FOX W: what changed
Two fiscal 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 W
Largest movements
- Cash -€191,491
down €191,491 (-81.5%), from €235,056 to €43,566
mainly Trade debts (-€164,984) and Stocks and contracts (-€22,746)
- Stocks and contracts +€22,746
up €22,746 (+9.8%), from €233,191 to €255,937
- Receivables within one year +€8,692
up €8,692 (+23.8%), from €36,530 to €45,222
of which Other amounts receivable: +€17,316
- Tangible fixed assets -€5,508
down €5,508 (-80.9%), from €6,813 to €1,305
of which Furniture and vehicles: -€4,950
- Trade debts -€164,984
down €164,984 (-46.6%), from €353,868 to €188,884
- Profit (loss) carried forward +€11,989
up €11,989 (+67.0%), from €17,901 to €29,890
- Tax, wage and social debts -€10,555
down €10,555 (-11.9%), from €88,704 to €78,149
of which Remuneration and social security: -€18,625
- Gross operating margin +€16,889
up €16,889 (+9.9%), from €170,001 to €186,890
- Staff costs -€13,678
down €13,678 (-8.1%), from €169,763 to €156,085
- Taxes +€4,069
up €4,069, from €0 to €4,069
- Financial income -€2,455
down €2,455 (-70.0%), from €3,506 to €1,051
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 | €512,038 | €346,477 | -€165,561 | -32.3% |
| Fixed assets | 21/28 | €7,260 | €1,752 | -€5,508 | -75.9% |
| Tangible fixed assets | 22/27 | €6,813 | €1,305 | -€5,508 | -80.9% |
| Plant, machinery and equipment | 23 | €1,862 | €1,305 | -€558 | -29.9% |
| Furniture and vehicles | 24 | €4,950 | €0 | -€4,950 | -100.0% |
| Financial fixed assets | 28 | €448 | €448 | = | 0.0% |
| Current assets | 29/58 | €504,777 | €344,724 | -€160,053 | -31.7% |
| Stocks and contracts in progress | 3 | €233,191 | €255,937 | +€22,746 | +9.8% |
| Stocks | 30/36 | €233,191 | €255,937 | +€22,746 | +9.8% |
| Amounts receivable within one year | 40/41 | €36,530 | €45,222 | +€8,692 | +23.8% |
| Trade receivables | 40 | €34,356 | €25,732 | -€8,624 | -25.1% |
| Other amounts receivable | 41 | €2,175 | €19,491 | +€17,316 | +796.3% |
| Cash at bank and in hand | 54/58 | €235,056 | €43,566 | -€191,491 | -81.5% |
| Total equity and liabilities | 10/49 | €512,038 | €346,477 | -€165,561 | -32.3% |
| Equity | 10/15 | €67,401 | €79,390 | +€11,989 | +17.8% |
| Contributions | 10/11 | €45,000 | €45,000 | = | 0.0% |
| Reserves | 13 | €4,500 | €4,500 | = | 0.0% |
| Distributable reserves | 133 | €4,500 | €4,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,901 | €29,890 | +€11,989 | +67.0% |
| Amounts payable | 17/49 | €444,636 | €267,087 | -€177,550 | -39.9% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €444,636 | €267,087 | -€177,550 | -39.9% |
| Current portion of amounts payable after more than one year | 42 | €2,010 | €0 | -€2,010 | -100.0% |
| Trade debts | 44 | €353,868 | €188,884 | -€164,984 | -46.6% |
| Suppliers | 440/4 | €353,868 | €188,884 | -€164,984 | -46.6% |
| Taxes, remuneration and social security | 45 | €88,704 | €78,149 | -€10,555 | -11.9% |
| Taxes | 450/3 | €51,144 | €59,214 | +€8,069 | +15.8% |
| Remuneration and social security | 454/9 | €37,559 | €18,935 | -€18,625 | -49.6% |
| Other amounts payable | 47/48 | €54 | €54 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €169,763 | €156,085 | -€13,678 | -8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,885 | €5,508 | -€377 | -6.4% |
| Other operating charges | 640/8 | €328 | €873 | +€546 | +166.6% |
| Gross operating margin | 9900 | €170,001 | €186,890 | +€16,889 | +9.9% |
| Operating profit (loss) | 9901 | -€5,975 | €24,423 | +€30,398 | |
| Financial income | 75/76B | €3,506 | €1,051 | -€2,455 | -70.0% |
| Recurring financial income | 75 | €3,506 | €1,051 | -€2,455 | -70.0% |
| Financial charges | 65/66B | €8,393 | €9,417 | +€1,025 | +12.2% |
| Recurring financial charges | 65 | €8,393 | €9,417 | +€1,025 | +12.2% |
| Profit (loss) for the period before taxes | 9903 | -€10,861 | €16,058 | +€26,919 | |
| Income taxes | 67/77 | €0 | €4,069 | +€4,069 | |
| Profit (loss) for the period | 9904 | -€10,861 | €11,989 | +€22,850 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,861 | €11,989 | +€22,850 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.