FIETSEN SCHELDEMAN: 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 SCHELDEMAN
Largest movements
- Tangible fixed assets +€347,442
up €347,442 (+61.6%), from €563,905 to €911,346
of which Other tangible fixed assets: +€277,248
- Stocks and contracts +€28,877
up €28,877 (+4.9%), from €594,039 to €622,916
- Receivables within one year +€20,208
up €20,208 (+30.4%), from €66,452 to €86,660
of which Other amounts receivable: +€12,597
- Debts after one year +€254,885
up €254,885 (+61.0%), from €418,088 to €672,974
- Reserves +€129,070
up €129,070 (+21.6%), from €597,385 to €726,455
- Current portion of long-term debt +€34,674
up €34,674 (+63.9%), from €54,268 to €88,943
- Tax, wage and social debts +€24,835
up €24,835 (+49.1%), from €50,618 to €75,453
of which Taxes: +€35,303
- Trade debts -€19,431
down €19,431 (-20.3%), from €95,615 to €76,184
- Gross operating margin +€153,482
up €153,482 (+78.7%), from €194,968 to €348,450
- Taxes +€36,613
up €36,613 (+411%), from €8,908 to €45,521
- Staff costs -€13,261
down €13,261 (-14.7%), from €90,186 to €76,924
- Depreciation +€11,967
up €11,967 (+20.8%), from €57,516 to €69,483
- Financial charges +€3,684
up €3,684 (+24.1%), from €15,291 to €18,975
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 | €1,352,271 | €1,754,733 | +€402,462 | +29.8% |
| Fixed assets | 21/28 | €563,905 | €911,346 | +€347,442 | +61.6% |
| Tangible fixed assets | 22/27 | €563,905 | €911,346 | +€347,442 | +61.6% |
| Land and buildings | 22 | €465,541 | €438,531 | -€27,010 | -5.8% |
| Plant, machinery and equipment | 23 | €21,094 | €23,561 | +€2,467 | +11.7% |
| Furniture and vehicles | 24 | €55,822 | €150,559 | +€94,737 | +170% |
| Other tangible fixed assets | 26 | €21,447 | €298,695 | +€277,248 | +1,293% |
| Current assets | 29/58 | €788,367 | €843,386 | +€55,020 | +7.0% |
| Stocks and contracts in progress | 3 | €594,039 | €622,916 | +€28,877 | +4.9% |
| Stocks | 30/36 | €594,039 | €622,916 | +€28,877 | +4.9% |
| Amounts receivable within one year | 40/41 | €66,452 | €86,660 | +€20,208 | +30.4% |
| Trade receivables | 40 | €46,068 | €53,679 | +€7,611 | +16.5% |
| Other amounts receivable | 41 | €20,384 | €32,981 | +€12,597 | +61.8% |
| Cash at bank and in hand | 54/58 | €122,425 | €127,571 | +€5,146 | +4.2% |
| Deferred charges and accrued income | 490/1 | €5,450 | €6,240 | +€789 | +14.5% |
| Total equity and liabilities | 10/49 | €1,352,271 | €1,754,733 | +€402,462 | +29.8% |
| Equity | 10/15 | €647,385 | €776,455 | +€129,070 | +19.9% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €597,385 | €726,455 | +€129,070 | +21.6% |
| Distributable reserves | 133 | €597,385 | €726,455 | +€129,070 | +21.6% |
| Amounts payable | 17/49 | €704,886 | €978,278 | +€273,392 | +38.8% |
| Amounts payable after more than one year | 17 | €418,088 | €672,974 | +€254,885 | +61.0% |
| Financial debts | 170/4 | €418,088 | €672,974 | +€254,885 | +61.0% |
| Amounts payable within one year | 42/48 | €286,461 | €305,082 | +€18,621 | +6.5% |
| Current portion of amounts payable after more than one year | 42 | €54,268 | €88,943 | +€34,674 | +63.9% |
| Trade debts | 44 | €95,615 | €76,184 | -€19,431 | -20.3% |
| Suppliers | 440/4 | €95,615 | €76,184 | -€19,431 | -20.3% |
| Advances received on contracts in progress | 46 | €22,932 | €15,784 | -€7,149 | -31.2% |
| Taxes, remuneration and social security | 45 | €50,618 | €75,453 | +€24,835 | +49.1% |
| Taxes | 450/3 | €20,482 | €55,785 | +€35,303 | +172% |
| Remuneration and social security | 454/9 | €30,137 | €19,669 | -€10,468 | -34.7% |
| Other amounts payable | 47/48 | €63,027 | €48,719 | -€14,309 | -22.7% |
| Accrued charges and deferred income | 492/3 | €337 | €222 | -€115 | -34.1% |
| Non-recurring operating income | 76A | €4,712 | €3,245 | -€1,467 | -31.1% |
| Remuneration, social security and pensions | 62 | €90,186 | €76,924 | -€13,261 | -14.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,516 | €69,483 | +€11,967 | +20.8% |
| Other operating charges | 640/8 | €5,041 | €3,268 | -€1,773 | -35.2% |
| Non-recurring operating charges | 66A | €211 | €8,148 | +€7,937 | +3,762% |
| Gross operating margin | 9900 | €194,968 | €348,450 | +€153,482 | +78.7% |
| Operating profit (loss) | 9901 | €42,015 | €190,627 | +€148,612 | +354% |
| Financial income | 75/76B | €1,443 | €2,938 | +€1,495 | +104% |
| Recurring financial income | 75 | €1,443 | €2,938 | +€1,495 | +104% |
| Financial charges | 65/66B | €15,291 | €18,975 | +€3,684 | +24.1% |
| Recurring financial charges | 65 | €15,291 | €18,975 | +€3,684 | +24.1% |
| Profit (loss) for the period before taxes | 9903 | €28,168 | €174,591 | +€146,423 | +520% |
| Income taxes | 67/77 | €8,908 | €45,521 | +€36,613 | +411% |
| Profit (loss) for the period | 9904 | €19,260 | €129,070 | +€109,810 | +570% |
| Profit (loss) for the period to be appropriated | 9905 | €19,260 | €129,070 | +€109,810 | +570% |
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 14 October 2026 via checked.be.