FEILAN: 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.
FEILAN
Largest movements
- Current investments +€125,000
up €125,000 (+71.4%), from €175,000 to €300,000
- Cash -€105,960
down €105,960 (-78.7%), from €134,686 to €28,726
mainly Current investments (-€125,000) and Investment in fixed assets (net) (-€74,554)
- Receivables within one year -€71,055
down €71,055 (-78.3%), from €90,800 to €19,745
of which Trade receivables: -€65,386
- Tangible fixed assets +€60,208
up €60,208 (+303.4%), from €19,846 to €80,055
of which Furniture and vehicles: +€68,476
- Reserves +€11,866
up €11,866 (+3.1%), from €388,707 to €400,573
of which Distributable reserves: +€11,866
- Financial income +€7,398
up €7,398 (+4389.5%), from €169 to €7,567
- Taxes +€2,016
up €2,016 (+7.7%), from €26,303 to €28,319
- Gross operating margin -€1,528
down €1,528 (-1.5%), from €104,282 to €102,754
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 | €434,868 | €442,281 | +€7,414 | +1.7% |
| Fixed assets | 21/28 | €22,396 | €82,605 | +€60,208 | +268.8% |
| Tangible fixed assets | 22/27 | €19,846 | €80,055 | +€60,208 | +303.4% |
| Plant, machinery and equipment | 23 | €16,477 | €8,209 | -€8,268 | -50.2% |
| Furniture and vehicles | 24 | €3,369 | €71,845 | +€68,476 | +2032.6% |
| Financial fixed assets | 28 | €2,550 | €2,550 | = | 0.0% |
| Current assets | 29/58 | €412,471 | €359,677 | -€52,795 | -12.8% |
| Amounts receivable after more than one year | 29 | €6,178 | €2,845 | -€3,334 | -54.0% |
| Other amounts receivable | 291 | €6,178 | €2,845 | -€3,334 | -54.0% |
| Amounts receivable within one year | 40/41 | €90,800 | €19,745 | -€71,055 | -78.3% |
| Trade receivables | 40 | €85,131 | €19,745 | -€65,386 | -76.8% |
| Other amounts receivable | 41 | €5,669 | - | -€5,669 | |
| Current investments | 50/53 | €175,000 | €300,000 | +€125,000 | +71.4% |
| Cash at bank and in hand | 54/58 | €134,686 | €28,726 | -€105,960 | -78.7% |
| Deferred charges and accrued income | 490/1 | €5,808 | €8,361 | +€2,554 | +44.0% |
| Total equity and liabilities | 10/49 | €434,868 | €442,281 | +€7,414 | +1.7% |
| Equity | 10/15 | €407,307 | €419,173 | +€11,866 | +2.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €388,707 | €400,573 | +€11,866 | +3.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €386,847 | €398,713 | +€11,866 | +3.1% |
| Amounts payable | 17/49 | €27,561 | €23,108 | -€4,452 | -16.2% |
| Amounts payable within one year | 42/48 | €27,561 | €23,108 | -€4,452 | -16.2% |
| Trade debts | 44 | €7,663 | €4,983 | -€2,680 | -35.0% |
| Suppliers | 440/4 | €7,663 | €4,983 | -€2,680 | -35.0% |
| Taxes, remuneration and social security | 45 | €17,888 | €16,158 | -€1,730 | -9.7% |
| Taxes | 450/3 | €17,888 | €16,158 | -€1,730 | -9.7% |
| Other amounts payable | 47/48 | €2,010 | €1,968 | -€42 | -2.1% |
| Non-recurring operating income | 76A | - | €4,132 | +€4,132 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,453 | €14,346 | -€108 | -0.7% |
| Other operating charges | 640/8 | €854 | €1,051 | +€197 | +23.1% |
| Gross operating margin | 9900 | €104,282 | €102,754 | -€1,528 | -1.5% |
| Operating profit (loss) | 9901 | €88,975 | €87,357 | -€1,618 | -1.8% |
| Financial income | 75/76B | €169 | €7,567 | +€7,398 | +4389.5% |
| Recurring financial income | 75 | €169 | €7,567 | +€7,398 | +4389.5% |
| Financial charges | 65/66B | €96 | €78 | -€18 | -18.5% |
| Recurring financial charges | 65 | €96 | €78 | -€18 | -18.5% |
| Profit (loss) for the period before taxes | 9903 | €89,047 | €94,846 | +€5,798 | +6.5% |
| Income taxes | 67/77 | €26,303 | €28,319 | +€2,016 | +7.7% |
| Profit (loss) for the period | 9904 | €62,744 | €66,527 | +€3,782 | +6.0% |
| Profit (loss) for the period to be appropriated | 9905 | €62,744 | €66,527 | +€3,782 | +6.0% |
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 30 September 2026 via checked.be.