FE Group: 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 Group
Largest movements
- Receivables within one year +€61,630
up €61,630 (+11.6%), from €533,130 to €594,760
of which Other amounts receivable: +€77,583
- Tangible fixed assets +€12,723
up €12,723 (+80.6%), from €15,781 to €28,505
of which Leasing and similar rights: +€18,592
- Tax, wage and social debts +€155,314
up €155,314 (+148.0%), from €104,925 to €260,239
of which Remuneration and social security: +€102,741
- Profit (loss) carried forward -€111,233
down €111,233 (-35.5%), from €313,353 to €202,120
- Other debts +€42,000
up €42,000 (+525.0%), from €8,000 to €50,000
- Trade debts -€40,604
down €40,604 (-44.6%), from €91,124 to €50,520
- Short-term financial debts +€14,000
new in 2025: €14,000
- Staff costs +€141,192
up €141,192 (+64.7%), from €218,104 to €359,296
- Taxes -€21,472
down €21,472 (-94.7%), from €22,665 to €1,193
- Gross operating margin +€14,378
up €14,378 (+4.8%), from €298,444 to €312,822
- Other operating charges +€13,601
up €13,601 (+656.9%), from €2,070 to €15,672
- Financial charges +€7,273
up €7,273 (+308.6%), from €2,356 to €9,629
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 | €560,640 | €633,447 | +€72,807 | +13.0% |
| Fixed assets | 21/28 | €16,102 | €29,026 | +€12,923 | +80.3% |
| Tangible fixed assets | 22/27 | €15,781 | €28,505 | +€12,723 | +80.6% |
| Furniture and vehicles | 24 | €13,257 | €7,388 | -€5,869 | -44.3% |
| Leasing and similar rights | 25 | €2,524 | €21,116 | +€18,592 | +736.6% |
| Financial fixed assets | 28 | €321 | €521 | +€200 | +62.3% |
| Current assets | 29/58 | €544,538 | €604,422 | +€59,884 | +11.0% |
| Amounts receivable within one year | 40/41 | €533,130 | €594,760 | +€61,630 | +11.6% |
| Trade receivables | 40 | €53,754 | €37,800 | -€15,953 | -29.7% |
| Other amounts receivable | 41 | €479,377 | €556,960 | +€77,583 | +16.2% |
| Cash at bank and in hand | 54/58 | €9,884 | €5,953 | -€3,931 | -39.8% |
| Deferred charges and accrued income | 490/1 | €1,524 | €3,709 | +€2,185 | +143.4% |
| Total equity and liabilities | 10/49 | €560,640 | €633,447 | +€72,807 | +13.0% |
| Equity | 10/15 | €331,953 | €220,720 | -€111,233 | -33.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €313,353 | €202,120 | -€111,233 | -35.5% |
| Amounts payable | 17/49 | €228,688 | €412,728 | +€184,040 | +80.5% |
| Amounts payable after more than one year | 17 | €14,459 | €27,574 | +€13,115 | +90.7% |
| Financial debts | 170/4 | €14,459 | €27,574 | +€13,115 | +90.7% |
| Amounts payable within one year | 42/48 | €214,228 | €385,154 | +€170,925 | +79.8% |
| Current portion of amounts payable after more than one year | 42 | €10,180 | €10,395 | +€215 | +2.1% |
| Financial debts | 43 | - | €14,000 | +€14,000 | |
| Other loans | 439 | - | €14,000 | +€14,000 | |
| Trade debts | 44 | €91,124 | €50,520 | -€40,604 | -44.6% |
| Suppliers | 440/4 | €91,124 | €50,520 | -€40,604 | -44.6% |
| Taxes, remuneration and social security | 45 | €104,925 | €260,239 | +€155,314 | +148.0% |
| Taxes | 450/3 | €65,883 | €118,456 | +€52,573 | +79.8% |
| Remuneration and social security | 454/9 | €39,042 | €141,783 | +€102,741 | +263.2% |
| Other amounts payable | 47/48 | €8,000 | €50,000 | +€42,000 | +525.0% |
| Remuneration, social security and pensions | 62 | €218,104 | €359,296 | +€141,192 | +64.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,284 | €16,721 | +€5,437 | +48.2% |
| Other operating charges | 640/8 | €2,070 | €15,672 | +€13,601 | +656.9% |
| Non-recurring operating charges | 66A | €915 | €1,156 | +€241 | +26.3% |
| Gross operating margin | 9900 | €298,444 | €312,822 | +€14,378 | +4.8% |
| Operating profit (loss) | 9901 | €66,071 | -€80,022 | -€146,093 | |
| Financial income | 75/76B | €25,945 | €29,611 | +€3,666 | +14.1% |
| Recurring financial income | 75 | €25,945 | €29,611 | +€3,666 | +14.1% |
| Financial charges | 65/66B | €2,356 | €9,629 | +€7,273 | +308.6% |
| Recurring financial charges | 65 | €2,356 | €9,629 | +€7,273 | +308.6% |
| Profit (loss) for the period before taxes | 9903 | €89,660 | -€60,040 | -€149,700 | |
| Income taxes | 67/77 | €22,665 | €1,193 | -€21,472 | -94.7% |
| Profit (loss) for the period | 9904 | €66,995 | -€61,233 | -€128,228 | |
| Profit (loss) for the period to be appropriated | 9905 | €66,995 | -€61,233 | -€128,228 |
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 6 October 2026 via checked.be.