FIDES INVEST: 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.
FIDES INVEST
Largest movements
- Stocks and contracts +€4.7m
up €4.7m (+68.2%), from €6.9m to €11.6m
- Cash +€1.3m
up €1.3m (+1,389%), from €92,845 to €1.4m
mainly Debts after one year (+€4.7m) and Other debts (+€2.3m)
- Receivables within one year +€1.1m
up €1.1m (+14.4%), from €7.8m to €8.9m
of which Trade receivables: +€891,131
- Receivables after one year -€800,000
down €800,000 (-99.2%), from €806,360 to €6,360
- Debts after one year +€4.7m
up €4.7m (+77.6%), from €6.1m to €10.9m
of which Financial debts: +€4.7m
- Other debts +€2.3m
up €2.3m (+51.8%), from €4.5m to €6.8m
- Short-term financial debts -€642,018
down €642,018 (-10.7%), from €6.0m to €5.4m
- Other operating charges +€252,812
up €252,812 (+428%), from €59,066 to €311,878
- Gross operating margin +€222,888
up €222,888 (+44.0%), from €506,139 to €729,027
- Staff costs -€65,604
down €65,604 (-30.0%), from €218,753 to €153,149
- Financial charges +€18,771
up €18,771 (+3.1%), from €600,191 to €618,962
- Financial income +€18,633
up €18,633 (+4.0%), from €468,072 to €486,705
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 | €21,204,866 | €27,517,675 | +€6.3m | +29.8% |
| Fixed assets | 21/28 | €5,604,918 | €5,605,154 | +€236 | 0.0% |
| Tangible fixed assets | 22/27 | €586 | €822 | +€236 | +40.2% |
| Plant, machinery and equipment | 23 | €513 | €419 | -€94 | -18.4% |
| Furniture and vehicles | 24 | €73 | €404 | +€330 | +450% |
| Financial fixed assets | 28 | €5,604,332 | €5,604,332 | = | 0.0% |
| Current assets | 29/58 | €15,599,948 | €21,912,521 | +€6.3m | +40.5% |
| Amounts receivable after more than one year | 29 | €806,360 | €6,360 | -€800,000 | -99.2% |
| Other amounts receivable | 291 | €806,360 | €6,360 | -€800,000 | -99.2% |
| Stocks and contracts in progress | 3 | €6,897,541 | €11,603,917 | +€4.7m | +68.2% |
| Stocks | 30/36 | €6,897,541 | €11,603,917 | +€4.7m | +68.2% |
| Amounts receivable within one year | 40/41 | €7,797,610 | €8,917,246 | +€1.1m | +14.4% |
| Trade receivables | 40 | €74,779 | €965,910 | +€891,131 | +1,192% |
| Other amounts receivable | 41 | €7,722,831 | €7,951,336 | +€228,505 | +3.0% |
| Cash at bank and in hand | 54/58 | €92,845 | €1,382,697 | +€1.3m | +1,389% |
| Deferred charges and accrued income | 490/1 | €5,591 | €2,300 | -€3,291 | -58.9% |
| Total equity and liabilities | 10/49 | €21,204,866 | €27,517,675 | +€6.3m | +29.8% |
| Equity | 10/15 | €3,954,939 | €4,038,811 | +€83,872 | +2.1% |
| Contributions | 10/11 | €818,600 | €818,600 | = | 0.0% |
| Reserves | 13 | €3,136,339 | €3,220,211 | +€83,872 | +2.7% |
| Distributable reserves | 133 | €3,136,339 | €3,220,211 | +€83,872 | +2.7% |
| Amounts payable | 17/49 | €17,249,927 | €23,478,864 | +€6.2m | +36.1% |
| Amounts payable after more than one year | 17 | €6,109,708 | €10,852,321 | +€4.7m | +77.6% |
| Financial debts | 170/4 | €6,103,373 | €10,845,716 | +€4.7m | +77.7% |
| Other amounts payable | 178/9 | €6,335 | €6,605 | +€270 | +4.3% |
| Amounts payable within one year | 42/48 | €10,998,001 | €12,520,912 | +€1.5m | +13.8% |
| Current portion of amounts payable after more than one year | 42 | €56,250 | €57,656 | +€1,406 | +2.5% |
| Financial debts | 43 | €6,000,000 | €5,357,982 | -€642,018 | -10.7% |
| Credit institutions | 430/8 | €6,000,000 | €5,357,982 | -€642,018 | -10.7% |
| Trade debts | 44 | €328,042 | €128,062 | -€199,980 | -61.0% |
| Suppliers | 440/4 | €328,042 | €128,062 | -€199,980 | -61.0% |
| Advances received on contracts in progress | 46 | €500 | €20,000 | +€19,500 | +3,900% |
| Taxes, remuneration and social security | 45 | €120,631 | €136,271 | +€15,641 | +13.0% |
| Taxes | 450/3 | €108,346 | €124,183 | +€15,838 | +14.6% |
| Remuneration and social security | 454/9 | €12,285 | €12,088 | -€197 | -1.6% |
| Other amounts payable | 47/48 | €4,492,578 | €6,820,940 | +€2.3m | +51.8% |
| Accrued charges and deferred income | 492/3 | €142,218 | €105,632 | -€36,586 | -25.7% |
| Non-recurring operating income | 76A | €4,000 | €0 | -€4,000 | -100% |
| Remuneration, social security and pensions | 62 | €218,753 | €153,149 | -€65,604 | -30.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,434 | €178 | -€1,256 | -87.6% |
| Other operating charges | 640/8 | €59,066 | €311,878 | +€252,812 | +428% |
| Non-recurring operating charges | 66A | €5,050 | €0 | -€5,050 | -100% |
| Gross operating margin | 9900 | €506,139 | €729,027 | +€222,888 | +44.0% |
| Operating profit (loss) | 9901 | €221,836 | €263,822 | +€41,986 | +18.9% |
| Financial income | 75/76B | €468,072 | €486,705 | +€18,633 | +4.0% |
| Recurring financial income | 75 | €468,072 | €486,705 | +€18,633 | +4.0% |
| Financial charges | 65/66B | €600,191 | €618,962 | +€18,771 | +3.1% |
| Recurring financial charges | 65 | €600,191 | €618,962 | +€18,771 | +3.1% |
| Profit (loss) for the period before taxes | 9903 | €89,717 | €131,565 | +€41,848 | +46.6% |
| Income taxes | 67/77 | €37,653 | €47,693 | +€10,040 | +26.7% |
| Profit (loss) for the period | 9904 | €52,063 | €83,872 | +€31,808 | +61.1% |
| Profit (loss) for the period to be appropriated | 9905 | €52,063 | €83,872 | +€31,808 | +61.1% |
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.