FIEDO: 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.
FIEDO
Largest movements
- Tangible fixed assets +€587,874
up €587,874 (+48.9%), from €1.2m to €1.8m
of which Land and buildings: +€600,321
- Cash -€29,238
down €29,238 (-72.7%), from €40,195 to €10,957
mainly Investment in fixed assets (net) (-€658,481) and Current investments (-€2,000)
- Debts after one year +€510,233
up €510,233 (+59.5%), from €857,189 to €1.4m
of which Financial debts: +€510,233
- Current portion of long-term debt +€20,239
up €20,239 (+33.7%), from €60,068 to €80,307
- Gross operating margin +€13,633
up €13,633 (+11.6%), from €117,368 to €131,001
- Financial charges +€11,642
up €11,642 (+75.2%), from €15,484 to €27,126
- Depreciation +€9,841
up €9,841 (+16.2%), from €60,766 to €70,608
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 | €1,253,408 | €1,813,038 | +€559,630 | +44.6% |
| Fixed assets | 21/28 | €1,202,443 | €1,790,317 | +€587,874 | +48.9% |
| Tangible fixed assets | 22/27 | €1,202,443 | €1,790,317 | +€587,874 | +48.9% |
| Land and buildings | 22 | €1,141,058 | €1,741,379 | +€600,321 | +52.6% |
| Plant, machinery and equipment | 23 | €15,287 | €20,360 | +€5,073 | +33.2% |
| Furniture and vehicles | 24 | €46,097 | €28,577 | -€17,520 | -38.0% |
| Current assets | 29/58 | €50,965 | €22,721 | -€28,244 | -55.4% |
| Amounts receivable within one year | 40/41 | €8,548 | €8,501 | -€47 | -0.6% |
| Trade receivables | 40 | €7,223 | €8,501 | +€1,278 | +17.7% |
| Other amounts receivable | 41 | €1,325 | - | -€1,325 | |
| Current investments | 50/53 | - | €2,000 | +€2,000 | |
| Cash at bank and in hand | 54/58 | €40,195 | €10,957 | -€29,238 | -72.7% |
| Deferred charges and accrued income | 490/1 | €2,222 | €1,264 | -€958 | -43.1% |
| Total equity and liabilities | 10/49 | €1,253,408 | €1,813,038 | +€559,630 | +44.6% |
| Equity | 10/15 | €272,617 | €287,434 | +€14,816 | +5.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €266,417 | €281,234 | +€14,816 | +5.6% |
| Distributable reserves | 133 | €266,417 | €281,234 | +€14,816 | +5.6% |
| Amounts payable | 17/49 | €980,791 | €1,525,604 | +€544,814 | +55.5% |
| Amounts payable after more than one year | 17 | €857,189 | €1,367,423 | +€510,233 | +59.5% |
| Financial debts | 170/4 | €764,689 | €1,274,923 | +€510,233 | +66.7% |
| Other amounts payable | 178/9 | €92,500 | €92,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €118,293 | €149,051 | +€30,759 | +26.0% |
| Current portion of amounts payable after more than one year | 42 | €60,068 | €80,307 | +€20,239 | +33.7% |
| Trade debts | 44 | €3,876 | €2,872 | -€1,005 | -25.9% |
| Suppliers | 440/4 | €3,876 | €2,872 | -€1,005 | -25.9% |
| Taxes, remuneration and social security | 45 | €8,540 | €10,433 | +€1,893 | +22.2% |
| Taxes | 450/3 | €8,540 | €10,433 | +€1,893 | +22.2% |
| Other amounts payable | 47/48 | €45,808 | €55,440 | +€9,632 | +21.0% |
| Accrued charges and deferred income | 492/3 | €5,308 | €9,130 | +€3,822 | +72.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,766 | €70,608 | +€9,841 | +16.2% |
| Other operating charges | 640/8 | €4,046 | €4,935 | +€889 | +22.0% |
| Gross operating margin | 9900 | €117,368 | €131,001 | +€13,633 | +11.6% |
| Operating profit (loss) | 9901 | €52,556 | €55,458 | +€2,902 | +5.5% |
| Financial income | 75/76B | €0 | €66 | +€66 | +60236.4% |
| Recurring financial income | 75 | €0 | €66 | +€66 | +60236.4% |
| Financial charges | 65/66B | €15,484 | €27,126 | +€11,642 | +75.2% |
| Recurring financial charges | 65 | €15,484 | €27,126 | +€11,642 | +75.2% |
| Profit (loss) for the period before taxes | 9903 | €37,072 | €28,399 | -€8,674 | -23.4% |
| Income taxes | 67/77 | €12,675 | €11,864 | -€811 | -6.4% |
| Profit (loss) for the period | 9904 | €24,397 | €16,534 | -€7,863 | -32.2% |
| Profit (loss) for the period to be appropriated | 9905 | €24,397 | €16,534 | -€7,863 | -32.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.