FIDUMAR: 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.
FIDUMAR
Largest movements
- Current investments -€300,000
down €300,000 (-100.0%), from €300,000 to €0
- Receivables within one year +€191,519
up €191,519 (+49.1%), from €389,684 to €581,203
of which Trade receivables: +€108,275
- Financial fixed assets +€131,906
new in 2025: €131,906
- Tangible fixed assets -€75,648
down €75,648 (-13.0%), from €583,582 to €507,934
of which Land and buildings: -€64,904
- Cash -€25,269
down €25,269 (-21.3%), from €118,600 to €93,331
mainly Receivables within one year (-€191,519) and Investment in fixed assets (net) (-€104,717)
- Debts after one year -€75,389
down €75,389 (-13.7%), from €550,865 to €475,476
of which Financial debts: -€75,389
- Trade debts +€23,623
up €23,623 (+66.5%), from €35,501 to €59,124
- Tax, wage and social debts -€17,573
down €17,573 (-85.4%), from €20,583 to €3,010
of which Taxes: -€16,934
- Taxes +€59,412
up €59,412 (+311.4%), from €19,077 to €78,489
- Gross operating margin -€44,089
down €44,089 (-18.2%), from €241,713 to €197,624
- Depreciation -€15,313
down €15,313 (-24.0%), from €63,771 to €48,458
- Staff costs -€5,778
down €5,778 (-100.0%), from €5,778 to €0
- Financial charges -€3,045
down €3,045 (-10.5%), from €28,980 to €25,936
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 | €1,391,866 | €1,319,574 | -€72,293 | -5.2% |
| Fixed assets | 21/28 | €583,582 | €639,840 | +€56,258 | +9.6% |
| Tangible fixed assets | 22/27 | €583,582 | €507,934 | -€75,648 | -13.0% |
| Land and buildings | 22 | €572,838 | €507,934 | -€64,904 | -11.3% |
| Furniture and vehicles | 24 | €10,744 | €0 | -€10,744 | -100.0% |
| Financial fixed assets | 28 | - | €131,906 | +€131,906 | |
| Current assets | 29/58 | €808,284 | €679,734 | -€128,551 | -15.9% |
| Amounts receivable within one year | 40/41 | €389,684 | €581,203 | +€191,519 | +49.1% |
| Trade receivables | 40 | €18,627 | €126,902 | +€108,275 | +581.3% |
| Other amounts receivable | 41 | €371,057 | €454,301 | +€83,243 | +22.4% |
| Current investments | 50/53 | €300,000 | €0 | -€300,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €118,600 | €93,331 | -€25,269 | -21.3% |
| Deferred charges and accrued income | 490/1 | €0 | €5,200 | +€5,200 | |
| Total equity and liabilities | 10/49 | €1,391,866 | €1,319,574 | -€72,293 | -5.2% |
| Equity | 10/15 | €712,996 | €726,727 | +€13,731 | +1.9% |
| Contributions | 10/11 | €60 | €60 | = | 0.0% |
| Reserves | 13 | €712,936 | €726,667 | +€13,731 | +1.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €711,076 | €724,807 | +€13,731 | +1.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €678,870 | €592,847 | -€86,023 | -12.7% |
| Amounts payable after more than one year | 17 | €550,865 | €475,476 | -€75,389 | -13.7% |
| Financial debts | 170/4 | €550,865 | €475,476 | -€75,389 | -13.7% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €108,117 | €102,057 | -€6,060 | -5.6% |
| Current portion of amounts payable after more than one year | 42 | €38,473 | €35,500 | -€2,972 | -7.7% |
| Trade debts | 44 | €35,501 | €59,124 | +€23,623 | +66.5% |
| Suppliers | 440/4 | €35,501 | €59,124 | +€23,623 | +66.5% |
| Taxes, remuneration and social security | 45 | €20,583 | €3,010 | -€17,573 | -85.4% |
| Taxes | 450/3 | €16,934 | €0 | -€16,934 | -100.0% |
| Remuneration and social security | 454/9 | €3,649 | €3,010 | -€639 | -17.5% |
| Other amounts payable | 47/48 | €13,561 | €4,423 | -€9,138 | -67.4% |
| Accrued charges and deferred income | 492/3 | €19,888 | €15,314 | -€4,574 | -23.0% |
| Non-recurring operating income | 76A | - | €26,754 | +€26,754 | |
| Remuneration, social security and pensions | 62 | €5,778 | €0 | -€5,778 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,771 | €48,458 | -€15,313 | -24.0% |
| Other operating charges | 640/8 | €2,129 | €1,814 | -€315 | -14.8% |
| Gross operating margin | 9900 | €241,713 | €197,624 | -€44,089 | -18.2% |
| Operating profit (loss) | 9901 | €170,035 | €147,352 | -€22,683 | -13.3% |
| Financial income | 75/76B | €9,608 | €10,832 | +€1,224 | +12.7% |
| Recurring financial income | 75 | €9,608 | €10,832 | +€1,224 | +12.7% |
| Financial charges | 65/66B | €28,980 | €25,936 | -€3,045 | -10.5% |
| Recurring financial charges | 65 | €28,980 | €25,936 | -€3,045 | -10.5% |
| Profit (loss) for the period before taxes | 9903 | €150,662 | €132,248 | -€18,414 | -12.2% |
| Income taxes | 67/77 | €19,077 | €78,489 | +€59,412 | +311.4% |
| Profit (loss) for the period | 9904 | €131,586 | €53,759 | -€77,827 | -59.1% |
| Profit (loss) for the period to be appropriated | 9905 | €131,586 | €53,759 | -€77,827 | -59.1% |
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 9 October 2026 via checked.be.