FEADON: 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.
What changed
FEADON
NACE 73.200, Market research and public opinion polling
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1,218
2024 · €144,578-€143,360
Equity
€5.8m
2024 · €5.8m+€1,218
Cash
€185,910
2024 · €73,228+€112,681
Balance sheet total
€11.5m
2024 · €10.4m+€1.2m
Largest movements
Assets
- Tangible fixed assets +€1.5m
up €1.5m (+17.0%), from €8.7m to €10.2m
of which Land and buildings: +€1.5m
- Current investments -€413,307
down €413,307 (-26.0%), from €1.6m to €1.2m
Equity and liabilities
- Debts after one year +€1.2m
up €1.2m (+27.1%), from €4.3m to €5.4m
Income statement
- Financial income -€116,108
down €116,108 (-93.9%), from €123,600 to €7,492
- Financial charges +€29,924
up €29,924 (+64.5%), from €46,369 to €76,293
- Taxes -€11,067
down €11,067 (-95.0%), from €11,654 to €587
- Depreciation +€8,499
up €8,499 (+2.7%), from €316,372 to €324,872
- Other operating charges +€4,901
up €4,901 (+10.6%), from €46,101 to €51,002
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.
Result 2024
€144,578
Gross operating margin
+€2,003
Depreciation
-€8,499
Other operating charges
-€4,901
Other operating items
+€3,002
Financial income
-€116,108
Financial charges
-€29,924
Taxes
+€11,067
Result 2025
€1,218
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€341,480
Investment
-€1.4m
Financing
+€1.2m
Cash 2024
€73,228
From operations (derived)
+€341,480
Net result for the year
+€1,218
Depreciation
+€324,872
Smaller working-capital items
-€3,455
Trade debts
-€7,222
Other debts
+€21,462
Accrued charges and deferred income
+€4,606
Investment (derived)
-€1.4m
Investment in fixed assets (net)
-€1.8m
Current investments
+€413,307
Financing
+€1.2m
Debts after one year
+€1.2m
Current portion of long-term debt
-€2,657
Cash 2025
€185,910
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,351,797 | €11,528,640 | +€1.2m | +11.4% |
| Fixed assets | 21/28 | €8,675,625 | €10,152,251 | +€1.5m | +17.0% |
| Tangible fixed assets | 22/27 | €8,675,625 | €10,152,251 | +€1.5m | +17.0% |
| Land and buildings | 22 | €8,674,811 | €10,149,672 | +€1.5m | +17.0% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €814 | €2,579 | +€1,765 | +217% |
| Current assets | 29/58 | €1,676,172 | €1,376,389 | -€299,783 | -17.9% |
| Amounts receivable within one year | 40/41 | €5,539 | €6,032 | +€493 | +8.9% |
| Trade receivables | 40 | €4,499 | €4,657 | +€158 | +3.5% |
| Other amounts receivable | 41 | €1,040 | €1,375 | +€335 | +32.2% |
| Current investments | 50/53 | €1,592,549 | €1,179,243 | -€413,307 | -26.0% |
| Cash at bank and in hand | 54/58 | €73,228 | €185,910 | +€112,681 | +154% |
| Deferred charges and accrued income | 490/1 | €4,854 | €5,204 | +€350 | +7.2% |
| Total equity and liabilities | 10/49 | €10,351,797 | €11,528,640 | +€1.2m | +11.4% |
| Equity | 10/15 | €5,818,396 | €5,819,614 | +€1,218 | 0.0% |
| Contributions | 10/11 | €2,125,000 | €2,125,000 | = | 0.0% |
| Capital | 10 | €2,125,000 | €2,125,000 | = | 0.0% |
| Issued capital | 100 | €2,125,000 | €2,125,000 | = | 0.0% |
| Reserves | 13 | €1,392,500 | €1,392,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €212,500 | €212,500 | = | 0.0% |
| Legal reserve | 130 | €212,500 | €212,500 | = | 0.0% |
| Distributable reserves | 133 | €1,180,000 | €1,180,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,300,896 | €2,302,114 | +€1,218 | +0.1% |
| Amounts payable | 17/49 | €4,533,401 | €5,709,026 | +€1.2m | +25.9% |
| Amounts payable after more than one year | 17 | €4,280,818 | €5,442,866 | +€1.2m | +27.1% |
| Financial debts | 170/4 | €4,280,818 | €5,442,866 | +€1.2m | +27.1% |
| Amounts payable within one year | 42/48 | €237,625 | €246,595 | +€8,970 | +3.8% |
| Current portion of amounts payable after more than one year | 42 | €42,113 | €39,457 | -€2,657 | -6.3% |
| Trade debts | 44 | €7,408 | €185 | -€7,222 | -97.5% |
| Suppliers | 440/4 | €7,408 | €185 | -€7,222 | -97.5% |
| Taxes, remuneration and social security | 45 | €6,777 | €4,165 | -€2,612 | -38.5% |
| Taxes | 450/3 | €6,777 | €4,165 | -€2,612 | -38.5% |
| Other amounts payable | 47/48 | €181,327 | €202,788 | +€21,462 | +11.8% |
| Accrued charges and deferred income | 492/3 | €14,959 | €19,565 | +€4,606 | +30.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €316,372 | €324,872 | +€8,499 | +2.7% |
| Other operating charges | 640/8 | €46,101 | €51,002 | +€4,901 | +10.6% |
| Non-recurring operating charges | 66A | €3,002 | €0 | -€3,002 | -100% |
| Gross operating margin | 9900 | €444,476 | €446,480 | +€2,003 | +0.5% |
| Operating profit (loss) | 9901 | €79,002 | €70,606 | -€8,395 | -10.6% |
| Financial income | 75/76B | €123,600 | €7,492 | -€116,108 | -93.9% |
| Recurring financial income | 75 | €123,600 | €7,492 | -€116,108 | -93.9% |
| Financial charges | 65/66B | €46,369 | €76,293 | +€29,924 | +64.5% |
| Recurring financial charges | 65 | €46,369 | €76,293 | +€29,924 | +64.5% |
| Profit (loss) for the period before taxes | 9903 | €156,232 | €1,805 | -€154,427 | -98.8% |
| Income taxes | 67/77 | €11,654 | €587 | -€11,067 | -95.0% |
| Profit (loss) for the period | 9904 | €144,578 | €1,218 | -€143,360 | -99.2% |
| Profit (loss) for the period to be appropriated | 9905 | €144,578 | €1,218 | -€143,360 | -99.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.