FISCOWEL: 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.
FISCOWEL
Largest movements
- Receivables within one year +€62,370
up €62,370 (+150.2%), from €41,536 to €103,906
of which Trade receivables: +€64,348
- Tangible fixed assets -€28,974
down €28,974 (-30.2%), from €95,827 to €66,853
of which Furniture and vehicles: -€26,795
- Cash -€3,845
down €3,845 (-4.1%), from €93,445 to €89,600
mainly Receivables within one year (-€62,370) and Contributions, distributions and other (-€45,000)
- Reserves +€38,000
up €38,000 (+27.6%), from €137,437 to €175,437
of which Distributable reserves: +€38,000
- Debts after one year -€18,441
down €18,441 (-84.7%), from €21,777 to €3,335
- Trade debts +€13,652
up €13,652 (+74.0%), from €18,458 to €32,110
- Tax, wage and social debts -€2,980
down €2,980 (-14.2%), from €20,949 to €17,969
- Gross operating margin +€55,946
up €55,946 (+53.4%), from €104,779 to €160,724
- Taxes +€13,900
up €13,900 (+65.5%), from €21,212 to €35,112
- Write-downs +€11,450
new in 2025: €11,450
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 | €232,989 | €262,672 | +€29,683 | +12.7% |
| Fixed assets | 21/28 | €95,827 | €66,853 | -€28,974 | -30.2% |
| Tangible fixed assets | 22/27 | €95,827 | €66,853 | -€28,974 | -30.2% |
| Land and buildings | 22 | €10,656 | €8,476 | -€2,179 | -20.5% |
| Furniture and vehicles | 24 | €85,171 | €58,376 | -€26,795 | -31.5% |
| Current assets | 29/58 | €137,162 | €195,820 | +€58,657 | +42.8% |
| Amounts receivable within one year | 40/41 | €41,536 | €103,906 | +€62,370 | +150.2% |
| Trade receivables | 40 | €34,536 | €98,884 | +€64,348 | +186.3% |
| Other amounts receivable | 41 | €7,000 | €5,022 | -€1,978 | -28.3% |
| Cash at bank and in hand | 54/58 | €93,445 | €89,600 | -€3,845 | -4.1% |
| Deferred charges and accrued income | 490/1 | €2,181 | €2,314 | +€133 | +6.1% |
| Total equity and liabilities | 10/49 | €232,989 | €262,672 | +€29,683 | +12.7% |
| Equity | 10/15 | €140,845 | €178,947 | +€38,102 | +27.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €137,437 | €175,437 | +€38,000 | +27.6% |
| Tax-exempt reserves | 132 | €437 | €437 | = | 0.0% |
| Distributable reserves | 133 | €137,000 | €175,000 | +€38,000 | +27.7% |
| Profit (loss) carried forward | 14 | €1,408 | €1,510 | +€102 | +7.3% |
| Amounts payable | 17/49 | €92,145 | €83,725 | -€8,419 | -9.1% |
| Amounts payable after more than one year | 17 | €21,777 | €3,335 | -€18,441 | -84.7% |
| Financial debts | 170/4 | €21,777 | €3,335 | -€18,441 | -84.7% |
| Amounts payable within one year | 42/48 | €70,368 | €80,390 | +€10,022 | +14.2% |
| Current portion of amounts payable after more than one year | 42 | €20,131 | €18,441 | -€1,689 | -8.4% |
| Trade debts | 44 | €18,458 | €32,110 | +€13,652 | +74.0% |
| Suppliers | 440/4 | €18,458 | €32,110 | +€13,652 | +74.0% |
| Taxes, remuneration and social security | 45 | €20,949 | €17,969 | -€2,980 | -14.2% |
| Taxes | 450/3 | €20,949 | €17,969 | -€2,980 | -14.2% |
| Other amounts payable | 47/48 | €10,831 | €11,870 | +€1,039 | +9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,122 | €30,023 | -€99 | -0.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €11,450 | +€11,450 | |
| Other operating charges | 640/8 | €655 | €683 | +€29 | +4.4% |
| Gross operating margin | 9900 | €104,779 | €160,724 | +€55,946 | +53.4% |
| Operating profit (loss) | 9901 | €74,002 | €118,568 | +€44,566 | +60.2% |
| Financial income | 75/76B | €323 | €909 | +€586 | +181.8% |
| Recurring financial income | 75 | €323 | €909 | +€586 | +181.8% |
| Financial charges | 65/66B | €1,705 | €1,263 | -€442 | -25.9% |
| Recurring financial charges | 65 | €1,705 | €1,263 | -€442 | -25.9% |
| Profit (loss) for the period before taxes | 9903 | €72,620 | €118,214 | +€45,595 | +62.8% |
| Income taxes | 67/77 | €21,212 | €35,112 | +€13,900 | +65.5% |
| Profit (loss) for the period | 9904 | €51,408 | €83,102 | +€31,695 | +61.7% |
| Profit (loss) for the period to be appropriated | 9905 | €51,408 | €83,102 | +€31,695 | +61.7% |
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 3 October 2026 via checked.be.