Fidelis: 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.
Fidelis
Largest movements
- Intangible fixed assets +€420,737
up €420,737 (+48.7%), from €863,600 to €1.3m
- Receivables within one year +€412,271
up €412,271 (+539%), from €76,465 to €488,736
of which Other amounts receivable: +€388,616
- Contributions +€339,716
up €339,716 (+341%), from €99,630 to €439,346
- Debts after one year +€269,732
up €269,732 (+84.8%), from €318,207 to €587,939
- Other debts +€120,643
up €120,643 (+50.3%), from €240,045 to €360,689
- Current portion of long-term debt +€101,005
up €101,005 (+105%), from €96,311 to €197,316
- Reserves -€24,564
down €24,564 (-11.2%), from €219,623 to €195,059
- Depreciation +€157,401
up €157,401 (+72.2%), from €217,889 to €375,290
- Gross operating margin -€78,997
down €78,997 (-13.8%), from €572,245 to €493,248
- Staff costs +€21,648
up €21,648 (+22.7%), from €95,330 to €116,978
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 | €1,004,713 | €1,837,422 | +€832,709 | +82.9% |
| Fixed assets | 21/28 | €868,052 | €1,289,453 | +€421,401 | +48.5% |
| Intangible fixed assets | 21 | €863,600 | €1,284,337 | +€420,737 | +48.7% |
| Tangible fixed assets | 22/27 | €4,452 | €5,116 | +€664 | +14.9% |
| Furniture and vehicles | 24 | €4,452 | €5,116 | +€664 | +14.9% |
| Current assets | 29/58 | €136,661 | €547,969 | +€411,308 | +301% |
| Amounts receivable within one year | 40/41 | €76,465 | €488,736 | +€412,271 | +539% |
| Trade receivables | 40 | €61,656 | €85,312 | +€23,656 | +38.4% |
| Other amounts receivable | 41 | €14,809 | €403,424 | +€388,616 | +2,624% |
| Cash at bank and in hand | 54/58 | €59,426 | €56,702 | -€2,724 | -4.6% |
| Deferred charges and accrued income | 490/1 | €770 | €2,531 | +€1,761 | +229% |
| Total equity and liabilities | 10/49 | €1,004,713 | €1,837,422 | +€832,709 | +82.9% |
| Equity | 10/15 | €319,253 | €634,405 | +€315,152 | +98.7% |
| Contributions | 10/11 | €99,630 | €439,346 | +€339,716 | +341% |
| Reserves | 13 | €219,623 | €195,059 | -€24,564 | -11.2% |
| Distributable reserves | 133 | €219,623 | €195,059 | -€24,564 | -11.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €685,460 | €1,203,017 | +€517,557 | +75.5% |
| Amounts payable after more than one year | 17 | €318,207 | €587,939 | +€269,732 | +84.8% |
| Financial debts | 170/4 | €318,207 | €587,939 | +€269,732 | +84.8% |
| Amounts payable within one year | 42/48 | €367,254 | €611,171 | +€243,917 | +66.4% |
| Current portion of amounts payable after more than one year | 42 | €96,311 | €197,316 | +€101,005 | +105% |
| Trade debts | 44 | €14,786 | €35,277 | +€20,491 | +139% |
| Suppliers | 440/4 | €14,786 | €35,277 | +€20,491 | +139% |
| Taxes, remuneration and social security | 45 | €16,112 | €17,889 | +€1,777 | +11.0% |
| Taxes | 450/3 | €3,964 | €3,964 | = | 0.0% |
| Remuneration and social security | 454/9 | €12,148 | €13,925 | +€1,777 | +14.6% |
| Other amounts payable | 47/48 | €240,045 | €360,689 | +€120,643 | +50.3% |
| Accrued charges and deferred income | 492/3 | €0 | €3,907 | +€3,907 | |
| Remuneration, social security and pensions | 62 | €95,330 | €116,978 | +€21,648 | +22.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €217,889 | €375,290 | +€157,401 | +72.2% |
| Other operating charges | 640/8 | €1,529 | €1,209 | -€320 | -20.9% |
| Non-recurring operating charges | 66A | €926 | €232 | -€694 | -75.0% |
| Gross operating margin | 9900 | €572,245 | €493,248 | -€78,997 | -13.8% |
| Operating profit (loss) | 9901 | €256,571 | -€461 | -€257,032 | |
| Financial income | 75/76B | €242 | €360 | +€118 | +48.7% |
| Recurring financial income | 75 | €242 | €360 | +€118 | +48.7% |
| Financial charges | 65/66B | €20,108 | €24,462 | +€4,354 | +21.7% |
| Recurring financial charges | 65 | €20,108 | €24,462 | +€4,354 | +21.7% |
| Profit (loss) for the period before taxes | 9903 | €236,704 | -€24,564 | -€261,268 | |
| Income taxes | 67/77 | €4,036 | €0 | -€4,036 | -100% |
| Profit (loss) for the period | 9904 | €232,668 | -€24,564 | -€257,232 | |
| Profit (loss) for the period to be appropriated | 9905 | €232,668 | -€24,564 | -€257,232 |
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 24 October 2026 via checked.be.