Fechner Invest: 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.
Fechner Invest
Largest movements
- Receivables within one year +€18,336
new in 2025: €18,336
of which Other amounts receivable: +€16,692
- Cash -€9,188
down €9,188 (-14.5%), from €63,534 to €54,346
mainly Receivables within one year (-€18,336) and Tax, wage and social debts (-€14,371)
- Current portion of long-term debt +€22,217
new in 2025: €22,217
- Tax, wage and social debts -€14,371
down €14,371 (-43.8%), from €32,805 to €18,434
- Advances received -€8,067
down €8,067 (-44.4%), from €18,150 to €10,083
- Trade debts +€7,412
up €7,412 (+116%), from €6,390 to €13,802
- Gross operating margin -€50,346
down €50,346 (-40.7%), from €123,759 to €73,413
- Taxes -€29,111
down €29,111 (-92.5%), from €31,470 to €2,359
- Financial income +€5,129
up €5,129 (+335%), from €1,530 to €6,659
- Financial charges -€4,485
down €4,485 (-42.1%), from €10,663 to €6,178
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 | €500,841 | €508,604 | +€7,762 | +1.5% |
| Fixed assets | 21/28 | €388 | €0 | -€388 | -100% |
| Tangible fixed assets | 22/27 | €388 | €0 | -€388 | -100% |
| Plant, machinery and equipment | 23 | €388 | €0 | -€388 | -100% |
| Current assets | 29/58 | €500,453 | €508,604 | +€8,151 | +1.6% |
| Amounts receivable after more than one year | 29 | - | €4,063 | +€4,063 | |
| Other amounts receivable | 291 | - | €4,063 | +€4,063 | |
| Amounts receivable within one year | 40/41 | - | €18,336 | +€18,336 | |
| Trade receivables | 40 | - | €1,644 | +€1,644 | |
| Other amounts receivable | 41 | - | €16,692 | +€16,692 | |
| Current investments | 50/53 | €434,816 | €431,053 | -€3,764 | -0.9% |
| Cash at bank and in hand | 54/58 | €63,534 | €54,346 | -€9,188 | -14.5% |
| Deferred charges and accrued income | 490/1 | €2,103 | €806 | -€1,297 | -61.7% |
| Total equity and liabilities | 10/49 | €500,841 | €508,604 | +€7,762 | +1.5% |
| Equity | 10/15 | €396,152 | €397,505 | +€1,353 | +0.3% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €371,152 | €372,505 | +€1,353 | +0.4% |
| Distributable reserves | 133 | €371,152 | €372,505 | +€1,353 | +0.4% |
| Amounts payable | 17/49 | €104,689 | €111,099 | +€6,409 | +6.1% |
| Amounts payable after more than one year | 17 | €47,345 | €46,562 | -€783 | -1.7% |
| Financial debts | 170/4 | - | €44,966 | +€44,966 | |
| Other amounts payable | 178/9 | €47,345 | €1,597 | -€45,748 | -96.6% |
| Amounts payable within one year | 42/48 | €57,345 | €64,537 | +€7,192 | +12.5% |
| Current portion of amounts payable after more than one year | 42 | - | €22,217 | +€22,217 | |
| Trade debts | 44 | €6,390 | €13,802 | +€7,412 | +116% |
| Suppliers | 440/4 | €6,390 | €13,802 | +€7,412 | +116% |
| Advances received on contracts in progress | 46 | €18,150 | €10,083 | -€8,067 | -44.4% |
| Taxes, remuneration and social security | 45 | €32,805 | €18,434 | -€14,371 | -43.8% |
| Taxes | 450/3 | €32,805 | €18,434 | -€14,371 | -43.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €407 | €388 | -€19 | -4.7% |
| Other operating charges | 640/8 | €960 | €809 | -€151 | -15.7% |
| Non-recurring operating charges | 66A | - | €68,985 | +€68,985 | |
| Gross operating margin | 9900 | €123,759 | €73,413 | -€50,346 | -40.7% |
| Operating profit (loss) | 9901 | €122,392 | €3,231 | -€119,161 | -97.4% |
| Financial income | 75/76B | €1,530 | €6,659 | +€5,129 | +335% |
| Recurring financial income | 75 | €1,530 | €6,659 | +€5,129 | +335% |
| Financial charges | 65/66B | €10,663 | €6,178 | -€4,485 | -42.1% |
| Recurring financial charges | 65 | €10,663 | €6,178 | -€4,485 | -42.1% |
| Profit (loss) for the period before taxes | 9903 | €113,259 | €3,712 | -€109,547 | -96.7% |
| Income taxes | 67/77 | €31,470 | €2,359 | -€29,111 | -92.5% |
| Profit (loss) for the period | 9904 | €81,789 | €1,353 | -€80,436 | -98.3% |
| Profit (loss) for the period to be appropriated | 9905 | €81,789 | €1,353 | -€80,436 | -98.3% |
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 23 October 2026 via checked.be.