FISBOI: 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
FISBOI
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.2m
2024 · €7.1m-€5.9m
Equity
€11.6m
2024 · €11.5m+€55,840
Cash
€596,636
2024 · €421,913+€174,723
Balance sheet total
€19.7m
2024 · €17.1m+€2.6m
Largest movements
Assets
- Receivables after one year +€9.5m
new in 2025: €9.5m
- Receivables within one year -€7.4m
down €7.4m (-93.6%), from €7.9m to €512,269
of which Other amounts receivable: -€7.1m
- Tangible fixed assets +€2.0m
up €2.0m (+35.0%), from €5.8m to €7.8m
of which Land and buildings: +€2.1m
- Current investments -€1.7m
down €1.7m (-65.5%), from €2.6m to €899,804
Equity and liabilities
- Debts after one year +€3.1m
up €3.1m (+372%), from €846,602 to €4.0m
of which Financial debts: +€3.4m
- Other debts -€993,673
down €993,673 (-85.2%), from €1.2m to €172,316
- Trade debts +€436,693
up €436,693 (+87.0%), from €502,197 to €938,890
Income statement
- Gross operating margin -€8.4m
down €8.4m (-83.8%), from €10.1m to €1.6m
- Financial income +€620,292
up €620,292 (+3,148%), from €19,706 to €639,998
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
€7.1m
Gross operating margin
-€8.4m
Depreciation
-€42,519
Other operating charges
+€3,099
Financial income
+€620,292
Financial charges
-€70,083
Taxes
+€27,091
Deferred taxes and other
+€2.0m
Result 2025
€1.2m
raises the resultlowers the resultnot broken down further in the accounts
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
-€919,063
Investment
-€753,806
Financing
+€1.8m
Cash 2024
€421,913
From operations (derived)
-€919,063
Net result for the year
+€1.2m
Depreciation
+€436,639
Receivables after one year
-€9.5m
Receivables within one year
+€7.4m
Smaller working-capital items
+€3,067
Trade debts
+€436,693
Tax, wage and social debts
+€42,606
Other debts
-€993,673
Investment (derived)
-€753,806
Investment in fixed assets (net)
-€2.5m
Current investments
+€1.7m
Financing
+€1.8m
Debts after one year
+€3.1m
Current portion of long-term debt
+€55,718
Short-term financial debts
-€183,549
Contributions, distributions and other
-€1.2m
Cash 2025
€596,636
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €17,089,658 | €19,651,920 | +€2.6m | +15.0% |
| Fixed assets | 21/28 | €6,063,314 | €8,090,524 | +€2.0m | +33.4% |
| Tangible fixed assets | 22/27 | €5,789,874 | €7,817,085 | +€2.0m | +35.0% |
| Land and buildings | 22 | €5,617,179 | €7,745,503 | +€2.1m | +37.9% |
| Furniture and vehicles | 24 | €1,929 | €95 | -€1,833 | -95.1% |
| Assets under construction and advance payments | 27 | €170,766 | €71,486 | -€99,280 | -58.1% |
| Financial fixed assets | 28 | €273,440 | €273,440 | = | 0.0% |
| Current assets | 29/58 | €11,026,344 | €11,561,395 | +€535,052 | +4.9% |
| Amounts receivable after more than one year | 29 | - | €9,505,746 | +€9.5m | |
| Other amounts receivable | 291 | - | €9,505,746 | +€9.5m | |
| Amounts receivable within one year | 40/41 | €7,947,781 | €512,269 | -€7.4m | -93.6% |
| Trade receivables | 40 | €351,036 | €21,452 | -€329,584 | -93.9% |
| Other amounts receivable | 41 | €7,596,745 | €490,818 | -€7.1m | -93.5% |
| Current investments | 50/53 | €2,609,848 | €899,804 | -€1.7m | -65.5% |
