FIZAINE: 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.
FIZAINE
Largest movements
- Receivables within one year +€321,919
up €321,919 (+14.1%), from €2.3m to €2.6m
of which Trade receivables: +€184,739
- Stocks and contracts +€212,513
up €212,513 (+8.3%), from €2.6m to €2.8m
- Tangible fixed assets -€83,350
down €83,350 (-16.4%), from €508,606 to €425,256
of which Other tangible fixed assets: -€96,183
- Cash +€65,102
up €65,102 (+34.2%), from €190,376 to €255,478
mainly Trade debts (+€741,789) and Net result for the year (+€315,359)
- Trade debts +€741,789
up €741,789 (+28.8%), from €2.6m to €3.3m
- Advances received -€107,981
down €107,981 (-92.3%), from €116,981 to €9,000
- Short-term financial debts -€81,351
down €81,351 (-15.1%), from €538,868 to €457,518
- Gross operating margin +€164,206
up €164,206 (+13.7%), from €1.2m to €1.4m
- Write-downs -€82,173
down €82,173 (-84.1%), from €97,754 to €15,581
- Financial charges -€80,227
down €80,227 (-33.3%), from €240,988 to €160,761
- Taxes +€69,144
up €69,144 (+116%), from €59,404 to €128,548
- Staff costs +€61,907
up €61,907 (+11.7%), from €530,398 to €592,305
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 | €5,591,446 | €6,113,038 | +€521,591 | +9.3% |
| Fixed assets | 21/28 | €508,606 | €425,256 | -€83,350 | -16.4% |
| Tangible fixed assets | 22/27 | €508,606 | €425,256 | -€83,350 | -16.4% |
| Plant, machinery and equipment | 23 | €224,396 | €249,752 | +€25,356 | +11.3% |
| Furniture and vehicles | 24 | €28,112 | €15,589 | -€12,523 | -44.5% |
| Other tangible fixed assets | 26 | €256,098 | €159,916 | -€96,183 | -37.6% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €5,082,840 | €5,687,781 | +€604,942 | +11.9% |
| Stocks and contracts in progress | 3 | €2,571,580 | €2,784,093 | +€212,513 | +8.3% |
| Stocks | 30/36 | €2,571,580 | €2,784,093 | +€212,513 | +8.3% |
| Amounts receivable within one year | 40/41 | €2,281,290 | €2,603,209 | +€321,919 | +14.1% |
| Trade receivables | 40 | €513,206 | €697,945 | +€184,739 | +36.0% |
| Other amounts receivable | 41 | €1,768,083 | €1,905,263 | +€137,180 | +7.8% |
| Cash at bank and in hand | 54/58 | €190,376 | €255,478 | +€65,102 | +34.2% |
| Deferred charges and accrued income | 490/1 | €39,594 | €45,002 | +€5,408 | +13.7% |
| Total equity and liabilities | 10/49 | €5,591,446 | €6,113,038 | +€521,591 | +9.3% |
| Equity | 10/15 | €744,832 | €760,191 | +€15,359 | +2.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €719,832 | €735,191 | +€15,359 | +2.1% |
| Distributable reserves | 133 | €719,832 | €735,191 | +€15,359 | +2.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €4,846,614 | €5,352,847 | +€506,233 | +10.4% |
| Amounts payable after more than one year | 17 | €350,625 | €314,792 | -€35,833 | -10.2% |
| Financial debts | 170/4 | €350,625 | €314,792 | -€35,833 | -10.2% |
| Amounts payable within one year | 42/48 | €4,488,696 | €5,027,488 | +€538,792 | +12.0% |
| Current portion of amounts payable after more than one year | 42 | €89,095 | €35,833 | -€53,262 | -59.8% |
| Financial debts | 43 | €538,868 | €457,518 | -€81,351 | -15.1% |
| Credit institutions | 430/8 | €538,868 | €457,518 | -€81,351 | -15.1% |
| Trade debts | 44 | €2,572,348 | €3,314,137 | +€741,789 | +28.8% |
| Suppliers | 440/4 | €2,572,348 | €3,314,137 | +€741,789 | +28.8% |
| Advances received on contracts in progress | 46 | €116,981 | €9,000 | -€107,981 | -92.3% |
| Taxes, remuneration and social security | 45 | €65,222 | €80,320 | +€15,098 | +23.1% |
| Taxes | 450/3 | €3,939 | €9,237 | +€5,298 | +134% |
| Remuneration and social security | 454/9 | €61,283 | €71,083 | +€9,800 | +16.0% |
| Other amounts payable | 47/48 | €1,106,182 | €1,130,680 | +€24,498 | +2.2% |
| Accrued charges and deferred income | 492/3 | €7,293 | €10,567 | +€3,274 | +44.9% |
| Remuneration, social security and pensions | 62 | €530,398 | €592,305 | +€61,907 | +11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €164,512 | €175,034 | +€10,522 | +6.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €97,754 | €15,581 | -€82,173 | -84.1% |
| Other operating charges | 640/8 | €26,051 | €29,193 | +€3,142 | +12.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €1,200,697 | €1,364,903 | +€164,206 | +13.7% |
| Operating profit (loss) | 9901 | €381,981 | €552,789 | +€170,808 | +44.7% |
| Financial income | 75/76B | €48,169 | €51,878 | +€3,709 | +7.7% |
| Recurring financial income | 75 | €48,169 | €51,878 | +€3,709 | +7.7% |
| Financial charges | 65/66B | €240,988 | €160,761 | -€80,227 | -33.3% |
| Recurring financial charges | 65 | €240,988 | €160,761 | -€80,227 | -33.3% |
| Profit (loss) for the period before taxes | 9903 | €189,163 | €443,907 | +€254,744 | +135% |
| Income taxes | 67/77 | €59,404 | €128,548 | +€69,144 | +116% |
| Profit (loss) for the period | 9904 | €129,759 | €315,359 | +€185,600 | +143% |
| Profit (loss) for the period to be appropriated | 9905 | €129,759 | €315,359 | +€185,600 | +143% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.