RED FUSE SECURITY: 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.
RED FUSE SECURITY
Largest movements
- Cash +€27,093
up €27,093 (+58.2%), from €46,517 to €73,609
mainly Other debts (+€49,339) and Net result for the year (+€42,443)
- Receivables within one year -€20,202
down €20,202 (-46.2%), from €43,691 to €23,489
of which Trade receivables: -€15,691
- Tangible fixed assets -€1,497
down €1,497 (-6.6%), from €22,662 to €21,165
of which Other tangible fixed assets: -€1,766
- Other debts +€49,339
new in 2025: €49,339
- Profit (loss) carried forward -€47,557
down €47,557 (-62.9%), from €75,617 to €28,060
- Tax, wage and social debts +€3,713
up €3,713 (+10.4%), from €35,861 to €39,574
- Gross operating margin +€9,537
up €9,537 (+16.9%), from €56,549 to €66,085
- Other operating charges +€4,563
up €4,563 (+811%), from €563 to €5,125
- Depreciation +€1,477
up €1,477 (+55.2%), from €2,675 to €4,152
- Taxes +€1,105
up €1,105 (+8.8%), from €12,612 to €13,717
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 | €114,683 | €119,904 | +€5,222 | +4.6% |
| Fixed assets | 21/28 | €22,662 | €21,165 | -€1,497 | -6.6% |
| Tangible fixed assets | 22/27 | €22,662 | €21,165 | -€1,497 | -6.6% |
| Plant, machinery and equipment | 23 | €231 | €162 | -€69 | -30.0% |
| Furniture and vehicles | 24 | €5,206 | €5,545 | +€339 | +6.5% |
| Other tangible fixed assets | 26 | €17,225 | €15,459 | -€1,766 | -10.3% |
| Current assets | 29/58 | €92,021 | €98,739 | +€6,718 | +7.3% |
| Amounts receivable within one year | 40/41 | €43,691 | €23,489 | -€20,202 | -46.2% |
| Trade receivables | 40 | €37,897 | €22,206 | -€15,691 | -41.4% |
| Other amounts receivable | 41 | €5,793 | €1,283 | -€4,511 | -77.9% |
| Cash at bank and in hand | 54/58 | €46,517 | €73,609 | +€27,093 | +58.2% |
| Deferred charges and accrued income | 490/1 | €1,814 | €1,641 | -€173 | -9.5% |
| Total equity and liabilities | 10/49 | €114,683 | €119,904 | +€5,222 | +4.6% |
| Equity | 10/15 | €77,617 | €30,060 | -€47,557 | -61.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €75,617 | €28,060 | -€47,557 | -62.9% |
| Amounts payable | 17/49 | €37,066 | €89,844 | +€52,778 | +142% |
| Amounts payable within one year | 42/48 | €36,316 | €89,094 | +€52,778 | +145% |
| Trade debts | 44 | €455 | €182 | -€274 | -60.1% |
| Suppliers | 440/4 | €455 | €182 | -€274 | -60.1% |
| Taxes, remuneration and social security | 45 | €35,861 | €39,574 | +€3,713 | +10.4% |
| Taxes | 450/3 | €35,861 | €39,574 | +€3,713 | +10.4% |
| Other amounts payable | 47/48 | - | €49,339 | +€49,339 | |
| Accrued charges and deferred income | 492/3 | €750 | €750 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,675 | €4,152 | +€1,477 | +55.2% |
| Other operating charges | 640/8 | €563 | €5,125 | +€4,563 | +811% |
| Gross operating margin | 9900 | €56,549 | €66,085 | +€9,537 | +16.9% |
| Operating profit (loss) | 9901 | €53,311 | €56,808 | +€3,497 | +6.6% |
| Financial income | 75/76B | €215 | €98 | -€117 | -54.3% |
| Recurring financial income | 75 | €215 | €98 | -€117 | -54.3% |
| Financial charges | 65/66B | €456 | €746 | +€290 | +63.7% |
| Recurring financial charges | 65 | €456 | €746 | +€290 | +63.7% |
| Profit (loss) for the period before taxes | 9903 | €53,071 | €56,160 | +€3,090 | +5.8% |
| Income taxes | 67/77 | €12,612 | €13,717 | +€1,105 | +8.8% |
| Profit (loss) for the period | 9904 | €40,458 | €42,443 | +€1,985 | +4.9% |
| Profit (loss) for the period to be appropriated | 9905 | €40,458 | €42,443 | +€1,985 | +4.9% |
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 18 October 2026 via checked.be.