| Cash at bank and in hand | 54/58 | €421,913 | €596,636 | +€174,723 | +41.4% |
| Deferred charges and accrued income | 490/1 | €46,802 | €46,940 | +€138 | +0.3% |
| Total equity and liabilities | 10/49 | €17,089,658 | €19,651,920 | +€2.6m | +15.0% |
| Equity | 10/15 | €11,497,234 | €11,553,073 | +€55,840 | +0.5% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €11,233,027 | €11,288,239 | +€55,212 | +0.5% |
| Non-distributable reserves | 130/1 | €25,000 | €25,000 | = | 0.0% |
| Legal reserve | 130 | €25,000 | €25,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,380,956 | €10,156,168 | +€2.8m | +37.6% |
| Distributable reserves | 133 | €3,827,071 | €1,107,071 | -€2.7m | -71.1% |
| Profit (loss) carried forward | 14 | €14,207 | €14,834 | +€627 | +4.4% |
| Provisions and deferred taxes | 16 | €2,600,779 | €2,603,984 | +€3,205 | +0.1% |
| Deferred taxes | 168 | €2,600,779 | €2,603,984 | +€3,205 | +0.1% |
| Amounts payable | 17/49 | €2,991,645 | €5,494,862 | +€2.5m | +83.7% |
| Amounts payable after more than one year | 17 | €846,602 | €3,992,025 | +€3.1m | +372% |
| Financial debts | 170/4 | €590,870 | €3,992,025 | +€3.4m | +576% |
| Other amounts payable | 178/9 | €255,732 | - | -€255,732 | |
| Amounts payable within one year | 42/48 | €2,145,043 | €1,502,838 | -€642,206 | -29.9% |
| Current portion of amounts payable after more than one year | 42 | €208,905 | €264,622 | +€55,718 | +26.7% |
| Financial debts | 43 | €267,952 | €84,403 | -€183,549 | -68.5% |
| Credit institutions | 430/8 | €267,952 | €84,403 | -€183,549 | -68.5% |
| Trade debts | 44 | €502,197 | €938,890 | +€436,693 | +87.0% |
| Suppliers | 440/4 | €502,197 | €938,890 | +€436,693 | +87.0% |
| Taxes, remuneration and social security | 45 | - | €42,606 | +€42,606 | |
| Taxes | 450/3 | - | €42,606 | +€42,606 | |
| Other amounts payable | 47/48 | €1,165,989 | €172,316 | -€993,673 | -85.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €394,120 | €436,639 | +€42,519 | +10.8% |
| Other operating charges | 640/8 | €180,891 | €177,792 | -€3,099 | -1.7% |
| Gross operating margin | 9900 | €10,053,886 | €1,625,948 | -€8.4m | -83.8% |
| Operating profit (loss) | 9901 | €9,478,875 | €1,011,517 | -€8.5m | -89.3% |
| Financial income | 75/76B | €19,706 | €639,998 | +€620,292 | +3,148% |
| Recurring financial income | 75 | €19,706 | €639,998 | +€620,292 | +3,148% |
| Financial charges | 65/66B | €59,538 | €129,621 | +€70,083 | +118% |
| Recurring financial charges | 65 | €59,538 | €129,621 | +€70,083 | +118% |
| Profit (loss) for the period before taxes | 9903 | €9,439,044 | €1,521,894 | -€7.9m | -83.9% |
| Transfer from deferred taxes | 780 | €49,567 | €50,871 | +€1,305 | +2.6% |
| Transfer to deferred taxes | 680 | €2,078,842 | €54,076 | -€2.0m | -97.4% |
| Income taxes | 67/77 | €319,941 | €292,850 | -€27,091 | -8.5% |
| Profit (loss) for the period | 9904 | €7,089,828 | €1,225,840 | -€5.9m | -82.7% |
| Transfer from tax-exempt reserves | 789 | €103,102 | €107,016 | +€3,914 | +3.8% |
| Transfer to tax-exempt reserves | 689 | €6,236,527 | €162,228 | -€6.1m | -97.4% |
| Profit (loss) for the period to be appropriated | 9905 | €956,403 | €1,170,627 | +€214,225 | +22.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.