FUSUMA: 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.
FUSUMA
Largest movements
- Stocks and contracts +€19,980
new in 2025: €19,980
- Cash -€17,338
down €17,338 (-44.0%), from €39,433 to €22,095
mainly Stocks and contracts (-€19,980) and Receivables within one year (-€11,144)
- Receivables within one year +€11,144
up €11,144 (+93.1%), from €11,971 to €23,115
of which Trade receivables: +€14,213
- Tangible fixed assets -€1,978
down €1,978 (-33.3%), from €5,934 to €3,956
- Reserves +€15,387
up €15,387 (+31.5%), from €48,779 to €64,167
- Tax, wage and social debts -€3,074
down €3,074 (-57.9%), from €5,309 to €2,235
- Gross operating margin +€11,808
up €11,808 (+85.3%), from €13,837 to €25,645
- Taxes +€3,101
up €3,101 (+70.0%), from €4,431 to €7,532
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 | €60,038 | €72,500 | +€12,462 | +20.8% |
| Fixed assets | 21/28 | €5,934 | €3,956 | -€1,978 | -33.3% |
| Tangible fixed assets | 22/27 | €5,934 | €3,956 | -€1,978 | -33.3% |
| Furniture and vehicles | 24 | €5,934 | €3,956 | -€1,978 | -33.3% |
| Current assets | 29/58 | €54,104 | €68,544 | +€14,440 | +26.7% |
| Stocks and contracts in progress | 3 | - | €19,980 | +€19,980 | |
| Stocks | 30/36 | - | €19,980 | +€19,980 | |
| Amounts receivable within one year | 40/41 | €11,971 | €23,115 | +€11,144 | +93.1% |
| Trade receivables | 40 | €8,902 | €23,115 | +€14,213 | +159.7% |
| Other amounts receivable | 41 | €3,069 | €0 | -€3,069 | -100.0% |
| Cash at bank and in hand | 54/58 | €39,433 | €22,095 | -€17,338 | -44.0% |
| Deferred charges and accrued income | 490/1 | €2,700 | €3,354 | +€655 | +24.3% |
| Total equity and liabilities | 10/49 | €60,038 | €72,500 | +€12,462 | +20.8% |
| Equity | 10/15 | €50,779 | €66,167 | +€15,387 | +30.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €48,779 | €64,167 | +€15,387 | +31.5% |
| Distributable reserves | 133 | €48,779 | €64,167 | +€15,387 | +31.5% |
| Amounts payable | 17/49 | €9,258 | €6,334 | -€2,925 | -31.6% |
| Amounts payable within one year | 42/48 | €9,258 | €6,334 | -€2,925 | -31.6% |
| Trade debts | 44 | €1,825 | €2,047 | +€222 | +12.2% |
| Suppliers | 440/4 | €1,825 | €2,047 | +€222 | +12.2% |
| Taxes, remuneration and social security | 45 | €5,309 | €2,235 | -€3,074 | -57.9% |
| Taxes | 450/3 | €5,309 | €2,235 | -€3,074 | -57.9% |
| Other amounts payable | 47/48 | €2,125 | €2,052 | -€73 | -3.4% |
| Non-recurring operating income | 76A | €0 | €11,818 | +€11,818 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,978 | €1,978 | = | 0.0% |
| Other operating charges | 640/8 | €567 | €634 | +€66 | +11.7% |
| Gross operating margin | 9900 | €13,837 | €25,645 | +€11,808 | +85.3% |
| Operating profit (loss) | 9901 | €11,292 | €23,034 | +€11,742 | +104.0% |
| Financial income | 75/76B | €22 | €0 | -€22 | -100.0% |
| Recurring financial income | 75 | €22 | €0 | -€22 | -100.0% |
| Financial charges | 65/66B | €180 | €115 | -€66 | -36.4% |
| Recurring financial charges | 65 | €180 | €115 | -€66 | -36.4% |
| Profit (loss) for the period before taxes | 9903 | €11,133 | €22,919 | +€11,786 | +105.9% |
| Income taxes | 67/77 | €4,431 | €7,532 | +€3,101 | +70.0% |
| Profit (loss) for the period | 9904 | €6,702 | €15,387 | +€8,685 | +129.6% |
| Profit (loss) for the period to be appropriated | 9905 | €6,702 | €15,387 | +€8,685 | +129.6% |
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 9 October 2026 via checked.be.