FIENCO: 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.
FIENCO
Largest movements
- Intangible fixed assets +€424,422
up €424,422 (+1,868%), from €22,727 to €447,149
- Cash +€51,159
up €51,159 (+44.8%), from €114,293 to €165,453
mainly Debts after one year (+€303,525) and Net result for the year (+€165,654)
- Receivables within one year +€30,376
up €30,376 (+45.7%), from €66,529 to €96,905
of which Trade receivables: +€35,530
- Debts after one year +€303,525
up €303,525 (+3,736%), from €8,125 to €311,650
- Other debts +€81,197
up €81,197 (+127%), from €63,840 to €145,037
- Trade debts +€45,995
up €45,995 (+3,271%), from €1,406 to €47,401
of which Suppliers: +€45,995
- Current portion of long-term debt +€37,700
up €37,700 (+503%), from €7,500 to €45,200
- Reserves +€20,617
up €20,617 (+12.9%), from €159,517 to €180,133
of which Distributable reserves: +€20,617
- Gross operating margin +€172,905
up €172,905 (+58.6%), from €294,835 to €467,739
- Staff costs +€78,507
up €78,507 (+46.5%), from €168,925 to €247,431
- Financial charges +€8,985
up €8,985 (+518%), from €1,735 to €10,720
- Financial income -€5,467
down €5,467 (-90.1%), from €6,069 to €602
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.
Derived cash bridge
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 | €338,615 | €839,883 | +€501,268 | +148% |
| Formation expenses | 20 | €751 | - | -€751 | |
| Fixed assets | 21/28 | €153,597 | €572,672 | +€419,074 | +273% |
| Intangible fixed assets | 21 | €22,727 | €447,149 | +€424,422 | +1,868% |
| Tangible fixed assets | 22/27 | €130,871 | €125,523 | -€5,348 | -4.1% |
| Land and buildings | 22 | €100,297 | €83,956 | -€16,341 | -16.3% |
| Furniture and vehicles | 24 | €30,573 | €41,567 | +€10,993 | +36.0% |
| Current assets | 29/58 | €184,267 | €267,211 | +€82,944 | +45.0% |
| Amounts receivable within one year | 40/41 | €66,529 | €96,905 | +€30,376 | +45.7% |
| Trade receivables | 40 | €60,431 | €95,961 | +€35,530 | +58.8% |
| Other amounts receivable | 41 | €6,098 | €943 | -€5,154 | -84.5% |
| Cash at bank and in hand | 54/58 | €114,293 | €165,453 | +€51,159 | +44.8% |
| Deferred charges and accrued income | 490/1 | €3,445 | €4,854 | +€1,408 | +40.9% |
| Total equity and liabilities | 10/49 | €338,615 | €839,883 | +€501,268 | +148% |
| Equity | 10/15 | €218,117 | €238,733 | +€20,617 | +9.5% |
| Contributions | 10/11 | €58,600 | €58,600 | = | 0.0% |
| Reserves | 13 | €159,517 | €180,133 | +€20,617 | +12.9% |
| Non-distributable reserves | 130/1 | €4,194 | €4,194 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,194 | €4,194 | = | 0.0% |
| Tax-exempt reserves | 132 | €311 | €311 | = | 0.0% |
| Distributable reserves | 133 | €155,011 | €175,628 | +€20,617 | +13.3% |
| Amounts payable | 17/49 | €120,499 | €601,150 | +€480,651 | +399% |
| Amounts payable after more than one year | 17 | €8,125 | €311,650 | +€303,525 | +3,736% |
| Financial debts | 170/4 | €8,125 | €311,650 | +€303,525 | +3,736% |
| Amounts payable within one year | 42/48 | €111,723 | €289,500 | +€177,777 | +159% |
| Current portion of amounts payable after more than one year | 42 | €7,500 | €45,200 | +€37,700 | +503% |
| Financial debts | 43 | €4,057 | €4,038 | -€19 | -0.5% |
| Credit institutions | 430/8 | €4,057 | €4,038 | -€19 | -0.5% |
| Trade debts | 44 | €1,406 | €47,401 | +€45,995 | +3,271% |
| Suppliers | 440/4 | €1,375 | €47,370 | +€45,995 | +3,345% |
| Bills of exchange payable | 441 | €31 | €31 | = | 0.0% |
| Advances received on contracts in progress | 46 | €16,140 | €19,080 | +€2,940 | +18.2% |
| Taxes, remuneration and social security | 45 | €18,780 | €28,744 | +€9,964 | +53.1% |
| Taxes | 450/3 | - | €31 | +€31 | |
| Remuneration and social security | 454/9 | €18,780 | €28,713 | +€9,933 | +52.9% |
| Other amounts payable | 47/48 | €63,840 | €145,037 | +€81,197 | +127% |
| Accrued charges and deferred income | 492/3 | €651 | - | -€651 | |
| Remuneration, social security and pensions | 62 | €168,925 | €247,431 | +€78,507 | +46.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,345 | €28,775 | +€4,430 | +18.2% |
| Other operating charges | 640/8 | €3,091 | €3,551 | +€461 | +14.9% |
| Non-recurring operating charges | 66A | €140 | - | -€140 | |
| Gross operating margin | 9900 | €294,835 | €467,739 | +€172,905 | +58.6% |
| Operating profit (loss) | 9901 | €98,334 | €187,982 | +€89,647 | +91.2% |
| Financial income | 75/76B | €6,069 | €602 | -€5,467 | -90.1% |
| Recurring financial income | 75 | €6,069 | €602 | -€5,467 | -90.1% |
| Financial charges | 65/66B | €1,735 | €10,720 | +€8,985 | +518% |
| Recurring financial charges | 65 | €1,735 | €10,720 | +€8,985 | +518% |
| Profit (loss) for the period before taxes | 9903 | €102,668 | €177,864 | +€75,195 | +73.2% |
| Income taxes | 67/77 | €11,287 | €12,210 | +€923 | +8.2% |
| Profit (loss) for the period | 9904 | €91,381 | €165,654 | +€74,273 | +81.3% |
| Profit (loss) for the period to be appropriated | 9905 | €91,381 | €165,654 | +€74,273 | +81.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.