Fundido: 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.
Fundido
Largest movements
- Cash -€60,539
down €60,539 (-53.0%), from €114,278 to €53,739
mainly Contributions, distributions and other (-€110,000) and Debts after one year (-€34,019)
- Tangible fixed assets -€48,120
down €48,120 (-17.5%), from €274,297 to €226,176
- Receivables within one year -€10,650
down €10,650 (-47.8%), from €22,301 to €11,651
of which Other amounts receivable: -€6,343
- Current investments +€10,000
up €10,000 (+14.3%), from €70,000 to €79,999
- Reserves -€147,390
down €147,390 (-58.0%), from €254,257 to €106,866
of which Distributable reserves: -€147,390
- Other debts +€90,879
up €90,879 (+1,253%), from €7,251 to €98,131
- Debts after one year -€34,019
down €34,019 (-25.0%), from €136,219 to €102,199
- Accrued charges and deferred income -€10,926
down €10,926 (-56.7%), from €19,274 to €8,347
- Tax, wage and social debts -€5,290
down €5,290 (-64.7%), from €8,171 to €2,882
of which Taxes: -€5,140
- Gross operating margin -€34,480
down €34,480 (-61.1%), from €56,452 to €21,972
- Financial income +€5,347
up €5,347 (+1,900%), from €281 to €5,629
- Staff costs -€5,168
down €5,168 (-86.3%), from €5,989 to €821
- Depreciation +€1,454
up €1,454 (+3.0%), from €47,796 to €49,250
- Financial charges -€846
down €846 (-16.2%), from €5,215 to €4,369
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 | €482,263 | €372,381 | -€109,882 | -22.8% |
| Fixed assets | 21/28 | €274,645 | €226,524 | -€48,120 | -17.5% |
| Tangible fixed assets | 22/27 | €274,297 | €226,176 | -€48,120 | -17.5% |
| Land and buildings | 22 | €142,992 | €135,708 | -€7,284 | -5.1% |
| Plant, machinery and equipment | 23 | €27,775 | €15,120 | -€12,656 | -45.6% |
| Furniture and vehicles | 24 | €88,188 | €65,470 | -€22,719 | -25.8% |
| Other tangible fixed assets | 26 | €15,342 | €9,880 | -€5,462 | -35.6% |
| Financial fixed assets | 28 | €348 | €348 | = | 0.0% |
| Current assets | 29/58 | €207,619 | €145,857 | -€61,762 | -29.7% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €22,301 | €11,651 | -€10,650 | -47.8% |
| Trade receivables | 40 | €14,240 | €9,933 | -€4,307 | -30.2% |
| Other amounts receivable | 41 | €8,062 | €1,719 | -€6,343 | -78.7% |
| Current investments | 50/53 | €70,000 | €79,999 | +€10,000 | +14.3% |
| Cash at bank and in hand | 54/58 | €114,278 | €53,739 | -€60,539 | -53.0% |
| Deferred charges and accrued income | 490/1 | €1,040 | €468 | -€573 | -55.1% |
| Total equity and liabilities | 10/49 | €482,263 | €372,381 | -€109,882 | -22.8% |
| Equity | 10/15 | €268,739 | €125,466 | -€143,273 | -53.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €254,257 | €106,866 | -€147,390 | -58.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €252,397 | €105,006 | -€147,390 | -58.4% |
| Profit (loss) carried forward | 14 | -€4,117 | €0 | +€4,117 | |
| Amounts payable | 17/49 | €213,524 | €246,915 | +€33,391 | +15.6% |
| Amounts payable after more than one year | 17 | €136,219 | €102,199 | -€34,019 | -25.0% |
| Financial debts | 170/4 | €136,219 | €102,199 | -€34,019 | -25.0% |
| Amounts payable within one year | 42/48 | €58,032 | €136,368 | +€78,336 | +135% |
| Current portion of amounts payable after more than one year | 42 | €33,266 | €34,019 | +€753 | +2.3% |
| Financial debts | 43 | €5,000 | €0 | -€5,000 | -100% |
| Credit institutions | 430/8 | €5,000 | €0 | -€5,000 | -100% |
| Trade debts | 44 | €3,593 | €227 | -€3,366 | -93.7% |
| Suppliers | 440/4 | €3,593 | €227 | -€3,366 | -93.7% |
| Advances received on contracts in progress | 46 | €750 | €1,110 | +€360 | +48.0% |
| Taxes, remuneration and social security | 45 | €8,171 | €2,882 | -€5,290 | -64.7% |
| Taxes | 450/3 | €7,972 | €2,832 | -€5,140 | -64.5% |
| Remuneration and social security | 454/9 | €200 | €50 | -€150 | -75.0% |
| Other amounts payable | 47/48 | €7,251 | €98,131 | +€90,879 | +1,253% |
| Accrued charges and deferred income | 492/3 | €19,274 | €8,347 | -€10,926 | -56.7% |
| Remuneration, social security and pensions | 62 | €5,989 | €821 | -€5,168 | -86.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,796 | €49,250 | +€1,454 | +3.0% |
| Other operating charges | 640/8 | €2,733 | €2,411 | -€321 | -11.8% |
| Non-recurring operating charges | 66A | - | €3,978 | +€3,978 | |
| Gross operating margin | 9900 | €56,452 | €21,972 | -€34,480 | -61.1% |
| Operating profit (loss) | 9901 | -€66 | -€34,489 | -€34,423 | -52,506% |
| Financial income | 75/76B | €281 | €5,629 | +€5,347 | +1,900% |
| Recurring financial income | 75 | €281 | €5,629 | +€5,347 | +1,900% |
| Financial charges | 65/66B | €5,215 | €4,369 | -€846 | -16.2% |
| Recurring financial charges | 65 | €5,215 | €4,369 | -€846 | -16.2% |
| Profit (loss) for the period before taxes | 9903 | -€4,999 | -€33,229 | -€28,230 | -565% |
| Income taxes | 67/77 | €38 | €44 | +€6 | +15.0% |
| Profit (loss) for the period | 9904 | -€5,037 | -€33,273 | -€28,236 | -561% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,037 | -€33,273 | -€28,236 | -561% |
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 13 October 2026 via checked.be.