FEDELUC: 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.
FEDELUC
Largest movements
- Cash -€29,968
down €29,968 (-18.3%), from €163,639 to €133,671
mainly Trade debts (-€43,516) and Other debts (-€9,817)
- Receivables within one year -€19,869
down €19,869 (-76.6%), from €25,925 to €6,056
of which Trade receivables: -€23,195
- Stocks and contracts +€5,503
up €5,503 (+3.3%), from €166,186 to €171,689
- Trade debts -€43,516
down €43,516 (-97.8%), from €44,482 to €966
- Profit (loss) carried forward +€16,764
up €16,764 (+7.2%), from -€231,738 to -€214,974
- Other debts -€9,817
down €9,817 (-4.8%), from €205,113 to €195,296
- Tax, wage and social debts -€9,219
down €9,219 (-100.0%), from €9,219 to €0
- Gross operating margin +€12,294
up €12,294 (+226.1%), from €5,438 to €17,732
- Depreciation -€401
down €401 (-8.0%), from €5,021 to €4,621
- Other operating charges -€187
down €187 (-9.8%), from €1,912 to €1,725
- Financial charges +€183
up €183 (+58.2%), from €314 to €496
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 | €372,031 | €328,291 | -€43,740 | -11.8% |
| Fixed assets | 21/28 | €15,127 | €15,659 | +€532 | +3.5% |
| Tangible fixed assets | 22/27 | €10,927 | €11,459 | +€532 | +4.9% |
| Land and buildings | 22 | €10,507 | €7,005 | -€3,502 | -33.3% |
| Furniture and vehicles | 24 | €420 | €4,454 | +€4,034 | +960.4% |
| Financial fixed assets | 28 | €4,200 | €4,200 | = | 0.0% |
| Current assets | 29/58 | €356,904 | €312,632 | -€44,272 | -12.4% |
| Stocks and contracts in progress | 3 | €166,186 | €171,689 | +€5,503 | +3.3% |
| Stocks | 30/36 | €166,186 | €171,689 | +€5,503 | +3.3% |
| Amounts receivable within one year | 40/41 | €25,925 | €6,056 | -€19,869 | -76.6% |
| Trade receivables | 40 | €25,925 | €2,729 | -€23,195 | -89.5% |
| Other amounts receivable | 41 | - | €3,327 | +€3,327 | |
| Cash at bank and in hand | 54/58 | €163,639 | €133,671 | -€29,968 | -18.3% |
| Deferred charges and accrued income | 490/1 | €1,154 | €1,215 | +€62 | +5.4% |
| Total equity and liabilities | 10/49 | €372,031 | €328,291 | -€43,740 | -11.8% |
| Equity | 10/15 | €113,217 | €129,981 | +€16,764 | +14.8% |
| Contributions | 10/11 | €318,600 | €318,600 | = | 0.0% |
| Reserves | 13 | €26,356 | €26,356 | = | 0.0% |
| Distributable reserves | 133 | €26,356 | €26,356 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€231,738 | -€214,974 | +€16,764 | +7.2% |
| Amounts payable | 17/49 | €258,813 | €198,310 | -€60,504 | -23.4% |
| Amounts payable within one year | 42/48 | €258,813 | €198,310 | -€60,504 | -23.4% |
| Trade debts | 44 | €44,482 | €966 | -€43,516 | -97.8% |
| Suppliers | 440/4 | €44,482 | €966 | -€43,516 | -97.8% |
| Advances received on contracts in progress | 46 | - | €2,048 | +€2,048 | |
| Taxes, remuneration and social security | 45 | €9,219 | €0 | -€9,219 | -100.0% |
| Taxes | 450/3 | €9,219 | €0 | -€9,219 | -100.0% |
| Other amounts payable | 47/48 | €205,113 | €195,296 | -€9,817 | -4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,021 | €4,621 | -€401 | -8.0% |
| Other operating charges | 640/8 | €1,912 | €1,725 | -€187 | -9.8% |
| Gross operating margin | 9900 | €5,438 | €17,732 | +€12,294 | +226.1% |
| Operating profit (loss) | 9901 | -€1,495 | €11,386 | +€12,881 | |
| Financial income | 75/76B | €6,041 | €5,874 | -€167 | -2.8% |
| Recurring financial income | 75 | €6,041 | €5,874 | -€167 | -2.8% |
| Financial charges | 65/66B | €314 | €496 | +€183 | +58.2% |
| Recurring financial charges | 65 | €314 | €496 | +€183 | +58.2% |
| Profit (loss) for the period before taxes | 9903 | €4,232 | €16,764 | +€12,532 | +296.1% |
| Profit (loss) for the period | 9904 | €4,232 | €16,764 | +€12,532 | +296.1% |
| Profit (loss) for the period to be appropriated | 9905 | €4,232 | €16,764 | +€12,532 | +296.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.