FOSCARI: 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.
FOSCARI
Largest movements
- Receivables within one year +€77,507
up €77,507 (+1363.8%), from €5,683 to €83,190
of which Other amounts receivable: +€71,832
- Cash -€38,479
no longer reported in 2025 (was €38,479)
mainly Receivables within one year (-€77,507) and Net result for the year (-€24,410)
- Stocks and contracts +€10,446
new in 2025: €10,446
- Deferred charges and accrued income +€6,826
up €6,826 (+48175.4%), from €14 to €6,841
- Financial fixed assets +€6,800
up €6,800 (+518.3%), from €1,312 to €8,112
- Tax, wage and social debts +€44,857
up €44,857 (+96.0%), from €46,747 to €91,605
of which Taxes: +€38,436
- Trade debts +€32,279
up €32,279 (+94.1%), from €34,310 to €66,589
- Profit (loss) carried forward -€24,410
down €24,410 (-15.9%), from -€153,713 to -€178,123
- Short-term financial debts +€8,485
new in 2025: €8,485
- Other debts -€3,408
no longer reported in 2025 (was €3,408)
- Gross operating margin -€59,908
down €59,908 (-28.1%), from €212,968 to €153,060
- Staff costs -€49,478
down €49,478 (-23.7%), from €208,836 to €159,358
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 | €61,042 | €120,158 | +€59,116 | +96.8% |
| Fixed assets | 21/28 | €16,865 | €19,681 | +€2,816 | +16.7% |
| Tangible fixed assets | 22/27 | €15,553 | €11,569 | -€3,984 | -25.6% |
| Plant, machinery and equipment | 23 | €15,553 | €10,369 | -€5,184 | -33.3% |
| Furniture and vehicles | 24 | - | €1,200 | +€1,200 | |
| Financial fixed assets | 28 | €1,312 | €8,112 | +€6,800 | +518.3% |
| Current assets | 29/58 | €44,177 | €100,477 | +€56,300 | +127.4% |
| Stocks and contracts in progress | 3 | - | €10,446 | +€10,446 | |
| Stocks | 30/36 | - | €10,446 | +€10,446 | |
| Amounts receivable within one year | 40/41 | €5,683 | €83,190 | +€77,507 | +1363.8% |
| Trade receivables | 40 | - | €5,675 | +€5,675 | |
| Other amounts receivable | 41 | €5,683 | €77,515 | +€71,832 | +1264.0% |
| Cash at bank and in hand | 54/58 | €38,479 | - | -€38,479 | |
| Deferred charges and accrued income | 490/1 | €14 | €6,841 | +€6,826 | +48175.4% |
| Total equity and liabilities | 10/49 | €61,042 | €120,158 | +€59,116 | +96.8% |
| Equity | 10/15 | -€28,963 | -€53,374 | -€24,410 | -84.3% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €64,750 | €64,750 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,000 | €6,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,000 | €6,000 | = | 0.0% |
| Distributable reserves | 133 | €58,750 | €58,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€153,713 | -€178,123 | -€24,410 | -15.9% |
| Amounts payable | 17/49 | €90,005 | €173,531 | +€83,526 | +92.8% |
| Amounts payable within one year | 42/48 | €90,005 | €173,531 | +€83,526 | +92.8% |
| Current portion of amounts payable after more than one year | 42 | €5,540 | €6,853 | +€1,312 | +23.7% |
| Financial debts | 43 | - | €8,485 | +€8,485 | |
| Credit institutions | 430/8 | - | €8,485 | +€8,485 | |
| Trade debts | 44 | €34,310 | €66,589 | +€32,279 | +94.1% |
| Suppliers | 440/4 | €34,310 | €66,589 | +€32,279 | +94.1% |
| Taxes, remuneration and social security | 45 | €46,747 | €91,605 | +€44,857 | +96.0% |
| Taxes | 450/3 | €13,345 | €51,781 | +€38,436 | +288.0% |
| Remuneration and social security | 454/9 | €33,403 | €39,824 | +€6,421 | +19.2% |
| Other amounts payable | 47/48 | €3,408 | - | -€3,408 | |
| Remuneration, social security and pensions | 62 | €208,836 | €159,358 | -€49,478 | -23.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,184 | €5,184 | = | 0.0% |
| Other operating charges | 640/8 | €6,250 | €8,098 | +€1,847 | +29.6% |
| Gross operating margin | 9900 | €212,968 | €153,060 | -€59,908 | -28.1% |
| Operating profit (loss) | 9901 | -€7,302 | -€19,579 | -€12,277 | -168.1% |
| Financial charges | 65/66B | €5,508 | €4,831 | -€677 | -12.3% |
| Recurring financial charges | 65 | €5,508 | €4,831 | -€677 | -12.3% |
| Profit (loss) for the period before taxes | 9903 | -€12,811 | -€24,410 | -€11,600 | -90.5% |
| Profit (loss) for the period | 9904 | -€12,811 | -€24,410 | -€11,600 | -90.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,811 | -€24,410 | -€11,600 | -90.5% |
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 10 October 2026 via checked.be.