FISCARO: 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.
FISCARO
Largest movements
- Tangible fixed assets -€24,362
down €24,362 (-16.5%), from €147,526 to €123,164
of which Land and buildings: -€17,940
- Receivables within one year -€16,987
down €16,987 (-32.2%), from €52,688 to €35,702
of which Trade receivables: -€17,950
- Current investments +€4,800
up €4,800 (+75.0%), from €6,400 to €11,200
- Receivables after one year -€3,460
down €3,460 (-10.1%), from €34,289 to €30,829
- Profit (loss) carried forward -€25,000
down €25,000 (-46.0%), from €54,377 to €29,377
- Debts after one year -€16,081
down €16,081 (-13.3%), from €121,062 to €104,982
- Reserves +€10,681
up €10,681 (+35.7%), from €29,930 to €40,611
of which Distributable reserves: +€10,681
- Tax, wage and social debts -€7,001
down €7,001 (-24.7%), from €28,304 to €21,303
of which Taxes: -€7,100
- Gross operating margin +€6,982
up €6,982 (+10.7%), from €64,970 to €71,952
- Taxes +€3,958
up €3,958 (+216%), from €1,831 to €5,789
- Depreciation -€3,553
down €3,553 (-12.7%), from €27,915 to €24,362
- Staff costs +€2,348
up €2,348 (+13.9%), from €16,903 to €19,250
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 | €259,713 | €221,270 | -€38,444 | -14.8% |
| Fixed assets | 21/28 | €147,526 | €123,164 | -€24,362 | -16.5% |
| Tangible fixed assets | 22/27 | €147,526 | €123,164 | -€24,362 | -16.5% |
| Land and buildings | 22 | €136,045 | €118,105 | -€17,940 | -13.2% |
| Plant, machinery and equipment | 23 | €1,308 | €834 | -€474 | -36.2% |
| Furniture and vehicles | 24 | €2,535 | - | -€2,535 | |
| Other tangible fixed assets | 26 | €7,638 | €4,226 | -€3,413 | -44.7% |
| Current assets | 29/58 | €112,187 | €98,106 | -€14,081 | -12.6% |
| Amounts receivable after more than one year | 29 | €34,289 | €30,829 | -€3,460 | -10.1% |
| Other amounts receivable | 291 | €34,289 | €30,829 | -€3,460 | -10.1% |
| Amounts receivable within one year | 40/41 | €52,688 | €35,702 | -€16,987 | -32.2% |
| Trade receivables | 40 | €35,044 | €17,094 | -€17,950 | -51.2% |
| Other amounts receivable | 41 | €17,644 | €18,607 | +€963 | +5.5% |
| Current investments | 50/53 | €6,400 | €11,200 | +€4,800 | +75.0% |
| Cash at bank and in hand | 54/58 | €15,060 | €17,558 | +€2,499 | +16.6% |
| Deferred charges and accrued income | 490/1 | €3,750 | €2,817 | -€933 | -24.9% |
| Total equity and liabilities | 10/49 | €259,713 | €221,270 | -€38,444 | -14.8% |
| Equity | 10/15 | €91,507 | €77,188 | -€14,319 | -15.6% |
| Contributions | 10/11 | €7,200 | €7,200 | = | 0.0% |
| Reserves | 13 | €29,930 | €40,611 | +€10,681 | +35.7% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Distributable reserves | 133 | €28,030 | €38,711 | +€10,681 | +38.1% |
| Profit (loss) carried forward | 14 | €54,377 | €29,377 | -€25,000 | -46.0% |
| Amounts payable | 17/49 | €168,206 | €144,082 | -€24,124 | -14.3% |
| Amounts payable after more than one year | 17 | €121,062 | €104,982 | -€16,081 | -13.3% |
| Financial debts | 170/4 | €121,062 | €104,982 | -€16,081 | -13.3% |
| Amounts payable within one year | 42/48 | €47,144 | €39,101 | -€8,044 | -17.1% |
| Current portion of amounts payable after more than one year | 42 | €18,241 | €16,081 | -€2,160 | -11.8% |
| Trade debts | 44 | €599 | €563 | -€37 | -6.2% |
| Suppliers | 440/4 | €599 | €563 | -€37 | -6.2% |
| Advances received on contracts in progress | 46 | - | €1,155 | +€1,155 | |
| Taxes, remuneration and social security | 45 | €28,304 | €21,303 | -€7,001 | -24.7% |
| Taxes | 450/3 | €27,125 | €20,025 | -€7,100 | -26.2% |
| Remuneration and social security | 454/9 | €1,179 | €1,277 | +€98 | +8.3% |
| Remuneration, social security and pensions | 62 | €16,903 | €19,250 | +€2,348 | +13.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,915 | €24,362 | -€3,553 | -12.7% |
| Other operating charges | 640/8 | €4,695 | €4,776 | +€81 | +1.7% |
| Non-recurring operating charges | 66A | €25 | - | -€25 | |
| Gross operating margin | 9900 | €64,970 | €71,952 | +€6,982 | +10.7% |
| Operating profit (loss) | 9901 | €15,432 | €23,563 | +€8,131 | +52.7% |
| Financial income | 75/76B | €667 | €995 | +€328 | +49.1% |
| Recurring financial income | 75 | €667 | €995 | +€328 | +49.1% |
| Financial charges | 65/66B | €8,660 | €8,089 | -€571 | -6.6% |
| Recurring financial charges | 65 | €8,660 | €8,089 | -€571 | -6.6% |
| Profit (loss) for the period before taxes | 9903 | €7,440 | €16,469 | +€9,030 | +121% |
| Income taxes | 67/77 | €1,831 | €5,789 | +€3,958 | +216% |
| Profit (loss) for the period | 9904 | €5,609 | €10,681 | +€5,072 | +90.4% |
| Profit (loss) for the period to be appropriated | 9905 | €5,609 | €10,681 | +€5,072 | +90.4% |
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 14 October 2026 via checked.be.