FSI: 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
FSI
NACE 46.851, Wholesale of industrial chemicals
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€307,715
2024 · -€149,674-€158,041
Equity
€1.6m
2024 · €1.9m-€307,714
Cash
€84,552
2024 · €83,281+€1,271
Balance sheet total
€9.1m
2024 · €10.5m-€1.3m
Largest movements
Assets
- Stocks and contracts -€1.1m
down €1.1m (-16.6%), from €6.4m to €5.4m
- Receivables within one year -€130,054
down €130,054 (-6.8%), from €1.9m to €1.8m
of which Trade receivables: -€169,759
- Tangible fixed assets -€123,661
down €123,661 (-6.2%), from €2.0m to €1.9m
of which Land and buildings: -€67,513
Equity and liabilities
- Short-term financial debts -€682,322
down €682,322 (-14.2%), from €4.8m to €4.1m
- Debts after one year -€607,034
down €607,034 (-24.6%), from €2.5m to €1.9m
- Current portion of long-term debt +€389,595
up €389,595 (+177.5%), from €219,539 to €609,134
- Reserves -€204,788
down €204,788 (-16.8%), from €1.2m to €1.0m
of which Tax-exempt reserves: -€204,788
Income statement
- Turnover -€10.3m
no longer reported in 2025 (was €10.3m)
- Goods and materials -€8.4m
no longer reported in 2025 (was €8.4m)
of which Purchases: -€9.3m
- Services and other goods -€1.4m
no longer reported in 2025 (was €1.4m)
- Gross operating margin +€281,782
new in 2025: €281,782
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
-€149,674
Turnover
-€10.3m
Other operating income
-€19,696
Goods and materials
+€8.4m
Services and other goods
+€1.4m
Staff costs
+€39,895
Depreciation
-€3,598
Write-downs
-€1,440
Other operating charges
+€1,492
Other operating items
+€272,338
Financial income
-€4,650
Financial charges
-€45,481
Taxes
-€29,056
Deferred taxes and other
+€63,876
Result 2025
-€307,715
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.
From operations
+€903,648
Investment
-€2,616
Financing
-€899,761
Cash 2024
€83,281
From operations (derived)
+€903,648
Net result for the year
-€307,715
Depreciation
+€126,277
Stocks and contracts
+€1.1m
Receivables within one year
+€130,054
Deferred charges and accrued income
-€5,799
Provisions
-€68,263
Trade debts
+€14,069
Tax, wage and social debts
-€9,404
Accrued charges and deferred income
-€47,812
Investment (derived)
-€2,616
Investment in fixed assets (net)
-€2,616
Financing
-€899,761
Debts after one year
-€607,034
Current portion of long-term debt
+€389,595
Short-term financial debts
-€682,322
Contributions, distributions and other
+€1
Cash 2025
€84,552
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,451,380 | €9,132,494 | -€1.3m | -12.6% |
| Fixed assets | 21/28 | €2,007,603 | €1,883,942 | -€123,661 | -6.2% |
| Tangible fixed assets | 22/27 | €2,006,403 | €1,882,742 | -€123,661 | -6.2% |
| Land and buildings | 22 | €1,744,344 | €1,676,831 | -€67,513 | -3.9% |
| Plant, machinery and equipment | 23 | €110,791 | €98,049 | -€12,742 | -11.5% |
| Furniture and vehicles | 24 | €69,180 | €38,214 | -€30,966 | -44.8% |
| Leasing and similar rights | 25 | €48,053 | €34,613 | -€13,440 | -28.0% |
| Assets under construction and advance payments | 27 | €34,035 | €35,035 | +€1,000 | +2.9% |
| Financial fixed assets | 28 | €1,200 | €1,200 | = | 0.0% |
| Other financial fixed assets | 284/8 | €1,200 | - | -€1,200 | |
| Amounts receivable and cash guarantees | 285/8 | €1,200 | - | -€1,200 | |
| Current assets | 29/58 | €8,443,777 | €7,248,552 | -€1.2m | -14.2% |
| Stocks and contracts in progress | 3 | €6,447,845 | €5,375,604 | -€1.1m | -16.6% |
| Stocks | 30/36 | €6,447,845 | €5,375,604 | -€1.1m | -16.6% |
| Goods purchased for resale | 34 | €1,334,463 | - | -€1.3m | |
| Property held for sale | 35 | €5,113,382 | - | -€5.1m | |
| Amounts receivable within one year | 40/41 | €1,907,399 | €1,777,345 | -€130,054 | -6.8% |
| Trade receivables | 40 | €1,204,026 | €1,034,267 | -€169,759 | -14.1% |
| Other amounts receivable | 41 | €703,373 | €743,078 | +€39,705 | +5.6% |
| Cash at bank and in hand | 54/58 | €83,281 | €84,552 | +€1,271 | +1.5% |
| Deferred charges and accrued income | 490/1 | €5,252 | €11,051 | +€5,799 | +110.4% |
| Total equity and liabilities | 10/49 | €10,451,380 | €9,132,494 | -€1.3m | -12.6% |
