FiveCO: 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.
FiveCO
Largest movements
- Financial fixed assets +€3.0m
new in 2025: €3.0m
- Current investments -€2.9m
no longer reported in 2025 (was €2.9m)
- Tangible fixed assets +€482,679
up €482,679 (+24.3%), from €2.0m to €2.5m
- Cash -€90,333
down €90,333 (-92.2%), from €97,949 to €7,616
mainly Investment in fixed assets (net) (-€3.6m) and Trade debts (-€151,790)
- Receivables within one year +€58,624
up €58,624 (+64.3%), from €91,190 to €149,813
of which Other amounts receivable: +€53,413
- Debts after one year +€724,778
up €724,778 (+14.3%), from €5.1m to €5.8m
of which Financial debts: +€701,868
- Trade debts -€151,790
down €151,790 (-99.5%), from €152,478 to €688
- Gross operating margin +€66,470
up €66,470, from -€62,014 to €4,456
- Financial income +€26,018
up €26,018 (+31.9%), from €81,571 to €107,589
- Write-downs +€7,334
new in 2025: €7,334
- Depreciation +€4,607
up €4,607 (+10.0%), from €46,301 to €50,908
- Financial charges +€1,184
up €1,184 (+1.2%), from €96,689 to €97,873
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 | €5,123,537 | €5,654,745 | +€531,208 | +10.4% |
| Fixed assets | 21/28 | €1,990,267 | €5,497,316 | +€3.5m | +176.2% |
| Tangible fixed assets | 22/27 | €1,990,267 | €2,472,946 | +€482,679 | +24.3% |
| Land and buildings | 22 | €1,990,267 | €2,472,946 | +€482,679 | +24.3% |
| Financial fixed assets | 28 | - | €3,024,370 | +€3.0m | |
| Current assets | 29/58 | €3,133,270 | €157,429 | -€3.0m | -95.0% |
| Amounts receivable within one year | 40/41 | €91,190 | €149,813 | +€58,624 | +64.3% |
| Trade receivables | 40 | €1,315 | €6,526 | +€5,210 | +396.1% |
| Other amounts receivable | 41 | €89,874 | €143,288 | +€53,413 | +59.4% |
| Current investments | 50/53 | €2,943,360 | - | -€2.9m | |
| Cash at bank and in hand | 54/58 | €97,949 | €7,616 | -€90,333 | -92.2% |
| Deferred charges and accrued income | 490/1 | €771 | - | -€771 | |
| Total equity and liabilities | 10/49 | €5,123,537 | €5,654,745 | +€531,208 | +10.4% |
| Equity | 10/15 | -€137,706 | -€188,571 | -€50,865 | -36.9% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€257,706 | -€308,571 | -€50,865 | -19.7% |
| Amounts payable | 17/49 | €5,261,243 | €5,843,316 | +€582,073 | +11.1% |
| Amounts payable after more than one year | 17 | €5,066,202 | €5,790,980 | +€724,778 | +14.3% |
| Financial debts | 170/4 | €2,052,152 | €2,754,020 | +€701,868 | +34.2% |
| Other amounts payable | 178/9 | €3,014,050 | €3,036,960 | +€22,910 | +0.8% |
| Amounts payable within one year | 42/48 | €191,105 | €51,126 | -€139,978 | -73.2% |
| Current portion of amounts payable after more than one year | 42 | €38,627 | €50,345 | +€11,718 | +30.3% |
| Trade debts | 44 | €152,478 | €688 | -€151,790 | -99.5% |
| Suppliers | 440/4 | €152,478 | €688 | -€151,790 | -99.5% |
| Other amounts payable | 47/48 | - | €93 | +€93 | |
| Accrued charges and deferred income | 492/3 | €3,937 | €1,210 | -€2,727 | -69.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,301 | €50,908 | +€4,607 | +10.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €7,334 | +€7,334 | |
| Other operating charges | 640/8 | €6,016 | €6,795 | +€778 | +12.9% |
| Gross operating margin | 9900 | -€62,014 | €4,456 | +€66,470 | |
| Operating profit (loss) | 9901 | -€114,331 | -€60,580 | +€53,751 | +47.0% |
| Financial income | 75/76B | €81,571 | €107,589 | +€26,018 | +31.9% |
| Recurring financial income | 75 | €81,571 | €107,589 | +€26,018 | +31.9% |
| Financial charges | 65/66B | €96,689 | €97,873 | +€1,184 | +1.2% |
| Recurring financial charges | 65 | €96,689 | €97,873 | +€1,184 | +1.2% |
| Profit (loss) for the period before taxes | 9903 | -€129,449 | -€50,865 | +€78,585 | +60.7% |
| Profit (loss) for the period | 9904 | -€129,449 | -€50,865 | +€78,585 | +60.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€129,449 | -€50,865 | +€78,585 | +60.7% |
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 6 October 2026 via checked.be.