Fehu: 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.
Fehu
Largest movements
- Current investments +€962,449
new in 2025: €962,449
- Receivables after one year -€575,000
down €575,000 (-100%), from €575,000 to €0
- Financial fixed assets -€261,824
down €261,824 (-3.2%), from €8.3m to €8.0m
- Reserves +€142,608
up €142,608 (+1.9%), from €7.6m to €7.8m
- Financial income -€42,868
down €42,868 (-23.7%), from €181,041 to €138,173
- Taxes +€6,358
up €6,358 (+22.3%), from €28,481 to €34,840
- Gross operating margin -€2,449
down €2,449 (-5.4%), from €45,558 to €43,109
- Financial charges +€2,202
up €2,202 (+600%), from €367 to €2,569
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,072,147 | €9,209,172 | +€137,025 | +1.5% |
| Fixed assets | 21/28 | €8,267,502 | €8,005,678 | -€261,824 | -3.2% |
| Financial fixed assets | 28 | €8,267,502 | €8,005,678 | -€261,824 | -3.2% |
| Current assets | 29/58 | €804,645 | €1,203,494 | +€398,849 | +49.6% |
| Amounts receivable after more than one year | 29 | €575,000 | €0 | -€575,000 | -100% |
| Other amounts receivable | 291 | €575,000 | €0 | -€575,000 | -100% |
| Amounts receivable within one year | 40/41 | €2,875 | €3,929 | +€1,053 | +36.6% |
| Trade receivables | 40 | - | €3,550 | +€3,550 | |
| Other amounts receivable | 41 | €2,875 | €379 | -€2,497 | -86.8% |
| Current investments | 50/53 | - | €962,449 | +€962,449 | |
| Cash at bank and in hand | 54/58 | €187,996 | €237,116 | +€49,120 | +26.1% |
| Deferred charges and accrued income | 490/1 | €38,774 | €0 | -€38,774 | -100% |
| Total equity and liabilities | 10/49 | €9,072,147 | €9,209,172 | +€137,025 | +1.5% |
| Equity | 10/15 | €9,033,682 | €9,176,291 | +€142,608 | +1.6% |
| Contributions | 10/11 | €1,390,370 | €1,390,370 | = | 0.0% |
| Reserves | 13 | €7,643,312 | €7,785,921 | +€142,608 | +1.9% |
| Distributable reserves | 133 | €7,643,312 | €7,785,921 | +€142,608 | +1.9% |
| Amounts payable | 17/49 | €38,464 | €32,881 | -€5,584 | -14.5% |
| Amounts payable within one year | 42/48 | €38,464 | €32,881 | -€5,584 | -14.5% |
| Trade debts | 44 | €5,596 | €4,331 | -€1,265 | -22.6% |
| Suppliers | 440/4 | €5,596 | €4,331 | -€1,265 | -22.6% |
| Taxes, remuneration and social security | 45 | €32,769 | €25,674 | -€7,095 | -21.7% |
| Taxes | 450/3 | €32,769 | €25,674 | -€7,095 | -21.7% |
| Other amounts payable | 47/48 | €99 | €2,875 | +€2,776 | +2,804% |
| Other operating charges | 640/8 | €1,350 | €1,265 | -€84 | -6.3% |
| Gross operating margin | 9900 | €45,558 | €43,109 | -€2,449 | -5.4% |
| Operating profit (loss) | 9901 | €44,209 | €41,844 | -€2,365 | -5.3% |
| Financial income | 75/76B | €181,041 | €138,173 | -€42,868 | -23.7% |
| Recurring financial income | 75 | €181,041 | €138,173 | -€42,868 | -23.7% |
| Financial charges | 65/66B | €367 | €2,569 | +€2,202 | +600% |
| Recurring financial charges | 65 | €367 | €2,569 | +€2,202 | +600% |
| Profit (loss) for the period before taxes | 9903 | €224,883 | €177,448 | -€47,435 | -21.1% |
| Income taxes | 67/77 | €28,481 | €34,840 | +€6,358 | +22.3% |
| Profit (loss) for the period | 9904 | €196,402 | €142,608 | -€53,793 | -27.4% |
| Profit (loss) for the period to be appropriated | 9905 | €196,402 | €142,608 | -€53,793 | -27.4% |
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 18 October 2026 via checked.be.