FEINER: 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.
FEINER
Largest movements
- Receivables after one year +€30,620
up €30,620 (+77.0%), from €39,751 to €70,371
- Current investments +€25,000
new in 2025: €25,000
- Tangible fixed assets -€9,961
down €9,961 (-26.9%), from €36,988 to €27,027
- Cash -€7,156
down €7,156 (-12.8%), from €56,122 to €48,966
mainly Receivables after one year (-€30,620) and Current investments (-€25,000)
- Receivables within one year +€3,363
up €3,363 (+15.9%), from €21,143 to €24,506
of which Other amounts receivable: +€1,849
- Reserves +€63,750
up €63,750 (+52.4%), from €121,750 to €185,500
- Current portion of long-term debt -€17,162
no longer reported in 2025 (was €17,162)
- Tax, wage and social debts -€5,934
down €5,934 (-47.1%), from €12,608 to €6,675
- Gross operating margin +€2,761
up €2,761 (+2.6%), from €106,344 to €109,104
- Financial charges -€2,196
down €2,196 (-10.3%), from €21,224 to €19,028
- Taxes +€1,489
up €1,489 (+9.5%), from €15,689 to €17,178
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 | €155,115 | €197,079 | +€41,965 | +27.1% |
| Fixed assets | 21/28 | €36,988 | €27,027 | -€9,961 | -26.9% |
| Tangible fixed assets | 22/27 | €36,988 | €27,027 | -€9,961 | -26.9% |
| Furniture and vehicles | 24 | €36,988 | €27,027 | -€9,961 | -26.9% |
| Current assets | 29/58 | €118,127 | €170,052 | +€51,926 | +44.0% |
| Amounts receivable after more than one year | 29 | €39,751 | €70,371 | +€30,620 | +77.0% |
| Other amounts receivable | 291 | €39,751 | €70,371 | +€30,620 | +77.0% |
| Amounts receivable within one year | 40/41 | €21,143 | €24,506 | +€3,363 | +15.9% |
| Trade receivables | 40 | €18,755 | €20,270 | +€1,515 | +8.1% |
| Other amounts receivable | 41 | €2,388 | €4,236 | +€1,849 | +77.4% |
| Current investments | 50/53 | - | €25,000 | +€25,000 | |
| Cash at bank and in hand | 54/58 | €56,122 | €48,966 | -€7,156 | -12.8% |
| Deferred charges and accrued income | 490/1 | €1,111 | €1,209 | +€98 | +8.8% |
| Total equity and liabilities | 10/49 | €155,115 | €197,079 | +€41,965 | +27.1% |
| Equity | 10/15 | €124,369 | €188,229 | +€63,860 | +51.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €121,750 | €185,500 | +€63,750 | +52.4% |
| Distributable reserves | 133 | €121,750 | €185,500 | +€63,750 | +52.4% |
| Profit (loss) carried forward | 14 | €119 | €229 | +€110 | +92.7% |
| Amounts payable | 17/49 | €30,746 | €8,851 | -€21,895 | -71.2% |
| Amounts payable within one year | 42/48 | €30,396 | €8,501 | -€21,895 | -72.0% |
| Current portion of amounts payable after more than one year | 42 | €17,162 | - | -€17,162 | |
| Trade debts | 44 | €626 | - | -€626 | |
| Suppliers | 440/4 | €626 | - | -€626 | |
| Taxes, remuneration and social security | 45 | €12,608 | €6,675 | -€5,934 | -47.1% |
| Taxes | 450/3 | €12,608 | €6,675 | -€5,934 | -47.1% |
| Other amounts payable | 47/48 | - | €1,826 | +€1,826 | |
| Accrued charges and deferred income | 492/3 | €350 | €350 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,865 | €9,961 | +€95 | +1.0% |
| Other operating charges | 640/8 | €1,804 | €731 | -€1,073 | -59.5% |
| Gross operating margin | 9900 | €106,344 | €109,104 | +€2,761 | +2.6% |
| Operating profit (loss) | 9901 | €94,674 | €98,413 | +€3,738 | +3.9% |
| Financial income | 75/76B | €1,627 | €1,653 | +€26 | +1.6% |
| Recurring financial income | 75 | €1,627 | €1,653 | +€26 | +1.6% |
| Financial charges | 65/66B | €21,224 | €19,028 | -€2,196 | -10.3% |
| Recurring financial charges | 65 | €21,224 | €19,028 | -€2,196 | -10.3% |
| Profit (loss) for the period before taxes | 9903 | €75,078 | €81,038 | +€5,960 | +7.9% |
| Income taxes | 67/77 | €15,689 | €17,178 | +€1,489 | +9.5% |
| Profit (loss) for the period | 9904 | €59,389 | €63,860 | +€4,471 | +7.5% |
| Profit (loss) for the period to be appropriated | 9905 | €59,389 | €63,860 | +€4,471 | +7.5% |
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 29 September 2026 via checked.be.