FIDES: what changed
Two fiscal 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.
FIDES
Largest movements
- Receivables within one year +€567,838
up €567,838 (+4939.5%), from €11,496 to €579,334
of which Trade receivables: +€501,589
- Stocks and contracts +€142,491
up €142,491 (+14.6%), from €976,169 to €1.1m
- Cash -€114,812
down €114,812 (-57.9%), from €198,211 to €83,399
mainly Receivables within one year (-€567,838) and Stocks and contracts (-€142,491)
- Tangible fixed assets -€37,775
down €37,775 (-15.2%), from €248,122 to €210,346
of which Land and buildings: -€219,964
- Intangible fixed assets +€22,461
up €22,461 (+1215.6%), from €1,848 to €24,309
- Trade debts +€537,122
up €537,122 (+122.7%), from €437,636 to €974,758
- Advances received +€105,797
up €105,797 (+66.8%), from €158,307 to €264,105
- Tax, wage and social debts -€30,469
down €30,469 (-58.6%), from €51,955 to €21,486
of which Taxes: -€30,878
- Accrued charges and deferred income -€23,456
down €23,456 (-61.8%), from €37,937 to €14,481
- Write-downs -€104,687
down €104,687 (-90.5%), from €115,635 to €10,948
- Gross operating margin -€103,464
down €103,464 (-29.9%), from €346,059 to €242,595
- Depreciation -€7,240
down €7,240 (-13.7%), from €52,978 to €45,739
- Staff costs +€6,404
up €6,404 (+4.2%), from €153,676 to €160,080
- Other operating charges +€3,957
up €3,957 (+27.5%), from €14,388 to €18,346
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,439,325 | €2,023,393 | +€584,068 | +40.6% |
| Fixed assets | 21/28 | €253,448 | €238,134 | -€15,314 | -6.0% |
| Intangible fixed assets | 21 | €1,848 | €24,309 | +€22,461 | +1215.6% |
| Tangible fixed assets | 22/27 | €248,122 | €210,346 | -€37,775 | -15.2% |
| Land and buildings | 22 | €219,964 | €0 | -€219,964 | -100.0% |
| Plant, machinery and equipment | 23 | €16,205 | €11,091 | -€5,114 | -31.6% |
| Furniture and vehicles | 24 | €11,953 | €8,718 | -€3,234 | -27.1% |
| Other tangible fixed assets | 26 | - | €190,536 | +€190,536 | |
| Financial fixed assets | 28 | €3,479 | €3,479 | = | 0.0% |
| Current assets | 29/58 | €1,185,877 | €1,785,259 | +€599,382 | +50.5% |
| Stocks and contracts in progress | 3 | €976,169 | €1,118,660 | +€142,491 | +14.6% |
| Stocks | 30/36 | €976,169 | €1,118,660 | +€142,491 | +14.6% |
| Amounts receivable within one year | 40/41 | €11,496 | €579,334 | +€567,838 | +4939.5% |
| Trade receivables | 40 | €3,436 | €505,026 | +€501,589 | +14596.6% |
| Other amounts receivable | 41 | €8,060 | €74,308 | +€66,248 | +822.0% |
| Cash at bank and in hand | 54/58 | €198,211 | €83,399 | -€114,812 | -57.9% |
| Deferred charges and accrued income | 490/1 | - | €3,866 | +€3,866 | |
| Total equity and liabilities | 10/49 | €1,439,325 | €2,023,393 | +€584,068 | +40.6% |
| Equity | 10/15 | €746,506 | €748,564 | +€2,058 | +0.3% |
| Contributions | 10/11 | €33,988 | €33,988 | = | 0.0% |
| Reserves | 13 | €712,517 | €714,575 | +€2,058 | +0.3% |
| Distributable reserves | 133 | €712,517 | €714,575 | +€2,058 | +0.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €692,819 | €1,274,830 | +€582,010 | +84.0% |
| Amounts payable within one year | 42/48 | €654,883 | €1,260,349 | +€605,466 | +92.5% |
| Current portion of amounts payable after more than one year | 42 | €3,381 | €0 | -€3,381 | -100.0% |
| Trade debts | 44 | €437,636 | €974,758 | +€537,122 | +122.7% |
| Suppliers | 440/4 | €437,636 | €974,758 | +€537,122 | +122.7% |
| Advances received on contracts in progress | 46 | €158,307 | €264,105 | +€105,797 | +66.8% |
| Taxes, remuneration and social security | 45 | €51,955 | €21,486 | -€30,469 | -58.6% |
| Taxes | 450/3 | €30,912 | €35 | -€30,878 | -99.9% |
| Remuneration and social security | 454/9 | €21,043 | €21,452 | +€409 | +1.9% |
| Other amounts payable | 47/48 | €3,603 | €0 | -€3,603 | -100.0% |
| Accrued charges and deferred income | 492/3 | €37,937 | €14,481 | -€23,456 | -61.8% |
| Non-recurring operating income | 76A | - | €7,000 | +€7,000 | |
| Remuneration, social security and pensions | 62 | €153,676 | €160,080 | +€6,404 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,978 | €45,739 | -€7,240 | -13.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €115,635 | €10,948 | -€104,687 | -90.5% |
| Other operating charges | 640/8 | €14,388 | €18,346 | +€3,957 | +27.5% |
| Gross operating margin | 9900 | €346,059 | €242,595 | -€103,464 | -29.9% |
| Operating profit (loss) | 9901 | €9,381 | €7,483 | -€1,898 | -20.2% |
| Financial income | 75/76B | €11,908 | €13,779 | +€1,871 | +15.7% |
| Recurring financial income | 75 | €11,908 | €13,779 | +€1,871 | +15.7% |
| Financial charges | 65/66B | €7,114 | €10,471 | +€3,357 | +47.2% |
| Recurring financial charges | 65 | €7,114 | €10,471 | +€3,357 | +47.2% |
| Profit (loss) for the period before taxes | 9903 | €14,175 | €10,791 | -€3,384 | -23.9% |
| Income taxes | 67/77 | €6,540 | €8,733 | +€2,193 | +33.5% |
| Profit (loss) for the period | 9904 | €7,635 | €2,058 | -€5,577 | -73.0% |
| Profit (loss) for the period to be appropriated | 9905 | €7,635 | €2,058 | -€5,577 | -73.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.