FEBEL: 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.
FEBEL
Largest movements
- Receivables after one year -€43,250
no longer reported in 2025 (was €43,250)
- Receivables within one year +€16,676
up €16,676 (+25.1%), from €66,537 to €83,213
of which Other amounts receivable: +€21,771
- Tangible fixed assets -€11,552
down €11,552 (-36.8%), from €31,350 to €19,798
- Cash +€3,118
up €3,118 (+56.0%), from €5,568 to €8,686
mainly Receivables after one year (+€43,250) and Depreciation (+€11,552)
- Reserves -€22,826
down €22,826 (-72.3%), from €31,572 to €8,746
of which Distributable reserves: -€22,826
- Debts after one year -€17,824
no longer reported in 2025 (was €17,824)
- Other debts +€10,535
up €10,535 (+32.2%), from €32,671 to €43,207
- Tax, wage and social debts -€4,081
down €4,081 (-28.1%), from €14,550 to €10,468
of which Remuneration and social security: -€2,935
- Turnover -€81,760
no longer reported in 2025 (was €81,760)
- Purchases and services -€68,735
no longer reported in 2025 (was €68,735)
- Gross operating margin +€12,385
up €12,385 (+95.1%), from €13,025 to €25,410
- Other operating charges +€5,907
up €5,907 (+284.5%), from €2,076 to €7,983
- Taxes +€4,435
up €4,435 (+55098.0%), from €8 to €4,443
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 | €148,187 | €113,980 | -€34,207 | -23.1% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €31,550 | €19,998 | -€11,552 | -36.6% |
| Tangible fixed assets | 22/27 | €31,350 | €19,798 | -€11,552 | -36.8% |
| Land and buildings | 22 | €18,578 | €13,190 | -€5,388 | -29.0% |
| Plant, machinery and equipment | 23 | €3,148 | €2,679 | -€470 | -14.9% |
| Furniture and vehicles | 24 | €9,611 | €3,930 | -€5,682 | -59.1% |
| Other tangible fixed assets | 26 | €12 | - | -€12 | |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €116,636 | €93,982 | -€22,655 | -19.4% |
| Amounts receivable after more than one year | 29 | €43,250 | - | -€43,250 | |
| Other amounts receivable | 291 | €43,250 | - | -€43,250 | |
| Amounts receivable within one year | 40/41 | €66,537 | €83,213 | +€16,676 | +25.1% |
| Trade receivables | 40 | €54,711 | €49,615 | -€5,096 | -9.3% |
| Other amounts receivable | 41 | €11,827 | €33,598 | +€21,771 | +184.1% |
| Cash at bank and in hand | 54/58 | €5,568 | €8,686 | +€3,118 | +56.0% |
| Deferred charges and accrued income | 490/1 | €1,281 | €2,082 | +€801 | +62.5% |
| Total equity and liabilities | 10/49 | €148,187 | €113,980 | -€34,207 | -23.1% |
| Equity | 10/15 | €83,141 | €59,933 | -€23,208 | -27.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Outside capital | 11 | €12,400 | - | -€12,400 | |
| Other | 1109/19 | €12,400 | - | -€12,400 | |
| Reserves | 13 | €31,572 | €8,746 | -€22,826 | -72.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,886 | €6,886 | = | 0.0% |
| Distributable reserves | 133 | €22,826 | - | -€22,826 | |
| Profit (loss) carried forward | 14 | €39,169 | €38,787 | -€382 | -1.0% |
| Amounts payable | 17/49 | €65,045 | €54,047 | -€10,999 | -16.9% |
| Amounts payable after more than one year | 17 | €17,824 | - | -€17,824 | |
| Financial debts | 170/4 | €17,824 | - | -€17,824 | |
| Amounts payable within one year | 42/48 | €47,221 | €53,675 | +€6,454 | +13.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €14,550 | €10,468 | -€4,081 | -28.1% |
| Taxes | 450/3 | €11,615 | €10,468 | -€1,147 | -9.9% |
| Remuneration and social security | 454/9 | €2,935 | - | -€2,935 | |
| Other amounts payable | 47/48 | €32,671 | €43,207 | +€10,535 | +32.2% |
| Accrued charges and deferred income | 492/3 | - | €371 | +€371 | |
| Turnover | 70 | €81,760 | - | -€81,760 | |
| Goods, raw materials, services and sundry goods | 60/61 | €68,735 | - | -€68,735 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,668 | €11,552 | -€116 | -1.0% |
| Other operating charges | 640/8 | €2,076 | €7,983 | +€5,907 | +284.5% |
| Gross operating margin | 9900 | €13,025 | €25,410 | +€12,385 | +95.1% |
| Operating profit (loss) | 9901 | -€719 | €5,875 | +€6,594 | |
| Financial income | 75/76B | €1,322 | €110 | -€1,212 | -91.7% |
| Recurring financial income | 75 | €1,322 | €110 | -€1,212 | -91.7% |
| Financial charges | 65/66B | €229 | €1,064 | +€835 | +365.0% |
| Recurring financial charges | 65 | €229 | €1,064 | +€835 | +365.0% |
| Profit (loss) for the period before taxes | 9903 | €374 | €4,920 | +€4,546 | +1214.1% |
| Income taxes | 67/77 | €8 | €4,443 | +€4,435 | +55098.0% |
| Profit (loss) for the period | 9904 | €366 | €477 | +€111 | +30.2% |
| Profit (loss) for the period to be appropriated | 9905 | €366 | €477 | +€111 | +30.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.