Fisca M@x: what changed
Two fiscal 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.
Fisca M@x
Largest movements
- Cash -€183,924
down €183,924 (-67.9%), from €270,730 to €86,807
mainly Current investments (-€151,500) and Contributions, distributions and other (-€150,000)
- Current investments +€151,500
new in 2025: €151,500
- Tangible fixed assets -€39,643
down €39,643 (-6.5%), from €613,120 to €573,477
of which Land and buildings: -€38,589
- Receivables within one year +€29,268
up €29,268 (+18.9%), from €154,894 to €184,162
of which Trade receivables: +€32,049
- Provisions +€127,454
new in 2025: €127,454
- Profit (loss) carried forward -€108,126
down €108,126 (-53.3%), from €202,931 to €94,805
- Other debts -€44,595
down €44,595 (-14.3%), from €311,908 to €267,313
- Debts after one year -€42,436
down €42,436 (-9.9%), from €429,072 to €386,636
- Tax, wage and social debts +€15,702
up €15,702 (+30.6%), from €51,352 to €67,055
of which Taxes: +€24,333
- Provisions +€234,862
up €234,862, from -€107,407 to €127,454
- Financial charges -€87,937
down €87,937 (-89.6%), from €98,141 to €10,204
- Other operating charges +€85,792
up €85,792 (+1390.8%), from €6,168 to €91,961
- Gross operating margin +€45,908
up €45,908 (+8.5%), from €541,770 to €587,678
- Staff costs -€38,996
down €38,996 (-14.3%), from €271,812 to €232,816
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,061,299 | €1,013,667 | -€47,633 | -4.5% |
| Fixed assets | 21/28 | €613,120 | €573,477 | -€39,643 | -6.5% |
| Tangible fixed assets | 22/27 | €613,120 | €573,477 | -€39,643 | -6.5% |
| Land and buildings | 22 | €600,849 | €562,260 | -€38,589 | -6.4% |
| Furniture and vehicles | 24 | €12,271 | €11,217 | -€1,054 | -8.6% |
| Current assets | 29/58 | €448,179 | €440,190 | -€7,989 | -1.8% |
| Amounts receivable within one year | 40/41 | €154,894 | €184,162 | +€29,268 | +18.9% |
| Trade receivables | 40 | €149,702 | €181,751 | +€32,049 | +21.4% |
| Other amounts receivable | 41 | €5,192 | €2,411 | -€2,781 | -53.6% |
| Current investments | 50/53 | - | €151,500 | +€151,500 | |
| Cash at bank and in hand | 54/58 | €270,730 | €86,807 | -€183,924 | -67.9% |
| Deferred charges and accrued income | 490/1 | €22,554 | €17,721 | -€4,833 | -21.4% |
| Total equity and liabilities | 10/49 | €1,061,299 | €1,013,667 | -€47,633 | -4.5% |
| Equity | 10/15 | €204,931 | €96,805 | -€108,126 | -52.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €202,931 | €94,805 | -€108,126 | -53.3% |
| Provisions and deferred taxes | 16 | - | €127,454 | +€127,454 | |
| Provisions for liabilities and charges | 160/5 | - | €127,454 | +€127,454 | |
| Other liabilities and charges | 164/5 | - | €127,454 | +€127,454 | |
| Amounts payable | 17/49 | €856,368 | €789,407 | -€66,961 | -7.8% |
| Amounts payable after more than one year | 17 | €429,072 | €386,636 | -€42,436 | -9.9% |
| Financial debts | 170/4 | €429,072 | €386,636 | -€42,436 | -9.9% |
| Amounts payable within one year | 42/48 | €427,296 | €402,771 | -€24,525 | -5.7% |
| Current portion of amounts payable after more than one year | 42 | €44,198 | €42,436 | -€1,762 | -4.0% |
| Trade debts | 44 | €19,838 | €25,967 | +€6,129 | +30.9% |
| Suppliers | 440/4 | €19,838 | €25,967 | +€6,129 | +30.9% |
| Taxes, remuneration and social security | 45 | €51,352 | €67,055 | +€15,702 | +30.6% |
| Taxes | 450/3 | €16,405 | €40,737 | +€24,333 | +148.3% |
| Remuneration and social security | 454/9 | €34,948 | €26,318 | -€8,630 | -24.7% |
| Other amounts payable | 47/48 | €311,908 | €267,313 | -€44,595 | -14.3% |
| Remuneration, social security and pensions | 62 | €271,812 | €232,816 | -€38,996 | -14.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,579 | €45,992 | -€1,587 | -3.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,525 | -€2,506 | -€5,031 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€107,407 | €127,454 | +€234,862 | |
| Other operating charges | 640/8 | €6,168 | €91,961 | +€85,792 | +1390.8% |
| Gross operating margin | 9900 | €541,770 | €587,678 | +€45,908 | +8.5% |
| Operating profit (loss) | 9901 | €321,093 | €91,961 | -€229,132 | -71.4% |
| Financial income | 75/76B | €3,099 | €2,034 | -€1,064 | -34.3% |
| Recurring financial income | 75 | €3,099 | €2,034 | -€1,064 | -34.3% |
| Financial charges | 65/66B | €98,141 | €10,204 | -€87,937 | -89.6% |
| Recurring financial charges | 65 | €98,141 | €10,204 | -€87,937 | -89.6% |
| Profit (loss) for the period before taxes | 9903 | €226,050 | €83,791 | -€142,259 | -62.9% |
| Income taxes | 67/77 | €24,655 | €41,917 | +€17,262 | +70.0% |
| Profit (loss) for the period | 9904 | €201,395 | €41,874 | -€159,521 | -79.2% |
| Profit (loss) for the period to be appropriated | 9905 | €201,395 | €41,874 | -€159,521 | -79.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.