FISCO PROPERTY: 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 PROPERTY
NACE 68.110, Buying and selling of own real estate
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€110,867
2024 · €114,248-€3,380
Equity
€2.1m
2024 · €2.0m+€110,867
Cash
€40,011
2024 · €37,427+€2,585
Balance sheet total
€6.7m
2024 · €5.7m+€1.0m
Largest movements
Assets
- Tangible fixed assets +€700,518
up €700,518 (+31.8%), from €2.2m to €2.9m
- Receivables within one year +€321,382
up €321,382 (+22.3%), from €1.4m to €1.8m
of which Other amounts receivable: +€162,445
Equity and liabilities
- Debts after one year +€425,632
up €425,632 (+34.1%), from €1.2m to €1.7m
- Other debts +€285,302
up €285,302 (+18.7%), from €1.5m to €1.8m
- Trade debts +€117,148
up €117,148 (+18.3%), from €640,234 to €757,382
- Profit (loss) carried forward +€110,867
up €110,867 (+6.0%), from €1.8m to €2.0m
Income statement
- Gross operating margin +€166,226
up €166,226 (+24.8%), from €671,522 to €837,748
- Depreciation +€115,955
up €115,955 (+67.2%), from €172,669 to €288,624
- Staff costs +€51,197
up €51,197 (+34.5%), from €148,281 to €199,478
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
€114,248
Gross operating margin
+€166,226
Staff costs
-€51,197
Depreciation
-€115,955
Other operating charges
-€1,400
Financial income
+€0
Financial charges
+€194
Taxes
-€1,248
Result 2025
€110,867
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
+€520,408
Investment
-€989,142
Financing
+€471,319
Cash 2024
€37,427
From operations (derived)
+€520,408
Net result for the year
+€110,867
Depreciation
+€288,624
Receivables within one year
-€321,382
Deferred charges and accrued income
+€13,805
Trade debts
+€117,148
Tax, wage and social debts
+€26,044
Other debts
+€285,302
Investment (derived)
-€989,142
Investment in fixed assets (net)
-€989,142
Financing
+€471,319
Debts after one year
+€425,632
Current portion of long-term debt
+€45,686
Cash 2025
€40,011
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,690,007 | €6,700,687 | +€1.0m | +17.8% |
| Fixed assets | 21/28 | €4,199,849 | €4,900,367 | +€700,518 | +16.7% |
| Tangible fixed assets | 22/27 | €2,199,849 | €2,900,367 | +€700,518 | +31.8% |
| Land and buildings | 22 | €2,199,849 | €2,900,367 | +€700,518 | +31.8% |
| Financial fixed assets | 28 | €2,000,000 | €2,000,000 | = | 0.0% |
| Current assets | 29/58 | €1,490,159 | €1,800,321 | +€310,162 | +20.8% |
| Amounts receivable within one year | 40/41 | €1,438,291 | €1,759,673 | +€321,382 | +22.3% |
| Trade receivables | 40 | €710,428 | €869,365 | +€158,937 | +22.4% |
| Other amounts receivable | 41 | €727,863 | €890,307 | +€162,445 | +22.3% |
| Cash at bank and in hand | 54/58 | €37,427 | €40,011 | +€2,585 | +6.9% |
| Deferred charges and accrued income | 490/1 | €14,441 | €637 | -€13,805 | -95.6% |
| Total equity and liabilities | 10/49 | €5,690,007 | €6,700,687 | +€1.0m | +17.8% |
| Equity | 10/15 | €1,951,280 | €2,062,147 | +€110,867 | +5.7% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €86,700 | €86,700 | = | 0.0% |
| Tax-exempt reserves | 132 | €84,200 | €84,200 | = | 0.0% |
| Distributable reserves | 133 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,839,580 | €1,950,447 | +€110,867 | +6.0% |
| Amounts payable | 17/49 | €3,738,728 | €4,638,541 | +€899,813 | +24.1% |
| Amounts payable after more than one year | 17 | €1,249,928 | €1,675,560 | +€425,632 | +34.1% |
| Financial debts | 170/4 | €1,249,928 | €1,675,560 | +€425,632 | +34.1% |
| Amounts payable within one year | 42/48 | €2,458,800 | €2,932,981 | +€474,180 | +19.3% |
| Current portion of amounts payable after more than one year | 42 | €180,178 | €225,864 | +€45,686 | +25.4% |
| Trade debts | 44 | €640,234 | €757,382 | +€117,148 | +18.3% |
| Suppliers | 440/4 | €640,234 | €757,382 | +€117,148 | +18.3% |
| Taxes, remuneration and social security | 45 | €111,249 | €137,293 | +€26,044 | +23.4% |
| Taxes | 450/3 | €75,765 | €97,933 | +€22,169 | +29.3% |
| Remuneration and social security | 454/9 | €35,485 | €39,360 | +€3,875 | +10.9% |
| Other amounts payable | 47/48 | €1,527,140 | €1,812,442 | +€285,302 | +18.7% |
| Accrued charges and deferred income | 492/3 | €30,000 | €30,000 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €148,281 | €199,478 | +€51,197 | +34.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €172,669 | €288,624 | +€115,955 | +67.2% |
| Other operating charges | 640/8 | €5,930 | €7,329 | +€1,400 | +23.6% |
| Gross operating margin | 9900 | €671,522 | €837,748 | +€166,226 | +24.8% |
| Operating profit (loss) | 9901 | €344,643 | €342,317 | -€2,327 | -0.7% |
| Financial income | 75/76B | €12,000 | €12,000 | +€0 | 0.0% |
| Recurring financial income | 75 | €12,000 | €12,000 | +€0 | 0.0% |
| Financial charges | 65/66B | €204,849 | €204,655 | -€194 | -0.1% |
| Recurring financial charges | 65 | €204,849 | €204,655 | -€194 | -0.1% |
| Profit (loss) for the period before taxes | 9903 | €151,794 | €149,661 | -€2,133 | -1.4% |
| Income taxes | 67/77 | €37,546 | €38,794 | +€1,248 | +3.3% |
| Profit (loss) for the period | 9904 | €114,248 | €110,867 | -€3,380 | -3.0% |
| Transfer to tax-exempt reserves | 689 | €84,200 | - | -€84,200 | |
| Profit (loss) for the period to be appropriated | 9905 | €30,048 | €110,867 | +€80,820 | +269% |
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 15 October 2026 via checked.be.