FUZ: 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.
FUZ
Largest movements
- Receivables within one year -€148,450
down €148,450 (-97.0%), from €153,013 to €4,563
of which Trade receivables: -€148,722
- Tangible fixed assets +€124,888
up €124,888 (+45.5%), from €274,288 to €399,176
of which Land and buildings: +€175,617
- Cash -€29,426
down €29,426 (-49.1%), from €59,884 to €30,458
mainly Investment in fixed assets (net) (-€139,026) and Trade debts (-€129,628)
- Receivables after one year +€11,520
new in 2025: €11,520
- Current investments +€8,000
up €8,000 (+396.7%), from €2,017 to €10,017
- Trade debts -€129,628
down €129,628 (-98.5%), from €131,558 to €1,931
- Debts after one year +€97,334
up €97,334 (+65.8%), from €147,930 to €245,264
- Reserves +€23,475
up €23,475 (+23.8%), from €98,444 to €121,919
- Tax, wage and social debts -€13,748
down €13,748 (-32.9%), from €41,812 to €28,065
of which Taxes: -€8,823
- Short-term financial debts -€9,968
down €9,968 (-100.0%), from €9,968 to €0
- Gross operating margin -€23,312
down €23,312 (-28.7%), from €81,259 to €57,947
- Taxes -€6,921
down €6,921 (-34.9%), from €19,840 to €12,919
- Depreciation -€5,566
down €5,566 (-28.2%), from €19,704 to €14,139
- Other operating charges +€1,314
up €1,314 (+142.0%), from €925 to €2,239
- Financial income -€881
down €881 (-70.5%), from €1,249 to €368
of which Non-recurring financial income: -€1,249
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 | €489,201 | €455,733 | -€33,468 | -6.8% |
| Fixed assets | 21/28 | €274,288 | €399,176 | +€124,888 | +45.5% |
| Tangible fixed assets | 22/27 | €274,288 | €399,176 | +€124,888 | +45.5% |
| Land and buildings | 22 | €208,039 | €383,655 | +€175,617 | +84.4% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €43,989 | €1,357 | -€42,632 | -96.9% |
| Leasing and similar rights | 25 | €19,551 | €11,795 | -€7,757 | -39.7% |
| Other tangible fixed assets | 26 | €2,709 | €2,369 | -€340 | -12.5% |
| Current assets | 29/58 | €214,913 | €56,557 | -€158,356 | -73.7% |
| Amounts receivable after more than one year | 29 | - | €11,520 | +€11,520 | |
| Other amounts receivable | 291 | - | €11,520 | +€11,520 | |
| Amounts receivable within one year | 40/41 | €153,013 | €4,563 | -€148,450 | -97.0% |
| Trade receivables | 40 | €152,013 | €3,291 | -€148,722 | -97.8% |
| Other amounts receivable | 41 | €1,000 | €1,272 | +€272 | +27.2% |
| Current investments | 50/53 | €2,017 | €10,017 | +€8,000 | +396.7% |
| Cash at bank and in hand | 54/58 | €59,884 | €30,458 | -€29,426 | -49.1% |
| Total equity and liabilities | 10/49 | €489,201 | €455,733 | -€33,468 | -6.8% |
| Equity | 10/15 | €128,444 | €151,919 | +€23,475 | +18.3% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €98,444 | €121,919 | +€23,475 | +23.8% |
| Distributable reserves | 133 | €98,444 | €121,919 | +€23,475 | +23.8% |
| Amounts payable | 17/49 | €360,757 | €303,814 | -€56,944 | -15.8% |
| Amounts payable after more than one year | 17 | €147,930 | €245,264 | +€97,334 | +65.8% |
| Financial debts | 170/4 | €147,930 | €245,264 | +€97,334 | +65.8% |
| Amounts payable within one year | 42/48 | €212,827 | €58,549 | -€154,278 | -72.5% |
| Current portion of amounts payable after more than one year | 42 | €24,380 | €28,554 | +€4,174 | +17.1% |
| Financial debts | 43 | €9,968 | €0 | -€9,968 | -100.0% |
| Other loans | 439 | €9,968 | €0 | -€9,968 | -100.0% |
| Trade debts | 44 | €131,558 | €1,931 | -€129,628 | -98.5% |
| Suppliers | 440/4 | €131,558 | €1,931 | -€129,628 | -98.5% |
| Advances received on contracts in progress | 46 | €1,390 | €0 | -€1,390 | -100.0% |
| Taxes, remuneration and social security | 45 | €41,812 | €28,065 | -€13,748 | -32.9% |
| Taxes | 450/3 | €33,889 | €25,066 | -€8,823 | -26.0% |
| Remuneration and social security | 454/9 | €7,924 | €2,999 | -€4,924 | -62.1% |
| Other amounts payable | 47/48 | €3,719 | €0 | -€3,719 | -100.0% |
| Non-recurring operating income | 76A | €17,529 | €0 | -€17,529 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,704 | €14,139 | -€5,566 | -28.2% |
| Other operating charges | 640/8 | €925 | €2,239 | +€1,314 | +142.0% |
| Gross operating margin | 9900 | €81,259 | €57,947 | -€23,312 | -28.7% |
| Operating profit (loss) | 9901 | €60,629 | €41,570 | -€19,059 | -31.4% |
| Financial income | 75/76B | €1,249 | €368 | -€881 | -70.5% |
| Recurring financial income | 75 | €0 | €368 | +€368 | +1839950.0% |
| Non-recurring financial income | 76B | €1,249 | €0 | -€1,249 | -100.0% |
| Financial charges | 65/66B | €5,045 | €5,543 | +€498 | +9.9% |
| Recurring financial charges | 65 | €5,045 | €5,543 | +€498 | +9.9% |
| Profit (loss) for the period before taxes | 9903 | €56,833 | €36,395 | -€20,439 | -36.0% |
| Income taxes | 67/77 | €19,840 | €12,919 | -€6,921 | -34.9% |
| Profit (loss) for the period | 9904 | €36,993 | €23,475 | -€13,518 | -36.5% |
| Profit (loss) for the period to be appropriated | 9905 | €36,993 | €23,475 | -€13,518 | -36.5% |
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 6 October 2026 via checked.be.