FOSEA: 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.
FOSEA
Largest movements
- Cash +€269,122
up €269,122 (+642.6%), from €41,878 to €311,000
mainly Net result for the year (+€161,334) and Tax, wage and social debts (+€99,179)
- Tangible fixed assets -€18,261
down €18,261 (-6.0%), from €306,567 to €288,306
of which Land and buildings: -€16,798
- Profit (loss) carried forward +€161,334
up €161,334 (+45.9%), from €351,177 to €512,511
- Tax, wage and social debts +€99,179
up €99,179 (+180.3%), from €55,020 to €154,198
of which Taxes: +€95,500
- Other debts +€20,212
up €20,212 (+10.1%), from €199,600 to €219,812
- Trade debts -€15,867
down €15,867 (-47.9%), from €33,149 to €17,282
- Debts after one year -€12,462
down €12,462 (-7.9%), from €158,162 to €145,700
- Gross operating margin +€207,816
up €207,816 (+111.6%), from €186,278 to €394,094
- Taxes +€43,663
up €43,663 (+379.7%), from €11,500 to €55,163
- Staff costs +€41,792
up €41,792 (+37.5%), from €111,425 to €153,217
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 | €818,092 | €1,071,062 | +€252,970 | +30.9% |
| Fixed assets | 21/28 | €658,582 | €640,321 | -€18,261 | -2.8% |
| Tangible fixed assets | 22/27 | €306,567 | €288,306 | -€18,261 | -6.0% |
| Land and buildings | 22 | €301,500 | €284,702 | -€16,798 | -5.6% |
| Plant, machinery and equipment | 23 | €4,070 | €3,007 | -€1,063 | -26.1% |
| Furniture and vehicles | 24 | €997 | €597 | -€400 | -40.1% |
| Financial fixed assets | 28 | €352,015 | €352,015 | = | 0.0% |
| Current assets | 29/58 | €159,510 | €430,741 | +€271,232 | +170.0% |
| Amounts receivable within one year | 40/41 | €117,631 | €119,741 | +€2,110 | +1.8% |
| Trade receivables | 40 | €117,030 | €119,741 | +€2,712 | +2.3% |
| Other amounts receivable | 41 | €602 | - | -€602 | |
| Cash at bank and in hand | 54/58 | €41,878 | €311,000 | +€269,122 | +642.6% |
| Total equity and liabilities | 10/49 | €818,092 | €1,071,062 | +€252,970 | +30.9% |
| Equity | 10/15 | €359,237 | €520,571 | +€161,334 | +44.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €351,177 | €512,511 | +€161,334 | +45.9% |
| Amounts payable | 17/49 | €458,855 | €550,491 | +€91,636 | +20.0% |
| Amounts payable after more than one year | 17 | €158,162 | €145,700 | -€12,462 | -7.9% |
| Financial debts | 170/4 | €158,162 | €145,700 | -€12,462 | -7.9% |
| Amounts payable within one year | 42/48 | €300,693 | €404,791 | +€104,098 | +34.6% |
| Current portion of amounts payable after more than one year | 42 | €12,925 | €13,499 | +€575 | +4.4% |
| Trade debts | 44 | €33,149 | €17,282 | -€15,867 | -47.9% |
| Suppliers | 440/4 | €33,149 | €17,282 | -€15,867 | -47.9% |
| Taxes, remuneration and social security | 45 | €55,020 | €154,198 | +€99,179 | +180.3% |
| Taxes | 450/3 | €40,694 | €136,195 | +€95,500 | +234.7% |
| Remuneration and social security | 454/9 | €14,325 | €18,004 | +€3,679 | +25.7% |
| Other amounts payable | 47/48 | €199,600 | €219,812 | +€20,212 | +10.1% |
| Remuneration, social security and pensions | 62 | €111,425 | €153,217 | +€41,792 | +37.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,935 | €18,261 | -€673 | -3.6% |
| Other operating charges | 640/8 | €2,878 | €3,043 | +€165 | +5.7% |
| Gross operating margin | 9900 | €186,278 | €394,094 | +€207,816 | +111.6% |
| Operating profit (loss) | 9901 | €53,040 | €219,572 | +€166,532 | +314.0% |
| Financial income | 75/76B | €18 | €249 | +€231 | +1293.0% |
| Recurring financial income | 75 | €18 | €249 | +€231 | +1293.0% |
| Financial charges | 65/66B | €3,518 | €3,325 | -€193 | -5.5% |
| Recurring financial charges | 65 | €3,518 | €3,325 | -€193 | -5.5% |
| Profit (loss) for the period before taxes | 9903 | €49,540 | €216,497 | +€166,956 | +337.0% |
| Income taxes | 67/77 | €11,500 | €55,163 | +€43,663 | +379.7% |
| Profit (loss) for the period | 9904 | €38,040 | €161,334 | +€123,294 | +324.1% |
| Profit (loss) for the period to be appropriated | 9905 | €38,040 | €161,334 | +€123,294 | +324.1% |
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.