FEFANA: 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.
FEFANA
Largest movements
- Cash -€421,288
down €421,288 (-44.2%), from €952,186 to €530,898
mainly Accrued charges and deferred income (-€343,119) and Deferred charges and accrued income (-€196,363)
- Deferred charges and accrued income +€196,363
up €196,363 (+380.6%), from €51,588 to €247,951
- Receivables within one year -€99,327
down €99,327 (-81.5%), from €121,945 to €22,618
of which Trade receivables: -€86,583
- Accrued charges and deferred income -€343,119
down €343,119 (-90.5%), from €379,076 to €35,957
- Profit (loss) carried forward -€164,576
down €164,576 (-11.9%), from €1.4m to €1.2m
- Debts within one year +€160,399
up €160,399 (+65.0%), from €246,920 to €407,319
of which Trade debts: +€223,465
- Other operating charges -€116,863
down €116,863 (-50.2%), from €232,764 to €115,902
- Staff costs +€90,161
up €90,161 (+11.4%), from €792,611 to €882,772
- Gross operating margin -€88,458
down €88,458 (-9.5%), from €934,010 to €845,552
- Financial income -€18,893
down €18,893 (-42.7%), from €44,267 to €25,374
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 | €2,267,543 | €1,920,246 | -€347,297 | -15.3% |
| Fixed assets | 21/28 | €141,824 | €118,779 | -€23,045 | -16.2% |
| Tangible fixed assets | 22/27 | €140,957 | €118,779 | -€22,179 | -15.7% |
| Furniture and vehicles | 24 | €16,841 | €15,262 | -€1,579 | -9.4% |
| Other tangible fixed assets | 26 | €124,116 | €103,517 | -€20,599 | -16.6% |
| Financial fixed assets | 28 | €867 | €0 | -€867 | -100.0% |
| Current assets | 29/58 | €2,125,719 | €1,801,467 | -€324,252 | -15.3% |
| Amounts receivable within one year | 40/41 | €121,945 | €22,618 | -€99,327 | -81.5% |
| Trade receivables | 40 | €88,862 | €2,279 | -€86,583 | -97.4% |
| Other amounts receivable | 41 | €33,083 | €20,339 | -€12,744 | -38.5% |
| Current investments | 50/53 | €1,000,000 | €1,000,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €952,186 | €530,898 | -€421,288 | -44.2% |
| Deferred charges and accrued income | 490/1 | €51,588 | €247,951 | +€196,363 | +380.6% |
| Total equity and liabilities | 10/49 | €2,267,543 | €1,920,246 | -€347,297 | -15.3% |
| Equity | 10/15 | €1,641,547 | €1,476,971 | -€164,576 | -10.0% |
| Contributions | 10/11 | €262,314 | €262,314 | = | 0.0% |
| Capital | 10 | €262,314 | €262,314 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,379,233 | €1,214,656 | -€164,576 | -11.9% |
| Amounts payable | 17/49 | €625,996 | €443,275 | -€182,720 | -29.2% |
| Amounts payable within one year | 42/48 | €246,920 | €407,319 | +€160,399 | +65.0% |
| Trade debts | 44 | €103,266 | €326,730 | +€223,465 | +216.4% |
| Suppliers | 440/4 | €103,266 | €326,730 | +€223,465 | +216.4% |
| Taxes, remuneration and social security | 45 | €143,027 | €80,588 | -€62,438 | -43.7% |
| Taxes | 450/3 | €21,536 | €1,475 | -€20,062 | -93.2% |
| Remuneration and social security | 454/9 | €121,490 | €79,114 | -€42,377 | -34.9% |
| Accrued charges and deferred income | 492/3 | €379,076 | €35,957 | -€343,119 | -90.5% |
| Remuneration, social security and pensions | 62 | €792,611 | €882,772 | +€90,161 | +11.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,765 | €27,876 | -€4,888 | -14.9% |
| Other operating charges | 640/8 | €232,764 | €115,902 | -€116,863 | -50.2% |
| Gross operating margin | 9900 | €934,010 | €845,552 | -€88,458 | -9.5% |
| Operating profit (loss) | 9901 | -€124,130 | -€180,998 | -€56,868 | -45.8% |
| Financial income | 75/76B | €44,267 | €25,374 | -€18,893 | -42.7% |
| Recurring financial income | 75 | €44,267 | €25,374 | -€18,893 | -42.7% |
| Financial charges | 65/66B | €1,191 | €1,160 | -€32 | -2.7% |
| Recurring financial charges | 65 | €1,191 | €1,160 | -€32 | -2.7% |
| Profit (loss) for the period before taxes | 9903 | -€81,054 | -€156,784 | -€75,729 | -93.4% |
| Income taxes | 67/77 | €12,694 | €7,793 | -€4,901 | -38.6% |
| Profit (loss) for the period | 9904 | -€93,748 | -€164,576 | -€70,828 | -75.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€93,748 | -€164,576 | -€70,828 | -75.6% |
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 3 October 2026 via checked.be.