FIDELIA: 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.
FIDELIA
Largest movements
- Cash +€88,319
up €88,319 (+487%), from €18,117 to €106,436
mainly Net result for the year (+€89,678) and Depreciation (+€67,242)
- Tangible fixed assets -€46,068
down €46,068 (-15.0%), from €306,621 to €260,553
of which Land and buildings: -€43,203
- Receivables within one year -€12,827
down €12,827 (-8.4%), from €152,915 to €140,088
of which Other amounts receivable: -€10,111
- Intangible fixed assets -€5,833
down €5,833 (-11.1%), from €52,460 to €46,627
- Short-term financial debts +€60,540
up €60,540 (+374%), from €16,189 to €76,729
of which Other loans: +€40,540
- Debts after one year -€41,076
down €41,076 (-16.9%), from €242,437 to €201,361
- Trade debts -€21,684
down €21,684 (-54.5%), from €39,810 to €18,126
- Tax, wage and social debts +€20,595
up €20,595 (+16.3%), from €126,571 to €147,166
of which Taxes: +€24,295
- Profit (loss) carried forward +€19,414
no longer reported in 2025 (was -€19,414)
- Staff costs -€96,959
down €96,959 (-11.9%), from €814,131 to €717,172
- Gross operating margin +€24,323
up €24,323 (+2.7%), from €886,987 to €911,310
- Taxes +€15,975
up €15,975 (+239%), from €6,673 to €22,649
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 | €536,036 | €557,324 | +€21,288 | +4.0% |
| Fixed assets | 21/28 | €359,081 | €307,180 | -€51,901 | -14.5% |
| Intangible fixed assets | 21 | €52,460 | €46,627 | -€5,833 | -11.1% |
| Tangible fixed assets | 22/27 | €306,621 | €260,553 | -€46,068 | -15.0% |
| Land and buildings | 22 | €296,037 | €252,834 | -€43,203 | -14.6% |
| Plant, machinery and equipment | 23 | €4,597 | €4,031 | -€567 | -12.3% |
| Furniture and vehicles | 24 | €5,987 | €3,688 | -€2,298 | -38.4% |
| Current assets | 29/58 | €176,955 | €250,144 | +€73,189 | +41.4% |
| Amounts receivable within one year | 40/41 | €152,915 | €140,088 | -€12,827 | -8.4% |
| Trade receivables | 40 | €114,478 | €111,761 | -€2,716 | -2.4% |
| Other amounts receivable | 41 | €38,437 | €28,327 | -€10,111 | -26.3% |
| Cash at bank and in hand | 54/58 | €18,117 | €106,436 | +€88,319 | +487% |
| Deferred charges and accrued income | 490/1 | €5,924 | €3,621 | -€2,303 | -38.9% |
| Total equity and liabilities | 10/49 | €536,036 | €557,324 | +€21,288 | +4.0% |
| Equity | 10/15 | -€6,192 | €18,486 | +€24,678 | |
| Contributions | 10/11 | €13,222 | €13,222 | = | 0.0% |
| Reserves | 13 | - | €5,264 | +€5,264 | |
| Distributable reserves | 133 | - | €5,264 | +€5,264 | |
| Profit (loss) carried forward | 14 | -€19,414 | - | +€19,414 | |
| Amounts payable | 17/49 | €542,228 | €538,838 | -€3,390 | -0.6% |
| Amounts payable after more than one year | 17 | €242,437 | €201,361 | -€41,076 | -16.9% |
| Financial debts | 170/4 | €242,437 | €201,361 | -€41,076 | -16.9% |
| Amounts payable within one year | 42/48 | €299,791 | €337,477 | +€37,686 | +12.6% |
| Current portion of amounts payable after more than one year | 42 | €43,661 | €41,067 | -€2,594 | -5.9% |
| Financial debts | 43 | €16,189 | €76,729 | +€60,540 | +374% |
| Credit institutions | 430/8 | - | €20,000 | +€20,000 | |
| Other loans | 439 | €16,189 | €56,729 | +€40,540 | +250% |
| Trade debts | 44 | €39,810 | €18,126 | -€21,684 | -54.5% |
| Suppliers | 440/4 | €39,810 | €18,126 | -€21,684 | -54.5% |
| Taxes, remuneration and social security | 45 | €126,571 | €147,166 | +€20,595 | +16.3% |
| Taxes | 450/3 | - | €24,295 | +€24,295 | |
| Remuneration and social security | 454/9 | €126,571 | €122,871 | -€3,700 | -2.9% |
| Other amounts payable | 47/48 | €73,561 | €54,390 | -€19,171 | -26.1% |
| Remuneration, social security and pensions | 62 | €814,131 | €717,172 | -€96,959 | -11.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,220 | €67,242 | +€3,022 | +4.7% |
| Other operating charges | 640/8 | €7,710 | €640 | -€7,070 | -91.7% |
| Gross operating margin | 9900 | €886,987 | €911,310 | +€24,323 | +2.7% |
| Operating profit (loss) | 9901 | €926 | €126,256 | +€125,330 | +13,536% |
| Financial income | 75/76B | €3,590 | €111 | -€3,479 | -96.9% |
| Recurring financial income | 75 | €3,590 | €111 | -€3,479 | -96.9% |
| Financial charges | 65/66B | €17,257 | €14,041 | -€3,217 | -18.6% |
| Recurring financial charges | 65 | €17,257 | €14,041 | -€3,217 | -18.6% |
| Profit (loss) for the period before taxes | 9903 | -€12,741 | €112,327 | +€125,068 | |
| Income taxes | 67/77 | €6,673 | €22,649 | +€15,975 | +239% |
| Profit (loss) for the period | 9904 | -€19,414 | €89,678 | +€109,092 | |
| Profit (loss) for the period to be appropriated | 9905 | -€19,414 | €89,678 | +€109,092 |
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 20 October 2026 via checked.be.