FE: 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.
FE
Largest movements
- Current investments -€479,644
down €479,644 (-68.7%), from €697,673 to €218,030
- Cash -€38,107
down €38,107 (-87.7%), from €43,449 to €5,342
mainly Contributions, distributions and other (-€619,000) and Trade debts (-€8,183)
- Receivables within one year -€16,436
down €16,436 (-71.9%), from €22,872 to €6,436
of which Other amounts receivable: -€11,162
- Reserves -€498,820
down €498,820 (-66.5%), from €750,000 to €251,180
- Profit (loss) carried forward -€23,999
down €23,999 (-36.9%), from €65,013 to €41,014
- Financial income +€181,870
up €181,870 (+7139.1%), from €2,548 to €184,417
- Gross operating margin -€52,647
down €52,647, from €16,891 to -€35,756
- Taxes +€36,373
up €36,373, from -€163 to €36,211
- Financial charges +€7,352
up €7,352 (+845.9%), from €869 to €8,221
- Depreciation -€3,345
down €3,345 (-41.5%), from €8,057 to €4,712
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €861,167 | €321,829 | -€539,338 | -62.6% |
| Fixed assets | 21/28 | €92,518 | €88,649 | -€3,869 | -4.2% |
| Tangible fixed assets | 22/27 | €92,383 | €88,514 | -€3,869 | -4.2% |
| Land and buildings | 22 | €87,571 | €87,273 | -€298 | -0.3% |
| Plant, machinery and equipment | 23 | €359 | €0 | -€359 | -100.0% |
| Furniture and vehicles | 24 | €4,453 | €1,241 | -€3,212 | -72.1% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €768,649 | €233,180 | -€535,470 | -69.7% |
| Amounts receivable within one year | 40/41 | €22,872 | €6,436 | -€16,436 | -71.9% |
| Trade receivables | 40 | €7,509 | €2,235 | -€5,274 | -70.2% |
| Other amounts receivable | 41 | €15,362 | €4,201 | -€11,162 | -72.7% |
| Current investments | 50/53 | €697,673 | €218,030 | -€479,644 | -68.7% |
| Cash at bank and in hand | 54/58 | €43,449 | €5,342 | -€38,107 | -87.7% |
| Deferred charges and accrued income | 490/1 | €4,655 | €3,372 | -€1,283 | -27.6% |
| Total equity and liabilities | 10/49 | €861,167 | €321,829 | -€539,338 | -62.6% |
| Equity | 10/15 | €833,605 | €310,786 | -€522,819 | -62.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €750,000 | €251,180 | -€498,820 | -66.5% |
| Distributable reserves | 133 | €750,000 | €251,180 | -€498,820 | -66.5% |
| Profit (loss) carried forward | 14 | €65,013 | €41,014 | -€23,999 | -36.9% |
| Amounts payable | 17/49 | €27,562 | €11,043 | -€16,519 | -59.9% |
| Amounts payable within one year | 42/48 | €27,395 | €10,952 | -€16,442 | -60.0% |
| Trade debts | 44 | €12,393 | €4,210 | -€8,183 | -66.0% |
| Suppliers | 440/4 | €12,393 | €4,210 | -€8,183 | -66.0% |
| Taxes, remuneration and social security | 45 | €81 | - | -€81 | |
| Taxes | 450/3 | €81 | - | -€81 | |
| Other amounts payable | 47/48 | €14,921 | €6,742 | -€8,179 | -54.8% |
| Accrued charges and deferred income | 492/3 | €167 | €90 | -€77 | -46.1% |
| Remuneration, social security and pensions | 62 | -€136 | €318 | +€454 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,057 | €4,712 | -€3,345 | -41.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,040 | - | +€1,040 | |
| Other operating charges | 640/8 | €3,837 | €3,019 | -€818 | -21.3% |
| Gross operating margin | 9900 | €16,891 | -€35,756 | -€52,647 | |
| Operating profit (loss) | 9901 | €6,173 | -€43,804 | -€49,977 | |
| Financial income | 75/76B | €2,548 | €184,417 | +€181,870 | +7139.1% |
| Recurring financial income | 75 | €2,548 | €184,417 | +€181,870 | +7139.1% |
| Financial charges | 65/66B | €869 | €8,221 | +€7,352 | +845.9% |
| Recurring financial charges | 65 | €869 | €8,221 | +€7,352 | +845.9% |
| Profit (loss) for the period before taxes | 9903 | €7,851 | €132,392 | +€124,540 | +1586.3% |
| Income taxes | 67/77 | -€163 | €36,211 | +€36,373 | |
| Profit (loss) for the period | 9904 | €8,014 | €96,181 | +€88,167 | +1100.1% |
| Profit (loss) for the period to be appropriated | 9905 | €8,014 | €96,181 | +€88,167 | +1100.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.