FIDAGH: 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.
What changed
FIDAGH
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€729,206
2024 · -€734,535+€5,329
Equity
€15.4m
2024 · €23.6m-€8.2m
Cash
€366,735
2024 · €258,902+€107,833
Balance sheet total
€29.6m
2024 · €30.6m-€1.0m
Largest movements
Assets
- Financial fixed assets -€773,230
down €773,230 (-4.0%), from €19.3m to €18.6m
of which Affiliated companies: -€760,002
- Current investments -€550,000
down €550,000 (-12.8%), from €4.3m to €3.8m
Equity and liabilities
- Profit (loss) carried forward -€8.2m
down €8.2m (-79.1%), from €10.4m to €2.2m
- Other debts +€7.5m
up €7.5m (+125.0%), from €6.0m to €13.5m
Income statement
- Other operating charges +€3.1m
up €3.1m (+311401.6%), from €1,001 to €3.1m
- Write-downs -€1.3m
down €1.3m, from €674,031 to -€580,281
- Financial charges -€810,627
down €810,627 (-80.1%), from -€1.0m to -€1.8m
of which Financial charges: -€1.6m
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.
Result 2024
-€734,535
Staff costs
+€32,341
Depreciation
+€119
Write-downs
+€1.3m
Other operating charges
-€3.1m
Other operating items
+€1.1m
Financial income
-€218,224
Financial charges
+€810,627
Taxes
+€95,403
Result 2025
-€729,206
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.
From operations
+€6.6m
Investment
+€1.3m
Financing
-€7.8m
Cash 2024
€258,902
From operations (derived)
+€6.6m
Net result for the year
-€729,206
Smaller working-capital items
-€32,122
Receivables within one year
-€70,278
Deferred charges and accrued income
-€118,479
Trade debts
-€40,395
Tax, wage and social debts
+€61,265
Other debts
+€7.5m
Investment (derived)
+€1.3m
Investment in fixed assets (net)
+€773,230
Current investments
+€550,000
Financing
-€7.8m
Debts after one year
-€286,181
Contributions, distributions and other
-€7.5m
Cash 2025
€366,735
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €30,633,949 | €29,622,116 | -€1.0m | -3.3% |
| Formation expenses | 20 | €0 | €0 | = | 0.0% |
| Fixed assets | 21/28 | €19,347,691 | €18,574,462 | -€773,230 | -4.0% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €19,347,691 | €18,574,462 | -€773,230 | -4.0% |
| Affiliated companies | 280/1 | €19,251,854 | €18,491,852 | -€760,002 | -3.9% |
| Participating interests | 280 | €19,251,854 | €18,491,852 | -€760,002 | -3.9% |
| Companies linked by participating interests | 282/3 | €0 | €0 | = | |
| Participating interests | 282 | €0 | €0 | = | |
| Other financial fixed assets | 284/8 | €95,837 | €82,610 | -€13,228 | -13.8% |
| Shares | 284 | €95,837 | €82,610 | -€13,228 | -13.8% |
| Current assets | 29/58 | €11,286,258 | €11,047,654 | -€238,604 | -2.1% |
| Amounts receivable after more than one year | 29 | €6,213,052 | €6,227,858 | +€14,806 | +0.2% |
| Other amounts receivable | 291 | €6,213,052 | €6,227,858 | +€14,806 | +0.2% |
| Amounts receivable within one year | 40/41 | €295,995 | €366,274 | +€70,278 | +23.7% |
| Trade receivables | 40 | €58,850 | €59,671 | +€821 | +1.4% |
| Other amounts receivable | 41 | €237,146 | €306,603 | +€69,457 | +29.3% |
| Current investments | 50/53 | €4,300,000 | €3,750,000 | -€550,000 | -12.8% |
| Other investments | 51/53 | €4,300,000 | €3,750,000 | -€550,000 | -12.8% |
| Cash at bank and in hand | 54/58 | €258,902 | €366,735 | +€107,833 | +41.6% |
| Deferred charges and accrued income | 490/1 | €218,308 | €336,787 | +€118,479 | +54.3% |
| Total equity and liabilities | 10/49 | €30,633,949 | €29,622,116 | -€1.0m | -3.3% |
| Equity | 10/15 | €23,623,290 | €15,394,084 | -€8.2m | -34.8% |
