Feat First Management: 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.
Feat First Management
Largest movements
- Cash +€88,089
up €88,089 (+96.8%), from €90,989 to €179,078
mainly Advances received (+€131,019) and Net result for the year (+€90,574)
- Receivables within one year +€50,194
up €50,194 (+90.7%), from €55,324 to €105,518
of which Trade receivables: +€50,847
- Tangible fixed assets -€10,528
down €10,528 (-42.2%), from €24,953 to €14,424
- Advances received +€131,019
new in 2025: €131,019
- Debts after one year -€4,945
down €4,945 (-29.5%), from €16,788 to €11,843
- Trade debts +€4,162
up €4,162 (+98.4%), from €4,228 to €8,390
- Gross operating margin -€38,670
down €38,670 (-22.6%), from €171,245 to €132,575
- Taxes -€7,973
down €7,973 (-23.0%), from €34,697 to €26,724
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 | €171,564 | €300,019 | +€128,456 | +74.9% |
| Fixed assets | 21/28 | €24,953 | €14,424 | -€10,528 | -42.2% |
| Tangible fixed assets | 22/27 | €24,953 | €14,424 | -€10,528 | -42.2% |
| Furniture and vehicles | 24 | €24,953 | €14,424 | -€10,528 | -42.2% |
| Current assets | 29/58 | €146,611 | €285,595 | +€138,984 | +94.8% |
| Amounts receivable within one year | 40/41 | €55,324 | €105,518 | +€50,194 | +90.7% |
| Trade receivables | 40 | €50,262 | €101,109 | +€50,847 | +101.2% |
| Other amounts receivable | 41 | €5,062 | €4,409 | -€653 | -12.9% |
| Cash at bank and in hand | 54/58 | €90,989 | €179,078 | +€88,089 | +96.8% |
| Deferred charges and accrued income | 490/1 | €298 | €999 | +€701 | +235.4% |
| Total equity and liabilities | 10/49 | €171,564 | €300,019 | +€128,456 | +74.9% |
| Equity | 10/15 | €143,229 | €143,803 | +€574 | +0.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €124,679 | €125,253 | +€574 | +0.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €122,819 | €123,393 | +€574 | +0.5% |
| Amounts payable | 17/49 | €28,335 | €156,216 | +€127,881 | +451.3% |
| Amounts payable after more than one year | 17 | €16,788 | €11,843 | -€4,945 | -29.5% |
| Financial debts | 170/4 | €16,788 | €11,843 | -€4,945 | -29.5% |
| Amounts payable within one year | 42/48 | €11,547 | €144,373 | +€132,826 | +1150.4% |
| Current portion of amounts payable after more than one year | 42 | €4,760 | €4,945 | +€186 | +3.9% |
| Trade debts | 44 | €4,228 | €8,390 | +€4,162 | +98.4% |
| Suppliers | 440/4 | €4,228 | €8,390 | +€4,162 | +98.4% |
| Advances received on contracts in progress | 46 | - | €131,019 | +€131,019 | |
| Taxes, remuneration and social security | 45 | €2,559 | €19 | -€2,540 | -99.2% |
| Taxes | 450/3 | - | €19 | +€19 | |
| Remuneration and social security | 454/9 | €2,559 | - | -€2,559 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,195 | €11,757 | +€1,563 | +15.3% |
| Other operating charges | 640/8 | €1,028 | €894 | -€134 | -13.0% |
| Gross operating margin | 9900 | €171,245 | €132,575 | -€38,670 | -22.6% |
| Operating profit (loss) | 9901 | €160,022 | €119,923 | -€40,099 | -25.1% |
| Financial income | 75/76B | €680 | €57 | -€624 | -91.7% |
| Recurring financial income | 75 | €680 | €57 | -€624 | -91.7% |
| Financial charges | 65/66B | €4,328 | €2,681 | -€1,647 | -38.1% |
| Recurring financial charges | 65 | €4,328 | €2,681 | -€1,647 | -38.1% |
| Profit (loss) for the period before taxes | 9903 | €156,374 | €117,299 | -€39,075 | -25.0% |
| Income taxes | 67/77 | €34,697 | €26,724 | -€7,973 | -23.0% |
| Profit (loss) for the period | 9904 | €121,677 | €90,574 | -€31,103 | -25.6% |
| Profit (loss) for the period to be appropriated | 9905 | €121,677 | €90,574 | -€31,103 | -25.6% |
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 8 October 2026 via checked.be.