FISCADV: 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.
FISCADV
Largest movements
- Receivables within one year +€63,485
up €63,485 (+65.8%), from €96,470 to €159,955
of which Trade receivables: +€48,035
- Tangible fixed assets -€35,234
down €35,234 (-15.2%), from €232,247 to €197,013
of which Plant, machinery and equipment: -€26,435
- Formation expenses -€9,357
down €9,357 (-26.7%), from €35,089 to €25,732
- Other debts +€49,807
up €49,807 (+35.7%), from €139,391 to €189,198
- Debts after one year -€28,382
down €28,382 (-15.0%), from €188,597 to €160,215
- Gross operating margin +€87,428
up €87,428 (+49.6%), from €176,217 to €263,645
- Taxes +€21,007
up €21,007 (+79.2%), from €26,519 to €47,525
- Provisions -€19,589
new in 2025: -€19,589
- Depreciation +€4,388
up €4,388 (+9.7%), from €45,115 to €49,502
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 | €395,103 | €415,708 | +€20,605 | +5.2% |
| Formation expenses | 20 | €35,089 | €25,732 | -€9,357 | -26.7% |
| Fixed assets | 21/28 | €233,247 | €198,013 | -€35,234 | -15.1% |
| Tangible fixed assets | 22/27 | €232,247 | €197,013 | -€35,234 | -15.2% |
| Plant, machinery and equipment | 23 | €201,734 | €175,299 | -€26,435 | -13.1% |
| Furniture and vehicles | 24 | €30,513 | €21,715 | -€8,799 | -28.8% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €126,767 | €191,962 | +€65,196 | +51.4% |
| Amounts receivable within one year | 40/41 | €96,470 | €159,955 | +€63,485 | +65.8% |
| Trade receivables | 40 | €96,470 | €144,505 | +€48,035 | +49.8% |
| Other amounts receivable | 41 | - | €15,450 | +€15,450 | |
| Cash at bank and in hand | 54/58 | €29,705 | €29,397 | -€309 | -1.0% |
| Deferred charges and accrued income | 490/1 | €591 | €2,611 | +€2,020 | +341.5% |
| Total equity and liabilities | 10/49 | €395,103 | €415,708 | +€20,605 | +5.2% |
| Equity | 10/15 | €18,983 | €18,983 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €383 | €383 | = | 0.0% |
| Amounts payable | 17/49 | €376,120 | €396,725 | +€20,605 | +5.5% |
| Amounts payable after more than one year | 17 | €188,597 | €160,215 | -€28,382 | -15.0% |
| Financial debts | 170/4 | €188,597 | €160,215 | -€28,382 | -15.0% |
| Amounts payable within one year | 42/48 | €187,523 | €236,510 | +€48,987 | +26.1% |
| Current portion of amounts payable after more than one year | 42 | €31,229 | €30,155 | -€1,074 | -3.4% |
| Trade debts | 44 | - | €1,598 | +€1,598 | |
| Suppliers | 440/4 | - | €1,598 | +€1,598 | |
| Advances received on contracts in progress | 46 | - | €1,000 | +€1,000 | |
| Taxes, remuneration and social security | 45 | €16,903 | €14,559 | -€2,344 | -13.9% |
| Taxes | 450/3 | €16,903 | €14,559 | -€2,344 | -13.9% |
| Other amounts payable | 47/48 | €139,391 | €189,198 | +€49,807 | +35.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,115 | €49,502 | +€4,388 | +9.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€19,589 | -€19,589 | |
| Other operating charges | 640/8 | €755 | €895 | +€139 | +18.5% |
| Gross operating margin | 9900 | €176,217 | €263,645 | +€87,428 | +49.6% |
| Operating profit (loss) | 9901 | €130,347 | €232,837 | +€102,490 | +78.6% |
| Financial income | 75/76B | - | €85 | +€85 | |
| Recurring financial income | 75 | - | €85 | +€85 | |
| Financial charges | 65/66B | €4,391 | €3,521 | -€869 | -19.8% |
| Recurring financial charges | 65 | €4,391 | €3,521 | -€869 | -19.8% |
| Profit (loss) for the period before taxes | 9903 | €125,956 | €229,400 | +€103,444 | +82.1% |
| Income taxes | 67/77 | €26,519 | €47,525 | +€21,007 | +79.2% |
| Profit (loss) for the period | 9904 | €99,437 | €181,875 | +€82,437 | +82.9% |
| Profit (loss) for the period to be appropriated | 9905 | €99,437 | €181,875 | +€82,437 | +82.9% |
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 11 October 2026 via checked.be.