FOXAL: 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.
What changed
FOXAL
NACE 70.100, Activities of head offices
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€307,676
2024 · €103,933+€203,744
Equity
€1.2m
2024 · €1.2m-€22,324
Cash
€14,664
2024 · €17,390-€2,727
Balance sheet total
€3.4m
2024 · €2.8m+€566,089
Largest movements
Assets
- Current investments +€599,435
up €599,435 (+67,088%), from €894 to €600,329
- Tangible fixed assets -€144,456
down €144,456 (-10.0%), from €1.5m to €1.3m
of which Land and buildings: -€122,502
- Receivables within one year +€115,393
up €115,393 (+157%), from €73,396 to €188,789
of which Other amounts receivable: +€118,269
Equity and liabilities
- Other debts +€575,465
up €575,465 (+40.9%), from €1.4m to €2.0m
Income statement
- Gross operating margin +€435,193
up €435,193 (+790%), from €55,066 to €490,259
- Provisions +€232,700
no longer reported in 2025 (was -€232,700)
- Taxes -€29,607
down €29,607 (-99.2%), from €29,845 to €238
- Financial charges +€16,147
up €16,147 (+19.8%), from €81,591 to €97,739
- Financial income -€13,233
down €13,233 (-96.6%), from €13,704 to €471
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.
Result 2024
€103,933
Gross operating margin
+€435,193
Depreciation
+€171
Provisions
-€232,700
Other operating charges
+€853
Financial income
-€13,233
Financial charges
-€16,147
Taxes
+€29,607
Result 2025
€307,676
raises the resultlowers the result
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.
From operations
+€859,467
Investment
-€531,774
Financing
-€330,420
Cash 2024
€17,390
From operations (derived)
+€859,467
Net result for the year
+€307,676
Depreciation
+€76,794
Receivables within one year
-€115,393
Deferred charges and accrued income
+€1,556
Provisions
-€2,430
Trade debts
+€3,463
Tax, wage and social debts
-€3,879
Other debts
+€575,465
Accrued charges and deferred income
+€16,214
Investment (derived)
-€531,774
Investment in fixed assets (net)
+€67,661
Current investments
-€599,435
Financing
-€330,420
Debts after one year
-€420
Contributions, distributions and other
-€330,000
Cash 2025
€14,664
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,807,598 | €3,373,687 | +€566,089 | +20.2% |
| Fixed assets | 21/28 | €2,713,744 | €2,569,288 | -€144,456 | -5.3% |
| Tangible fixed assets | 22/27 | €1,451,573 | €1,307,117 | -€144,456 | -10.0% |
| Land and buildings | 22 | €1,333,766 | €1,211,264 | -€122,502 | -9.2% |
| Plant, machinery and equipment | 23 | €8,244 | €12,811 | +€4,566 | +55.4% |
| Furniture and vehicles | 24 | €109,563 | €83,043 | -€26,520 | -24.2% |
| Financial fixed assets | 28 | €1,262,171 | €1,262,171 | = | 0.0% |
| Current assets | 29/58 | €93,854 | €804,399 | +€710,545 | +757% |
| Amounts receivable within one year | 40/41 | €73,396 | €188,789 | +€115,393 | +157% |
| Trade receivables | 40 | €3,381 | €505 | -€2,876 | -85.1% |
| Other amounts receivable | 41 | €70,015 | €188,284 | +€118,269 | +169% |
| Current investments | 50/53 | €894 | €600,329 | +€599,435 | +67,088% |
| Cash at bank and in hand | 54/58 | €17,390 | €14,664 | -€2,727 | -15.7% |
| Deferred charges and accrued income | 490/1 | €2,175 | €618 | -€1,556 | -71.6% |
| Total equity and liabilities | 10/49 | €2,807,598 | €3,373,687 | +€566,089 | +20.2% |
| Equity | 10/15 | €1,245,792 | €1,223,469 | -€22,324 | -1.8% |
| Contributions | 10/11 | €488,909 | €488,909 | = | 0.0% |
| Reserves | 13 | €756,884 | €734,560 | -€22,324 | -2.9% |
| Tax-exempt reserves | 132 | €120,801 | €116,081 | -€4,720 | -3.9% |
| Distributable reserves | 133 | €636,083 | €618,479 | -€17,604 | -2.8% |
| Provisions and deferred taxes | 16 | €62,203 | €59,773 | -€2,430 | -3.9% |
| Deferred taxes | 168 | €62,203 | €59,773 | -€2,430 | -3.9% |
| Amounts payable | 17/49 | €1,499,603 | €2,090,446 | +€590,843 | +39.4% |
| Amounts payable after more than one year | 17 | €420 | - | -€420 | |
| Other amounts payable | 178/9 | €420 | - | -€420 | |
| Amounts payable within one year | 42/48 | €1,414,781 | €1,989,831 | +€575,049 | +40.6% |
| Trade debts | 44 | €150 | €3,613 | +€3,463 | +2,309% |
| Suppliers | 440/4 | €150 | €3,613 | +€3,463 | +2,309% |
| Taxes, remuneration and social security | 45 | €5,943 | €2,065 | -€3,879 | -65.3% |
| Taxes | 450/3 | €5,943 | €2,065 | -€3,879 | -65.3% |
| Other amounts payable | 47/48 | €1,408,688 | €1,984,153 | +€575,465 | +40.9% |
| Accrued charges and deferred income | 492/3 | €84,401 | €100,615 | +€16,214 | +19.2% |
| Non-recurring operating income | 76A | - | €377,995 | +€377,995 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,965 | €76,794 | -€171 | -0.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€232,700 | - | +€232,700 | |
| Other operating charges | 640/8 | €11,566 | €10,713 | -€853 | -7.4% |
| Gross operating margin | 9900 | €55,066 | €490,259 | +€435,193 | +790% |
| Operating profit (loss) | 9901 | €199,235 | €402,752 | +€203,517 | +102% |
| Financial income | 75/76B | €13,704 | €471 | -€13,233 | -96.6% |
| Recurring financial income | 75 | €13,704 | €471 | -€13,233 | -96.6% |
| Financial charges | 65/66B | €81,591 | €97,739 | +€16,147 | +19.8% |
| Recurring financial charges | 65 | €81,591 | €97,739 | +€16,147 | +19.8% |
| Profit (loss) for the period before taxes | 9903 | €131,347 | €305,484 | +€174,137 | +133% |
| Transfer from deferred taxes | 780 | €2,430 | €2,430 | = | 0.0% |
| Income taxes | 67/77 | €29,845 | €238 | -€29,607 | -99.2% |
| Profit (loss) for the period | 9904 | €103,933 | €307,676 | +€203,744 | +196% |
| Transfer from tax-exempt reserves | 789 | €4,720 | €4,720 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €108,652 | €312,396 | +€203,744 | +188% |
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 22 October 2026 via checked.be.