FISA OPERATIONS: 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
FISA OPERATIONS
NACE 82.300, Organisation of conventions and trade shows
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€1.8m
2024 · -€1.3m-€417,145
Equity
€3.1m
2024 · €4.9m-€1.8m
Cash
€1.7m
2024 · €763,716+€899,720
Balance sheet total
€20.9m
2024 · €15.5m+€5.4m
Largest movements
Assets
- Receivables after one year +€13.1m
new in 2025: €13.1m
- Receivables within one year -€9.7m
down €9.7m (-66.8%), from €14.5m to €4.8m
of which Other amounts receivable: -€11.6m
- Deferred charges and accrued income +€910,580
up €910,580 (+736%), from €123,703 to €1.0m
- Cash +€899,720
up €899,720 (+118%), from €763,716 to €1.7m
mainly Receivables within one year (+€9.7m) and Accrued charges and deferred income (+€5.6m)
Equity and liabilities
- Accrued charges and deferred income +€5.6m
up €5.6m (+33,053%), from €17,070 to €5.7m
- Trade debts +€4.1m
up €4.1m (+55.2%), from €7.4m to €11.4m
of which Bills of exchange payable: +€2.0m
- Advances received -€2.7m
no longer reported in 2025 (was €2.7m)
- Profit (loss) carried forward -€1.8m
down €1.8m, from €1.6m to -€171,452
Income statement
- Turnover -€1.2m
down €1.2m (-18.9%), from €6.3m to €5.1m
- Services and other goods -€898,832
down €898,832 (-11.4%), from €7.9m to €7.0m
- Write-downs +€323,114
new in 2025: €323,114
- Other operating income +€241,089
up €241,089 (+21,200%), from €1,137 to €242,226
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
-€1.3m
Turnover
-€1.2m
Other operating income
+€241,089
Services and other goods
+€898,832
Depreciation
-€23,011
Write-downs
-€323,114
Other operating charges
-€25,165
Financial income
+€16,447
Financial charges
-€11,387
Result 2025
-€1.8m
raises the resultlowers the result
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.
From operations
+€1.1m
Investment
-€176,208
Financing
€0
Cash 2024
€763,716
From operations (derived)
+€1.1m
Net result for the year
-€1.8m
Depreciation
+€53,333
Receivables after one year
-€13.1m
Receivables within one year
+€9.7m
Deferred charges and accrued income
-€910,580
Trade debts
+€4.1m
Tax, wage and social debts
+€10,525
Advances received
-€2.7m
Other debts
+€81,807
Accrued charges and deferred income
+€5.6m
Investment (derived)
-€176,208
Investment in fixed assets (net)
-€176,208
Cash 2025
€1.7m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,547,512 | €20,898,187 | +€5.4m | +34.4% |
| Fixed assets | 21/28 | €131,751 | €254,627 | +€122,875 | +93.3% |
| Intangible fixed assets | 21 | €26,751 | €159,627 | +€132,875 | +497% |
| Tangible fixed assets | 22/27 | €105,000 | - | -€105,000 | |
| Assets under construction and advance payments | 27 | €105,000 | - | -€105,000 | |
| Financial fixed assets | 28 | - | €95,000 | +€95,000 | |
| Other financial fixed assets | 284/8 | - | €95,000 | +€95,000 | |
| Amounts receivable and cash guarantees | 285/8 | - | €95,000 | +€95,000 | |
| Current assets | 29/58 | €15,415,761 | €20,643,560 | +€5.2m | +33.9% |
| Amounts receivable after more than one year | 29 | - | €13,129,614 | +€13.1m | |
| Other amounts receivable | 291 | - | €13,129,614 | +€13.1m | |
| Amounts receivable within one year | 40/41 | €14,528,342 | €4,816,227 | -€9.7m | -66.8% |
| Trade receivables | 40 | €2,860,775 | €4,795,886 | +€1.9m | +67.6% |
| Other amounts receivable | 41 | €11,667,567 | €20,341 | -€11.6m | -99.8% |
