FISC'INVEST: 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.
FISC'INVEST
Largest movements
- Tangible fixed assets -€248,216
down €248,216 (-8.1%), from €3.1m to €2.8m
of which Land and buildings: -€267,324
- Receivables within one year +€149,658
up €149,658 (+44.0%), from €339,918 to €489,576
of which Other amounts receivable: +€149,658
- Cash +€35,579
up €35,579 (+282%), from €12,619 to €48,198
mainly Depreciation (+€191,070) and Net result for the year (+€116,753)
- Total equity and liabilities -€64,761
down €64,761 (-1.9%), from €3.4m to €3.4m
- Gross operating margin +€222,581
up €222,581 (+107%), from €207,160 to €429,741
- Other operating charges -€39,479
down €39,479 (-64.4%), from €61,292 to €21,813
- Depreciation -€23,560
down €23,560 (-11.0%), from €214,630 to €191,070
- Financial charges -€7,884
down €7,884 (-22.8%), from €34,608 to €26,724
- Taxes +€5,161
up €5,161 (+165%), from €3,134 to €8,295
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,427,536 | €3,362,777 | -€64,759 | -1.9% |
| Fixed assets | 21/28 | €3,061,265 | €2,813,049 | -€248,216 | -8.1% |
| Tangible fixed assets | 22/27 | €3,050,685 | €2,802,469 | -€248,216 | -8.1% |
| Land and buildings | 22 | €3,030,632 | €2,763,308 | -€267,324 | -8.8% |
| Plant, machinery and equipment | 23 | - | €21,363 | +€21,363 | |
| Furniture and vehicles | 24 | €20,053 | €17,798 | -€2,255 | -11.2% |
| Financial fixed assets | 28 | €10,580 | €10,580 | = | 0.0% |
| Current assets | 29/58 | €366,271 | €549,728 | +€183,457 | +50.1% |
| Amounts receivable within one year | 40/41 | €339,918 | €489,576 | +€149,658 | +44.0% |
| Trade receivables | 40 | €5,078 | €5,078 | = | 0.0% |
| Other amounts receivable | 41 | €334,840 | €484,498 | +€149,658 | +44.7% |
| Cash at bank and in hand | 54/58 | €12,619 | €48,198 | +€35,579 | +282% |
| Deferred charges and accrued income | 490/1 | €13,734 | €11,954 | -€1,780 | -13.0% |
| Total equity and liabilities | 10/49 | €3,427,537 | €3,362,776 | -€64,761 | -1.9% |
| Contributions | 10/11 | -€598,192 | -€431,328 | +€166,864 | +27.9% |
| Revaluation surpluses | 12 | €1,369,321 | €1,369,322 | +€1 | 0.0% |
| Reserves | 13 | €559,521 | €630,600 | +€71,079 | +12.7% |
| Tax-exempt reserves | 132 | €486,144 | €557,223 | +€71,079 | +14.6% |
| Distributable reserves | 133 | €73,377 | €73,377 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€431,543 | -€511,018 | -€79,475 | -18.4% |
| Deferred taxes | 168 | €162,048 | €185,741 | +€23,693 | +14.6% |
| Amounts payable | 17/49 | €2,366,382 | €2,119,459 | -€246,923 | -10.4% |
| Amounts payable after more than one year | 17 | €1,359,276 | €1,187,967 | -€171,309 | -12.6% |
| Financial debts | 170/4 | €1,311,806 | €1,145,697 | -€166,109 | -12.7% |
| Other amounts payable | 178/9 | €47,470 | €42,270 | -€5,200 | -11.0% |
| Amounts payable within one year | 42/48 | €991,591 | €928,584 | -€63,007 | -6.4% |
| Current portion of amounts payable after more than one year | 42 | €176,745 | €179,662 | +€2,917 | +1.7% |
| Trade debts | 44 | €6,899 | €4,451 | -€2,448 | -35.5% |
| Suppliers | 440/4 | €6,899 | €4,451 | -€2,448 | -35.5% |
| Taxes, remuneration and social security | 45 | €815 | €1,847 | +€1,032 | +127% |
| Taxes | 450/3 | €815 | €1,847 | +€1,032 | +127% |
| Other amounts payable | 47/48 | €807,132 | €742,624 | -€64,508 | -8.0% |
| Accrued charges and deferred income | 492/3 | €15,515 | €2,908 | -€12,607 | -81.3% |
| Non-recurring operating income | 76A | - | €263,076 | +€263,076 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €214,630 | €191,070 | -€23,560 | -11.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €904 | - | -€904 | |
| Other operating charges | 640/8 | €61,292 | €21,813 | -€39,479 | -64.4% |
| Gross operating margin | 9900 | €207,160 | €429,741 | +€222,581 | +107% |
| Operating profit (loss) | 9901 | -€69,666 | €216,858 | +€286,524 | |
| Financial income | 75/76B | €3,754 | €323 | -€3,431 | -91.4% |
| Recurring financial income | 75 | €3,754 | €323 | -€3,431 | -91.4% |
| Financial charges | 65/66B | €34,608 | €26,724 | -€7,884 | -22.8% |
| Recurring financial charges | 65 | €34,608 | €26,724 | -€7,884 | -22.8% |
| Profit (loss) for the period before taxes | 9903 | -€100,520 | €190,457 | +€290,977 | |
| Transfer to deferred taxes | 680 | - | €65,409 | +€65,409 | |
| Income taxes | 67/77 | €3,134 | €8,295 | +€5,161 | +165% |
| Profit (loss) for the period | 9904 | -€103,654 | €116,753 | +€220,407 | |
| Transfer to tax-exempt reserves | 689 | - | €196,227 | +€196,227 | |
| Profit (loss) for the period to be appropriated | 9905 | -€103,654 | -€79,474 | +€24,180 | +23.3% |
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 29 October 2026 via checked.be.