Fiwo: 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.
Fiwo
Largest movements
- Cash +€306,299
up €306,299 (+472%), from €64,918 to €371,217
mainly Other debts (+€331,528) and Net result for the year (+€57,307)
- Receivables within one year -€42,324
down €42,324 (-26.0%), from €162,778 to €120,453
of which Trade receivables: -€49,602
- Tangible fixed assets -€27,925
down €27,925 (-2.7%), from €1.0m to €996,507
of which Land and buildings: -€27,925
- Stocks and contracts -€26,077
down €26,077 (-100%), from €26,077 to €0
- Other debts +€331,528
up €331,528 (+279%), from €118,695 to €450,224
- Trade debts -€135,454
down €135,454 (-25.4%), from €534,213 to €398,760
- Reserves +€42,307
up €42,307 (+11.7%), from €361,487 to €403,794
of which Distributable reserves: +€42,307
- Debts after one year -€29,500
down €29,500 (-66.7%), from €44,250 to €14,750
- Financial charges +€14,865
up €14,865 (+288%), from €5,161 to €20,025
of which Financial charges: +€14,865
- Gross operating margin -€9,229
down €9,229 (-2.9%), from €321,595 to €312,365
- Staff costs -€8,400
down €8,400 (-4.9%), from €170,838 to €162,438
- Depreciation +€7,515
up €7,515 (+36.8%), from €20,410 to €27,925
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,281,297 | €1,490,226 | +€208,929 | +16.3% |
| Fixed assets | 21/28 | €1,025,295 | €996,507 | -€28,788 | -2.8% |
| Tangible fixed assets | 22/27 | €1,024,432 | €996,507 | -€27,925 | -2.7% |
| Land and buildings | 22 | €1,024,432 | €996,507 | -€27,925 | -2.7% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €863 | €0 | -€863 | -100% |
| Current assets | 29/58 | €256,002 | €493,719 | +€237,717 | +92.9% |
| Stocks and contracts in progress | 3 | €26,077 | €0 | -€26,077 | -100% |
| Contracts in progress | 37 | €26,077 | €0 | -€26,077 | -100% |
| Amounts receivable within one year | 40/41 | €162,778 | €120,453 | -€42,324 | -26.0% |
| Trade receivables | 40 | €162,778 | €113,176 | -€49,602 | -30.5% |
| Other amounts receivable | 41 | - | €7,278 | +€7,278 | |
| Cash at bank and in hand | 54/58 | €64,918 | €371,217 | +€306,299 | +472% |
| Deferred charges and accrued income | 490/1 | €2,229 | €2,049 | -€180 | -8.1% |
| Total equity and liabilities | 10/49 | €1,281,297 | €1,490,226 | +€208,929 | +16.3% |
| Equity | 10/15 | €486,069 | €528,377 | +€42,307 | +8.7% |
| Contributions | 10/11 | €124,583 | €124,583 | = | 0.0% |
| Reserves | 13 | €361,487 | €403,794 | +€42,307 | +11.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €359,627 | €401,934 | +€42,307 | +11.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €795,228 | €961,849 | +€166,622 | +21.0% |
| Amounts payable after more than one year | 17 | €44,250 | €14,750 | -€29,500 | -66.7% |
| Financial debts | 170/4 | €44,250 | €14,750 | -€29,500 | -66.7% |
| Amounts payable within one year | 42/48 | €750,978 | €947,099 | +€196,122 | +26.1% |
| Current portion of amounts payable after more than one year | 42 | €29,500 | €29,500 | = | 0.0% |
| Financial debts | 43 | €17,252 | €23,066 | +€5,814 | +33.7% |
| Credit institutions | 430/8 | €17,252 | €23,066 | +€5,814 | +33.7% |
| Trade debts | 44 | €534,213 | €398,760 | -€135,454 | -25.4% |
| Suppliers | 440/4 | €534,213 | €398,760 | -€135,454 | -25.4% |
| Taxes, remuneration and social security | 45 | €51,317 | €45,550 | -€5,767 | -11.2% |
| Taxes | 450/3 | €28,787 | €22,189 | -€6,598 | -22.9% |
| Remuneration and social security | 454/9 | €22,530 | €23,361 | +€831 | +3.7% |
| Other amounts payable | 47/48 | €118,695 | €450,224 | +€331,528 | +279% |
| Remuneration, social security and pensions | 62 | €170,838 | €162,438 | -€8,400 | -4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,410 | €27,925 | +€7,515 | +36.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €2,385 | €2,991 | +€606 | +25.4% |
| Gross operating margin | 9900 | €321,595 | €312,365 | -€9,229 | -2.9% |
| Operating profit (loss) | 9901 | €127,962 | €119,010 | -€8,951 | -7.0% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €5,161 | €20,025 | +€14,865 | +288% |
| Recurring financial charges | 65 | €5,161 | €20,025 | +€14,865 | +288% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €122,801 | €98,985 | -€23,816 | -19.4% |
| Income taxes | 67/77 | €40,341 | €41,678 | +€1,337 | +3.3% |
| Profit (loss) for the period | 9904 | €82,460 | €57,307 | -€25,153 | -30.5% |
| Profit (loss) for the period to be appropriated | 9905 | €82,460 | €57,307 | -€25,153 | -30.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.