FOXINVEST: 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.
FOXINVEST
Largest movements
- Tangible fixed assets -€86,216
down €86,216 (-9.1%), from €942,904 to €856,689
of which Land and buildings: -€86,631
- Cash +€61,016
up €61,016 (+136%), from €44,910 to €105,925
mainly Depreciation (+€96,165) and Net result for the year (+€67,590)
- Debts after one year -€57,160
down €57,160 (-49.1%), from €116,308 to €59,148
- Profit (loss) carried forward +€54,259
up €54,259 (+13.9%), from €391,658 to €445,917
- Reserves -€11,670
down €11,670 (-5.8%), from €202,466 to €190,796
of which Tax-exempt reserves: -€11,670
- Investment grants -€11,261
down €11,261 (-9.5%), from €119,016 to €107,755
- Gross operating margin +€6,036
up €6,036 (+2.2%), from €277,664 to €283,699
- Staff costs +€3,900
up €3,900 (+5.7%), from €67,864 to €71,764
- Other operating charges -€3,245
down €3,245 (-8.2%), from €39,416 to €36,171
- Depreciation +€3,092
up €3,092 (+3.3%), from €93,072 to €96,165
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 | €990,292 | €969,114 | -€21,178 | -2.1% |
| Fixed assets | 21/28 | €942,904 | €856,689 | -€86,216 | -9.1% |
| Tangible fixed assets | 22/27 | €942,904 | €856,689 | -€86,216 | -9.1% |
| Land and buildings | 22 | €933,457 | €846,826 | -€86,631 | -9.3% |
| Furniture and vehicles | 24 | €9,447 | €9,863 | +€416 | +4.4% |
| Current assets | 29/58 | €47,387 | €112,425 | +€65,037 | +137% |
| Amounts receivable within one year | 40/41 | €1,663 | €5,314 | +€3,651 | +220% |
| Trade receivables | 40 | €1,663 | €5,289 | +€3,626 | +218% |
| Other amounts receivable | 41 | - | €25 | +€25 | |
| Cash at bank and in hand | 54/58 | €44,910 | €105,925 | +€61,016 | +136% |
| Deferred charges and accrued income | 490/1 | €815 | €1,186 | +€371 | +45.5% |
| Total equity and liabilities | 10/49 | €990,292 | €969,114 | -€21,178 | -2.1% |
| Equity | 10/15 | €728,200 | €759,529 | +€31,329 | +4.3% |
| Contributions | 10/11 | €15,060 | €15,060 | = | 0.0% |
| Reserves | 13 | €202,466 | €190,796 | -€11,670 | -5.8% |
| Non-distributable reserves | 130/1 | €1,506 | €1,506 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,506 | €1,506 | = | 0.0% |
| Tax-exempt reserves | 132 | €152,834 | €141,164 | -€11,670 | -7.6% |
| Distributable reserves | 133 | €48,126 | €48,126 | = | 0.0% |
| Profit (loss) carried forward | 14 | €391,658 | €445,917 | +€54,259 | +13.9% |
| Investment grants | 15 | €119,016 | €107,755 | -€11,261 | -9.5% |
| Provisions and deferred taxes | 16 | €27,229 | €23,339 | -€3,890 | -14.3% |
| Deferred taxes | 168 | €27,229 | €23,339 | -€3,890 | -14.3% |
| Amounts payable | 17/49 | €234,863 | €186,246 | -€48,617 | -20.7% |
| Amounts payable after more than one year | 17 | €116,308 | €59,148 | -€57,160 | -49.1% |
| Financial debts | 170/4 | €116,308 | €59,148 | -€57,160 | -49.1% |
| Amounts payable within one year | 42/48 | €104,970 | €113,513 | +€8,543 | +8.1% |
| Current portion of amounts payable after more than one year | 42 | €55,239 | €57,160 | +€1,921 | +3.5% |
| Trade debts | 44 | €776 | €2,265 | +€1,489 | +192% |
| Suppliers | 440/4 | €776 | €2,265 | +€1,489 | +192% |
| Taxes, remuneration and social security | 45 | €23,955 | €29,088 | +€5,133 | +21.4% |
| Taxes | 450/3 | €12,879 | €13,161 | +€282 | +2.2% |
| Remuneration and social security | 454/9 | €11,076 | €15,927 | +€4,851 | +43.8% |
| Other amounts payable | 47/48 | €25,000 | €25,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €13,585 | €13,585 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €67,864 | €71,764 | +€3,900 | +5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,072 | €96,165 | +€3,092 | +3.3% |
| Other operating charges | 640/8 | €39,416 | €36,171 | -€3,245 | -8.2% |
| Non-recurring operating charges | 66A | - | €40 | +€40 | |
| Gross operating margin | 9900 | €277,664 | €283,699 | +€6,036 | +2.2% |
| Operating profit (loss) | 9901 | €77,311 | €79,560 | +€2,248 | +2.9% |
| Financial income | 75/76B | €11,261 | €11,261 | +€0 | 0.0% |
| Recurring financial income | 75 | €11,261 | €11,261 | +€0 | 0.0% |
| Financial charges | 65/66B | €10,595 | €8,013 | -€2,582 | -24.4% |
| Recurring financial charges | 65 | €10,595 | €8,013 | -€2,582 | -24.4% |
| Profit (loss) for the period before taxes | 9903 | €77,978 | €82,807 | +€4,830 | +6.2% |
| Transfer from deferred taxes | 780 | €3,890 | €3,890 | = | 0.0% |
| Income taxes | 67/77 | €17,605 | €19,108 | +€1,502 | +8.5% |
| Profit (loss) for the period | 9904 | €64,262 | €67,590 | +€3,328 | +5.2% |
| Transfer from tax-exempt reserves | 789 | €11,670 | €11,670 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €75,931 | €79,259 | +€3,328 | +4.4% |
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 26 October 2026 via checked.be.