FISCINVEST: 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.
FISCINVEST
Largest movements
- Cash +€52,437
up €52,437 (+74.4%), from €70,518 to €122,955
mainly Net result for the year (+€56,736) and Depreciation (+€30,835)
- Tangible fixed assets -€15,050
down €15,050 (-3.1%), from €488,597 to €473,547
of which Furniture and vehicles: -€12,458
- Reserves +€52,779
up €52,779 (+33.4%), from €158,004 to €210,783
of which Distributable reserves: +€54,214
- Debts after one year -€29,725
down €29,725 (-7.2%), from €410,929 to €381,204
of which Financial debts: -€32,608
- Gross operating margin +€109,800
up €109,800 (+100%), from €109,717 to €219,517
- Staff costs +€30,380
up €30,380 (+48.6%), from €62,461 to €92,841
- Taxes +€20,435
up €20,435 (+764%), from €2,673 to €23,109
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 | €624,353 | €659,631 | +€35,278 | +5.7% |
| Fixed assets | 21/28 | €512,447 | €496,147 | -€16,300 | -3.2% |
| Intangible fixed assets | 21 | €3,750 | €2,500 | -€1,250 | -33.3% |
| Tangible fixed assets | 22/27 | €488,597 | €473,547 | -€15,050 | -3.1% |
| Land and buildings | 22 | €398,665 | €400,580 | +€1,915 | +0.5% |
| Plant, machinery and equipment | 23 | €4 | - | -€4 | |
| Furniture and vehicles | 24 | €52,739 | €40,281 | -€12,458 | -23.6% |
| Other tangible fixed assets | 26 | €37,189 | €32,686 | -€4,503 | -12.1% |
| Financial fixed assets | 28 | €20,100 | €20,100 | = | 0.0% |
| Current assets | 29/58 | €111,906 | €163,485 | +€51,578 | +46.1% |
| Amounts receivable within one year | 40/41 | €10,932 | €5,357 | -€5,575 | -51.0% |
| Other amounts receivable | 41 | €10,932 | €5,357 | -€5,575 | -51.0% |
| Cash at bank and in hand | 54/58 | €70,518 | €122,955 | +€52,437 | +74.4% |
| Deferred charges and accrued income | 490/1 | €30,456 | €35,173 | +€4,716 | +15.5% |
| Total equity and liabilities | 10/49 | €624,353 | €659,631 | +€35,278 | +5.7% |
| Equity | 10/15 | €154,047 | €210,783 | +€56,736 | +36.8% |
| Reserves | 13 | €158,004 | €210,783 | +€52,779 | +33.4% |
| Tax-exempt reserves | 132 | €1,435 | - | -€1,435 | |
| Distributable reserves | 133 | €156,569 | €210,783 | +€54,214 | +34.6% |
| Profit (loss) carried forward | 14 | -€3,957 | - | +€3,957 | |
| Amounts payable | 17/49 | €470,306 | €448,849 | -€21,457 | -4.6% |
| Amounts payable after more than one year | 17 | €410,929 | €381,204 | -€29,725 | -7.2% |
| Financial debts | 170/4 | €261,259 | €228,652 | -€32,608 | -12.5% |
| Other amounts payable | 178/9 | €149,670 | €152,553 | +€2,883 | +1.9% |
| Amounts payable within one year | 42/48 | €49,879 | €57,146 | +€7,267 | +14.6% |
| Current portion of amounts payable after more than one year | 42 | €31,988 | €32,608 | +€620 | +1.9% |
| Trade debts | 44 | €4,202 | €4,814 | +€613 | +14.6% |
| Suppliers | 440/4 | €4,202 | €4,814 | +€613 | +14.6% |
| Taxes, remuneration and social security | 45 | €13,689 | €19,575 | +€5,886 | +43.0% |
| Taxes | 450/3 | €6,025 | €6,640 | +€615 | +10.2% |
| Remuneration and social security | 454/9 | €7,664 | €12,935 | +€5,271 | +68.8% |
| Other amounts payable | 47/48 | - | €148 | +€148 | |
| Accrued charges and deferred income | 492/3 | €9,498 | €10,499 | +€1,001 | +10.5% |
| Non-recurring operating income | 76A | - | €13,727 | +€13,727 | |
| Remuneration, social security and pensions | 62 | €62,461 | €92,841 | +€30,380 | +48.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,057 | €30,835 | +€778 | +2.6% |
| Other operating charges | 640/8 | €1,993 | €1,979 | -€14 | -0.7% |
| Non-recurring operating charges | 66A | €405 | - | -€405 | |
| Gross operating margin | 9900 | €109,717 | €219,517 | +€109,800 | +100% |
| Operating profit (loss) | 9901 | €14,801 | €93,862 | +€79,060 | +534% |
| Financial income | 75/76B | €354 | €596 | +€242 | +68.4% |
| Recurring financial income | 75 | €354 | €596 | +€242 | +68.4% |
| Financial charges | 65/66B | €15,730 | €14,613 | -€1,117 | -7.1% |
| Recurring financial charges | 65 | €15,730 | €14,613 | -€1,117 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | -€575 | €79,844 | +€80,419 | |
| Income taxes | 67/77 | €2,673 | €23,109 | +€20,435 | +764% |
| Profit (loss) for the period | 9904 | -€3,248 | €56,736 | +€59,983 | |
| Transfer from tax-exempt reserves | 789 | - | €1,435 | +€1,435 | |
| Transfer to tax-exempt reserves | 689 | €709 | - | -€709 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,957 | €58,171 | +€62,127 |
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 26 October 2026 via checked.be.