FIPAL: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
FIPAL
Largest movements
- Receivables within one year -€68,282
down €68,282 (-83.5%), from €81,817 to €13,535
of which Other amounts receivable: -€62,332
- Receivables after one year +€20,000
up €20,000 (+57.1%), from €35,000 to €55,000
- Tangible fixed assets -€7,578
down €7,578 (-59.5%), from €12,742 to €5,164
of which Furniture and vehicles: -€6,941
- Debts after one year -€25,000
down €25,000 (-78.4%), from €31,868 to €6,868
- Profit (loss) carried forward -€14,237
down €14,237 (-35.1%), from €40,603 to €26,366
- Current portion of long-term debt -€7,922
down €7,922 (-26.1%), from €30,390 to €22,468
- Short-term financial debts -€3,718
down €3,718 (-24.8%), from €14,983 to €11,265
- Tax, wage and social debts -€2,482
down €2,482 (-36.5%), from €6,806 to €4,324
- Gross operating margin +€3,764
up €3,764 (+57.3%), from -€6,569 to -€2,804
- Depreciation -€1,686
down €1,686 (-18.2%), from €9,265 to €7,578
- Financial charges +€427
up €427 (+17.9%), from €2,387 to €2,814
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €135,552 | €79,712 | -€55,839 | -41.2% |
| Fixed assets | 21/28 | €12,742 | €5,164 | -€7,578 | -59.5% |
| Tangible fixed assets | 22/27 | €12,742 | €5,164 | -€7,578 | -59.5% |
| Plant, machinery and equipment | 23 | €1,753 | €1,116 | -€638 | -36.4% |
| Furniture and vehicles | 24 | €10,989 | €4,049 | -€6,941 | -63.2% |
| Current assets | 29/58 | €122,809 | €74,548 | -€48,261 | -39.3% |
| Amounts receivable after more than one year | 29 | €35,000 | €55,000 | +€20,000 | +57.1% |
| Other amounts receivable | 291 | €35,000 | €55,000 | +€20,000 | +57.1% |
| Stocks and contracts in progress | 3 | €5,993 | €5,993 | = | 0.0% |
| Stocks | 30/36 | €5,993 | €5,993 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €81,817 | €13,535 | -€68,282 | -83.5% |
| Trade receivables | 40 | €5,950 | - | -€5,950 | |
| Other amounts receivable | 41 | €75,867 | €13,535 | -€62,332 | -82.2% |
| Cash at bank and in hand | 54/58 | - | €20 | +€20 | |
| Total equity and liabilities | 10/49 | €135,552 | €79,712 | -€55,839 | -41.2% |
| Equity | 10/15 | €49,025 | €34,788 | -€14,237 | -29.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €2,222 | €2,222 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €362 | €362 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,603 | €26,366 | -€14,237 | -35.1% |
| Amounts payable | 17/49 | €86,527 | €44,925 | -€41,603 | -48.1% |
| Amounts payable after more than one year | 17 | €31,868 | €6,868 | -€25,000 | -78.4% |
| Financial debts | 170/4 | €31,868 | €6,868 | -€25,000 | -78.4% |
| Amounts payable within one year | 42/48 | €54,659 | €38,057 | -€16,602 | -30.4% |
| Current portion of amounts payable after more than one year | 42 | €30,390 | €22,468 | -€7,922 | -26.1% |
| Financial debts | 43 | €14,983 | €11,265 | -€3,718 | -24.8% |
| Credit institutions | 430/8 | €14,983 | €11,265 | -€3,718 | -24.8% |
| Trade debts | 44 | €2,480 | - | -€2,480 | |
| Suppliers | 440/4 | €2,480 | - | -€2,480 | |
| Taxes, remuneration and social security | 45 | €6,806 | €4,324 | -€2,482 | -36.5% |
| Taxes | 450/3 | €6,806 | €4,324 | -€2,482 | -36.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,265 | €7,578 | -€1,686 | -18.2% |
| Other operating charges | 640/8 | €790 | €749 | -€41 | -5.2% |
| Gross operating margin | 9900 | -€6,569 | -€2,804 | +€3,764 | +57.3% |
| Operating profit (loss) | 9901 | -€16,623 | -€11,131 | +€5,492 | +33.0% |
| Financial charges | 65/66B | €2,387 | €2,814 | +€427 | +17.9% |
| Recurring financial charges | 65 | €2,387 | €2,814 | +€427 | +17.9% |
| Profit (loss) for the period before taxes | 9903 | -€19,010 | -€13,945 | +€5,065 | +26.6% |
| Income taxes | 67/77 | €298 | €292 | -€6 | -2.1% |
| Profit (loss) for the period | 9904 | -€19,308 | -€14,237 | +€5,071 | +26.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,308 | -€14,237 | +€5,071 | +26.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.