FIDUCEL: 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.
FIDUCEL
Largest movements
- Tangible fixed assets -€56,064
down €56,064 (-3.7%), from €1.5m to €1.4m
of which Land and buildings: -€52,679
- Receivables within one year +€55,659
up €55,659 (+238.5%), from €23,333 to €78,992
of which Trade receivables: +€36,959
- Debts after one year -€83,580
down €83,580 (-19.6%), from €425,814 to €342,234
of which Financial debts: -€53,580
- Profit (loss) carried forward +€78,497
up €78,497 (+59.4%), from €132,097 to €210,594
- Short-term financial debts +€43,692
up €43,692 (+125.4%), from €34,850 to €78,542
- Current portion of long-term debt -€32,981
down €32,981 (-38.1%), from €86,561 to €53,580
- Revaluation surpluses -€31,861
down €31,861 (-3.1%), from €1.0m to €1.0m
- Gross operating margin +€95,836
up €95,836 (+84.1%), from €113,893 to €209,729
- Depreciation +€23,196
up €23,196 (+48.4%), from €47,952 to €71,148
- Taxes +€19,557
up €19,557 (+114.5%), from €17,074 to €36,631
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 | €1,906,172 | €1,898,273 | -€7,899 | -0.4% |
| Fixed assets | 21/28 | €1,879,186 | €1,815,625 | -€63,561 | -3.4% |
| Intangible fixed assets | 21 | €26,239 | €18,742 | -€7,497 | -28.6% |
| Tangible fixed assets | 22/27 | €1,495,392 | €1,439,328 | -€56,064 | -3.7% |
| Land and buildings | 22 | €1,439,380 | €1,386,700 | -€52,679 | -3.7% |
| Plant, machinery and equipment | 23 | €44,932 | €42,589 | -€2,343 | -5.2% |
| Furniture and vehicles | 24 | €5,676 | €5,434 | -€242 | -4.3% |
| Other tangible fixed assets | 26 | €5,405 | €4,605 | -€799 | -14.8% |
| Financial fixed assets | 28 | €357,554 | €357,554 | = | 0.0% |
| Current assets | 29/58 | €26,987 | €82,648 | +€55,661 | +206.3% |
| Amounts receivable within one year | 40/41 | €23,333 | €78,992 | +€55,659 | +238.5% |
| Trade receivables | 40 | €14,513 | €51,471 | +€36,959 | +254.7% |
| Other amounts receivable | 41 | €8,820 | €27,521 | +€18,701 | +212.0% |
| Cash at bank and in hand | 54/58 | €1 | €1 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €3,653 | €3,655 | +€2 | 0.0% |
| Total equity and liabilities | 10/49 | €1,906,172 | €1,898,273 | -€7,899 | -0.4% |
| Equity | 10/15 | €1,269,037 | €1,347,533 | +€78,497 | +6.2% |
| Contributions | 10/11 | €22,000 | €22,000 | = | 0.0% |
| Revaluation surpluses | 12 | €1,040,796 | €1,008,935 | -€31,861 | -3.1% |
| Reserves | 13 | €74,143 | €106,005 | +€31,861 | +43.0% |
| Tax-exempt reserves | 132 | €63,523 | €63,523 | = | 0.0% |
| Distributable reserves | 133 | €10,620 | €42,481 | +€31,861 | +300.0% |
| Profit (loss) carried forward | 14 | €132,097 | €210,594 | +€78,497 | +59.4% |
| Amounts payable | 17/49 | €637,136 | €550,740 | -€86,396 | -13.6% |
| Amounts payable after more than one year | 17 | €425,814 | €342,234 | -€83,580 | -19.6% |
| Financial debts | 170/4 | €165,374 | €111,794 | -€53,580 | -32.4% |
| Other amounts payable | 178/9 | €260,440 | €230,440 | -€30,000 | -11.5% |
| Amounts payable within one year | 42/48 | €195,220 | €184,131 | -€11,089 | -5.7% |
| Current portion of amounts payable after more than one year | 42 | €86,561 | €53,580 | -€32,981 | -38.1% |
| Financial debts | 43 | €34,850 | €78,542 | +€43,692 | +125.4% |
| Credit institutions | 430/8 | €34,850 | €78,542 | +€43,692 | +125.4% |
| Trade debts | 44 | €17,329 | €222 | -€17,108 | -98.7% |
| Suppliers | 440/4 | €17,329 | €222 | -€17,108 | -98.7% |
| Taxes, remuneration and social security | 45 | €25,818 | €32,962 | +€7,144 | +27.7% |
| Taxes | 450/3 | €25,818 | €32,962 | +€7,144 | +27.7% |
| Other amounts payable | 47/48 | €30,662 | €18,825 | -€11,837 | -38.6% |
| Accrued charges and deferred income | 492/3 | €16,102 | €24,375 | +€8,273 | +51.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,952 | €71,148 | +€23,196 | +48.4% |
| Other operating charges | 640/8 | €6,123 | €6,391 | +€268 | +4.4% |
| Gross operating margin | 9900 | €113,893 | €209,729 | +€95,836 | +84.1% |
| Operating profit (loss) | 9901 | €59,819 | €132,190 | +€72,372 | +121.0% |
| Financial income | 75/76B | €882 | €701 | -€181 | -20.5% |
| Recurring financial income | 75 | €882 | €701 | -€181 | -20.5% |
| Financial charges | 65/66B | €19,180 | €17,764 | -€1,417 | -7.4% |
| Recurring financial charges | 65 | €19,180 | €17,764 | -€1,417 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | €41,520 | €115,127 | +€73,608 | +177.3% |
| Income taxes | 67/77 | €17,074 | €36,631 | +€19,557 | +114.5% |
| Profit (loss) for the period | 9904 | €24,446 | €78,497 | +€54,051 | +221.1% |
| Profit (loss) for the period to be appropriated | 9905 | €24,446 | €78,497 | +€54,051 | +221.1% |
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 2 October 2026 via checked.be.