FEA: 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.
FEA
Largest movements
- Receivables within one year -€10,634
down €10,634 (-25.5%), from €41,751 to €31,117
of which Trade receivables: -€12,343
- Cash +€1,060
up €1,060 (+53.2%), from €1,992 to €3,052
mainly Receivables within one year (+€10,634) and Short-term financial debts (+€5,593)
- Tangible fixed assets -€695
down €695 (-32.0%), from €2,171 to €1,476
of which Furniture and vehicles: -€567
- Tax, wage and social debts -€14,429
down €14,429 (-88.7%), from €16,266 to €1,837
of which Remuneration and social security: -€12,868
- Trade debts -€7,110
down €7,110 (-83.3%), from €8,536 to €1,426
- Short-term financial debts +€5,593
up €5,593 (+124%), from €4,501 to €10,094
- Debts after one year +€3,955
new in 2025: €3,955
- Profit (loss) carried forward +€945
up €945 (+26.0%), from -€3,632 to -€2,687
- Staff costs -€6,072
no longer reported in 2025 (was €6,072)
- Gross operating margin -€3,142
down €3,142 (-35.6%), from €8,814 to €5,672
- Taxes -€1,510
down €1,510, from €1,432 to -€78
- Financial income -€428
down €428 (-32.4%), from €1,323 to €895
- Other operating charges -€391
down €391 (-44.3%), from €883 to €492
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 | €46,929 | €36,607 | -€10,322 | -22.0% |
| Fixed assets | 21/28 | €2,271 | €1,576 | -€695 | -30.6% |
| Tangible fixed assets | 22/27 | €2,171 | €1,476 | -€695 | -32.0% |
| Plant, machinery and equipment | 23 | €329 | €201 | -€128 | -38.9% |
| Furniture and vehicles | 24 | €1,842 | €1,275 | -€567 | -30.8% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €44,658 | €35,031 | -€9,627 | -21.6% |
| Amounts receivable within one year | 40/41 | €41,751 | €31,117 | -€10,634 | -25.5% |
| Trade receivables | 40 | €24,703 | €12,360 | -€12,343 | -50.0% |
| Other amounts receivable | 41 | €17,048 | €18,757 | +€1,709 | +10.0% |
| Cash at bank and in hand | 54/58 | €1,992 | €3,052 | +€1,060 | +53.2% |
| Deferred charges and accrued income | 490/1 | €915 | €862 | -€53 | -5.8% |
| Total equity and liabilities | 10/49 | €46,929 | €36,607 | -€10,322 | -22.0% |
| Equity | 10/15 | €14,968 | €15,913 | +€945 | +6.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,632 | -€2,687 | +€945 | +26.0% |
| Amounts payable | 17/49 | €31,961 | €20,694 | -€11,267 | -35.3% |
| Amounts payable after more than one year | 17 | - | €3,955 | +€3,955 | |
| Financial debts | 170/4 | - | €3,955 | +€3,955 | |
| Amounts payable within one year | 42/48 | €31,961 | €16,739 | -€15,222 | -47.6% |
| Current portion of amounts payable after more than one year | 42 | €2,658 | €3,382 | +€724 | +27.2% |
| Financial debts | 43 | €4,501 | €10,094 | +€5,593 | +124% |
| Credit institutions | 430/8 | €4,501 | €10,094 | +€5,593 | +124% |
| Trade debts | 44 | €8,536 | €1,426 | -€7,110 | -83.3% |
| Suppliers | 440/4 | €8,536 | €1,426 | -€7,110 | -83.3% |
| Taxes, remuneration and social security | 45 | €16,266 | €1,837 | -€14,429 | -88.7% |
| Taxes | 450/3 | €3,398 | €1,837 | -€1,561 | -45.9% |
| Remuneration and social security | 454/9 | €12,868 | - | -€12,868 | |
| Remuneration, social security and pensions | 62 | €6,072 | - | -€6,072 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €918 | €695 | -€223 | -24.3% |
| Other operating charges | 640/8 | €883 | €492 | -€391 | -44.3% |
| Gross operating margin | 9900 | €8,814 | €5,672 | -€3,142 | -35.6% |
| Operating profit (loss) | 9901 | €941 | €4,485 | +€3,544 | +377% |
| Financial income | 75/76B | €1,323 | €895 | -€428 | -32.4% |
| Recurring financial income | 75 | €1,323 | €895 | -€428 | -32.4% |
| Financial charges | 65/66B | €4,424 | €4,513 | +€89 | +2.0% |
| Recurring financial charges | 65 | €4,424 | €4,513 | +€89 | +2.0% |
| Profit (loss) for the period before taxes | 9903 | -€2,160 | €867 | +€3,027 | |
| Income taxes | 67/77 | €1,432 | -€78 | -€1,510 | |
| Profit (loss) for the period | 9904 | -€3,592 | €945 | +€4,537 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,592 | €945 | +€4,537 |
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.