| Equity | 10/15 | €1,899,117 | €1,591,403 | -€307,714 | -16.2% |
| Contributions | 10/11 | €18,642 | €18,642 | +€0 | 0.0% |
| Reserves | 13 | €1,216,969 | €1,012,181 | -€204,788 | -16.8% |
| Non-distributable reserves | 130/1 | €1,864 | €1,864 | -€0 | 0.0% |
| Reserves not available under the articles | 1311 | €1,864 | €1,864 | -€0 | 0.0% |
| Tax-exempt reserves | 132 | €204,788 | - | -€204,788 | |
| Distributable reserves | 133 | €1,010,317 | €1,010,317 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | €663,507 | €560,580 | -€102,927 | -15.5% |
| Provisions and deferred taxes | 16 | €68,263 | - | -€68,263 | |
| Deferred taxes | 168 | €68,263 | - | -€68,263 | |
| Amounts payable | 17/49 | €8,484,000 | €7,541,091 | -€942,909 | -11.1% |
| Amounts payable after more than one year | 17 | €2,462,997 | €1,855,963 | -€607,034 | -24.6% |
| Financial debts | 170/4 | €2,462,997 | €1,855,963 | -€607,034 | -24.6% |
| Leasing and similar obligations | 172 | €11,647 | - | -€11,647 | |
| Credit institutions | 173 | €2,051,350 | - | -€2.1m | |
| Other loans | 174 | €400,000 | - | -€400,000 | |
| Amounts payable within one year | 42/48 | €5,931,233 | €5,643,170 | -€288,063 | -4.9% |
| Current portion of amounts payable after more than one year | 42 | €219,539 | €609,134 | +€389,595 | +177.5% |
| Financial debts | 43 | €4,792,998 | €4,110,676 | -€682,322 | -14.2% |
| Credit institutions | 430/8 | €4,792,998 | €4,110,676 | -€682,322 | -14.2% |
| Trade debts | 44 | €899,558 | €913,627 | +€14,069 | +1.6% |
| Suppliers | 440/4 | €899,558 | €913,627 | +€14,069 | +1.6% |
| Taxes, remuneration and social security | 45 | €19,137 | €9,733 | -€9,404 | -49.1% |
| Taxes | 450/3 | €4,992 | €2,176 | -€2,816 | -56.4% |
| Remuneration and social security | 454/9 | €14,145 | €7,557 | -€6,588 | -46.6% |
| Accrued charges and deferred income | 492/3 | €89,770 | €41,958 | -€47,812 | -53.3% |
| Operating income | 70/76A | €10,292,736 | - | -€10.3m | |
| Turnover | 70 | €10,265,774 | - | -€10.3m | |
| Other operating income | 74 | €19,696 | - | -€19,696 | |
| Non-recurring operating income | 76A | €7,266 | €69,534 | +€62,268 | +857.0% |
| Operating charges | 60/66A | €10,103,889 | - | -€10.1m | |
| Goods for resale, raw materials and consumables | 60 | €8,411,134 | - | -€8.4m | |
| Purchases | 600/8 | €9,269,068 | - | -€9.3m | |
| Change in stocks: decrease (increase) | 609 | -€857,934 | - | +€857,934 | |
| Services and other goods | 61 | €1,422,919 | - | -€1.4m | |
| Remuneration, social security and pensions | 62 | €127,100 | €87,205 | -€39,895 | -31.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €122,679 | €126,277 | +€3,598 | +2.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,440 | +€1,440 | |
| Other operating charges | 640/8 | €20,028 | €18,536 | -€1,492 | -7.4% |
| Non-recurring operating charges | 66A | €29 | €2,207 | +€2,178 | +7450.5% |
| Gross operating margin | 9900 | - | €281,782 | +€281,782 | |
| Operating profit (loss) | 9901 | €188,847 | €46,117 | -€142,730 | -75.6% |
| Financial income | 75/76B | €38,132 | €33,482 | -€4,650 | -12.2% |
| Recurring financial income | 75 | €38,132 | €33,482 | -€4,650 | -12.2% |
| Income from current assets | 751 | €35,709 | - | -€35,709 | |
| Other financial income | 752/9 | €2,423 | - | -€2,423 | |
| Financial charges | 65/66B | €380,721 | €426,202 | +€45,481 | +11.9% |
| Recurring financial charges | 65 | €380,721 | €426,202 | +€45,481 | +11.9% |
| Debt charges | 650 | €351,738 | - | -€351,738 | |
| Other financial charges | 652/9 | €28,983 | - | -€28,983 | |
| Profit (loss) for the period before taxes | 9903 | -€153,742 | -€346,603 | -€192,861 | -125.4% |
| Transfer from deferred taxes | 780 | €4,386 | €68,262 | +€63,876 | +1456.5% |
| Income taxes | 67/77 | €318 | €29,374 | +€29,056 | +9140.6% |
| Taxes | 670/3 | €318 | - | -€318 | |
| Profit (loss) for the period | 9904 | -€149,674 | -€307,715 | -€158,041 | -105.6% |
| Transfer from tax-exempt reserves | 789 | €13,157 | €204,788 | +€191,631 | +1456.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€136,517 | -€102,927 | +€33,590 | +24.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.