FE PROJECTS: 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.
FE PROJECTS
Largest movements
- Receivables within one year -€5.3m
down €5.3m (-72.0%), from €7.4m to €2.1m
of which Trade receivables: -€5.3m
- Cash -€1.1m
down €1.1m (-99.2%), from €1.2m to €8,921
mainly Trade debts (-€7.5m) and Tax, wage and social debts (-€241,940)
- Trade debts -€7.5m
down €7.5m (-92.4%), from €8.2m to €618,602
- Other debts +€1.4m
up €1.4m (+22983.3%), from €6,000 to €1.4m
- Tax, wage and social debts -€241,940
no longer reported in 2025 (was €241,940)
- Accrued charges and deferred income -€100,000
down €100,000 (-99.6%), from €100,375 to €375
- Turnover -€14.8m
down €14.8m (-74.6%), from €19.9m to €5.1m
- Gross operating margin -€14.8m
down €14.8m (-74.6%), from €19.9m to €5.1m
- Purchases and services -€14.7m
down €14.7m (-74.6%), from €19.7m to €5.0m
- Other operating charges -€14.7m
down €14.7m (-74.6%), from €19.7m to €5.0m
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 | €8,573,517 | €2,089,025 | -€6.5m | -75.6% |
| Current assets | 29/58 | €8,573,517 | €2,089,025 | -€6.5m | -75.6% |
| Amounts receivable within one year | 40/41 | €7,415,945 | €2,080,104 | -€5.3m | -72.0% |
| Trade receivables | 40 | €7,415,945 | €2,078,949 | -€5.3m | -72.0% |
| Other amounts receivable | 41 | - | €1,155 | +€1,155 | |
| Cash at bank and in hand | 54/58 | €1,157,572 | €8,921 | -€1.1m | -99.2% |
| Total equity and liabilities | 10/49 | €8,573,517 | €2,089,025 | -€6.5m | -75.6% |
| Equity | 10/15 | €65,395 | €85,047 | +€19,652 | +30.1% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,395 | €35,047 | +€19,652 | +127.7% |
| Amounts payable | 17/49 | €8,508,122 | €2,003,977 | -€6.5m | -76.4% |
| Amounts payable within one year | 42/48 | €8,407,747 | €2,003,602 | -€6.4m | -76.2% |
| Trade debts | 44 | €8,159,807 | €618,602 | -€7.5m | -92.4% |
| Suppliers | 440/4 | €8,159,807 | €618,602 | -€7.5m | -92.4% |
| Taxes, remuneration and social security | 45 | €241,940 | - | -€241,940 | |
| Taxes | 450/3 | €241,940 | - | -€241,940 | |
| Other amounts payable | 47/48 | €6,000 | €1,385,000 | +€1.4m | +22983.3% |
| Accrued charges and deferred income | 492/3 | €100,375 | €375 | -€100,000 | -99.6% |
| Turnover | 70 | €19,888,925 | €5,054,429 | -€14.8m | -74.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €19,655,433 | €4,991,481 | -€14.7m | -74.6% |
| Other operating charges | 640/8 | €19,655,433 | €4,991,481 | -€14.7m | -74.6% |
| Gross operating margin | 9900 | €19,888,925 | €5,054,429 | -€14.8m | -74.6% |
| Operating profit (loss) | 9901 | €233,492 | €62,948 | -€170,544 | -73.0% |
| Financial charges | 65/66B | €213,541 | €43,295 | -€170,246 | -79.7% |
| Recurring financial charges | 65 | €213,541 | €43,170 | -€170,371 | -79.8% |
| Non-recurring financial charges | 66B | - | €125 | +€125 | |
| Profit (loss) for the period before taxes | 9903 | €19,951 | €19,653 | -€298 | -1.5% |
| Profit (loss) for the period | 9904 | €19,951 | €19,653 | -€298 | -1.5% |
| Profit (loss) for the period to be appropriated | 9905 | €19,951 | €19,653 | -€298 | -1.5% |
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 11 October 2026 via checked.be.