FOX THE FOX: 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 THE FOX
Largest movements
- Intangible fixed assets -€88,690
down €88,690 (-38.6%), from €229,484 to €140,794
- Receivables within one year +€5,308
up €5,308 (+138%), from €3,853 to €9,161
of which Trade receivables: +€6,100
- Cash -€3,650
down €3,650 (-8.3%), from €43,902 to €40,251
mainly Contributions, distributions and other (-€66,670) and Net result for the year (-€17,683)
- Investment grants -€66,670
down €66,670 (-28.5%), from €233,950 to €167,280
- Profit (loss) carried forward -€17,683
down €17,683 (-600%), from -€2,946 to -€20,629
- Trade debts -€12,172
down €12,172 (-82.5%), from €14,754 to €2,582
- Other debts +€8,983
up €8,983 (+6,107%), from €147 to €9,130
- Gross operating margin -€21,483
down €21,483 (-23.1%), from €93,048 to €71,565
- Financial income +€1,437
new in 2025: €1,437
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 | €280,626 | €192,706 | -€87,920 | -31.3% |
| Fixed assets | 21/28 | €232,846 | €143,269 | -€89,577 | -38.5% |
| Intangible fixed assets | 21 | €229,484 | €140,794 | -€88,690 | -38.6% |
| Tangible fixed assets | 22/27 | €3,361 | €2,474 | -€887 | -26.4% |
| Plant, machinery and equipment | 23 | €3,361 | €2,474 | -€887 | -26.4% |
| Current assets | 29/58 | €47,780 | €49,438 | +€1,658 | +3.5% |
| Amounts receivable within one year | 40/41 | €3,853 | €9,161 | +€5,308 | +138% |
| Trade receivables | 40 | - | €6,100 | +€6,100 | |
| Other amounts receivable | 41 | €3,853 | €3,062 | -€791 | -20.5% |
| Current investments | 50/53 | €25 | €25 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €43,902 | €40,251 | -€3,650 | -8.3% |
| Total equity and liabilities | 10/49 | €280,626 | €192,706 | -€87,920 | -31.3% |
| Equity | 10/15 | €237,205 | €152,852 | -€84,353 | -35.6% |
| Contributions | 10/11 | €6,201 | €6,201 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,946 | -€20,629 | -€17,683 | -600% |
| Investment grants | 15 | €233,950 | €167,280 | -€66,670 | -28.5% |
| Amounts payable | 17/49 | €43,421 | €39,855 | -€3,566 | -8.2% |
| Amounts payable within one year | 42/48 | €43,421 | €39,855 | -€3,566 | -8.2% |
| Current portion of amounts payable after more than one year | 42 | €27,900 | €27,900 | = | 0.0% |
| Trade debts | 44 | €14,754 | €2,582 | -€12,172 | -82.5% |
| Suppliers | 440/4 | €14,754 | €2,582 | -€12,172 | -82.5% |
| Taxes, remuneration and social security | 45 | €621 | €243 | -€377 | -60.8% |
| Taxes | 450/3 | €621 | €243 | -€377 | -60.8% |
| Other amounts payable | 47/48 | €147 | €9,130 | +€8,983 | +6,107% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,577 | €89,577 | +€0 | 0.0% |
| Other operating charges | 640/8 | €384 | €775 | +€390 | +102% |
| Gross operating margin | 9900 | €93,048 | €71,565 | -€21,483 | -23.1% |
| Operating profit (loss) | 9901 | €3,086 | -€18,787 | -€21,873 | |
| Financial income | 75/76B | - | €1,437 | +€1,437 | |
| Recurring financial income | 75 | - | €1,437 | +€1,437 | |
| Financial charges | 65/66B | €938 | €333 | -€605 | -64.5% |
| Recurring financial charges | 65 | €938 | €333 | -€605 | -64.5% |
| Profit (loss) for the period before taxes | 9903 | €2,148 | -€17,683 | -€19,832 | |
| Profit (loss) for the period | 9904 | €2,148 | -€17,683 | -€19,832 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,148 | -€17,683 | -€19,832 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.