Fécel: 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.
Fécel
Largest movements
- Receivables within one year +€10,134
up €10,134 (+6,701%), from €151 to €10,285
- Cash +€7,643
up €7,643 (+14.6%), from €52,275 to €59,919
mainly Net result for the year (+€22,633) and Other debts (+€2,192)
- Tangible fixed assets +€5,113
up €5,113 (+299%), from €1,711 to €6,824
- Reserves +€22,600
up €22,600 (+81.0%), from €27,900 to €50,500
- Other debts +€2,192
up €2,192 (+47.2%), from €4,644 to €6,836
- Trade debts -€1,432
down €1,432 (-26.9%), from €5,320 to €3,887
- Tax, wage and social debts -€1,064
down €1,064 (-6.8%), from €15,643 to €14,579
of which Taxes: -€1,064
- Gross operating margin -€5,448
down €5,448 (-15.0%), from €36,292 to €30,844
- Taxes -€1,213
down €1,213 (-16.4%), from €7,388 to €6,175
- Other operating charges +€447
up €447 (+116%), from €384 to €831
- Depreciation +€419
up €419 (+82.4%), from €508 to €926
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 | €56,521 | €78,850 | +€22,329 | +39.5% |
| Formation expenses | 20 | €2,384 | €1,823 | -€561 | -23.5% |
| Fixed assets | 21/28 | €1,711 | €6,824 | +€5,113 | +299% |
| Tangible fixed assets | 22/27 | €1,711 | €6,824 | +€5,113 | +299% |
| Furniture and vehicles | 24 | €1,711 | €6,824 | +€5,113 | +299% |
| Current assets | 29/58 | €52,427 | €70,204 | +€17,777 | +33.9% |
| Amounts receivable within one year | 40/41 | €151 | €10,285 | +€10,134 | +6,701% |
| Trade receivables | 40 | €151 | €10,285 | +€10,134 | +6,701% |
| Cash at bank and in hand | 54/58 | €52,275 | €59,919 | +€7,643 | +14.6% |
| Total equity and liabilities | 10/49 | €56,521 | €78,850 | +€22,329 | +39.5% |
| Equity | 10/15 | €30,915 | €53,548 | +€22,633 | +73.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €27,900 | €50,500 | +€22,600 | +81.0% |
| Distributable reserves | 133 | €27,900 | €50,500 | +€22,600 | +81.0% |
| Profit (loss) carried forward | 14 | €15 | €48 | +€33 | +224% |
| Amounts payable | 17/49 | €25,606 | €25,302 | -€304 | -1.2% |
| Amounts payable within one year | 42/48 | €25,606 | €25,302 | -€304 | -1.2% |
| Trade debts | 44 | €5,320 | €3,887 | -€1,432 | -26.9% |
| Suppliers | 440/4 | €5,320 | €3,887 | -€1,432 | -26.9% |
| Taxes, remuneration and social security | 45 | €15,643 | €14,579 | -€1,064 | -6.8% |
| Taxes | 450/3 | €13,343 | €12,279 | -€1,064 | -8.0% |
| Remuneration and social security | 454/9 | €2,300 | €2,300 | = | 0.0% |
| Other amounts payable | 47/48 | €4,644 | €6,836 | +€2,192 | +47.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €508 | €926 | +€419 | +82.4% |
| Other operating charges | 640/8 | €384 | €831 | +€447 | +116% |
| Gross operating margin | 9900 | €36,292 | €30,844 | -€5,448 | -15.0% |
| Operating profit (loss) | 9901 | €35,400 | €29,086 | -€6,314 | -17.8% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €97 | €277 | +€180 | +185% |
| Recurring financial charges | 65 | €97 | €277 | +€180 | +185% |
| Profit (loss) for the period before taxes | 9903 | €35,303 | €28,809 | -€6,494 | -18.4% |
| Income taxes | 67/77 | €7,388 | €6,175 | -€1,213 | -16.4% |
| Profit (loss) for the period | 9904 | €27,915 | €22,633 | -€5,282 | -18.9% |
| Profit (loss) for the period to be appropriated | 9905 | €27,915 | €22,633 | -€5,282 | -18.9% |
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 14 October 2026 via checked.be.