FISCO - GLOBE: 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.
FISCO - GLOBE
Largest movements
- Tangible fixed assets -€375,277
down €375,277 (-47.3%), from €794,045 to €418,769
of which Land and buildings: -€321,552
- Receivables within one year +€332,431
up €332,431 (+163.3%), from €203,607 to €536,038
of which Other amounts receivable: +€326,314
- Cash +€125,455
new in 2025: €125,455
mainly Investment in fixed assets (net) (+€348,918) and Current portion of long-term debt (+€113,852)
- Deferred charges and accrued income -€55,476
down €55,476 (-28.0%), from €198,000 to €142,524
- Current portion of long-term debt +€113,852
up €113,852 (+108.8%), from €104,618 to €218,469
- Short-term financial debts -€92,318
no longer reported in 2025 (was €92,318)
- Reserves +€76,674
up €76,674 (+16.3%), from €469,712 to €546,387
of which Distributable reserves: +€153,753
- Accrued charges and deferred income -€34,370
no longer reported in 2025 (was €34,370)
- Trade debts -€30,067
down €30,067 (-19.6%), from €153,243 to €123,176
- Gross operating margin +€98,065
up €98,065 (+31.3%), from €313,731 to €411,796
- Taxes +€35,713
up €35,713 (+70.1%), from €50,925 to €86,638
- Financial income +€29,058
up €29,058 (+274.6%), from €10,582 to €39,639
- Depreciation -€16,487
down €16,487 (-38.5%), from €42,846 to €26,359
- Staff costs +€11,795
up €11,795 (+10.7%), from €109,825 to €121,620
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 | €1,570,652 | €1,597,785 | +€27,133 | +1.7% |
| Fixed assets | 21/28 | €794,045 | €418,769 | -€375,277 | -47.3% |
| Tangible fixed assets | 22/27 | €794,045 | €418,769 | -€375,277 | -47.3% |
| Land and buildings | 22 | €717,628 | €396,076 | -€321,552 | -44.8% |
| Plant, machinery and equipment | 23 | €653 | - | -€653 | |
| Furniture and vehicles | 24 | €29,264 | €22,692 | -€6,571 | -22.5% |
| Other tangible fixed assets | 26 | €46,500 | - | -€46,500 | |
| Current assets | 29/58 | €776,607 | €1,179,017 | +€402,410 | +51.8% |
| Amounts receivable after more than one year | 29 | €375,000 | €375,000 | = | 0.0% |
| Other amounts receivable | 291 | €375,000 | €375,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €203,607 | €536,038 | +€332,431 | +163.3% |
| Trade receivables | 40 | - | €6,117 | +€6,117 | |
| Other amounts receivable | 41 | €203,607 | €529,921 | +€326,314 | +160.3% |
| Cash at bank and in hand | 54/58 | - | €125,455 | +€125,455 | |
| Deferred charges and accrued income | 490/1 | €198,000 | €142,524 | -€55,476 | -28.0% |
| Total equity and liabilities | 10/49 | €1,570,652 | €1,597,785 | +€27,133 | +1.7% |
| Equity | 10/15 | €835,820 | €912,494 | +€76,674 | +9.2% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Revaluation surpluses | 12 | €247,885 | €247,885 | = | 0.0% |
| Reserves | 13 | €469,712 | €546,387 | +€76,674 | +16.3% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Tax-exempt reserves | 132 | €155,265 | €78,187 | -€77,078 | -49.6% |
| Distributable reserves | 133 | €312,547 | €466,300 | +€153,753 | +49.2% |
| Profit (loss) carried forward | 14 | €99,223 | €99,223 | = | 0.0% |
| Provisions and deferred taxes | 16 | €35,066 | €9,021 | -€26,045 | -74.3% |
| Deferred taxes | 168 | €35,066 | €9,021 | -€26,045 | -74.3% |
| Amounts payable | 17/49 | €699,766 | €676,270 | -€23,496 | -3.4% |
| Amounts payable after more than one year | 17 | €241,028 | €270,209 | +€29,181 | +12.1% |
| Financial debts | 170/4 | €241,028 | €270,209 | +€29,181 | +12.1% |
| Amounts payable within one year | 42/48 | €424,368 | €406,061 | -€18,307 | -4.3% |
| Current portion of amounts payable after more than one year | 42 | €104,618 | €218,469 | +€113,852 | +108.8% |
| Financial debts | 43 | €92,318 | - | -€92,318 | |
| Credit institutions | 430/8 | €92,318 | - | -€92,318 | |
| Trade debts | 44 | €153,243 | €123,176 | -€30,067 | -19.6% |
| Suppliers | 440/4 | €153,243 | €123,176 | -€30,067 | -19.6% |
| Taxes, remuneration and social security | 45 | €74,189 | €64,415 | -€9,774 | -13.2% |
| Taxes | 450/3 | €59,790 | €58,430 | -€1,360 | -2.3% |
| Remuneration and social security | 454/9 | €14,400 | €5,985 | -€8,414 | -58.4% |
| Accrued charges and deferred income | 492/3 | €34,370 | - | -€34,370 | |
| Non-recurring operating income | 76A | - | €198,172 | +€198,172 | |
| Remuneration, social security and pensions | 62 | €109,825 | €121,620 | +€11,795 | +10.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,846 | €26,359 | -€16,487 | -38.5% |
| Other operating charges | 640/8 | €19,987 | €18,634 | -€1,353 | -6.8% |
| Non-recurring operating charges | 66A | - | €107,300 | +€107,300 | |
| Gross operating margin | 9900 | €313,731 | €411,796 | +€98,065 | +31.3% |
| Operating profit (loss) | 9901 | €141,072 | €137,883 | -€3,189 | -2.3% |
| Financial income | 75/76B | €10,582 | €39,639 | +€29,058 | +274.6% |
| Recurring financial income | 75 | €10,582 | €39,639 | +€29,058 | +274.6% |
| Financial charges | 65/66B | €36,564 | €40,255 | +€3,691 | +10.1% |
| Recurring financial charges | 65 | €36,564 | €40,255 | +€3,691 | +10.1% |
| Profit (loss) for the period before taxes | 9903 | €115,090 | €137,267 | +€22,178 | +19.3% |
| Transfer from deferred taxes | 780 | €1,948 | €26,045 | +€24,097 | +1237.0% |
| Income taxes | 67/77 | €50,925 | €86,638 | +€35,713 | +70.1% |
| Profit (loss) for the period | 9904 | €66,113 | €76,674 | +€10,562 | +16.0% |
| Transfer from tax-exempt reserves | 789 | €4,786 | €77,078 | +€72,292 | +1510.4% |
| Profit (loss) for the period to be appropriated | 9905 | €70,899 | €153,753 | +€82,854 | +116.9% |
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 2 October 2026 via checked.be.