FIETSEN ANDY: 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.
FIETSEN ANDY
Largest movements
- Cash -€30,302
down €30,302 (-16.1%), from €187,985 to €157,682
mainly Debts after one year (-€49,316) and Investment in fixed assets (net) (-€37,849)
- Tangible fixed assets +€28,185
up €28,185 (+316%), from €8,929 to €37,114
of which Other tangible fixed assets: +€25,720
- Stocks and contracts +€16,309
up €16,309 (+16.2%), from €100,521 to €116,829
- Receivables within one year +€5,576
up €5,576 (+122%), from €4,566 to €10,142
of which Other amounts receivable: +€3,971
- Reserves +€50,854
up €50,854 (+253%), from €20,103 to €70,957
- Debts after one year -€49,316
down €49,316 (-27.6%), from €178,416 to €129,100
of which Other amounts payable: -€30,000
- Other debts +€31,077
up €31,077 (+158%), from €19,650 to €50,727
- Trade debts -€18,336
down €18,336 (-55.7%), from €32,928 to €14,592
- Short-term financial debts +€6,667
new in 2025: €6,667
- Gross operating margin +€52,827
up €52,827 (+182%), from €29,087 to €81,914
- Taxes +€9,309
up €9,309 (+139%), from €6,720 to €16,029
- Depreciation +€8,593
up €8,593 (+802%), from €1,071 to €9,664
- Financial charges +€5,750
up €5,750 (+373%), from €1,542 to €7,293
- Financial income +€2,073
up €2,073 (+520%), from €399 to €2,472
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 | €303,240 | €323,272 | +€20,033 | +6.6% |
| Fixed assets | 21/28 | €8,929 | €37,114 | +€28,185 | +316% |
| Tangible fixed assets | 22/27 | €8,929 | €37,114 | +€28,185 | +316% |
| Plant, machinery and equipment | 23 | €4,464 | €6,466 | +€2,002 | +44.8% |
| Furniture and vehicles | 24 | €4,464 | €4,928 | +€463 | +10.4% |
| Other tangible fixed assets | 26 | - | €25,720 | +€25,720 | |
| Current assets | 29/58 | €294,311 | €286,159 | -€8,152 | -2.8% |
| Stocks and contracts in progress | 3 | €100,521 | €116,829 | +€16,309 | +16.2% |
| Stocks | 30/36 | €100,521 | €116,829 | +€16,309 | +16.2% |
| Amounts receivable within one year | 40/41 | €4,566 | €10,142 | +€5,576 | +122% |
| Trade receivables | 40 | €4,566 | €6,170 | +€1,605 | +35.2% |
| Other amounts receivable | 41 | - | €3,971 | +€3,971 | |
| Cash at bank and in hand | 54/58 | €187,985 | €157,682 | -€30,302 | -16.1% |
| Deferred charges and accrued income | 490/1 | €1,239 | €1,505 | +€266 | +21.5% |
| Total equity and liabilities | 10/49 | €303,240 | €323,272 | +€20,033 | +6.6% |
| Equity | 10/15 | €32,103 | €82,957 | +€50,854 | +158% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Reserves | 13 | €20,103 | €70,957 | +€50,854 | +253% |
| Distributable reserves | 133 | €20,103 | €70,957 | +€50,854 | +253% |
| Amounts payable | 17/49 | €271,137 | €240,316 | -€30,821 | -11.4% |
| Amounts payable after more than one year | 17 | €178,416 | €129,100 | -€49,316 | -27.6% |
| Financial debts | 170/4 | €78,416 | €59,100 | -€19,316 | -24.6% |
| Other amounts payable | 178/9 | €100,000 | €70,000 | -€30,000 | -30.0% |
| Amounts payable within one year | 42/48 | €92,721 | €111,215 | +€18,495 | +19.9% |
| Current portion of amounts payable after more than one year | 42 | €18,561 | €19,316 | +€755 | +4.1% |
| Financial debts | 43 | - | €6,667 | +€6,667 | |
| Other loans | 439 | - | €6,667 | +€6,667 | |
| Trade debts | 44 | €32,928 | €14,592 | -€18,336 | -55.7% |
| Suppliers | 440/4 | €32,928 | €14,592 | -€18,336 | -55.7% |
| Taxes, remuneration and social security | 45 | €21,581 | €19,914 | -€1,668 | -7.7% |
| Taxes | 450/3 | €21,581 | €19,914 | -€1,668 | -7.7% |
| Other amounts payable | 47/48 | €19,650 | €50,727 | +€31,077 | +158% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,071 | €9,664 | +€8,593 | +802% |
| Other operating charges | 640/8 | €50 | €547 | +€497 | +993% |
| Gross operating margin | 9900 | €29,087 | €81,914 | +€52,827 | +182% |
| Operating profit (loss) | 9901 | €27,966 | €71,704 | +€43,738 | +156% |
| Financial income | 75/76B | €399 | €2,472 | +€2,073 | +520% |
| Recurring financial income | 75 | €399 | €2,472 | +€2,073 | +520% |
| Financial charges | 65/66B | €1,542 | €7,293 | +€5,750 | +373% |
| Recurring financial charges | 65 | €1,542 | €7,293 | +€5,750 | +373% |
| Profit (loss) for the period before taxes | 9903 | €26,822 | €66,883 | +€40,061 | +149% |
| Income taxes | 67/77 | €6,720 | €16,029 | +€9,309 | +139% |
| Profit (loss) for the period | 9904 | €20,103 | €50,854 | +€30,752 | +153% |
| Profit (loss) for the period to be appropriated | 9905 | €20,103 | €50,854 | +€30,752 | +153% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.