FIDESCA: 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.
FIDESCA
Largest movements
- Tangible fixed assets +€95,785
up €95,785 (+25.2%), from €379,456 to €475,241
of which Other tangible fixed assets: +€91,245
- Cash -€50,088
down €50,088 (-99.9%), from €50,130 to €42
mainly Investment in fixed assets (net) (-€129,675) and Receivables within one year (-€28,595)
- Receivables within one year +€28,595
up €28,595 (+129.5%), from €22,080 to €50,676
- Intangible fixed assets -€15,375
down €15,375 (-35.4%), from €43,404 to €28,029
- Reserves +€49,533
up €49,533 (+34.3%), from €144,400 to €193,933
- Debts after one year +€20,951
up €20,951 (+11.0%), from €189,643 to €210,594
- Trade debts -€13,624
down €13,624 (-67.8%), from €20,105 to €6,481
- Current portion of long-term debt +€9,587
up €9,587 (+21.6%), from €44,462 to €54,049
- Tax, wage and social debts -€8,834
down €8,834 (-19.4%), from €45,578 to €36,744
of which Taxes: -€15,161
- Gross operating margin +€22,026
up €22,026 (+6.6%), from €335,771 to €357,797
- Depreciation +€15,033
up €15,033 (+43.5%), from €34,532 to €49,565
- Taxes +€8,966
up €8,966 (+73.1%), from €12,269 to €21,236
- Financial charges +€7,702
up €7,702 (+162.5%), from €4,738 to €12,440
of which Financial charges: +€9,632
- Staff costs +€7,547
up €7,547 (+3.5%), from €213,249 to €220,796
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 | €497,101 | €554,618 | +€57,517 | +11.6% |
| Fixed assets | 21/28 | €423,390 | €503,500 | +€80,110 | +18.9% |
| Intangible fixed assets | 21 | €43,404 | €28,029 | -€15,375 | -35.4% |
| Tangible fixed assets | 22/27 | €379,456 | €475,241 | +€95,785 | +25.2% |
| Land and buildings | 22 | €165,686 | €164,796 | -€890 | -0.5% |
| Plant, machinery and equipment | 23 | €965 | €1,483 | +€518 | +53.7% |
| Furniture and vehicles | 24 | €4,607 | €9,519 | +€4,912 | +106.6% |
| Other tangible fixed assets | 26 | €208,197 | €299,442 | +€91,245 | +43.8% |
| Financial fixed assets | 28 | €530 | €230 | -€300 | -56.6% |
| Current assets | 29/58 | €73,711 | €51,118 | -€22,593 | -30.7% |
| Amounts receivable within one year | 40/41 | €22,080 | €50,676 | +€28,595 | +129.5% |
| Trade receivables | 40 | €22,080 | €50,676 | +€28,595 | +129.5% |
| Cash at bank and in hand | 54/58 | €50,130 | €42 | -€50,088 | -99.9% |
| Deferred charges and accrued income | 490/1 | €1,500 | €400 | -€1,100 | -73.3% |
| Total equity and liabilities | 10/49 | €497,101 | €554,618 | +€57,517 | +11.6% |
| Equity | 10/15 | €165,083 | €214,615 | +€49,532 | +30.0% |
| Contributions | 10/11 | €6,605 | €6,605 | -€0 | 0.0% |
| Reserves | 13 | €144,400 | €193,933 | +€49,533 | +34.3% |
| Distributable reserves | 133 | €144,400 | €193,933 | +€49,533 | +34.3% |
| Profit (loss) carried forward | 14 | €14,077 | €14,077 | = | 0.0% |
| Amounts payable | 17/49 | €332,018 | €340,003 | +€7,985 | +2.4% |
| Amounts payable after more than one year | 17 | €189,643 | €210,594 | +€20,951 | +11.0% |
| Financial debts | 170/4 | €189,643 | €210,594 | +€20,951 | +11.0% |
| Amounts payable within one year | 42/48 | €142,186 | €128,836 | -€13,349 | -9.4% |
| Current portion of amounts payable after more than one year | 42 | €44,462 | €54,049 | +€9,587 | +21.6% |
| Financial debts | 43 | €21,792 | €21,834 | +€42 | +0.2% |
| Credit institutions | 430/8 | €21,792 | €21,834 | +€42 | +0.2% |
| Trade debts | 44 | €20,105 | €6,481 | -€13,624 | -67.8% |
| Suppliers | 440/4 | €20,105 | €6,481 | -€13,624 | -67.8% |
| Taxes, remuneration and social security | 45 | €45,578 | €36,744 | -€8,834 | -19.4% |
| Taxes | 450/3 | €24,500 | €9,339 | -€15,161 | -61.9% |
| Remuneration and social security | 454/9 | €21,078 | €27,405 | +€6,327 | +30.0% |
| Other amounts payable | 47/48 | €10,249 | €9,729 | -€520 | -5.1% |
| Accrued charges and deferred income | 492/3 | €190 | €573 | +€383 | +202.1% |
| Non-recurring operating income | 76A | €13,616 | €0 | -€13,616 | -100.0% |
| Remuneration, social security and pensions | 62 | €213,249 | €220,796 | +€7,547 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,532 | €49,565 | +€15,033 | +43.5% |
| Other operating charges | 640/8 | €1,161 | €2,593 | +€1,433 | +123.4% |
| Non-recurring operating charges | 66A | €34,145 | €0 | -€34,145 | -100.0% |
| Gross operating margin | 9900 | €335,771 | €357,797 | +€22,026 | +6.6% |
| Operating profit (loss) | 9901 | €52,684 | €84,842 | +€32,158 | +61.0% |
| Financial income | 75/76B | €457 | €32 | -€425 | -93.0% |
| Recurring financial income | 75 | €455 | €32 | -€423 | -93.0% |
| Non-recurring financial income | 76B | €2 | €0 | -€2 | -100.0% |
| Financial charges | 65/66B | €4,738 | €12,440 | +€7,702 | +162.5% |
| Recurring financial charges | 65 | €2,808 | €12,440 | +€9,632 | +343.0% |
| Non-recurring financial charges | 66B | €1,930 | €0 | -€1,930 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €48,403 | €72,434 | +€24,031 | +49.6% |
| Income taxes | 67/77 | €12,269 | €21,236 | +€8,966 | +73.1% |
| Profit (loss) for the period | 9904 | €36,134 | €51,199 | +€15,065 | +41.7% |
| Profit (loss) for the period to be appropriated | 9905 | €36,134 | €51,199 | +€15,065 | +41.7% |
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 7 October 2026 via checked.be.