FISCO MANAGEMENT: 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.
What changed
FISCO MANAGEMENT
NACE 69.201, Certified accountants and tax accountants
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1,648
2024 · €18,957-€17,309
Equity
€86,789
2024 · €85,141+€1,648
Cash
€30,138
2024 · €29,671+€467
Balance sheet total
€194,984
2024 · €208,613-€13,629
Largest movements
Assets
- Tangible fixed assets -€12,616
down €12,616 (-9.1%), from €139,063 to €126,447
of which Land and buildings: -€8,463
- Receivables within one year -€2,110
down €2,110 (-28.3%), from €7,467 to €5,356
of which Trade receivables: -€3,364
Equity and liabilities
- Debts after one year -€10,193
down €10,193 (-12.7%), from €80,457 to €70,265
- Trade debts -€4,258
down €4,258 (-43.2%), from €9,864 to €5,606
Income statement
- Financial income -€12,563
no longer reported in 2025 (was €12,563)
- Gross operating margin -€3,548
down €3,548 (-5.2%), from €67,671 to €64,123
- Taxes +€2,249
up €2,249 (+62.6%), from €3,591 to €5,841
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.
Result 2024
€18,957
Gross operating margin
-€3,548
Staff costs
+€531
Depreciation
+€400
Write-downs
+€273
Other operating charges
-€455
Financial income
-€12,563
Financial charges
+€303
Taxes
-€2,249
Result 2025
€1,648
raises the resultlowers the result
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.
From operations
+€12,568
Investment
€0
Financing
-€12,102
Cash 2024
€29,671
From operations (derived)
+€12,568
Net result for the year
+€1,648
Depreciation
+€12,616
Receivables within one year
+€2,110
Deferred charges and accrued income
-€631
Trade debts
-€4,258
Tax, wage and social debts
+€900
Advances received
+€689
Other debts
-€507
Financing
-€12,102
Debts after one year
-€10,193
Current portion of long-term debt
-€1,909
Cash 2025
€30,138
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €208,613 | €194,984 | -€13,629 | -6.5% |
| Fixed assets | 21/28 | €139,063 | €126,447 | -€12,616 | -9.1% |
| Tangible fixed assets | 22/27 | €139,063 | €126,447 | -€12,616 | -9.1% |
| Land and buildings | 22 | €121,843 | €113,381 | -€8,463 | -6.9% |
| Furniture and vehicles | 24 | €17,219 | €13,066 | -€4,153 | -24.1% |
| Current assets | 29/58 | €69,551 | €68,538 | -€1,013 | -1.5% |
| Amounts receivable within one year | 40/41 | €7,467 | €5,356 | -€2,110 | -28.3% |
| Trade receivables | 40 | €7,219 | €3,855 | -€3,364 | -46.6% |
| Other amounts receivable | 41 | €248 | €1,501 | +€1,253 | +506% |
| Cash at bank and in hand | 54/58 | €29,671 | €30,138 | +€467 | +1.6% |
| Deferred charges and accrued income | 490/1 | €32,413 | €33,043 | +€631 | +1.9% |
| Total equity and liabilities | 10/49 | €208,613 | €194,984 | -€13,629 | -6.5% |
| Equity | 10/15 | €85,141 | €86,789 | +€1,648 | +1.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €64,681 | €66,329 | +€1,648 | +2.5% |
| Amounts payable | 17/49 | €123,472 | €108,195 | -€15,277 | -12.4% |
| Amounts payable after more than one year | 17 | €80,457 | €70,265 | -€10,193 | -12.7% |
| Financial debts | 170/4 | €80,457 | €70,265 | -€10,193 | -12.7% |
| Amounts payable within one year | 42/48 | €43,015 | €37,931 | -€5,084 | -11.8% |
| Current portion of amounts payable after more than one year | 42 | €15,146 | €13,238 | -€1,909 | -12.6% |
| Trade debts | 44 | €9,864 | €5,606 | -€4,258 | -43.2% |
| Suppliers | 440/4 | €9,864 | €5,606 | -€4,258 | -43.2% |
| Advances received on contracts in progress | 46 | €8,397 | €9,087 | +€689 | +8.2% |
| Taxes, remuneration and social security | 45 | €7,013 | €7,913 | +€900 | +12.8% |
| Taxes | 450/3 | €4,364 | €4,108 | -€256 | -5.9% |
| Remuneration and social security | 454/9 | €2,649 | €3,805 | +€1,156 | +43.7% |
| Other amounts payable | 47/48 | €2,594 | €2,087 | -€507 | -19.5% |
| Remuneration, social security and pensions | 62 | €37,126 | €36,595 | -€531 | -1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,016 | €12,616 | -€400 | -3.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,023 | €750 | -€273 | -26.7% |
| Other operating charges | 640/8 | - | €455 | +€455 | |
| Gross operating margin | 9900 | €67,671 | €64,123 | -€3,548 | -5.2% |
| Operating profit (loss) | 9901 | €16,506 | €13,707 | -€2,799 | -17.0% |
| Financial income | 75/76B | €12,563 | - | -€12,563 | |
| Recurring financial income | 75 | €12,563 | - | -€12,563 | |
| Financial charges | 65/66B | €6,521 | €6,218 | -€303 | -4.6% |
| Recurring financial charges | 65 | €6,521 | €6,218 | -€303 | -4.6% |
| Profit (loss) for the period before taxes | 9903 | €22,548 | €7,488 | -€15,059 | -66.8% |
| Income taxes | 67/77 | €3,591 | €5,841 | +€2,249 | +62.6% |
| Profit (loss) for the period | 9904 | €18,957 | €1,648 | -€17,309 | -91.3% |
| Profit (loss) for the period to be appropriated | 9905 | €18,957 | €1,648 | -€17,309 | -91.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.