FUSEO: 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.
FUSEO
Largest movements
- Receivables within one year +€25,634
up €25,634 (+113.6%), from €22,566 to €48,201
of which Trade receivables: +€22,334
- Cash -€2,540
down €2,540 (-2.8%), from €90,600 to €88,060
mainly Contributions, distributions and other (-€109,627) and Receivables within one year (-€25,634)
- Tangible fixed assets +€2,038
up €2,038 (+3316.5%), from €61 to €2,100
- Other debts +€49,453
up €49,453 (+115.4%), from €42,840 to €92,293
- Profit (loss) carried forward -€33,924
no longer reported in 2025 (was €33,924)
- Tax, wage and social debts +€10,082
up €10,082 (+67.3%), from €14,984 to €25,067
- Gross operating margin -€11,385
down €11,385 (-10.6%), from €107,091 to €95,705
- Taxes -€3,128
down €3,128 (-14.1%), from €22,199 to €19,071
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 | €113,247 | €138,951 | +€25,704 | +22.7% |
| Fixed assets | 21/28 | €61 | €2,100 | +€2,038 | +3316.5% |
| Tangible fixed assets | 22/27 | €61 | €2,100 | +€2,038 | +3316.5% |
| Furniture and vehicles | 24 | €61 | €2,100 | +€2,038 | +3316.5% |
| Current assets | 29/58 | €113,186 | €136,851 | +€23,665 | +20.9% |
| Amounts receivable within one year | 40/41 | €22,566 | €48,201 | +€25,634 | +113.6% |
| Trade receivables | 40 | €20,566 | €42,901 | +€22,334 | +108.6% |
| Other amounts receivable | 41 | €2,000 | €5,300 | +€3,300 | +165.0% |
| Cash at bank and in hand | 54/58 | €90,600 | €88,060 | -€2,540 | -2.8% |
| Deferred charges and accrued income | 490/1 | €19 | €591 | +€572 | +2953.5% |
| Total equity and liabilities | 10/49 | €113,247 | €138,951 | +€25,704 | +22.7% |
| Equity | 10/15 | €54,384 | €20,460 | -€33,924 | -62.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €33,924 | - | -€33,924 | |
| Amounts payable | 17/49 | €58,864 | €118,491 | +€59,627 | +101.3% |
| Amounts payable within one year | 42/48 | €58,864 | €118,491 | +€59,627 | +101.3% |
| Trade debts | 44 | €1,039 | €1,131 | +€92 | +8.8% |
| Suppliers | 440/4 | €1,039 | €1,131 | +€92 | +8.8% |
| Taxes, remuneration and social security | 45 | €14,984 | €25,067 | +€10,082 | +67.3% |
| Taxes | 450/3 | €14,984 | €25,067 | +€10,082 | +67.3% |
| Other amounts payable | 47/48 | €42,840 | €92,293 | +€49,453 | +115.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €369 | €310 | -€58 | -15.8% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €107,091 | €95,705 | -€11,385 | -10.6% |
| Operating profit (loss) | 9901 | €106,217 | €94,875 | -€11,341 | -10.7% |
| Financial income | 75/76B | €0 | €3 | +€3 | +10133.3% |
| Recurring financial income | 75 | €0 | €3 | +€3 | +10133.3% |
| Financial charges | 65/66B | €94 | €105 | +€10 | +10.8% |
| Recurring financial charges | 65 | €94 | €105 | +€10 | +10.8% |
| Profit (loss) for the period before taxes | 9903 | €106,122 | €94,774 | -€11,349 | -10.7% |
| Income taxes | 67/77 | €22,199 | €19,071 | -€3,128 | -14.1% |
| Profit (loss) for the period | 9904 | €83,924 | €75,703 | -€8,220 | -9.8% |
| Profit (loss) for the period to be appropriated | 9905 | €83,924 | €75,703 | -€8,220 | -9.8% |
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 6 October 2026 via checked.be.