FIDUNOT EXPERTISE: what changed
FIDUNOT EXPERTISE
Largest movements
- Receivables within one year +€597,237
up €597,237 (+52.9%), from €1.1m to €1.7m
of which Trade receivables: +€682,761
- Current investments +€361,953
up €361,953 (+14.6%), from €2.5m to €2.8m
- Cash -€348,942
down €348,942 (-66.2%), from €526,727 to €177,785
mainly Receivables within one year (-€597,237) and Current investments (-€361,953)
- Financial fixed assets +€337,000
up €337,000 (+108%), from €311,615 to €648,615
- Reserves +€803,023
up €803,023 (+20.3%), from €4.0m to €4.8m
- Tax, wage and social debts +€190,676
up €190,676 (+62.8%), from €303,430 to €494,106
of which Taxes: +€181,057
- Other debts -€84,858
down €84,858 (-47.6%), from €178,179 to €93,320
- Gross operating margin +€145,460
up €145,460 (+8.4%), from €1.7m to €1.9m
- Staff costs +€67,955
up €67,955 (+11.1%), from €612,522 to €680,477
- Taxes +€33,696
up €33,696 (+9.3%), from €362,630 to €396,326
- Financial charges +€19,105
up €19,105 (+89.6%), from €21,316 to €40,421
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,523,847 | €5,469,265 | +€945,418 | +20.9% |
| Fixed assets | 21/28 | €391,232 | €716,401 | +€325,170 | +83.1% |
| Tangible fixed assets | 22/27 | €79,617 | €67,787 | -€11,830 | -14.9% |
| Furniture and vehicles | 24 | €16,826 | €11,153 | -€5,673 | -33.7% |
| Other tangible fixed assets | 26 | €62,791 | €56,633 | -€6,158 | -9.8% |
| Financial fixed assets | 28 | €311,615 | €648,615 | +€337,000 | +108% |
| Current assets | 29/58 | €4,132,616 | €4,752,864 | +€620,248 | +15.0% |
| Amounts receivable within one year | 40/41 | €1,129,711 | €1,726,948 | +€597,237 | +52.9% |
| Trade receivables | 40 | €1,029,597 | €1,712,358 | +€682,761 | +66.3% |
| Other amounts receivable | 41 | €100,114 | €14,591 | -€85,523 | -85.4% |
| Current investments | 50/53 | €2,472,047 | €2,834,000 | +€361,953 | +14.6% |
| Cash at bank and in hand | 54/58 | €526,727 | €177,785 | -€348,942 | -66.2% |
| Deferred charges and accrued income | 490/1 | €4,130 | €14,130 | +€10,000 | +242% |
| Total equity and liabilities | 10/49 | €4,523,847 | €5,469,265 | +€945,418 | +20.9% |
| Equity | 10/15 | €3,969,856 | €4,772,879 | +€803,023 | +20.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €3,957,456 | €4,760,479 | +€803,023 | +20.3% |
| Distributable reserves | 133 | €3,957,456 | €4,760,479 | +€803,023 | +20.3% |
| Amounts payable | 17/49 | €553,991 | €696,386 | +€142,395 | +25.7% |
| Amounts payable within one year | 42/48 | €553,991 | €696,386 | +€142,395 | +25.7% |
| Trade debts | 44 | €72,383 | €108,960 | +€36,577 | +50.5% |
| Suppliers | 440/4 | €72,383 | €108,960 | +€36,577 | +50.5% |
| Taxes, remuneration and social security | 45 | €303,430 | €494,106 | +€190,676 | +62.8% |
| Taxes | 450/3 | €247,511 | €428,568 | +€181,057 | +73.2% |
| Remuneration and social security | 454/9 | €55,919 | €65,537 | +€9,618 | +17.2% |
| Other amounts payable | 47/48 | €178,179 | €93,320 | -€84,858 | -47.6% |
| Remuneration, social security and pensions | 62 | €612,522 | €680,477 | +€67,955 | +11.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,234 | €20,517 | -€5,717 | -21.8% |
| Other operating charges | 640/8 | €1,224 | €1,461 | +€237 | +19.4% |
| Gross operating margin | 9900 | €1,721,504 | €1,866,964 | +€145,460 | +8.4% |
| Operating profit (loss) | 9901 | €1,081,523 | €1,164,508 | +€82,985 | +7.7% |
| Financial income | 75/76B | €60,313 | €75,263 | +€14,950 | +24.8% |
| Recurring financial income | 75 | €60,313 | €75,263 | +€14,950 | +24.8% |
| Financial charges | 65/66B | €21,316 | €40,421 | +€19,105 | +89.6% |
| Recurring financial charges | 65 | €21,316 | €40,421 | +€19,105 | +89.6% |
| Profit (loss) for the period before taxes | 9903 | €1,120,520 | €1,199,350 | +€78,829 | +7.0% |
| Income taxes | 67/77 | €362,630 | €396,326 | +€33,696 | +9.3% |
| Profit (loss) for the period | 9904 | €757,890 | €803,023 | +€45,133 | +6.0% |
| Profit (loss) for the period to be appropriated | 9905 | €757,890 | €803,023 | +€45,133 | +6.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.