FIDELO: 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.
FIDELO
Largest movements
- Cash +€28,869
up €28,869 (+85.7%), from €33,705 to €62,574
mainly Tax, wage and social debts (+€16,824) and Investment in fixed assets (net) (+€14,127)
- Tangible fixed assets -€14,498
down €14,498 (-52.7%), from €27,495 to €12,997
- Receivables within one year +€12,034
up €12,034 (+41.4%), from €29,075 to €41,109
of which Trade receivables: +€11,322
- Financial fixed assets -€5,500
down €5,500 (-76.4%), from €7,197 to €1,697
- Intangible fixed assets -€2,800
down €2,800 (-27.5%), from €10,200 to €7,400
- Tax, wage and social debts +€16,824
up €16,824 (+125%), from €13,494 to €30,318
of which Remuneration and social security: +€9,088
- Debts after one year -€5,038
down €5,038 (-56.5%), from €8,924 to €3,886
- Reserves +€4,310
up €4,310 (+6.5%), from €66,595 to €70,905
- Gross operating margin +€47,505
up €47,505 (+52.2%), from €90,965 to €138,470
- Staff costs +€35,591
up €35,591 (+49.5%), from €71,959 to €107,550
- Taxes +€7,050
up €7,050 (+214%), from €3,301 to €10,351
- Depreciation -€1,529
down €1,529 (-15.0%), from €10,200 to €8,671
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 | €107,672 | €125,777 | +€18,105 | +16.8% |
| Fixed assets | 21/28 | €44,892 | €22,094 | -€22,798 | -50.8% |
| Intangible fixed assets | 21 | €10,200 | €7,400 | -€2,800 | -27.5% |
| Tangible fixed assets | 22/27 | €27,495 | €12,997 | -€14,498 | -52.7% |
| Furniture and vehicles | 24 | €27,495 | €12,997 | -€14,498 | -52.7% |
| Financial fixed assets | 28 | €7,197 | €1,697 | -€5,500 | -76.4% |
| Current assets | 29/58 | €62,780 | €103,683 | +€40,903 | +65.2% |
| Amounts receivable within one year | 40/41 | €29,075 | €41,109 | +€12,034 | +41.4% |
| Trade receivables | 40 | €25,594 | €36,916 | +€11,322 | +44.2% |
| Other amounts receivable | 41 | €3,481 | €4,193 | +€712 | +20.5% |
| Cash at bank and in hand | 54/58 | €33,705 | €62,574 | +€28,869 | +85.7% |
| Total equity and liabilities | 10/49 | €107,672 | €125,777 | +€18,105 | +16.8% |
| Equity | 10/15 | €72,795 | €77,105 | +€4,310 | +5.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €66,595 | €70,905 | +€4,310 | +6.5% |
| Distributable reserves | 133 | €66,595 | €70,905 | +€4,310 | +6.5% |
| Amounts payable | 17/49 | €34,877 | €48,672 | +€13,795 | +39.6% |
| Amounts payable after more than one year | 17 | €8,924 | €3,886 | -€5,038 | -56.5% |
| Financial debts | 170/4 | €8,924 | €3,886 | -€5,038 | -56.5% |
| Amounts payable within one year | 42/48 | €25,953 | €44,786 | +€18,833 | +72.6% |
| Current portion of amounts payable after more than one year | 42 | €4,880 | €5,038 | +€158 | +3.2% |
| Trade debts | 44 | €2,719 | €3,947 | +€1,228 | +45.2% |
| Suppliers | 440/4 | €2,719 | €3,947 | +€1,228 | +45.2% |
| Taxes, remuneration and social security | 45 | €13,494 | €30,318 | +€16,824 | +125% |
| Taxes | 450/3 | €6,186 | €13,922 | +€7,736 | +125% |
| Remuneration and social security | 454/9 | €7,308 | €16,396 | +€9,088 | +124% |
| Other amounts payable | 47/48 | €4,860 | €5,483 | +€623 | +12.8% |
| Remuneration, social security and pensions | 62 | €71,959 | €107,550 | +€35,591 | +49.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,200 | €8,671 | -€1,529 | -15.0% |
| Other operating charges | 640/8 | €1,414 | €559 | -€855 | -60.5% |
| Gross operating margin | 9900 | €90,965 | €138,470 | +€47,505 | +52.2% |
| Operating profit (loss) | 9901 | €7,392 | €21,690 | +€14,298 | +193% |
| Financial income | 75/76B | €72 | €150 | +€78 | +108% |
| Recurring financial income | 75 | €72 | €150 | +€78 | +108% |
| Financial charges | 65/66B | €604 | €755 | +€151 | +25.0% |
| Recurring financial charges | 65 | €604 | €755 | +€151 | +25.0% |
| Profit (loss) for the period before taxes | 9903 | €6,860 | €21,085 | +€14,225 | +207% |
| Income taxes | 67/77 | €3,301 | €10,351 | +€7,050 | +214% |
| Profit (loss) for the period | 9904 | €3,559 | €10,734 | +€7,175 | +202% |
| Profit (loss) for the period to be appropriated | 9905 | €3,559 | €10,734 | +€7,175 | +202% |
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 1 November 2026 via checked.be.