FusionDirectory: 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.
FusionDirectory
Largest movements
- Cash +€35,753
up €35,753 (+2,419%), from €1,478 to €37,231
mainly Depreciation (+€45,703) and Net result for the year (+€27,072)
- Intangible fixed assets -€16,872
down €16,872 (-34.7%), from €48,671 to €31,799
- Tangible fixed assets -€1,807
down €1,807 (-41.7%), from €4,338 to €2,531
- Receivables within one year +€1,764
up €1,764 (+2.3%), from €75,270 to €77,034
of which Other amounts receivable: +€12,799
- Profit (loss) carried forward +€21,797
up €21,797, from -€21,797 to €0
- Other debts +€20,770
new in 2025: €20,770
- Reserves -€16,939
down €16,939 (-24.8%), from €68,250 to €51,311
of which Distributable reserves: -€16,939
- Short-term financial debts +€9,881
up €9,881 (+41,396%), from €24 to €9,905
- Trade debts -€7,711
down €7,711 (-51.0%), from €15,110 to €7,399
- Gross operating margin +€91,402
up €91,402 (+193%), from €47,387 to €138,788
- Depreciation +€34,694
up €34,694 (+315%), from €11,009 to €45,703
- Taxes +€3,737
up €3,737 (+981%), from €381 to €4,119
- Staff costs +€2,056
up €2,056 (+3.7%), from €55,127 to €57,184
- Financial charges +€1,803
up €1,803 (+78.9%), from €2,285 to €4,088
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 | €131,483 | €149,014 | +€17,531 | +13.3% |
| Fixed assets | 21/28 | €53,294 | €34,614 | -€18,680 | -35.1% |
| Intangible fixed assets | 21 | €48,671 | €31,799 | -€16,872 | -34.7% |
| Tangible fixed assets | 22/27 | €4,338 | €2,531 | -€1,807 | -41.7% |
| Furniture and vehicles | 24 | €4,338 | €2,531 | -€1,807 | -41.7% |
| Financial fixed assets | 28 | €285 | €285 | = | 0.0% |
| Current assets | 29/58 | €78,189 | €114,400 | +€36,210 | +46.3% |
| Amounts receivable within one year | 40/41 | €75,270 | €77,034 | +€1,764 | +2.3% |
| Trade receivables | 40 | €30,884 | €19,849 | -€11,035 | -35.7% |
| Other amounts receivable | 41 | €44,386 | €57,185 | +€12,799 | +28.8% |
| Cash at bank and in hand | 54/58 | €1,478 | €37,231 | +€35,753 | +2,419% |
| Deferred charges and accrued income | 490/1 | €1,441 | €135 | -€1,306 | -90.7% |
| Total equity and liabilities | 10/49 | €131,483 | €149,014 | +€17,531 | +13.3% |
| Equity | 10/15 | €65,119 | €69,978 | +€4,858 | +7.5% |
| Contributions | 10/11 | €18,666 | €18,666 | = | 0.0% |
| Reserves | 13 | €68,250 | €51,311 | -€16,939 | -24.8% |
| Non-distributable reserves | 130/1 | €1,867 | €1,867 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,867 | €1,867 | = | 0.0% |
| Distributable reserves | 133 | €66,383 | €49,444 | -€16,939 | -25.5% |
| Profit (loss) carried forward | 14 | -€21,797 | €0 | +€21,797 | |
| Amounts payable | 17/49 | €66,364 | €79,036 | +€12,672 | +19.1% |
| Amounts payable within one year | 42/48 | €64,620 | €79,036 | +€14,417 | +22.3% |
| Current portion of amounts payable after more than one year | 42 | €2,528 | €0 | -€2,528 | -100% |
| Financial debts | 43 | €24 | €9,905 | +€9,881 | +41,396% |
| Credit institutions | 430/8 | €24 | €9,905 | +€9,881 | +41,396% |
| Trade debts | 44 | €15,110 | €7,399 | -€7,711 | -51.0% |
| Suppliers | 440/4 | €15,110 | €7,399 | -€7,711 | -51.0% |
| Taxes, remuneration and social security | 45 | €46,958 | €40,962 | -€5,996 | -12.8% |
| Taxes | 450/3 | €31,033 | €32,477 | +€1,444 | +4.7% |
| Remuneration and social security | 454/9 | €15,924 | €8,485 | -€7,440 | -46.7% |
| Other amounts payable | 47/48 | - | €20,770 | +€20,770 | |
| Accrued charges and deferred income | 492/3 | €1,744 | €0 | -€1,744 | -100% |
| Non-recurring operating income | 76A | - | €3,693 | +€3,693 | |
| Remuneration, social security and pensions | 62 | €55,127 | €57,184 | +€2,056 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,009 | €45,703 | +€34,694 | +315% |
| Other operating charges | 640/8 | €687 | €1,175 | +€487 | +70.9% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €47,387 | €138,788 | +€91,402 | +193% |
| Operating profit (loss) | 9901 | -€19,437 | €34,727 | +€54,164 | |
| Financial income | 75/76B | €307 | €552 | +€245 | +80.0% |
| Recurring financial income | 75 | €307 | €552 | +€245 | +80.0% |
| Financial charges | 65/66B | €2,285 | €4,088 | +€1,803 | +78.9% |
| Recurring financial charges | 65 | €2,285 | €4,088 | +€1,803 | +78.9% |
| Profit (loss) for the period before taxes | 9903 | -€21,416 | €31,190 | +€52,606 | |
| Income taxes | 67/77 | €381 | €4,119 | +€3,737 | +981% |
| Profit (loss) for the period | 9904 | -€21,797 | €27,072 | +€48,869 | |
| Profit (loss) for the period to be appropriated | 9905 | -€21,797 | €27,072 | +€48,869 |
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 16 October 2026 via checked.be.