Feax: 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
Feax
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€763,008
2024 · €689,545+€73,463
Equity
€2.0m
2024 · €2.2m-€136,680
Cash
€224,239
2024 · €133,599+€90,640
Balance sheet total
€3.2m
2024 · €2.6m+€614,217
Largest movements
Assets
- Current investments +€552,754
up €552,754 (+28.7%), from €1.9m to €2.5m
- Cash +€90,640
up €90,640 (+67.8%), from €133,599 to €224,239
mainly Other debts (+€768,554) and Net result for the year (+€763,008)
Equity and liabilities
- Other debts +€768,554
up €768,554 (+266%), from €288,813 to €1.1m
- Reserves -€136,680
down €136,680 (-6.3%), from €2.2m to €2.0m
Income statement
- Financial income -€188,308
down €188,308 (-65.3%), from €288,345 to €100,037
- Gross operating margin +€178,510
up €178,510 (+21.3%), from €838,265 to €1.0m
- Taxes -€89,761
down €89,761 (-27.7%), from €324,371 to €234,610
- Financial charges +€11,655
up €11,655 (+196%), from €5,935 to €17,590
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
€689,545
Gross operating margin
+€178,510
Staff costs
-€627
Depreciation
+€4,055
Other operating charges
+€1,728
Financial income
-€188,308
Financial charges
-€11,655
Taxes
+€89,761
Result 2025
€763,008
raises the resultlowers the result
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
+€1.5m
Investment
-€552,754
Financing
-€900,108
Cash 2024
€133,599
From operations (derived)
+€1.5m
Net result for the year
+€763,008
Depreciation
+€38,402
Receivables after one year
+€3,568
Receivables within one year
+€10,436
Deferred charges and accrued income
-€23,229
Trade debts
+€5,490
Tax, wage and social debts
-€29,034
Other debts
+€768,554
Accrued charges and deferred income
+€6,306
Investment (derived)
-€552,754
Current investments
-€552,754
Financing
-€900,108
Short-term financial debts
-€420
Contributions, distributions and other
-€899,688
Cash 2025
€224,239
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,618,729 | €3,232,946 | +€614,217 | +23.5% |
| Fixed assets | 21/28 | €252,901 | €214,499 | -€38,402 | -15.2% |
| Intangible fixed assets | 21 | €29,549 | €20,654 | -€8,895 | -30.1% |
| Tangible fixed assets | 22/27 | €223,351 | €193,844 | -€29,507 | -13.2% |
| Land and buildings | 22 | €192,116 | €170,920 | -€21,196 | -11.0% |
| Plant, machinery and equipment | 23 | €21,484 | €17,818 | -€3,666 | -17.1% |
| Furniture and vehicles | 24 | €9,751 | €5,106 | -€4,645 | -47.6% |
| Current assets | 29/58 | €2,365,828 | €3,018,447 | +€652,619 | +27.6% |
| Amounts receivable after more than one year | 29 | €228,568 | €225,000 | -€3,568 | -1.6% |
| Other amounts receivable | 291 | €228,568 | €225,000 | -€3,568 | -1.6% |
| Amounts receivable within one year | 40/41 | €65,837 | €55,401 | -€10,436 | -15.9% |
| Trade receivables | 40 | €64,877 | €55,386 | -€9,492 | -14.6% |
| Other amounts receivable | 41 | €959 | €15 | -€944 | -98.4% |
| Current investments | 50/53 | €1,926,926 | €2,479,680 | +€552,754 | +28.7% |
| Cash at bank and in hand | 54/58 | €133,599 | €224,239 | +€90,640 | +67.8% |
| Deferred charges and accrued income | 490/1 | €10,898 | €34,127 | +€23,229 | +213% |
| Total equity and liabilities | 10/49 | €2,618,729 | €3,232,946 | +€614,217 | +23.5% |
| Equity | 10/15 | €2,172,571 | €2,035,891 | -€136,680 | -6.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €2,166,371 | €2,029,691 | -€136,680 | -6.3% |
| Distributable reserves | 133 | €2,166,371 | €2,029,691 | -€136,680 | -6.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €446,158 | €1,197,055 | +€750,896 | +168% |
| Amounts payable within one year | 42/48 | €446,158 | €1,190,748 | +€744,590 | +167% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €455 | €36 | -€420 | -92.2% |
| Credit institutions | 430/8 | €455 | €36 | -€420 | -92.2% |
| Trade debts | 44 | €9,985 | €15,475 | +€5,490 | +55.0% |
| Suppliers | 440/4 | €9,985 | €15,475 | +€5,490 | +55.0% |
| Taxes, remuneration and social security | 45 | €146,905 | €117,871 | -€29,034 | -19.8% |
| Taxes | 450/3 | €140,100 | €110,842 | -€29,258 | -20.9% |
| Remuneration and social security | 454/9 | €6,805 | €7,029 | +€224 | +3.3% |
| Other amounts payable | 47/48 | €288,813 | €1,057,367 | +€768,554 | +266% |
| Accrued charges and deferred income | 492/3 | - | €6,306 | +€6,306 | |
| Non-recurring operating income | 76A | €13,157 | €0 | -€13,157 | -100% |
| Remuneration, social security and pensions | 62 | €59,852 | €60,479 | +€627 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,457 | €38,402 | -€4,055 | -9.5% |
| Other operating charges | 640/8 | €4,451 | €2,723 | -€1,728 | -38.8% |
| Gross operating margin | 9900 | €838,265 | €1,016,775 | +€178,510 | +21.3% |
| Operating profit (loss) | 9901 | €731,505 | €915,171 | +€183,666 | +25.1% |
| Financial income | 75/76B | €288,345 | €100,037 | -€188,308 | -65.3% |
| Recurring financial income | 75 | €288,345 | €100,037 | -€188,308 | -65.3% |
| Financial charges | 65/66B | €5,935 | €17,590 | +€11,655 | +196% |
| Recurring financial charges | 65 | €5,935 | €17,590 | +€11,655 | +196% |
| Profit (loss) for the period before taxes | 9903 | €1,013,915 | €997,618 | -€16,297 | -1.6% |
| Income taxes | 67/77 | €324,371 | €234,610 | -€89,761 | -27.7% |
| Profit (loss) for the period | 9904 | €689,545 | €763,008 | +€73,463 | +10.7% |
| Profit (loss) for the period to be appropriated | 9905 | €689,545 | €763,008 | +€73,463 | +10.7% |
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 22 October 2026 via checked.be.