FEBAM: 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.
FEBAM
Largest movements
- Receivables within one year +€67,485
up €67,485 (+172%), from €39,245 to €106,730
of which Trade receivables: +€102,850
- Deferred charges and accrued income -€46,555
down €46,555 (-97.7%), from €47,647 to €1,092
- Cash +€34,202
up €34,202 (+2,027%), from €1,688 to €35,890
mainly Net result for the year (+€85,813) and Deferred charges and accrued income (+€46,555)
- Tangible fixed assets -€11,759
down €11,759 (-23.1%), from €50,945 to €39,186
- Other debts +€37,768
up €37,768 (+49.0%), from €77,088 to €114,856
- Tax, wage and social debts +€19,604
up €19,604 (+2,475%), from €792 to €20,396
- Debts after one year -€13,683
down €13,683 (-43.2%), from €31,708 to €18,026
- Reserves -€9,777
down €9,777 (-100%), from €9,777 to €0
- Short-term financial debts +€8,799
new in 2025: €8,799
- Gross operating margin +€97,877
up €97,877 (+378%), from €25,883 to €123,759
- Taxes +€19,826
up €19,826 (+523%), from €3,793 to €23,620
- Depreciation +€2,988
up €2,988 (+32.9%), from €9,072 to €12,060
- Financial charges -€2,433
down €2,433 (-53.3%), from €4,565 to €2,132
- Financial income -€1,742
down €1,742 (-91.9%), from €1,896 to €154
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 | €139,525 | €182,898 | +€43,373 | +31.1% |
| Fixed assets | 21/28 | €50,945 | €39,186 | -€11,759 | -23.1% |
| Tangible fixed assets | 22/27 | €50,945 | €39,186 | -€11,759 | -23.1% |
| Furniture and vehicles | 24 | €50,945 | €39,186 | -€11,759 | -23.1% |
| Current assets | 29/58 | €88,580 | €143,712 | +€55,132 | +62.2% |
| Amounts receivable within one year | 40/41 | €39,245 | €106,730 | +€67,485 | +172% |
| Trade receivables | 40 | €0 | €102,850 | +€102,850 | |
| Other amounts receivable | 41 | €39,245 | €3,880 | -€35,365 | -90.1% |
| Cash at bank and in hand | 54/58 | €1,688 | €35,890 | +€34,202 | +2,027% |
| Deferred charges and accrued income | 490/1 | €47,647 | €1,092 | -€46,555 | -97.7% |
| Total equity and liabilities | 10/49 | €139,525 | €182,898 | +€43,373 | +31.1% |
| Equity | 10/15 | €14,777 | €5,000 | -€9,777 | -66.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €9,777 | €0 | -€9,777 | -100% |
| Distributable reserves | 133 | €9,777 | €0 | -€9,777 | -100% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €124,748 | €177,898 | +€53,150 | +42.6% |
| Amounts payable after more than one year | 17 | €31,708 | €18,026 | -€13,683 | -43.2% |
| Financial debts | 170/4 | €31,708 | €18,026 | -€13,683 | -43.2% |
| Amounts payable within one year | 42/48 | €91,153 | €157,846 | +€66,693 | +73.2% |
| Current portion of amounts payable after more than one year | 42 | €13,059 | €13,683 | +€624 | +4.8% |
| Financial debts | 43 | - | €8,799 | +€8,799 | |
| Credit institutions | 430/8 | - | €8,799 | +€8,799 | |
| Trade debts | 44 | €214 | €113 | -€101 | -47.4% |
| Suppliers | 440/4 | €214 | €113 | -€101 | -47.4% |
| Taxes, remuneration and social security | 45 | €792 | €20,396 | +€19,604 | +2,475% |
| Taxes | 450/3 | €792 | €20,396 | +€19,604 | +2,475% |
| Other amounts payable | 47/48 | €77,088 | €114,856 | +€37,768 | +49.0% |
| Accrued charges and deferred income | 492/3 | €1,887 | €2,026 | +€140 | +7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,072 | €12,060 | +€2,988 | +32.9% |
| Other operating charges | 640/8 | €252 | €289 | +€37 | +14.9% |
| Non-recurring operating charges | 66A | €319 | €0 | -€319 | -100% |
| Gross operating margin | 9900 | €25,883 | €123,759 | +€97,877 | +378% |
| Operating profit (loss) | 9901 | €16,240 | €111,411 | +€95,171 | +586% |
| Financial income | 75/76B | €1,896 | €154 | -€1,742 | -91.9% |
| Recurring financial income | 75 | €1,896 | €154 | -€1,742 | -91.9% |
| Financial charges | 65/66B | €4,565 | €2,132 | -€2,433 | -53.3% |
| Recurring financial charges | 65 | €4,565 | €2,132 | -€2,433 | -53.3% |
| Profit (loss) for the period before taxes | 9903 | €13,571 | €109,433 | +€95,862 | +706% |
| Income taxes | 67/77 | €3,793 | €23,620 | +€19,826 | +523% |
| Profit (loss) for the period | 9904 | €9,777 | €85,813 | +€76,036 | +778% |
| Profit (loss) for the period to be appropriated | 9905 | €9,777 | €85,813 | +€76,036 | +778% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.