FIORELLI: 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.
What changed
FIORELLI
NACE 46.220, Wholesale trade
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€123,869
2024 · €201,854-€77,985
Equity
€502,870
2024 · €483,283+€19,587
Cash
€603,610
2024 · €602,612+€998
Balance sheet total
€2.5m
2024 · €3.1m-€540,147
Largest movements
Assets
- Receivables within one year -€555,332
down €555,332 (-49.6%), from €1.1m to €565,337
of which Trade receivables: -€543,354
Equity and liabilities
- Short-term financial debts -€202,995
down €202,995 (-37.8%), from €536,500 to €333,505
- Debts after one year -€179,952
down €179,952 (-36.0%), from €500,264 to €320,311
- Trade debts -€171,214
down €171,214 (-23.6%), from €726,766 to €555,551
- Other debts -€31,284
down €31,284 (-7.2%), from €435,565 to €404,281
Income statement
- Gross operating margin -€53,306
down €53,306 (-4.2%), from €1.3m to €1.2m
- Depreciation +€51,352
up €51,352 (+36.6%), from €140,145 to €191,497
- Taxes -€15,258
down €15,258 (-29.4%), from €51,925 to €36,667
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.
Result 2024
€201,854
Gross operating margin
-€53,306
Staff costs
+€6,984
Depreciation
-€51,352
Other operating charges
+€6,066
Financial income
+€42
Financial charges
-€1,676
Taxes
+€15,258
Result 2025
€123,869
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.
From operations
+€668,072
Investment
-€205,193
Financing
-€461,881
Cash 2024
€602,612
From operations (derived)
+€668,072
Net result for the year
+€123,869
Depreciation
+€191,497
Stocks and contracts
+€4,998
Receivables within one year
+€555,332
Deferred charges and accrued income
-€5,489
Trade debts
-€171,214
Tax, wage and social debts
-€17,261
Other debts
-€31,284
Accrued charges and deferred income
+€17,624
Investment (derived)
-€205,193
Investment in fixed assets (net)
-€205,193
Financing
-€461,881
Debts after one year
-€179,952
Current portion of long-term debt
+€25,349
Short-term financial debts
-€202,995
Contributions, distributions and other
-€104,282
Cash 2025
€603,610
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,054,497 | €2,514,350 | -€540,147 | -17.7% |
| Fixed assets | 21/28 | €1,279,024 | €1,292,720 | +€13,696 | +1.1% |
| Tangible fixed assets | 22/27 | €636,361 | €650,057 | +€13,696 | +2.2% |
| Plant, machinery and equipment | 23 | €250,205 | €252,997 | +€2,791 | +1.1% |
| Furniture and vehicles | 24 | €140,033 | €128,769 | -€11,265 | -8.0% |
| Leasing and similar rights | 25 | €244,009 | €263,870 | +€19,861 | +8.1% |
| Other tangible fixed assets | 26 | €2,114 | €4,423 | +€2,308 | +109.2% |
| Financial fixed assets | 28 | €642,663 | €642,663 | = | 0.0% |
| Current assets | 29/58 | €1,775,473 | €1,221,630 | -€553,843 | -31.2% |
| Stocks and contracts in progress | 3 | €29,686 | €24,688 | -€4,998 | -16.8% |
| Stocks | 30/36 | €29,686 | €24,688 | -€4,998 | -16.8% |
| Amounts receivable within one year | 40/41 | €1,120,670 | €565,337 | -€555,332 | -49.6% |
| Trade receivables | 40 | €841,500 | €298,146 | -€543,354 | -64.6% |
| Other amounts receivable | 41 | €279,169 | €267,191 | -€11,978 | -4.3% |
| Cash at bank and in hand | 54/58 | €602,612 | €603,610 | +€998 | +0.2% |
| Deferred charges and accrued income | 490/1 | €22,505 | €27,994 | +€5,489 | +24.4% |
| Total equity and liabilities | 10/49 | €3,054,497 | €2,514,350 | -€540,147 | -17.7% |
| Equity | 10/15 | €483,283 | €502,870 | +€19,587 | +4.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €65,859 | €65,859 | = | 0.0% |
| Distributable reserves | 133 | €65,859 | €65,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €398,832 | €418,419 | +€19,587 | +4.9% |
| Amounts payable | 17/49 | €2,571,214 | €2,011,480 | -€559,733 | -21.8% |
| Amounts payable after more than one year | 17 | €500,264 | €320,311 | -€179,952 | -36.0% |
| Financial debts | 170/4 | €500,264 | €320,311 | -€179,952 | -36.0% |
| Amounts payable within one year | 42/48 | €2,042,056 | €1,644,650 | -€397,405 | -19.5% |
| Current portion of amounts payable after more than one year | 42 | €233,036 | €258,385 | +€25,349 | +10.9% |
| Financial debts | 43 | €536,500 | €333,505 | -€202,995 | -37.8% |
| Credit institutions | 430/8 | €536,500 | €333,505 | -€202,995 | -37.8% |
| Trade debts | 44 | €726,766 | €555,551 | -€171,214 | -23.6% |
| Suppliers | 440/4 | €726,766 | €555,551 | -€171,214 | -23.6% |
| Taxes, remuneration and social security | 45 | €110,189 | €92,928 | -€17,261 | -15.7% |
| Taxes | 450/3 | €26,816 | €6,651 | -€20,165 | -75.2% |
| Remuneration and social security | 454/9 | €83,373 | €86,277 | +€2,904 | +3.5% |
| Other amounts payable | 47/48 | €435,565 | €404,281 | -€31,284 | -7.2% |
| Accrued charges and deferred income | 492/3 | €28,895 | €46,519 | +€17,624 | +61.0% |
| Non-recurring operating income | 76A | €1,240 | €1,500 | +€260 | +21.0% |
| Remuneration, social security and pensions | 62 | €787,588 | €780,605 | -€6,984 | -0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €140,145 | €191,497 | +€51,352 | +36.6% |
| Other operating charges | 640/8 | €31,826 | €25,761 | -€6,066 | -19.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €1,277,027 | €1,223,721 | -€53,306 | -4.2% |
| Operating profit (loss) | 9901 | €317,467 | €225,858 | -€91,609 | -28.9% |
| Financial income | 75/76B | €13 | €55 | +€42 | +319.7% |
| Recurring financial income | 75 | €13 | €55 | +€42 | +319.7% |
| Financial charges | 65/66B | €63,701 | €65,377 | +€1,676 | +2.6% |
| Recurring financial charges | 65 | €63,701 | €65,377 | +€1,676 | +2.6% |
| Profit (loss) for the period before taxes | 9903 | €253,779 | €160,536 | -€93,243 | -36.7% |
| Income taxes | 67/77 | €51,925 | €36,667 | -€15,258 | -29.4% |
| Profit (loss) for the period | 9904 | €201,854 | €123,869 | -€77,985 | -38.6% |
| Profit (loss) for the period to be appropriated | 9905 | €201,854 | €123,869 | -€77,985 | -38.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.