Fidelio Capital: 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.
Fidelio Capital
Largest movements
- Cash -€4,355
down €4,355 (-2.4%), from €183,198 to €178,843
mainly Other debts (-€50,609) and Investment in fixed assets (net) (-€25,992)
- Other debts -€50,609
down €50,609 (-96.7%), from €52,327 to €1,718
- Reserves +€27,285
up €27,285 (+19.9%), from €137,212 to €164,498
- Short-term financial debts +€25,000
up €25,000, from €0 to €25,000
- Debts after one year +€6,579
up €6,579 (+9.8%), from €67,428 to €74,007
- Tax, wage and social debts -€6,385
down €6,385 (-21.2%), from €30,176 to €23,791
of which Taxes: -€8,181
- Gross operating margin -€101,297
down €101,297 (-38.5%), from €263,039 to €161,741
- Taxes -€30,640
down €30,640 (-61.7%), from €49,653 to €19,012
- Staff costs -€3,279
down €3,279 (-3.7%), from €88,704 to €85,425
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 | €321,775 | €325,479 | +€3,703 | +1.2% |
| Fixed assets | 21/28 | €100,935 | €104,454 | +€3,519 | +3.5% |
| Intangible fixed assets | 21 | - | €2,478 | +€2,478 | |
| Tangible fixed assets | 22/27 | €100,435 | €101,476 | +€1,042 | +1.0% |
| Land and buildings | 22 | €76,313 | €73,145 | -€3,168 | -4.2% |
| Furniture and vehicles | 24 | €14,971 | €23,966 | +€8,994 | +60.1% |
| Leasing and similar rights | 25 | €9,150 | €3,197 | -€5,953 | -65.1% |
| Other tangible fixed assets | 26 | - | €1,169 | +€1,169 | |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €220,841 | €221,025 | +€184 | +0.1% |
| Amounts receivable within one year | 40/41 | €33,237 | €35,726 | +€2,490 | +7.5% |
| Trade receivables | 40 | €16,574 | €23,004 | +€6,430 | +38.8% |
| Other amounts receivable | 41 | €16,663 | €12,722 | -€3,940 | -23.6% |
| Cash at bank and in hand | 54/58 | €183,198 | €178,843 | -€4,355 | -2.4% |
| Deferred charges and accrued income | 490/1 | €4,407 | €6,456 | +€2,049 | +46.5% |
| Total equity and liabilities | 10/49 | €321,775 | €325,479 | +€3,703 | +1.2% |
| Equity | 10/15 | €149,612 | €176,898 | +€27,285 | +18.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €137,212 | €164,498 | +€27,285 | +19.9% |
| Distributable reserves | 133 | €137,212 | €164,498 | +€27,285 | +19.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €172,163 | €148,581 | -€23,582 | -13.7% |
| Amounts payable after more than one year | 17 | €67,428 | €74,007 | +€6,579 | +9.8% |
| Financial debts | 170/4 | €67,428 | €74,007 | +€6,579 | +9.8% |
| Amounts payable within one year | 42/48 | €104,666 | €74,574 | -€30,092 | -28.8% |
| Current portion of amounts payable after more than one year | 42 | €15,459 | €19,360 | +€3,901 | +25.2% |
| Financial debts | 43 | €0 | €25,000 | +€25,000 | |
| Credit institutions | 430/8 | €0 | €25,000 | +€25,000 | |
| Trade debts | 44 | €6,704 | €4,705 | -€1,999 | -29.8% |
| Suppliers | 440/4 | €6,704 | €4,705 | -€1,999 | -29.8% |
| Taxes, remuneration and social security | 45 | €30,176 | €23,791 | -€6,385 | -21.2% |
| Taxes | 450/3 | €18,725 | €10,545 | -€8,181 | -43.7% |
| Remuneration and social security | 454/9 | €11,450 | €13,246 | +€1,796 | +15.7% |
| Other amounts payable | 47/48 | €52,327 | €1,718 | -€50,609 | -96.7% |
| Accrued charges and deferred income | 492/3 | €69 | €0 | -€69 | -100% |
| Remuneration, social security and pensions | 62 | €88,704 | €85,425 | -€3,279 | -3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,149 | €22,473 | +€2,324 | +11.5% |
| Other operating charges | 640/8 | €2,276 | €2,165 | -€111 | -4.9% |
| Gross operating margin | 9900 | €263,039 | €161,741 | -€101,297 | -38.5% |
| Operating profit (loss) | 9901 | €151,910 | €51,679 | -€100,231 | -66.0% |
| Financial income | 75/76B | €291 | €0 | -€291 | -100% |
| Recurring financial income | 75 | €291 | €0 | -€291 | -100% |
| Financial charges | 65/66B | €5,133 | €3,663 | -€1,470 | -28.6% |
| Recurring financial charges | 65 | €5,133 | €3,663 | -€1,470 | -28.6% |
| Profit (loss) for the period before taxes | 9903 | €147,067 | €48,016 | -€99,052 | -67.4% |
| Income taxes | 67/77 | €49,653 | €19,012 | -€30,640 | -61.7% |
| Profit (loss) for the period | 9904 | €97,415 | €29,003 | -€68,411 | -70.2% |
| Profit (loss) for the period to be appropriated | 9905 | €97,415 | €29,003 | -€68,411 | -70.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.