FEJU: what changed
What changed
FEJU
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€108,546
2024 · €61,139+€47,407
Equity
€326,218
2024 · €217,671+€108,546
Cash
€187,051
2024 · €80,080+€106,971
Balance sheet total
€637,380
2024 · €476,769+€160,611
Largest movements
Assets
- Cash +€106,971
up €106,971 (+134%), from €80,080 to €187,051
mainly Net result for the year (+€108,546) and Accrued charges and deferred income (+€57,239)
- Receivables within one year +€32,226
up €32,226 (+32.5%), from €99,032 to €131,258
of which Trade receivables: +€27,225
- Tangible fixed assets +€26,538
up €26,538 (+9.2%), from €287,409 to €313,947
of which Land and buildings: +€24,261
Equity and liabilities
- Reserves +€108,546
up €108,546 (+50.6%), from €214,671 to €323,218
- Accrued charges and deferred income +€57,239
up €57,239 (+6,025%), from €950 to €58,189
- Debts after one year -€10,763
down €10,763 (-4.9%), from €220,469 to €209,705
- Tax, wage and social debts +€7,215
up €7,215 (+30.0%), from €24,012 to €31,227
Income statement
- Gross operating margin +€137,821
up €137,821 (+132%), from €104,802 to €242,622
- Taxes +€28,678
up €28,678 (+124%), from €23,132 to €51,810
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.
Result 2024
€61,139
Gross operating margin
+€137,821
Depreciation
-€2,292
Other operating charges
-€641
Other operating items
-€60,763
Financial income
+€101
Financial charges
+€1,860
Taxes
-€28,678
Result 2025
€108,546
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€153,152
Investment
-€35,813
Financing
-€10,368
Cash 2024
€80,080
From operations (derived)
+€153,152
Net result for the year
+€108,546
Depreciation
+€9,275
Receivables within one year
-€32,226
Deferred charges and accrued income
+€5,124
Trade debts
-€2,112
Tax, wage and social debts
+€7,215
Other debts
+€90
Accrued charges and deferred income
+€57,239
Investment (derived)
-€35,813
Investment in fixed assets (net)
-€35,813
Financing
-€10,368
Debts after one year
-€10,763
Current portion of long-term debt
+€396
Cash 2025
€187,051
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €476,769 | €637,380 | +€160,611 | +33.7% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €287,409 | €313,947 | +€26,538 | +9.2% |
| Tangible fixed assets | 22/27 | €287,409 | €313,947 | +€26,538 | +9.2% |
| Land and buildings | 22 | €284,060 | €308,321 | +€24,261 | +8.5% |
| Plant, machinery and equipment | 23 | €388 | €3,322 | +€2,933 | +755% |
| Furniture and vehicles | 24 | €2,960 | €2,304 | -€656 | -22.2% |
| Current assets | 29/58 | €189,361 | €323,433 | +€134,072 | +70.8% |
| Amounts receivable within one year | 40/41 | €99,032 | €131,258 | +€32,226 | +32.5% |
| Trade receivables | 40 | €84,700 | €111,925 | +€27,225 | +32.1% |
| Other amounts receivable | 41 | €14,332 | €19,333 | +€5,001 | +34.9% |
| Cash at bank and in hand | 54/58 | €80,080 | €187,051 | +€106,971 | +134% |
| Deferred charges and accrued income | 490/1 | €10,249 | €5,124 | -€5,124 | -50.0% |
| Total equity and liabilities | 10/49 | €476,769 | €637,380 | +€160,611 | +33.7% |
| Equity | 10/15 | €217,671 | €326,218 | +€108,546 | +49.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €214,671 | €323,218 | +€108,546 | +50.6% |
| Distributable reserves | 133 | €214,671 | €323,218 | +€108,546 | +50.6% |
| Amounts payable | 17/49 | €259,098 | €311,162 | +€52,064 | +20.1% |
| Amounts payable after more than one year | 17 | €220,469 | €209,705 | -€10,763 | -4.9% |
| Financial debts | 170/4 | €220,469 | €209,705 | -€10,763 | -4.9% |
| Amounts payable within one year | 42/48 | €37,679 | €43,268 | +€5,588 | +14.8% |
| Current portion of amounts payable after more than one year | 42 | €10,368 | €10,763 | +€396 | +3.8% |
| Trade debts | 44 | €3,300 | €1,188 | -€2,112 | -64.0% |
| Suppliers | 440/4 | €3,300 | €1,188 | -€2,112 | -64.0% |
| Taxes, remuneration and social security | 45 | €24,012 | €31,227 | +€7,215 | +30.0% |
| Taxes | 450/3 | €24,012 | €31,227 | +€7,215 | +30.0% |
| Other amounts payable | 47/48 | - | €90 | +€90 | |
| Accrued charges and deferred income | 492/3 | €950 | €58,189 | +€57,239 | +6,025% |
| Non-recurring operating income | 76A | - | €108,085 | +€108,085 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,983 | €9,275 | +€2,292 | +32.8% |
| Other operating charges | 640/8 | €1,965 | €2,605 | +€641 | +32.6% |
| Non-recurring operating charges | 66A | - | €60,763 | +€60,763 | |
| Gross operating margin | 9900 | €104,802 | €242,622 | +€137,821 | +132% |
| Operating profit (loss) | 9901 | €95,854 | €169,979 | +€74,125 | +77.3% |
| Financial income | 75/76B | €818 | €919 | +€101 | +12.3% |
| Recurring financial income | 75 | €818 | €919 | +€101 | +12.3% |
| Financial charges | 65/66B | €12,402 | €10,541 | -€1,860 | -15.0% |
| Recurring financial charges | 65 | €12,402 | €10,541 | -€1,860 | -15.0% |
| Profit (loss) for the period before taxes | 9903 | €84,271 | €160,357 | +€76,086 | +90.3% |
| Income taxes | 67/77 | €23,132 | €51,810 | +€28,678 | +124% |
| Profit (loss) for the period | 9904 | €61,139 | €108,546 | +€47,407 | +77.5% |
| Profit (loss) for the period to be appropriated | 9905 | €61,139 | €108,546 | +€47,407 | +77.5% |
Next steps
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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 5 November 2026 via checked.be.