,345 | €1,648 | -€697 | -29.7% |
| Profit (loss) for the period before taxes | 9903 | €74,607 | €46,226 | -€28,381 | -38.0% |
| Income taxes | 67/77 | €23,891 | €4,125 | -€19,766 | -82.7% |
| Profit (loss) for the period | 9904 | €50,716 | €42,102 | -€8,614 | -17.0% |
| Profit (loss) for the period to be appropriated | 9905 | €50,716 | €42,102 | -€8,614 | -17.0% |
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 3 October 2026 via checked.be.