FUSOR: 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.
FUSOR
Largest movements
- Receivables within one year +€31,399
up €31,399 (+54.6%), from €57,461 to €88,860
of which Other amounts receivable: +€39,222
- Cash +€27,473
up €27,473 (+83.5%), from €32,883 to €60,356
mainly Net result for the year (+€80,537) and Tax, wage and social debts (+€17,518)
- Deferred charges and accrued income +€16,200
new in 2025: €16,200
- Intangible fixed assets -€3,267
down €3,267 (-11.8%), from €27,748 to €24,481
- Profit (loss) carried forward +€42,355
up €42,355 (+97.6%), from €43,391 to €85,747
- Reserves +€18,182
new in 2025: €18,182
- Tax, wage and social debts +€17,518
up €17,518 (+41.5%), from €42,225 to €59,742
of which Taxes: +€28,095
- Trade debts -€12,557
down €12,557 (-74.4%), from €16,870 to €4,312
- Other debts +€7,000
up €7,000 (+48.3%), from €14,500 to €21,500
- Gross operating margin +€93,273
up €93,273 (+65.7%), from €142,063 to €235,336
- Taxes +€17,709
up €17,709 (+471%), from €3,760 to €21,469
- Staff costs +€8,585
up €8,585 (+7.7%), from €111,392 to €119,977
- Other operating charges +€2,989
up €2,989 (+269%), from €1,113 to €4,101
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 | €126,188 | €197,673 | +€71,485 | +56.6% |
| Fixed assets | 21/28 | €35,844 | €32,257 | -€3,586 | -10.0% |
| Intangible fixed assets | 21 | €27,748 | €24,481 | -€3,267 | -11.8% |
| Tangible fixed assets | 22/27 | €7,981 | €7,662 | -€319 | -4.0% |
| Furniture and vehicles | 24 | €7,981 | €7,662 | -€319 | -4.0% |
| Financial fixed assets | 28 | €115 | €115 | = | 0.0% |
| Current assets | 29/58 | €90,344 | €165,416 | +€75,071 | +83.1% |
| Amounts receivable within one year | 40/41 | €57,461 | €88,860 | +€31,399 | +54.6% |
| Trade receivables | 40 | €30,006 | €22,183 | -€7,823 | -26.1% |
| Other amounts receivable | 41 | €27,455 | €66,677 | +€39,222 | +143% |
| Cash at bank and in hand | 54/58 | €32,883 | €60,356 | +€27,473 | +83.5% |
| Deferred charges and accrued income | 490/1 | - | €16,200 | +€16,200 | |
| Total equity and liabilities | 10/49 | €126,188 | €197,673 | +€71,485 | +56.6% |
| Equity | 10/15 | €49,591 | €110,129 | +€60,537 | +122% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | - | €18,182 | +€18,182 | |
| Distributable reserves | 133 | - | €18,182 | +€18,182 | |
| Profit (loss) carried forward | 14 | €43,391 | €85,747 | +€42,355 | +97.6% |
| Amounts payable | 17/49 | €76,597 | €87,545 | +€10,948 | +14.3% |
| Amounts payable after more than one year | 17 | €1,990 | €937 | -€1,053 | -52.9% |
| Financial debts | 170/4 | €1,990 | €937 | -€1,053 | -52.9% |
| Amounts payable within one year | 42/48 | €74,607 | €86,608 | +€12,001 | +16.1% |
| Current portion of amounts payable after more than one year | 42 | €1,013 | €1,053 | +€41 | +4.0% |
| Trade debts | 44 | €16,870 | €4,312 | -€12,557 | -74.4% |
| Suppliers | 440/4 | €16,870 | €4,312 | -€12,557 | -74.4% |
| Taxes, remuneration and social security | 45 | €42,225 | €59,742 | +€17,518 | +41.5% |
| Taxes | 450/3 | €13,581 | €41,675 | +€28,095 | +207% |
| Remuneration and social security | 454/9 | €28,644 | €18,067 | -€10,577 | -36.9% |
| Other amounts payable | 47/48 | €14,500 | €21,500 | +€7,000 | +48.3% |
| Non-recurring operating income | 76A | €2,100 | €1,401 | -€698 | -33.3% |
| Remuneration, social security and pensions | 62 | €111,392 | €119,977 | +€8,585 | +7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,279 | €8,097 | -€182 | -2.2% |
| Other operating charges | 640/8 | €1,113 | €4,101 | +€2,989 | +269% |
| Gross operating margin | 9900 | €142,063 | €235,336 | +€93,273 | +65.7% |
| Operating profit (loss) | 9901 | €21,279 | €103,161 | +€81,881 | +385% |
| Financial income | 75/76B | €4 | €11 | +€7 | +187% |
| Recurring financial income | 75 | €4 | €11 | +€7 | +187% |
| Financial charges | 65/66B | €1,495 | €1,165 | -€330 | -22.1% |
| Recurring financial charges | 65 | €1,495 | €1,165 | -€330 | -22.1% |
| Profit (loss) for the period before taxes | 9903 | €19,788 | €102,006 | +€82,218 | +416% |
| Income taxes | 67/77 | €3,760 | €21,469 | +€17,709 | +471% |
| Profit (loss) for the period | 9904 | €16,028 | €80,537 | +€64,509 | +402% |
| Profit (loss) for the period to be appropriated | 9905 | €16,028 | €80,537 | +€64,509 | +402% |
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 20 October 2026 via checked.be.