FEE invest: what changed
FEE invest
Largest movements
- Tangible fixed assets -€17,369
down €17,369 (-31.6%), from €55,047 to €37,679
of which Furniture and vehicles: -€16,881
- Receivables within one year +€10,874
up €10,874 (+22.6%), from €48,094 to €58,968
of which Trade receivables: +€14,198
- Deferred charges and accrued income -€10,111
down €10,111 (-76.0%), from €13,295 to €3,185
- Cash +€1,518
up €1,518 (+364%), from €417 to €1,935
mainly Depreciation (+€17,369) and Deferred charges and accrued income (+€10,111)
- Profit (loss) carried forward -€12,869
down €12,869 (-16.1%), from €79,910 to €67,042
- Advances received -€2,000
no longer reported in 2025 (was €2,000)
- Tax, wage and social debts -€1,454
down €1,454 (-43.1%), from €3,372 to €1,918
- Gross operating margin -€15,546
down €15,546 (-69.6%), from €22,333 to €6,787
- Financial charges +€1,295
up €1,295 (+1,037%), from €125 to €1,420
- Taxes -€914
no longer reported in 2025 (was €914)
- Other operating charges -€618
down €618 (-41.6%), from €1,486 to €868
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €117,854 | €102,765 | -€15,088 | -12.8% |
| Fixed assets | 21/28 | €56,047 | €38,679 | -€17,369 | -31.0% |
| Tangible fixed assets | 22/27 | €55,047 | €37,679 | -€17,369 | -31.6% |
| Land and buildings | 22 | €647 | €407 | -€240 | -37.1% |
| Plant, machinery and equipment | 23 | €814 | €566 | -€248 | -30.5% |
| Furniture and vehicles | 24 | €53,587 | €36,706 | -€16,881 | -31.5% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €61,806 | €64,087 | +€2,280 | +3.7% |
| Amounts receivable within one year | 40/41 | €48,094 | €58,968 | +€10,874 | +22.6% |
| Trade receivables | 40 | - | €14,198 | +€14,198 | |
| Other amounts receivable | 41 | €48,094 | €44,769 | -€3,325 | -6.9% |
| Cash at bank and in hand | 54/58 | €417 | €1,935 | +€1,518 | +364% |
| Deferred charges and accrued income | 490/1 | €13,295 | €3,185 | -€10,111 | -76.0% |
| Total equity and liabilities | 10/49 | €117,854 | €102,765 | -€15,088 | -12.8% |
| Equity | 10/15 | €94,910 | €82,042 | -€12,869 | -13.6% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €79,910 | €67,042 | -€12,869 | -16.1% |
| Amounts payable | 17/49 | €22,943 | €20,724 | -€2,219 | -9.7% |
| Amounts payable within one year | 42/48 | €22,943 | €20,724 | -€2,219 | -9.7% |
| Trade debts | 44 | €24 | €389 | +€365 | +1,506% |
| Suppliers | 440/4 | €24 | €389 | +€365 | +1,506% |
| Advances received on contracts in progress | 46 | €2,000 | - | -€2,000 | |
| Taxes, remuneration and social security | 45 | €3,372 | €1,918 | -€1,454 | -43.1% |
| Taxes | 450/3 | €3,372 | €1,918 | -€1,454 | -43.1% |
| Other amounts payable | 47/48 | €17,547 | €18,417 | +€870 | +5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,369 | €17,369 | = | 0.0% |
| Other operating charges | 640/8 | €1,486 | €868 | -€618 | -41.6% |
| Gross operating margin | 9900 | €22,333 | €6,787 | -€15,546 | -69.6% |
| Operating profit (loss) | 9901 | €3,478 | -€11,449 | -€14,927 | |
| Financial charges | 65/66B | €125 | €1,420 | +€1,295 | +1,037% |
| Recurring financial charges | 65 | €125 | €1,420 | +€1,295 | +1,037% |
| Profit (loss) for the period before taxes | 9903 | €3,353 | -€12,869 | -€16,222 | |
| Income taxes | 67/77 | €914 | - | -€914 | |
| Profit (loss) for the period | 9904 | €2,440 | -€12,869 | -€15,308 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,440 | -€12,869 | -€15,308 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.