Fuzed: 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.
Fuzed
Largest movements
- Cash +€146,707
up €146,707 (+78.5%), from €186,795 to €333,502
mainly Net result for the year (+€165,342) and Receivables within one year (+€27,893)
- Receivables within one year -€27,893
down €27,893 (-30.5%), from €91,533 to €63,640
of which Trade receivables: -€27,893
- Tangible fixed assets -€18,573
down €18,573 (-34.9%), from €53,165 to €34,593
of which Furniture and vehicles: -€12,984
- Reserves +€165,342
up €165,342 (+164.1%), from €100,783 to €266,124
of which Distributable reserves: +€165,342
- Other debts -€53,917
down €53,917 (-43.0%), from €125,306 to €71,389
- Trade debts -€10,118
down €10,118 (-66.7%), from €15,179 to €5,061
- Debts after one year -€7,105
down €7,105 (-100.0%), from €7,105 to €0
- Gross operating margin +€47,022
up €47,022 (+12.3%), from €381,428 to €428,450
- Taxes +€11,000
up €11,000 (+25.1%), from €43,800 to €54,800
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 | €343,503 | €437,690 | +€94,188 | +27.4% |
| Fixed assets | 21/28 | €55,522 | €34,593 | -€20,929 | -37.7% |
| Tangible fixed assets | 22/27 | €53,165 | €34,593 | -€18,573 | -34.9% |
| Plant, machinery and equipment | 23 | €1,321 | €4,250 | +€2,929 | +221.7% |
| Furniture and vehicles | 24 | €36,805 | €23,821 | -€12,984 | -35.3% |
| Leasing and similar rights | 25 | €14,745 | €6,388 | -€8,357 | -56.7% |
| Other tangible fixed assets | 26 | €295 | €134 | -€161 | -54.6% |
| Financial fixed assets | 28 | €2,356 | €0 | -€2,356 | -100.0% |
| Current assets | 29/58 | €287,981 | €403,097 | +€115,116 | +40.0% |
| Amounts receivable within one year | 40/41 | €91,533 | €63,640 | -€27,893 | -30.5% |
| Trade receivables | 40 | €91,533 | €63,640 | -€27,893 | -30.5% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €186,795 | €333,502 | +€146,707 | +78.5% |
| Deferred charges and accrued income | 490/1 | €9,653 | €5,955 | -€3,698 | -38.3% |
| Total equity and liabilities | 10/49 | €343,503 | €437,690 | +€94,188 | +27.4% |
| Equity | 10/15 | €119,533 | €284,874 | +€165,342 | +138.3% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €100,783 | €266,124 | +€165,342 | +164.1% |
| Non-distributable reserves | 130/1 | €1,875 | €1,875 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,875 | €1,875 | = | 0.0% |
| Distributable reserves | 133 | €98,908 | €264,249 | +€165,342 | +167.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €223,970 | €152,816 | -€71,154 | -31.8% |
| Amounts payable after more than one year | 17 | €7,105 | €0 | -€7,105 | -100.0% |
| Financial debts | 170/4 | €7,105 | €0 | -€7,105 | -100.0% |
| Amounts payable within one year | 42/48 | €216,864 | €152,816 | -€64,049 | -29.5% |
| Current portion of amounts payable after more than one year | 42 | €7,024 | €7,105 | +€81 | +1.2% |
| Trade debts | 44 | €15,179 | €5,061 | -€10,118 | -66.7% |
| Suppliers | 440/4 | €15,179 | €5,061 | -€10,118 | -66.7% |
| Taxes, remuneration and social security | 45 | €69,355 | €69,260 | -€95 | -0.1% |
| Taxes | 450/3 | €26,361 | €47,215 | +€20,854 | +79.1% |
| Remuneration and social security | 454/9 | €42,994 | €22,046 | -€20,948 | -48.7% |
| Other amounts payable | 47/48 | €125,306 | €71,389 | -€53,917 | -43.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €177,952 | €181,271 | +€3,318 | +1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,435 | €23,706 | +€2,271 | +10.6% |
| Other operating charges | 640/8 | €980 | €1,740 | +€761 | +77.6% |
| Gross operating margin | 9900 | €381,428 | €428,450 | +€47,022 | +12.3% |
| Operating profit (loss) | 9901 | €181,060 | €221,733 | +€40,673 | +22.5% |
| Financial income | 75/76B | €18 | €24 | +€6 | +30.8% |
| Recurring financial income | 75 | €18 | €24 | +€6 | +30.8% |
| Financial charges | 65/66B | €2,232 | €1,615 | -€617 | -27.6% |
| Recurring financial charges | 65 | €2,232 | €1,615 | -€617 | -27.6% |
| Profit (loss) for the period before taxes | 9903 | €178,846 | €220,141 | +€41,296 | +23.1% |
| Income taxes | 67/77 | €43,800 | €54,800 | +€11,000 | +25.1% |
| Profit (loss) for the period | 9904 | €135,045 | €165,342 | +€30,296 | +22.4% |
| Profit (loss) for the period to be appropriated | 9905 | €135,045 | €165,342 | +€30,296 | +22.4% |
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 9 October 2026 via checked.be.