FUSS: 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.
FUSS
Largest movements
- Cash -€81,025
down €81,025 (-25.4%), from €318,754 to €237,729
mainly Net result for the year (-€51,448) and Investment in fixed assets (net) (-€28,358)
- Stocks and contracts +€16,188
up €16,188 (+40.1%), from €40,396 to €56,584
of which Contracts in progress: +€15,105
- Receivables within one year -€9,650
down €9,650 (-13.2%), from €73,316 to €63,666
of which Trade receivables: -€9,833
- Profit (loss) carried forward -€51,448
down €51,448 (-16.5%), from €312,137 to €260,689
- Tax, wage and social debts -€16,712
down €16,712 (-45.0%), from €37,120 to €20,408
of which Taxes: -€12,173
- Other debts -€12,671
no longer reported in 2025 (was €12,671)
- Gross operating margin -€177,327
down €177,327 (-49.8%), from €356,293 to €178,965
- Staff costs -€133,991
down €133,991 (-41.1%), from €325,746 to €191,755
- Depreciation +€3,795
up €3,795 (+14.6%), from €25,925 to €29,720
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 | €504,195 | €424,621 | -€79,574 | -15.8% |
| Fixed assets | 21/28 | €51,728 | €50,366 | -€1,362 | -2.6% |
| Tangible fixed assets | 22/27 | €51,666 | €50,304 | -€1,362 | -2.6% |
| Plant, machinery and equipment | 23 | €1,350 | €2,736 | +€1,386 | +102.7% |
| Furniture and vehicles | 24 | €50,317 | €47,568 | -€2,748 | -5.5% |
| Financial fixed assets | 28 | €62 | €62 | = | 0.0% |
| Current assets | 29/58 | €452,467 | €374,255 | -€78,212 | -17.3% |
| Stocks and contracts in progress | 3 | €40,396 | €56,584 | +€16,188 | +40.1% |
| Stocks | 30/36 | €40,396 | €41,479 | +€1,083 | +2.7% |
| Contracts in progress | 37 | - | €15,105 | +€15,105 | |
| Amounts receivable within one year | 40/41 | €73,316 | €63,666 | -€9,650 | -13.2% |
| Trade receivables | 40 | €73,316 | €63,482 | -€9,833 | -13.4% |
| Other amounts receivable | 41 | - | €183 | +€183 | |
| Cash at bank and in hand | 54/58 | €318,754 | €237,729 | -€81,025 | -25.4% |
| Deferred charges and accrued income | 490/1 | €20,001 | €16,277 | -€3,725 | -18.6% |
| Total equity and liabilities | 10/49 | €504,195 | €424,621 | -€79,574 | -15.8% |
| Equity | 10/15 | €444,075 | €392,627 | -€51,448 | -11.6% |
| Contributions | 10/11 | €27,500 | €27,500 | = | 0.0% |
| Reserves | 13 | €104,438 | €104,438 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,750 | €2,750 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,750 | €2,750 | = | 0.0% |
| Tax-exempt reserves | 132 | €25,352 | €25,352 | = | 0.0% |
| Distributable reserves | 133 | €76,337 | €76,337 | = | 0.0% |
| Profit (loss) carried forward | 14 | €312,137 | €260,689 | -€51,448 | -16.5% |
| Amounts payable | 17/49 | €60,120 | €31,994 | -€28,126 | -46.8% |
| Amounts payable within one year | 42/48 | €54,057 | €25,914 | -€28,143 | -52.1% |
| Trade debts | 44 | €1,145 | €5,506 | +€4,361 | +381.0% |
| Suppliers | 440/4 | €1,145 | €5,506 | +€4,361 | +381.0% |
| Advances received on contracts in progress | 46 | €3,121 | - | -€3,121 | |
| Taxes, remuneration and social security | 45 | €37,120 | €20,408 | -€16,712 | -45.0% |
| Taxes | 450/3 | €20,541 | €8,368 | -€12,173 | -59.3% |
| Remuneration and social security | 454/9 | €16,579 | €12,040 | -€4,539 | -27.4% |
| Other amounts payable | 47/48 | €12,671 | - | -€12,671 | |
| Accrued charges and deferred income | 492/3 | €6,063 | €6,080 | +€17 | +0.3% |
| Remuneration, social security and pensions | 62 | €325,746 | €191,755 | -€133,991 | -41.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,925 | €29,720 | +€3,795 | +14.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €874 | +€874 | |
| Other operating charges | 640/8 | €10,184 | €8,508 | -€1,676 | -16.5% |
| Gross operating margin | 9900 | €356,293 | €178,965 | -€177,327 | -49.8% |
| Operating profit (loss) | 9901 | -€5,562 | -€51,891 | -€46,329 | -832.9% |
| Financial income | 75/76B | €3,573 | €2,795 | -€778 | -21.8% |
| Recurring financial income | 75 | €3,573 | €2,795 | -€778 | -21.8% |
| Financial charges | 65/66B | €1,129 | €1,561 | +€431 | +38.2% |
| Recurring financial charges | 65 | €1,129 | €1,561 | +€431 | +38.2% |
| Profit (loss) for the period before taxes | 9903 | -€3,118 | -€50,657 | -€47,538 | -1524.5% |
| Income taxes | 67/77 | €2,044 | €791 | -€1,253 | -61.3% |
| Profit (loss) for the period | 9904 | -€5,162 | -€51,448 | -€46,286 | -896.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,162 | -€51,448 | -€46,286 | -896.6% |
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 4 October 2026 via checked.be.