FANNEL GROUP: 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.
FANNEL GROUP
Largest movements
- Cash +€5,519
up €5,519 (+34.7%), from €15,883 to €21,402
mainly Net result for the year (+€4,618) and Receivables within one year (+€1,434)
- Receivables within one year -€1,434
down €1,434 (-18.9%), from €7,604 to €6,170
of which Other amounts receivable: -€1,506
- Profit (loss) carried forward +€4,618
up €4,618 (+41.6%), from €11,094 to €15,712
- Trade debts -€630
down €630 (-13.8%), from €4,575 to €3,944
- Gross operating margin +€12,824
up €12,824 (+91.5%), from €14,020 to €26,844
- Staff costs +€10,857
up €10,857 (+110%), from €9,899 to €20,756
- Depreciation -€3,130
down €3,130 (-83.2%), from €3,763 to €633
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 | €24,815 | €28,778 | +€3,963 | +16.0% |
| Fixed assets | 21/28 | €1,328 | €1,206 | -€122 | -9.2% |
| Tangible fixed assets | 22/27 | €1,328 | €1,206 | -€122 | -9.2% |
| Plant, machinery and equipment | 23 | €995 | €1,206 | +€211 | +21.2% |
| Furniture and vehicles | 24 | €333 | - | -€333 | |
| Current assets | 29/58 | €23,487 | €27,572 | +€4,085 | +17.4% |
| Amounts receivable within one year | 40/41 | €7,604 | €6,170 | -€1,434 | -18.9% |
| Trade receivables | 40 | €4,602 | €4,674 | +€72 | +1.6% |
| Other amounts receivable | 41 | €3,002 | €1,496 | -€1,506 | -50.2% |
| Cash at bank and in hand | 54/58 | €15,883 | €21,402 | +€5,519 | +34.7% |
| Total equity and liabilities | 10/49 | €24,815 | €28,778 | +€3,963 | +16.0% |
| Equity | 10/15 | €18,094 | €22,712 | +€4,618 | +25.5% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,094 | €15,712 | +€4,618 | +41.6% |
| Amounts payable | 17/49 | €6,721 | €6,066 | -€655 | -9.8% |
| Amounts payable within one year | 42/48 | €6,721 | €6,066 | -€655 | -9.8% |
| Trade debts | 44 | €4,575 | €3,944 | -€630 | -13.8% |
| Suppliers | 440/4 | €4,575 | €3,944 | -€630 | -13.8% |
| Taxes, remuneration and social security | 45 | €2,147 | €2,122 | -€25 | -1.2% |
| Taxes | 450/3 | €2,108 | €1,946 | -€162 | -7.7% |
| Remuneration and social security | 454/9 | €39 | €176 | +€137 | +354% |
| Remuneration, social security and pensions | 62 | €9,899 | €20,756 | +€10,857 | +110% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,763 | €633 | -€3,130 | -83.2% |
| Other operating charges | 640/8 | €720 | €501 | -€219 | -30.4% |
| Gross operating margin | 9900 | €14,020 | €26,844 | +€12,824 | +91.5% |
| Operating profit (loss) | 9901 | -€361 | €4,954 | +€5,315 | |
| Financial charges | 65/66B | €239 | €335 | +€96 | +40.4% |
| Recurring financial charges | 65 | €239 | €335 | +€96 | +40.4% |
| Profit (loss) for the period before taxes | 9903 | -€600 | €4,618 | +€5,219 | |
| Profit (loss) for the period | 9904 | -€600 | €4,618 | +€5,219 | |
| Profit (loss) for the period to be appropriated | 9905 | -€600 | €4,618 | +€5,219 |
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 17 October 2026 via checked.be.