FED Management: 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.
FED Management
Largest movements
- Cash +€12,779
up €12,779 (+292.5%), from €4,369 to €17,148
mainly Net result for the year (+€14,680) and Receivables within one year (+€4,817)
- Receivables within one year -€4,817
down €4,817 (-33.5%), from €14,386 to €9,569
- Tangible fixed assets +€2,589
new in 2025: €2,589
of which Furniture and vehicles: +€1,478
- Deferred charges and accrued income -€638
down €638 (-100.0%), from €638 to €0
- Profit (loss) carried forward +€14,680
up €14,680 (+337.0%), from €4,356 to €19,036
- Other debts -€5,500
down €5,500 (-100.0%), from €5,500 to €0
- Tax, wage and social debts +€1,588
up €1,588 (+32.9%), from €4,824 to €6,412
- Trade debts -€855
down €855 (-38.6%), from €2,214 to €1,358
- Gross operating margin +€13,215
up €13,215 (+197.6%), from €6,689 to €19,904
- Taxes +€3,209
up €3,209 (+241.3%), from €1,330 to €4,539
- Other operating charges -€408
down €408 (-43.8%), from €932 to €524
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 | €19,393 | €29,306 | +€9,913 | +51.1% |
| Fixed assets | 21/28 | - | €2,589 | +€2,589 | |
| Tangible fixed assets | 22/27 | - | €2,589 | +€2,589 | |
| Plant, machinery and equipment | 23 | - | €1,111 | +€1,111 | |
| Furniture and vehicles | 24 | - | €1,478 | +€1,478 | |
| Current assets | 29/58 | €19,393 | €26,717 | +€7,323 | +37.8% |
| Amounts receivable within one year | 40/41 | €14,386 | €9,569 | -€4,817 | -33.5% |
| Trade receivables | 40 | €14,386 | €9,569 | -€4,817 | -33.5% |
| Cash at bank and in hand | 54/58 | €4,369 | €17,148 | +€12,779 | +292.5% |
| Deferred charges and accrued income | 490/1 | €638 | €0 | -€638 | -100.0% |
| Total equity and liabilities | 10/49 | €19,393 | €29,306 | +€9,913 | +51.1% |
| Equity | 10/15 | €6,856 | €21,536 | +€14,680 | +214.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,356 | €19,036 | +€14,680 | +337.0% |
| Amounts payable | 17/49 | €12,538 | €7,770 | -€4,768 | -38.0% |
| Amounts payable within one year | 42/48 | €12,538 | €7,770 | -€4,768 | -38.0% |
| Trade debts | 44 | €2,214 | €1,358 | -€855 | -38.6% |
| Suppliers | 440/4 | €2,214 | €1,358 | -€855 | -38.6% |
| Taxes, remuneration and social security | 45 | €4,824 | €6,412 | +€1,588 | +32.9% |
| Taxes | 450/3 | €4,824 | €6,412 | +€1,588 | +32.9% |
| Other amounts payable | 47/48 | €5,500 | €0 | -€5,500 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €98 | +€98 | |
| Other operating charges | 640/8 | €932 | €524 | -€408 | -43.8% |
| Gross operating margin | 9900 | €6,689 | €19,904 | +€13,215 | +197.6% |
| Operating profit (loss) | 9901 | €5,757 | €19,282 | +€13,525 | +234.9% |
| Financial charges | 65/66B | €71 | €63 | -€8 | -11.8% |
| Recurring financial charges | 65 | €71 | €63 | -€8 | -11.8% |
| Profit (loss) for the period before taxes | 9903 | €5,686 | €19,219 | +€13,533 | +238.0% |
| Income taxes | 67/77 | €1,330 | €4,539 | +€3,209 | +241.3% |
| Profit (loss) for the period | 9904 | €4,356 | €14,680 | +€10,324 | +237.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,356 | €14,680 | +€10,324 | +237.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.