FIEX: 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.
FIEX
Largest movements
- Tangible fixed assets +€547,900
up €547,900 (+135.9%), from €403,087 to €950,988
of which Land and buildings: +€527,176
- Receivables within one year -€191,060
down €191,060 (-9.4%), from €2.0m to €1.8m
of which Other amounts receivable: -€427,870
- Current investments -€111,983
down €111,983 (-25.0%), from €448,436 to €336,453
- Cash -€54,364
down €54,364 (-8.9%), from €609,294 to €554,930
mainly Investment in fixed assets (net) (-€634,509) and Contributions, distributions and other (-€468,730)
- Trade debts +€716,752
up €716,752 (+7319.0%), from €9,793 to €726,545
- Profit (loss) carried forward -€354,429
down €354,429 (-13.2%), from €2.7m to €2.3m
- Tax, wage and social debts -€156,784
down €156,784 (-24.4%), from €643,172 to €486,388
- Gross operating margin -€1.8m
down €1.8m (-84.8%), from €2.1m to €319,750
- Taxes -€457,211
down €457,211 (-93.0%), from €491,760 to €34,549
- Financial income -€202,342
down €202,342 (-42.6%), from €474,783 to €272,441
- Financial charges -€136,756
down €136,756 (-37.8%), from €361,907 to €225,151
- Write-downs -€47,849
down €47,849 (-27.3%), from €175,444 to €127,595
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 | €3,515,868 | €3,705,118 | +€189,250 | +5.4% |
| Fixed assets | 21/28 | €403,087 | €950,988 | +€547,900 | +135.9% |
| Tangible fixed assets | 22/27 | €403,087 | €950,988 | +€547,900 | +135.9% |
| Land and buildings | 22 | €350,152 | €877,328 | +€527,176 | +150.6% |
| Plant, machinery and equipment | 23 | €6,055 | €3,359 | -€2,696 | -44.5% |
| Furniture and vehicles | 24 | €917 | €16,139 | +€15,222 | +1659.1% |
| Other tangible fixed assets | 26 | €45,963 | €54,161 | +€8,198 | +17.8% |
| Current assets | 29/58 | €3,112,780 | €2,754,131 | -€358,650 | -11.5% |
| Amounts receivable within one year | 40/41 | €2,035,582 | €1,844,522 | -€191,060 | -9.4% |
| Trade receivables | 40 | €12,029 | €248,838 | +€236,809 | +1968.7% |
| Other amounts receivable | 41 | €2,023,553 | €1,595,684 | -€427,870 | -21.1% |
| Current investments | 50/53 | €448,436 | €336,453 | -€111,983 | -25.0% |
| Cash at bank and in hand | 54/58 | €609,294 | €554,930 | -€54,364 | -8.9% |
| Deferred charges and accrued income | 490/1 | €19,469 | €18,226 | -€1,243 | -6.4% |
| Total equity and liabilities | 10/49 | €3,515,868 | €3,705,118 | +€189,250 | +5.4% |
| Equity | 10/15 | €2,693,111 | €2,338,682 | -€354,429 | -13.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,692,111 | €2,337,682 | -€354,429 | -13.2% |
| Amounts payable | 17/49 | €822,757 | €1,366,436 | +€543,679 | +66.1% |
| Amounts payable after more than one year | 17 | €153,503 | €137,611 | -€15,892 | -10.4% |
| Financial debts | 170/4 | €153,503 | €137,611 | -€15,892 | -10.4% |
| Amounts payable within one year | 42/48 | €668,303 | €1,228,825 | +€560,522 | +83.9% |
| Current portion of amounts payable after more than one year | 42 | €15,328 | €15,892 | +€564 | +3.7% |
| Financial debts | 43 | €10 | €0 | -€10 | -100.0% |
| Credit institutions | 430/8 | €10 | €0 | -€10 | -100.0% |
| Trade debts | 44 | €9,793 | €726,545 | +€716,752 | +7319.0% |
| Suppliers | 440/4 | €9,793 | €726,545 | +€716,752 | +7319.0% |
| Taxes, remuneration and social security | 45 | €643,172 | €486,388 | -€156,784 | -24.4% |
| Taxes | 450/3 | €643,172 | €486,388 | -€156,784 | -24.4% |
| Accrued charges and deferred income | 492/3 | €951 | €0 | -€951 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,267 | €86,609 | +€33,342 | +62.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €175,444 | €127,595 | -€47,849 | -27.3% |
| Other operating charges | 640/8 | €2,533 | €3,985 | +€1,452 | +57.3% |
| Gross operating margin | 9900 | €2,098,469 | €319,750 | -€1.8m | -84.8% |
| Operating profit (loss) | 9901 | €1,867,225 | €101,560 | -€1.8m | -94.6% |
| Financial income | 75/76B | €474,783 | €272,441 | -€202,342 | -42.6% |
| Recurring financial income | 75 | €474,783 | €272,441 | -€202,342 | -42.6% |
| Financial charges | 65/66B | €361,907 | €225,151 | -€136,756 | -37.8% |
| Recurring financial charges | 65 | €361,907 | €225,151 | -€136,756 | -37.8% |
| Profit (loss) for the period before taxes | 9903 | €1,980,101 | €148,850 | -€1.8m | -92.5% |
| Income taxes | 67/77 | €491,760 | €34,549 | -€457,211 | -93.0% |
| Profit (loss) for the period | 9904 | €1,488,341 | €114,301 | -€1.4m | -92.3% |
| Profit (loss) for the period to be appropriated | 9905 | €1,488,341 | €114,301 | -€1.4m | -92.3% |
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 11 October 2026 via checked.be.