F.E.S.C.: 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.
F.E.S.C.
Largest movements
- Cash +€8,695
up €8,695 (+18.3%), from €47,415 to €56,110
mainly Receivables within one year (+€6,459) and Net result for the year (+€5,606)
- Receivables within one year -€6,459
down €6,459 (-53.3%), from €12,116 to €5,657
of which Trade receivables: -€12,116
- Current investments +€5,000
up €5,000 (+6.3%), from €80,000 to €85,000
- Reserves +€5,606
up €5,606 (+5.7%), from €97,852 to €103,458
of which Distributable reserves: +€5,606
- Tax, wage and social debts +€1,852
up €1,852 (+40.3%), from €4,601 to €6,453
of which Remuneration and social security: +€2,292
- Gross operating margin -€23,032
down €23,032 (-65.6%), from €35,097 to €12,065
- Taxes -€6,081
down €6,081 (-57.0%), from €10,660 to €4,579
- Financial charges -€712
down €712 (-88.4%), from €805 to €93
- Depreciation +€482
up €482 (+65.2%), from €739 to €1,221
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 | €143,739 | €148,365 | +€4,626 | +3.2% |
| Fixed assets | 21/28 | €2,819 | €1,598 | -€1,221 | -43.3% |
| Tangible fixed assets | 22/27 | €2,819 | €1,598 | -€1,221 | -43.3% |
| Furniture and vehicles | 24 | €2,819 | €1,598 | -€1,221 | -43.3% |
| Current assets | 29/58 | €140,920 | €146,767 | +€5,847 | +4.1% |
| Amounts receivable within one year | 40/41 | €12,116 | €5,657 | -€6,459 | -53.3% |
| Trade receivables | 40 | €12,116 | - | -€12,116 | |
| Other amounts receivable | 41 | - | €5,657 | +€5,657 | |
| Current investments | 50/53 | €80,000 | €85,000 | +€5,000 | +6.3% |
| Cash at bank and in hand | 54/58 | €47,415 | €56,110 | +€8,695 | +18.3% |
| Deferred charges and accrued income | 490/1 | €1,389 | - | -€1,389 | |
| Total equity and liabilities | 10/49 | €143,739 | €148,365 | +€4,626 | +3.2% |
| Equity | 10/15 | €131,867 | €137,473 | +€5,606 | +4.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €97,852 | €103,458 | +€5,606 | +5.7% |
| Non-distributable reserves | 130/1 | €1,418 | €1,418 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,418 | €1,418 | = | 0.0% |
| Distributable reserves | 133 | €96,434 | €102,040 | +€5,606 | +5.8% |
| Profit (loss) carried forward | 14 | €27,815 | €27,815 | = | 0.0% |
| Amounts payable | 17/49 | €11,872 | €10,892 | -€980 | -8.3% |
| Amounts payable within one year | 42/48 | €11,870 | €10,892 | -€978 | -8.2% |
| Trade debts | 44 | €1,438 | - | -€1,438 | |
| Suppliers | 440/4 | €1,438 | - | -€1,438 | |
| Taxes, remuneration and social security | 45 | €4,601 | €6,453 | +€1,852 | +40.3% |
| Taxes | 450/3 | €4,601 | €4,161 | -€440 | -9.6% |
| Remuneration and social security | 454/9 | - | €2,292 | +€2,292 | |
| Other amounts payable | 47/48 | €5,831 | €4,439 | -€1,392 | -23.9% |
| Accrued charges and deferred income | 492/3 | €2 | - | -€2 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €739 | €1,221 | +€482 | +65.2% |
| Other operating charges | 640/8 | €1,177 | €1,354 | +€177 | +15.0% |
| Gross operating margin | 9900 | €35,097 | €12,065 | -€23,032 | -65.6% |
| Operating profit (loss) | 9901 | €33,181 | €9,490 | -€23,691 | -71.4% |
| Financial income | 75/76B | €705 | €788 | +€83 | +11.8% |
| Recurring financial income | 75 | €705 | €788 | +€83 | +11.8% |
| Financial charges | 65/66B | €805 | €93 | -€712 | -88.4% |
| Recurring financial charges | 65 | €805 | €93 | -€712 | -88.4% |
| Profit (loss) for the period before taxes | 9903 | €33,081 | €10,185 | -€22,896 | -69.2% |
| Income taxes | 67/77 | €10,660 | €4,579 | -€6,081 | -57.0% |
| Profit (loss) for the period | 9904 | €22,421 | €5,606 | -€16,815 | -75.0% |
| Profit (loss) for the period to be appropriated | 9905 | €22,421 | €5,606 | -€16,815 | -75.0% |
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 3 October 2026 via checked.be.