Fox Squad: 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.
Fox Squad
Largest movements
- Cash +€79,273
up €79,273 (+22.6%), from €350,942 to €430,215
mainly Net result for the year (+€61,422) and Depreciation (+€23,896)
- Tangible fixed assets -€23,896
down €23,896 (-28.4%), from €84,093 to €60,197
- Deferred charges and accrued income -€5,352
no longer reported in 2025 (was €5,352)
- Reserves +€61,422
up €61,422 (+29.4%), from €209,227 to €270,649
- Debts after one year -€12,942
down €12,942 (-31.2%), from €41,491 to €28,549
- Tax, wage and social debts -€5,968
down €5,968 (-50.3%), from €11,867 to €5,898
- Gross operating margin -€8,786
down €8,786 (-7.3%), from €120,460 to €111,674
- Staff costs -€4,916
no longer reported in 2025 (was €4,916)
- Financial income -€4,667
down €4,667 (-82.3%), from €5,668 to €1,001
- Taxes -€1,573
down €1,573 (-6.2%), from €25,369 to €23,796
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 | €477,080 | €525,360 | +€48,280 | +10.1% |
| Fixed assets | 21/28 | €84,093 | €60,197 | -€23,896 | -28.4% |
| Tangible fixed assets | 22/27 | €84,093 | €60,197 | -€23,896 | -28.4% |
| Furniture and vehicles | 24 | €84,093 | €60,197 | -€23,896 | -28.4% |
| Current assets | 29/58 | €392,986 | €465,162 | +€72,176 | +18.4% |
| Amounts receivable within one year | 40/41 | €36,692 | €34,948 | -€1,744 | -4.8% |
| Trade receivables | 40 | €36,692 | €34,948 | -€1,744 | -4.8% |
| Cash at bank and in hand | 54/58 | €350,942 | €430,215 | +€79,273 | +22.6% |
| Deferred charges and accrued income | 490/1 | €5,352 | - | -€5,352 | |
| Total equity and liabilities | 10/49 | €477,080 | €525,360 | +€48,280 | +10.1% |
| Equity | 10/15 | €319,420 | €380,842 | +€61,422 | +19.2% |
| Contributions | 10/11 | €24,694 | €24,694 | = | 0.0% |
| Reserves | 13 | €209,227 | €270,649 | +€61,422 | +29.4% |
| Distributable reserves | 133 | €209,227 | €270,649 | +€61,422 | +29.4% |
| Profit (loss) carried forward | 14 | €85,499 | €85,499 | = | 0.0% |
| Amounts payable | 17/49 | €157,660 | €144,517 | -€13,142 | -8.3% |
| Amounts payable after more than one year | 17 | €41,491 | €28,549 | -€12,942 | -31.2% |
| Financial debts | 170/4 | €41,491 | €28,549 | -€12,942 | -31.2% |
| Amounts payable within one year | 42/48 | €114,169 | €113,969 | -€200 | -0.2% |
| Current portion of amounts payable after more than one year | 42 | €12,473 | €12,942 | +€469 | +3.8% |
| Trade debts | 44 | €21,413 | €22,568 | +€1,156 | +5.4% |
| Suppliers | 440/4 | €21,413 | €22,568 | +€1,156 | +5.4% |
| Taxes, remuneration and social security | 45 | €11,867 | €5,898 | -€5,968 | -50.3% |
| Taxes | 450/3 | €11,867 | €5,898 | -€5,968 | -50.3% |
| Other amounts payable | 47/48 | €68,416 | €72,559 | +€4,143 | +6.1% |
| Accrued charges and deferred income | 492/3 | €2,000 | €2,000 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €4,916 | - | -€4,916 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,842 | €23,896 | +€55 | +0.2% |
| Other operating charges | 640/8 | €1,147 | €1,719 | +€572 | +49.8% |
| Non-recurring operating charges | 66A | €3,239 | - | -€3,239 | |
| Gross operating margin | 9900 | €120,460 | €111,674 | -€8,786 | -7.3% |
| Operating profit (loss) | 9901 | €87,317 | €86,059 | -€1,258 | -1.4% |
| Financial income | 75/76B | €5,668 | €1,001 | -€4,667 | -82.3% |
| Recurring financial income | 75 | €5,668 | €1,001 | -€4,667 | -82.3% |
| Financial charges | 65/66B | €2,577 | €1,841 | -€735 | -28.5% |
| Recurring financial charges | 65 | €2,577 | €1,841 | -€735 | -28.5% |
| Profit (loss) for the period before taxes | 9903 | €90,408 | €85,219 | -€5,190 | -5.7% |
| Income taxes | 67/77 | €25,369 | €23,796 | -€1,573 | -6.2% |
| Profit (loss) for the period | 9904 | €65,039 | €61,422 | -€3,616 | -5.6% |
| Profit (loss) for the period to be appropriated | 9905 | €65,039 | €61,422 | -€3,616 | -5.6% |
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 12 October 2026 via checked.be.