FICODEX: 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.
FICODEX
Largest movements
- Current investments -€502,929
down €502,929 (-100%), from €502,929 to €0
- Cash +€169,053
up €169,053 (+110%), from €153,094 to €322,147
mainly Current investments (+€502,929) and Other debts (+€207,390)
- Receivables within one year -€77,409
down €77,409 (-18.1%), from €428,035 to €350,626
of which Trade receivables: -€116,810
- Intangible fixed assets -€30,656
down €30,656 (-30.0%), from €102,095 to €71,439
- Tangible fixed assets -€15,268
down €15,268 (-11.8%), from €129,840 to €114,572
- Reserves -€634,121
down €634,121 (-54.9%), from €1.2m to €521,249
- Other debts +€207,390
up €207,390 (+236%), from €87,731 to €295,121
- Trade debts -€32,452
down €32,452 (-37.5%), from €86,435 to €53,984
- Staff costs -€28,401
down €28,401 (-15.3%), from €185,669 to €157,269
- Write-downs +€25,638
up €25,638 (+80.9%), from -€31,699 to -€6,061
- Gross operating margin -€22,616
down €22,616 (-4.2%), from €534,545 to €511,929
- Depreciation +€11,684
up €11,684 (+12.5%), from €93,512 to €105,196
- Financial income +€7,628
up €7,628 (+18.5%), from €41,339 to €48,968
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 | €1,404,685 | €949,077 | -€455,608 | -32.4% |
| Fixed assets | 21/28 | €303,091 | €257,167 | -€45,924 | -15.2% |
| Intangible fixed assets | 21 | €102,095 | €71,439 | -€30,656 | -30.0% |
| Tangible fixed assets | 22/27 | €129,840 | €114,572 | -€15,268 | -11.8% |
| Land and buildings | 22 | €57,098 | €55,620 | -€1,479 | -2.6% |
| Plant, machinery and equipment | 23 | €6,338 | €4,583 | -€1,755 | -27.7% |
| Furniture and vehicles | 24 | €16,150 | €10,403 | -€5,747 | -35.6% |
| Other tangible fixed assets | 26 | €50,254 | €43,967 | -€6,287 | -12.5% |
| Financial fixed assets | 28 | €71,157 | €71,157 | = | 0.0% |
| Current assets | 29/58 | €1,101,594 | €691,910 | -€409,684 | -37.2% |
| Amounts receivable within one year | 40/41 | €428,035 | €350,626 | -€77,409 | -18.1% |
| Trade receivables | 40 | €389,992 | €273,182 | -€116,810 | -30.0% |
| Other amounts receivable | 41 | €38,042 | €77,444 | +€39,402 | +104% |
| Current investments | 50/53 | €502,929 | €0 | -€502,929 | -100% |
| Cash at bank and in hand | 54/58 | €153,094 | €322,147 | +€169,053 | +110% |
| Deferred charges and accrued income | 490/1 | €17,536 | €19,137 | +€1,601 | +9.1% |
| Total equity and liabilities | 10/49 | €1,404,685 | €949,077 | -€455,608 | -32.4% |
| Equity | 10/15 | €1,180,370 | €546,249 | -€634,121 | -53.7% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €1,155,370 | €521,249 | -€634,121 | -54.9% |
| Distributable reserves | 133 | €1,155,370 | €521,249 | -€634,121 | -54.9% |
| Amounts payable | 17/49 | €224,315 | €402,829 | +€178,513 | +79.6% |
| Amounts payable within one year | 42/48 | €224,315 | €402,829 | +€178,513 | +79.6% |
| Trade debts | 44 | €86,435 | €53,984 | -€32,452 | -37.5% |
| Suppliers | 440/4 | €86,435 | €53,984 | -€32,452 | -37.5% |
| Taxes, remuneration and social security | 45 | €50,149 | €53,724 | +€3,576 | +7.1% |
| Taxes | 450/3 | €19,533 | €36,370 | +€16,837 | +86.2% |
| Remuneration and social security | 454/9 | €30,616 | €17,354 | -€13,261 | -43.3% |
| Other amounts payable | 47/48 | €87,731 | €295,121 | +€207,390 | +236% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €185,669 | €157,269 | -€28,401 | -15.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,512 | €105,196 | +€11,684 | +12.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€31,699 | -€6,061 | +€25,638 | +80.9% |
| Other operating charges | 640/8 | €20,090 | €25,395 | +€5,305 | +26.4% |
| Non-recurring operating charges | 66A | €0 | €0 | = | |
| Gross operating margin | 9900 | €534,545 | €511,929 | -€22,616 | -4.2% |
| Operating profit (loss) | 9901 | €266,973 | €230,130 | -€36,843 | -13.8% |
| Financial income | 75/76B | €41,339 | €48,968 | +€7,628 | +18.5% |
| Recurring financial income | 75 | €41,339 | €48,968 | +€7,628 | +18.5% |
| Financial charges | 65/66B | €216 | €723 | +€507 | +235% |
| Recurring financial charges | 65 | €216 | €723 | +€507 | +235% |
| Profit (loss) for the period before taxes | 9903 | €308,096 | €278,374 | -€29,722 | -9.6% |
| Income taxes | 67/77 | €93,461 | €88,599 | -€4,862 | -5.2% |
| Profit (loss) for the period | 9904 | €214,635 | €189,775 | -€24,860 | -11.6% |
| Profit (loss) for the period to be appropriated | 9905 | €214,635 | €189,775 | -€24,860 | -11.6% |
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 14 October 2026 via checked.be.