| Cash at bank and in hand | 54/58 | €763,716 | €1,663,437 | +€899,720 | +118% |
| Deferred charges and accrued income | 490/1 | €123,703 | €1,034,283 | +€910,580 | +736% |
| Total equity and liabilities | 10/49 | €15,547,512 | €20,898,187 | +€5.4m | +34.4% |
| Equity | 10/15 | €4,905,226 | €3,144,426 | -€1.8m | -35.9% |
| Contributions | 10/11 | €340,163 | €340,163 | = | 0.0% |
| Capital | 10 | €340,163 | €340,163 | = | 0.0% |
| Issued capital | 100 | €340,163 | €340,163 | = | 0.0% |
| Revaluation surpluses | 12 | €346,087 | €346,087 | = | 0.0% |
| Reserves | 13 | €2,629,628 | €2,629,628 | = | 0.0% |
| Non-distributable reserves | 130/1 | €34,016 | €34,016 | = | 0.0% |
| Legal reserve | 130 | €34,016 | €34,016 | = | 0.0% |
| Tax-exempt reserves | 132 | €226,827 | €226,827 | = | 0.0% |
| Distributable reserves | 133 | €2,368,785 | €2,368,785 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,589,348 | -€171,452 | -€1.8m | |
| Amounts payable | 17/49 | €10,642,286 | €17,753,761 | +€7.1m | +66.8% |
| Amounts payable within one year | 42/48 | €10,625,217 | €12,094,647 | +€1.5m | +13.8% |
| Trade debts | 44 | €7,362,725 | €11,430,253 | +€4.1m | +55.2% |
| Suppliers | 440/4 | €4,291,089 | €6,320,317 | +€2.0m | +47.3% |
| Bills of exchange payable | 441 | €3,071,636 | €5,109,936 | +€2.0m | +66.4% |
| Advances received on contracts in progress | 46 | €2,690,431 | - | -€2.7m | |
| Taxes, remuneration and social security | 45 | €14,031 | €24,556 | +€10,525 | +75.0% |
| Taxes | 450/3 | €14,031 | €24,556 | +€10,525 | +75.0% |
| Other amounts payable | 47/48 | €558,030 | €639,837 | +€81,807 | +14.7% |
| Accrued charges and deferred income | 492/3 | €17,070 | €5,659,114 | +€5.6m | +33,053% |
| Operating income | 70/76A | €6,293,243 | €5,343,497 | -€949,746 | -15.1% |
| Turnover | 70 | €6,292,105 | €5,101,271 | -€1.2m | -18.9% |
| Other operating income | 74 | €1,137 | €242,226 | +€241,089 | +21,200% |
| Operating charges | 60/66A | €7,913,017 | €7,385,476 | -€527,541 | -6.7% |
| Services and other goods | 61 | €7,876,534 | €6,977,703 | -€898,832 | -11.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,322 | €53,333 | +€23,011 | +75.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €323,114 | +€323,114 | |
| Other operating charges | 640/8 | €6,160 | €31,326 | +€25,165 | +409% |
| Operating profit (loss) | 9901 | -€1,619,774 | -€2,041,979 | -€422,205 | -26.1% |
| Financial income | 75/76B | €288,559 | €305,006 | +€16,447 | +5.7% |
| Recurring financial income | 75 | €288,559 | €305,006 | +€16,447 | +5.7% |
| Income from current assets | 751 | €288,559 | €303,709 | +€15,150 | +5.3% |
| Other financial income | 752/9 | - | €1,297 | +€1,297 | |
| Financial charges | 65/66B | €12,440 | €23,827 | +€11,387 | +91.5% |
| Recurring financial charges | 65 | €12,440 | €23,827 | +€11,387 | +91.5% |
| Debt charges | 650 | €9,761 | €17,981 | +€8,219 | +84.2% |
| Other financial charges | 652/9 | €2,679 | €5,846 | +€3,167 | +118% |
| Profit (loss) for the period before taxes | 9903 | -€1,343,656 | -€1,760,800 | -€417,145 | -31.0% |
| Profit (loss) for the period | 9904 | -€1,343,656 | -€1,760,800 | -€417,145 | -31.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,343,656 | -€1,760,800 | -€417,145 | -31.0% |
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 23 October 2026 via checked.be.