Fusion Inc: 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.
Fusion Inc
Largest movements
- Financial fixed assets +€2.0m
new in 2025: €2.0m
- Current investments +€291,173
up €291,173 (+110.5%), from €263,490 to €554,664
- Tangible fixed assets -€101,114
down €101,114 (-6.5%), from €1.6m to €1.5m
of which Land and buildings: -€76,153
- Cash -€56,313
down €56,313 (-94.6%), from €59,511 to €3,198
mainly Investment in fixed assets (net) (-€2.0m) and Current investments (-€291,173)
- Reserves +€1.7m
up €1.7m (+209.8%), from €788,155 to €2.4m
of which Distributable reserves: +€1.5m
- Tax, wage and social debts +€601,195
up €601,195 (+543.8%), from €110,549 to €711,744
- Debts after one year -€105,613
down €105,613 (-14.3%), from €739,259 to €633,646
- Gross operating margin +€1.1m
up €1.1m (+160.7%), from €665,394 to €1.7m
- Financial income +€653,565
up €653,565 (+10239.8%), from €6,383 to €659,948
of which Non-recurring financial income: +€651,610
- Taxes +€472,162
up €472,162 (+406.9%), from €116,051 to €588,213
- Other operating charges -€78,162
down €78,162 (-89.5%), from €87,295 to €9,133
- Depreciation +€22,961
up €22,961 (+25.4%), from €90,371 to €113,332
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 | €1,899,757 | €4,053,437 | +€2.2m | +113.4% |
| Fixed assets | 21/28 | €1,555,288 | €3,481,419 | +€1.9m | +123.8% |
| Tangible fixed assets | 22/27 | €1,555,288 | €1,454,174 | -€101,114 | -6.5% |
| Land and buildings | 22 | €1,454,469 | €1,378,316 | -€76,153 | -5.2% |
| Plant, machinery and equipment | 23 | €4,372 | €2,077 | -€2,295 | -52.5% |
| Furniture and vehicles | 24 | €58,965 | €35,989 | -€22,975 | -39.0% |
| Other tangible fixed assets | 26 | €37,483 | €37,792 | +€309 | +0.8% |
| Financial fixed assets | 28 | - | €2,027,245 | +€2.0m | |
| Current assets | 29/58 | €344,469 | €572,018 | +€227,549 | +66.1% |
| Amounts receivable within one year | 40/41 | €20,497 | €13,111 | -€7,386 | -36.0% |
| Trade receivables | 40 | €11,860 | €11,243 | -€618 | -5.2% |
| Other amounts receivable | 41 | €8,637 | €1,868 | -€6,769 | -78.4% |
| Current investments | 50/53 | €263,490 | €554,664 | +€291,173 | +110.5% |
| Cash at bank and in hand | 54/58 | €59,511 | €3,198 | -€56,313 | -94.6% |
| Deferred charges and accrued income | 490/1 | €971 | €1,046 | +€75 | +7.7% |
| Total equity and liabilities | 10/49 | €1,899,757 | €4,053,437 | +€2.2m | +113.4% |
| Equity | 10/15 | €928,155 | €2,581,425 | +€1.7m | +178.1% |
| Contributions | 10/11 | €140,000 | €140,000 | = | 0.0% |
| Reserves | 13 | €788,155 | €2,441,425 | +€1.7m | +209.8% |
| Non-distributable reserves | 130/1 | €6,012 | €6,012 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,012 | €6,012 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €126,300 | +€126,300 | |
| Distributable reserves | 133 | €782,143 | €2,309,113 | +€1.5m | +195.2% |
| Amounts payable | 17/49 | €971,602 | €1,472,012 | +€500,410 | +51.5% |
| Amounts payable after more than one year | 17 | €739,259 | €633,646 | -€105,613 | -14.3% |
| Financial debts | 170/4 | €739,259 | €633,646 | -€105,613 | -14.3% |
| Amounts payable within one year | 42/48 | €219,105 | €818,366 | +€599,261 | +273.5% |
| Current portion of amounts payable after more than one year | 42 | €102,718 | €105,613 | +€2,895 | +2.8% |
| Trade debts | 44 | €851 | €1,009 | +€158 | +18.6% |
| Suppliers | 440/4 | €851 | €1,009 | +€158 | +18.6% |
| Taxes, remuneration and social security | 45 | €110,549 | €711,744 | +€601,195 | +543.8% |
| Taxes | 450/3 | €110,549 | €711,744 | +€601,195 | +543.8% |
| Other amounts payable | 47/48 | €4,987 | - | -€4,987 | |
| Accrued charges and deferred income | 492/3 | €13,238 | €20,000 | +€6,762 | +51.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €90,371 | €113,332 | +€22,961 | +25.4% |
| Other operating charges | 640/8 | €87,295 | €9,133 | -€78,162 | -89.5% |
| Gross operating margin | 9900 | €665,394 | €1,734,996 | +€1.1m | +160.7% |
| Operating profit (loss) | 9901 | €487,727 | €1,612,530 | +€1.1m | +230.6% |
| Financial income | 75/76B | €6,383 | €659,948 | +€653,565 | +10239.8% |
| Recurring financial income | 75 | €2,413 | €4,368 | +€1,955 | +81.0% |
| Non-recurring financial income | 76B | €3,970 | €655,580 | +€651,610 | +16413.4% |
| Financial charges | 65/66B | €29,008 | €30,995 | +€1,987 | +6.8% |
| Recurring financial charges | 65 | €27,233 | €30,995 | +€3,762 | +13.8% |
| Non-recurring financial charges | 66B | €1,775 | - | -€1,775 | |
| Profit (loss) for the period before taxes | 9903 | €465,102 | €2,241,483 | +€1.8m | +381.9% |
| Income taxes | 67/77 | €116,051 | €588,213 | +€472,162 | +406.9% |
| Profit (loss) for the period | 9904 | €349,051 | €1,653,270 | +€1.3m | +373.6% |
| Transfer to tax-exempt reserves | 689 | - | €126,300 | +€126,300 | |
| Profit (loss) for the period to be appropriated | 9905 | €349,051 | €1,526,970 | +€1.2m | +337.5% |
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 8 October 2026 via checked.be.