Fico Belgium: 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.
Fico Belgium
Largest movements
- Tangible fixed assets -€18,611
down €18,611 (-27.9%), from €66,764 to €48,153
of which Furniture and vehicles: -€14,678
- Cash -€10,877
down €10,877 (-86.9%), from €12,522 to €1,644
mainly Debts after one year (-€22,969) and Contributions, distributions and other (-€11,551)
- Receivables within one year +€9,103
up €9,103 (+16.6%), from €54,872 to €63,975
of which Trade receivables: +€18,653
- Stocks and contracts +€5,894
up €5,894 (+6.5%), from €91,235 to €97,129
- Intangible fixed assets +€5,598
up €5,598 (+311%), from €1,799 to €7,397
- Debts after one year -€22,969
down €22,969 (-56.2%), from €40,856 to €17,887
- Reserves +€7,313
up €7,313 (+8.4%), from €86,672 to €93,986
of which Distributable reserves: +€7,313
- Trade debts +€4,806
up €4,806 (+22.5%), from €21,405 to €26,211
- Tax, wage and social debts +€2,760
up €2,760 (+9.8%), from €28,103 to €30,864
of which Taxes: +€4,906
- Staff costs -€4,237
down €4,237 (-3.8%), from €112,854 to €108,617
- Gross operating margin +€3,904
up €3,904 (+2.4%), from €165,700 to €169,604
- Taxes +€3,247
up €3,247 (+53.1%), from €6,114 to €9,362
- Depreciation +€2,601
up €2,601 (+12.0%), from €21,712 to €24,313
- Write-downs -€1,758
down €1,758 (-50.0%), from €3,515 to €1,758
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 | €229,402 | €220,779 | -€8,623 | -3.8% |
| Fixed assets | 21/28 | €68,563 | €55,550 | -€13,013 | -19.0% |
| Intangible fixed assets | 21 | €1,799 | €7,397 | +€5,598 | +311% |
| Tangible fixed assets | 22/27 | €66,764 | €48,153 | -€18,611 | -27.9% |
| Plant, machinery and equipment | 23 | €29,471 | €25,538 | -€3,933 | -13.3% |
| Furniture and vehicles | 24 | €37,293 | €22,615 | -€14,678 | -39.4% |
| Current assets | 29/58 | €160,839 | €165,228 | +€4,390 | +2.7% |
| Stocks and contracts in progress | 3 | €91,235 | €97,129 | +€5,894 | +6.5% |
| Stocks | 30/36 | €91,235 | €97,129 | +€5,894 | +6.5% |
| Amounts receivable within one year | 40/41 | €54,872 | €63,975 | +€9,103 | +16.6% |
| Trade receivables | 40 | €43,750 | €62,403 | +€18,653 | +42.6% |
| Other amounts receivable | 41 | €11,122 | €1,572 | -€9,551 | -85.9% |
| Cash at bank and in hand | 54/58 | €12,522 | €1,644 | -€10,877 | -86.9% |
| Deferred charges and accrued income | 490/1 | €2,210 | €2,480 | +€271 | +12.2% |
| Total equity and liabilities | 10/49 | €229,402 | €220,779 | -€8,623 | -3.8% |
| Equity | 10/15 | €93,079 | €100,186 | +€7,107 | +7.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €86,672 | €93,986 | +€7,313 | +8.4% |
| Non-distributable reserves | 130/1 | €750 | €750 | = | 0.0% |
| Reserves not available under the articles | 1311 | €750 | €750 | = | 0.0% |
| Tax-exempt reserves | 132 | €10,450 | €10,450 | = | 0.0% |
| Distributable reserves | 133 | €75,472 | €82,786 | +€7,313 | +9.7% |
| Profit (loss) carried forward | 14 | €207 | €0 | -€207 | -100% |
| Amounts payable | 17/49 | €136,323 | €120,593 | -€15,730 | -11.5% |
| Amounts payable after more than one year | 17 | €40,856 | €17,887 | -€22,969 | -56.2% |
| Financial debts | 170/4 | €40,856 | €17,887 | -€22,969 | -56.2% |
| Amounts payable within one year | 42/48 | €95,467 | €101,596 | +€6,129 | +6.4% |
| Current portion of amounts payable after more than one year | 42 | €22,188 | €22,969 | +€781 | +3.5% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €21,405 | €26,211 | +€4,806 | +22.5% |
| Suppliers | 440/4 | €21,405 | €26,211 | +€4,806 | +22.5% |
| Taxes, remuneration and social security | 45 | €28,103 | €30,864 | +€2,760 | +9.8% |
| Taxes | 450/3 | €10,570 | €15,476 | +€4,906 | +46.4% |
| Remuneration and social security | 454/9 | €17,533 | €15,388 | -€2,145 | -12.2% |
| Other amounts payable | 47/48 | €23,771 | €21,552 | -€2,219 | -9.3% |
| Accrued charges and deferred income | 492/3 | - | €1,111 | +€1,111 | |
| Remuneration, social security and pensions | 62 | €112,854 | €108,617 | -€4,237 | -3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,712 | €24,313 | +€2,601 | +12.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,515 | €1,758 | -€1,758 | -50.0% |
| Other operating charges | 640/8 | €548 | €1,595 | +€1,046 | +191% |
| Non-recurring operating charges | 66A | €4,500 | €0 | -€4,500 | -100% |
| Gross operating margin | 9900 | €165,700 | €169,604 | +€3,904 | +2.4% |
| Operating profit (loss) | 9901 | €22,571 | €33,322 | +€10,751 | +47.6% |
| Financial income | 75/76B | €324 | €791 | +€467 | +144% |
| Recurring financial income | 75 | €324 | €791 | +€467 | +144% |
| Financial charges | 65/66B | €7,206 | €6,093 | -€1,113 | -15.4% |
| Recurring financial charges | 65 | €7,206 | €6,093 | -€1,113 | -15.4% |
| Profit (loss) for the period before taxes | 9903 | €15,688 | €28,019 | +€12,331 | +78.6% |
| Income taxes | 67/77 | €6,114 | €9,362 | +€3,247 | +53.1% |
| Profit (loss) for the period | 9904 | €9,574 | €18,658 | +€9,084 | +94.9% |
| Profit (loss) for the period to be appropriated | 9905 | €9,574 | €18,658 | +€9,084 | +94.9% |
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 30 October 2026 via checked.be.