Fishtail: 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.
Fishtail
Largest movements
- Cash +€98,014
up €98,014 (+141.9%), from €69,092 to €167,106
mainly Net result for the year (+€80,908) and Receivables within one year (+€53,112)
- Receivables within one year -€53,112
down €53,112 (-59.8%), from €88,883 to €35,770
of which Other amounts receivable: -€54,404
- Current investments +€29,000
up €29,000 (+263.6%), from €11,000 to €40,000
- Financial fixed assets +€10,206
up €10,206 (+68.0%), from €15,000 to €25,206
- Profit (loss) carried forward +€51,908
up €51,908 (+60.5%), from €85,766 to €137,674
- Tax, wage and social debts +€33,092
up €33,092 (+66.0%), from €50,140 to €83,232
of which Taxes: +€35,346
- Trade debts -€10,706
down €10,706 (-34.1%), from €31,357 to €20,651
- Other debts +€9,538
new in 2025: €9,538
- Gross operating margin +€41,373
up €41,373 (+21.7%), from €190,273 to €231,647
- Staff costs +€22,608
up €22,608 (+35.3%), from €63,996 to €86,605
- Financial charges +€20,733
up €20,733 (+497.6%), from €4,167 to €24,900
- Other operating charges -€11,389
down €11,389 (-80.1%), from €14,219 to €2,831
- Taxes +€10,605
up €10,605 (+47.5%), from €22,347 to €32,952
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 | €208,379 | €292,095 | +€83,715 | +40.2% |
| Fixed assets | 21/28 | €20,991 | €32,168 | +€11,177 | +53.2% |
| Tangible fixed assets | 22/27 | €5,991 | €6,963 | +€971 | +16.2% |
| Plant, machinery and equipment | 23 | €4,651 | €5,187 | +€535 | +11.5% |
| Furniture and vehicles | 24 | €1,340 | €1,776 | +€436 | +32.5% |
| Financial fixed assets | 28 | €15,000 | €25,206 | +€10,206 | +68.0% |
| Current assets | 29/58 | €187,388 | €259,926 | +€72,538 | +38.7% |
| Amounts receivable after more than one year | 29 | €13,800 | €13,800 | = | 0.0% |
| Other amounts receivable | 291 | €13,800 | €13,800 | = | 0.0% |
| Stocks and contracts in progress | 3 | €3,250 | €3,250 | = | 0.0% |
| Stocks | 30/36 | €3,250 | €3,250 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €88,883 | €35,770 | -€53,112 | -59.8% |
| Trade receivables | 40 | - | €1,292 | +€1,292 | |
| Other amounts receivable | 41 | €88,883 | €34,478 | -€54,404 | -61.2% |
| Current investments | 50/53 | €11,000 | €40,000 | +€29,000 | +263.6% |
| Cash at bank and in hand | 54/58 | €69,092 | €167,106 | +€98,014 | +141.9% |
| Deferred charges and accrued income | 490/1 | €1,364 | - | -€1,364 | |
| Total equity and liabilities | 10/49 | €208,379 | €292,095 | +€83,715 | +40.2% |
| Equity | 10/15 | €126,883 | €178,674 | +€51,791 | +40.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €40,116 | €40,000 | -€116 | -0.3% |
| Non-distributable reserves | 130/1 | €11,000 | €40,000 | +€29,000 | +263.6% |
| Own shares acquired | 1312 | €11,000 | €40,000 | +€29,000 | +263.6% |
| Distributable reserves | 133 | €29,116 | - | -€29,116 | |
| Profit (loss) carried forward | 14 | €85,766 | €137,674 | +€51,908 | +60.5% |
| Amounts payable | 17/49 | €81,497 | €113,421 | +€31,924 | +39.2% |
| Amounts payable within one year | 42/48 | €81,497 | €113,421 | +€31,924 | +39.2% |
| Trade debts | 44 | €31,357 | €20,651 | -€10,706 | -34.1% |
| Suppliers | 440/4 | €31,357 | €20,651 | -€10,706 | -34.1% |
| Taxes, remuneration and social security | 45 | €50,140 | €83,232 | +€33,092 | +66.0% |
| Taxes | 450/3 | €21,606 | €56,952 | +€35,346 | +163.6% |
| Remuneration and social security | 454/9 | €28,533 | €26,280 | -€2,254 | -7.9% |
| Other amounts payable | 47/48 | - | €9,538 | +€9,538 | |
| Remuneration, social security and pensions | 62 | €63,996 | €86,605 | +€22,608 | +35.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,348 | €3,452 | +€1,104 | +47.0% |
| Other operating charges | 640/8 | €14,219 | €2,831 | -€11,389 | -80.1% |
| Gross operating margin | 9900 | €190,273 | €231,647 | +€41,373 | +21.7% |
| Operating profit (loss) | 9901 | €109,710 | €138,759 | +€29,050 | +26.5% |
| Financial income | 75/76B | €809 | - | -€809 | |
| Recurring financial income | 75 | €809 | - | -€809 | |
| Financial charges | 65/66B | €4,167 | €24,900 | +€20,733 | +497.6% |
| Recurring financial charges | 65 | €4,167 | €24,900 | +€20,733 | +497.6% |
| Profit (loss) for the period before taxes | 9903 | €106,352 | €113,860 | +€7,507 | +7.1% |
| Income taxes | 67/77 | €22,347 | €32,952 | +€10,605 | +47.5% |
| Profit (loss) for the period | 9904 | €84,005 | €80,908 | -€3,098 | -3.7% |
| Profit (loss) for the period to be appropriated | 9905 | €84,005 | €80,908 | -€3,098 | -3.7% |
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 29 September 2026 via checked.be.