| Contributions | 10/11 | €11,928,631 | €11,928,631 | = | 0.0% |
| Capital | 10 | €11,928,631 | €11,928,631 | = | 0.0% |
| Issued capital | 100 | €11,928,631 | €11,928,631 | = | 0.0% |
| Reserves | 13 | €1,287,361 | €1,287,361 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,192,863 | €1,192,863 | = | 0.0% |
| Legal reserve | 130 | €1,192,863 | €1,192,863 | = | 0.0% |
| Distributable reserves | 133 | €94,498 | €94,498 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,407,298 | €2,178,092 | -€8.2m | -79.1% |
| Amounts payable | 17/49 | €7,010,659 | €14,228,031 | +€7.2m | +102.9% |
| Amounts payable after more than one year | 17 | €533,999 | €247,818 | -€286,181 | -53.6% |
| Other amounts payable | 178/9 | €533,999 | €247,818 | -€286,181 | -53.6% |
| Amounts payable within one year | 42/48 | €6,302,570 | €13,823,440 | +€7.5m | +119.3% |
| Trade debts | 44 | €302,570 | €262,175 | -€40,395 | -13.4% |
| Suppliers | 440/4 | €302,570 | €262,175 | -€40,395 | -13.4% |
| Taxes, remuneration and social security | 45 | €0 | €61,265 | +€61,265 | |
| Taxes | 450/3 | €0 | €61,265 | +€61,265 | |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €6,000,000 | €13,500,000 | +€7.5m | +125.0% |
| Accrued charges and deferred income | 492/3 | €174,090 | €156,774 | -€17,316 | -9.9% |
| Operating income | 70/76A | €37,062 | €9,857 | -€27,205 | -73.4% |
| Other operating income | 74 | €37,062 | €9,857 | -€27,205 | -73.4% |
| Operating charges | 60/66A | €2,266,465 | €2,921,737 | +€655,272 | +28.9% |
| Services and other goods | 61 | €533,959 | €384,465 | -€149,493 | -28.0% |
| Remuneration, social security and pensions | 62 | €32,322 | -€19 | -€32,341 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €119 | - | -€119 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €674,031 | -€580,281 | -€1.3m | |
| Other operating charges | 640/8 | €1,001 | €3,117,571 | +€3.1m | +311401.6% |
| Non-recurring operating charges | 66A | €1,025,034 | - | -€1.0m | |
| Operating profit (loss) | 9901 | -€2,229,403 | -€2,911,880 | -€682,477 | -30.6% |
| Financial income | 75/76B | €634,881 | €416,657 | -€218,224 | -34.4% |
| Recurring financial income | 75 | €634,881 | €375,430 | -€259,450 | -40.9% |
| Income from financial fixed assets | 750 | €962 | €8,603 | +€7,641 | +794.3% |
| Income from current assets | 751 | €633,914 | €366,344 | -€267,570 | -42.2% |
| Other financial income | 752/9 | €5 | €483 | +€478 | +9653.7% |
| Non-recurring financial income | 76B | - | €41,226 | +€41,226 | |
| Financial charges | 65/66B | -€1,012,454 | -€1,823,081 | -€810,627 | -80.1% |
| Recurring financial charges | 65 | -€1,012,454 | -€2,615,189 | -€1.6m | -158.3% |
| Debt charges | 650 | €11,760 | €10,843 | -€917 | -7.8% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | -€1,030,000 | -€2,975,000 | -€1.9m | -188.8% |
| Other financial charges | 652/9 | €5,786 | €348,967 | +€343,181 | +5931.2% |
| Non-recurring financial charges | 66B | - | €792,109 | +€792,109 | |
| Profit (loss) for the period before taxes | 9903 | -€582,068 | -€672,142 | -€90,074 | -15.5% |
| Income taxes | 67/77 | €152,467 | €57,063 | -€95,403 | -62.6% |
| Taxes | 670/3 | €152,467 | €57,352 | -€95,115 | -62.4% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | €289 | +€289 | |
| Profit (loss) for the period | 9904 | -€734,535 | -€729,206 | +€5,329 | +0.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€734,535 | -€729,206 | +€5,329 | +0.7% |
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 11 October 2026 via checked.be.