FOUAD FISH: 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.
FOUAD FISH
Largest movements
- Tangible fixed assets +€50,182
up €50,182 (+408%), from €12,294 to €62,476
of which Furniture and vehicles: +€50,374
- Cash +€9,110
up €9,110 (+38.3%), from €23,774 to €32,883
mainly Net result for the year (+€35,476) and Debts after one year (+€24,942)
- Stocks and contracts +€4,475
up €4,475 (+24.8%), from €18,036 to €22,511
- Receivables within one year +€4,414
up €4,414 (+4.9%), from €89,706 to €94,120
- Profit (loss) carried forward +€34,776
up €34,776 (+43.0%), from €80,860 to €115,636
- Debts after one year +€24,942
new in 2025: €24,942
- Current portion of long-term debt +€6,564
new in 2025: €6,564
- Tax, wage and social debts +€2,446
up €2,446 (+12.0%), from €20,416 to €22,862
of which Remuneration and social security: +€3,611
- Turnover -€880,216
no longer reported in 2025 (was €880,216)
- Purchases and services -€832,635
no longer reported in 2025 (was €832,635)
- Gross operating margin +€28,628
up €28,628 (+60.2%), from €47,580 to €76,208
- Taxes -€16,550
down €16,550 (-85.7%), from €19,307 to €2,758
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 | €145,050 | €213,231 | +€68,181 | +47.0% |
| Fixed assets | 21/28 | €13,534 | €63,716 | +€50,182 | +371% |
| Tangible fixed assets | 22/27 | €12,294 | €62,476 | +€50,182 | +408% |
| Furniture and vehicles | 24 | €10,713 | €61,087 | +€50,374 | +470% |
| Other tangible fixed assets | 26 | €1,581 | €1,390 | -€191 | -12.1% |
| Financial fixed assets | 28 | €1,240 | €1,240 | = | 0.0% |
| Current assets | 29/58 | €131,516 | €149,514 | +€17,998 | +13.7% |
| Stocks and contracts in progress | 3 | €18,036 | €22,511 | +€4,475 | +24.8% |
| Stocks | 30/36 | €18,036 | €22,511 | +€4,475 | +24.8% |
| Amounts receivable within one year | 40/41 | €89,706 | €94,120 | +€4,414 | +4.9% |
| Trade receivables | 40 | €89,706 | €94,120 | +€4,414 | +4.9% |
| Cash at bank and in hand | 54/58 | €23,774 | €32,883 | +€9,110 | +38.3% |
| Total equity and liabilities | 10/49 | €145,050 | €213,231 | +€68,181 | +47.0% |
| Equity | 10/15 | €101,311 | €136,088 | +€34,776 | +34.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €80,860 | €115,636 | +€34,776 | +43.0% |
| Amounts payable | 17/49 | €43,738 | €77,143 | +€33,405 | +76.4% |
| Amounts payable after more than one year | 17 | - | €24,942 | +€24,942 | |
| Financial debts | 170/4 | - | €24,942 | +€24,942 | |
| Amounts payable within one year | 42/48 | €43,738 | €52,201 | +€8,463 | +19.3% |
| Current portion of amounts payable after more than one year | 42 | - | €6,564 | +€6,564 | |
| Trade debts | 44 | €23,322 | €22,775 | -€547 | -2.3% |
| Suppliers | 440/4 | €23,322 | €22,775 | -€547 | -2.3% |
| Taxes, remuneration and social security | 45 | €20,416 | €22,862 | +€2,446 | +12.0% |
| Taxes | 450/3 | €16,460 | €15,294 | -€1,166 | -7.1% |
| Remuneration and social security | 454/9 | €3,957 | €7,568 | +€3,611 | +91.3% |
| Turnover | 70 | €880,216 | - | -€880,216 | |
| Goods, raw materials, services and sundry goods | 60/61 | €832,635 | - | -€832,635 | |
| Remuneration, social security and pensions | 62 | €17,512 | €22,826 | +€5,314 | +30.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,519 | €12,312 | +€5,793 | +88.9% |
| Other operating charges | 640/8 | €3,209 | €1,244 | -€1,965 | -61.2% |
| Gross operating margin | 9900 | €47,580 | €76,208 | +€28,628 | +60.2% |
| Operating profit (loss) | 9901 | €20,340 | €39,826 | +€19,486 | +95.8% |
| Financial charges | 65/66B | €863 | €1,592 | +€729 | +84.5% |
| Recurring financial charges | 65 | €863 | €1,592 | +€729 | +84.5% |
| Profit (loss) for the period before taxes | 9903 | €19,477 | €38,234 | +€18,757 | +96.3% |
| Income taxes | 67/77 | €19,307 | €2,758 | -€16,550 | -85.7% |
| Profit (loss) for the period | 9904 | €169 | €35,476 | +€35,307 | +20,867% |
| Profit (loss) for the period to be appropriated | 9905 | €169 | €35,476 | +€35,307 | +20,867% |
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 18 October 2026 via checked.be.