FISCOBEL: 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.
FISCOBEL
Largest movements
- Receivables within one year +€56,729
up €56,729 (+174.0%), from €32,611 to €89,340
of which Trade receivables: +€58,824
- Tangible fixed assets +€39,830
up €39,830 (+31.0%), from €128,589 to €168,419
of which Furniture and vehicles: +€42,497
- Current investments -€16,500
down €16,500 (-45.8%), from €35,990 to €19,490
- Cash +€3,540
up €3,540 (+160.3%), from €2,209 to €5,748
mainly Other debts (+€44,396) and Depreciation (+€20,134)
- Other debts +€44,396
up €44,396 (+1907.2%), from €2,328 to €46,724
- Tax, wage and social debts +€12,371
up €12,371 (+45.5%), from €27,204 to €39,575
of which Remuneration and social security: +€12,802
- Debts after one year +€11,884
up €11,884 (+12.6%), from €94,647 to €106,531
of which Financial debts: +€18,484
- Reserves +€10,000
up €10,000 (+37.7%), from €26,501 to €36,501
of which Distributable reserves: +€10,000
- Profit (loss) carried forward +€8,786
up €8,786, from -€7,711 to €1,075
- Gross operating margin +€23,397
up €23,397 (+20.3%), from €115,462 to €138,859
- Depreciation -€10,447
down €10,447 (-34.2%), from €30,581 to €20,134
- Staff costs +€8,457
up €8,457 (+12.5%), from €67,814 to €76,271
- Taxes +€5,110
up €5,110 (+170.4%), from €2,999 to €8,110
- Write-downs +€2,470
new in 2025: €2,470
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 | €215,604 | €297,212 | +€81,609 | +37.9% |
| Fixed assets | 21/28 | €133,527 | €171,858 | +€38,330 | +28.7% |
| Intangible fixed assets | 21 | €4,866 | €3,366 | -€1,500 | -30.8% |
| Tangible fixed assets | 22/27 | €128,589 | €168,419 | +€39,830 | +31.0% |
| Land and buildings | 22 | €78,549 | €78,540 | -€9 | 0.0% |
| Plant, machinery and equipment | 23 | €8,770 | €6,927 | -€1,843 | -21.0% |
| Furniture and vehicles | 24 | €31,891 | €74,387 | +€42,497 | +133.3% |
| Other tangible fixed assets | 26 | €9,380 | €8,565 | -€815 | -8.7% |
| Financial fixed assets | 28 | €73 | €73 | = | 0.0% |
| Current assets | 29/58 | €82,076 | €125,355 | +€43,279 | +52.7% |
| Amounts receivable after more than one year | 29 | €975 | - | -€975 | |
| Other amounts receivable | 291 | €975 | - | -€975 | |
| Amounts receivable within one year | 40/41 | €32,611 | €89,340 | +€56,729 | +174.0% |
| Trade receivables | 40 | €20,227 | €79,051 | +€58,824 | +290.8% |
| Other amounts receivable | 41 | €12,383 | €10,289 | -€2,094 | -16.9% |
| Current investments | 50/53 | €35,990 | €19,490 | -€16,500 | -45.8% |
| Cash at bank and in hand | 54/58 | €2,209 | €5,748 | +€3,540 | +160.3% |
| Deferred charges and accrued income | 490/1 | €10,292 | €10,777 | +€485 | +4.7% |
| Total equity and liabilities | 10/49 | €215,604 | €297,212 | +€81,609 | +37.9% |
| Equity | 10/15 | €38,789 | €57,575 | +€18,786 | +48.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €26,501 | €36,501 | +€10,000 | +37.7% |
| Tax-exempt reserves | 132 | €1,301 | €1,301 | = | 0.0% |
| Distributable reserves | 133 | €25,200 | €35,200 | +€10,000 | +39.7% |
| Profit (loss) carried forward | 14 | -€7,711 | €1,075 | +€8,786 | |
| Amounts payable | 17/49 | €176,815 | €239,637 | +€62,822 | +35.5% |
| Amounts payable after more than one year | 17 | €94,647 | €106,531 | +€11,884 | +12.6% |
| Financial debts | 170/4 | €64,847 | €83,331 | +€18,484 | +28.5% |
| Other amounts payable | 178/9 | €29,800 | €23,200 | -€6,600 | -22.1% |
| Amounts payable within one year | 42/48 | €79,924 | €130,561 | +€50,637 | +63.4% |
| Current portion of amounts payable after more than one year | 42 | €37,294 | €38,117 | +€824 | +2.2% |
| Financial debts | 43 | €1,350 | €1,614 | +€264 | +19.5% |
| Credit institutions | 430/8 | €1,350 | €1,350 | = | 0.0% |
| Other loans | 439 | - | €264 | +€264 | |
| Trade debts | 44 | €11,749 | €4,532 | -€7,217 | -61.4% |
| Suppliers | 440/4 | €11,749 | €4,532 | -€7,217 | -61.4% |
| Taxes, remuneration and social security | 45 | €27,204 | €39,575 | +€12,371 | +45.5% |
| Taxes | 450/3 | €17,774 | €17,342 | -€432 | -2.4% |
| Remuneration and social security | 454/9 | €9,430 | €22,232 | +€12,802 | +135.8% |
| Other amounts payable | 47/48 | €2,328 | €46,724 | +€44,396 | +1907.2% |
| Accrued charges and deferred income | 492/3 | €2,243 | €2,545 | +€301 | +13.4% |
| Non-recurring operating income | 76A | - | €27,805 | +€27,805 | |
| Remuneration, social security and pensions | 62 | €67,814 | €76,271 | +€8,457 | +12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,581 | €20,134 | -€10,447 | -34.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,470 | +€2,470 | |
| Other operating charges | 640/8 | €2,823 | €2,543 | -€280 | -9.9% |
| Non-recurring operating charges | 66A | €59 | €1,323 | +€1,265 | +2154.6% |
| Gross operating margin | 9900 | €115,462 | €138,859 | +€23,397 | +20.3% |
| Operating profit (loss) | 9901 | €14,185 | €36,118 | +€21,933 | +154.6% |
| Financial income | 75/76B | €205 | €390 | +€185 | +90.0% |
| Recurring financial income | 75 | €205 | €390 | +€185 | +90.0% |
| Financial charges | 65/66B | €8,939 | €9,613 | +€674 | +7.5% |
| Recurring financial charges | 65 | €8,939 | €9,613 | +€674 | +7.5% |
| Profit (loss) for the period before taxes | 9903 | €5,452 | €26,896 | +€21,444 | +393.3% |
| Income taxes | 67/77 | €2,999 | €8,110 | +€5,110 | +170.4% |
| Profit (loss) for the period | 9904 | €2,453 | €18,786 | +€16,334 | +666.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,453 | €18,786 | +€16,334 | +666.0% |
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 6 October 2026 via checked.be.