Feka: 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.
What changed
Feka
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€1.6m
2024 · -€261,699-€1.3m
Equity
€1.4m
2024 · €3.0m-€1.6m
Cash
€105,534
2024 · €340,770-€235,237
Balance sheet total
€45.2m
2024 · €37.8m+€7.4m
Largest movements
Assets
- Tangible fixed assets +€7.9m
up €7.9m (+21.6%), from €36.5m to €44.4m
of which Land and buildings: +€5.5m
Equity and liabilities
- Debts after one year +€6.0m
up €6.0m (+57.1%), from €10.5m to €16.5m
- Other debts +€2.3m
up €2.3m (+9.6%), from €23.5m to €25.8m
- Profit (loss) carried forward -€1.6m
down €1.6m (-137%), from -€1.1m to -€2.7m
Income statement
- Depreciation +€631,443
up €631,443 (+23.8%), from €2.6m to €3.3m
- Other operating charges +€322,724
up €322,724 (+166%), from €194,742 to €517,465
- Gross operating margin -€258,195
down €258,195 (-6.5%), from €4.0m to €3.7m
- Taxes +€176,187
up €176,187, from -€31 to €176,155
- Financial charges -€128,614
down €128,614 (-9.2%), from €1.4m to €1.3m
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.
Result 2024
-€261,699
Gross operating margin
-€258,195
Depreciation
-€631,443
Write-downs
-€5,466
Other operating charges
-€322,724
Other operating items
-€44,621
Financial income
-€607
Financial charges
+€128,614
Taxes
-€176,187
Result 2025
-€1.6m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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.
From operations
+€4.9m
Investment
-€11.2m
Financing
+€6.0m
Cash 2024
€340,770
From operations (derived)
+€4.9m
Net result for the year
-€1.6m
Depreciation
+€3.3m
Receivables within one year
+€247,270
Deferred charges and accrued income
-€9,336
Trade debts
+€207,393
Tax, wage and social debts
+€244,261
Other debts
+€2.3m
Accrued charges and deferred income
+€274,575
Investment (derived)
-€11.2m
Investment in fixed assets (net)
-€11.2m
Financing
+€6.0m
Debts after one year
+€6.0m
Cash 2025
€105,534
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €37,787,072 | €45,203,829 | +€7.4m | +19.6% |
| Fixed assets | 21/28 | €36,494,665 | €44,384,593 | +€7.9m | +21.6% |
| Tangible fixed assets | 22/27 | €36,494,665 | €44,384,593 | +€7.9m | +21.6% |
| Land and buildings | 22 | €34,025,041 | €39,537,861 | +€5.5m | +16.2% |
| Furniture and vehicles | 24 | €5,949 | €5,949 | = | 0.0% |
| Assets under construction and advance payments | 27 | €2,463,675 | €4,840,782 | +€2.4m | +96.5% |
| Current assets | 29/58 | €1,292,407 | €819,236 | -€473,171 | -36.6% |
| Amounts receivable within one year | 40/41 | €936,197 | €688,927 | -€247,270 | -26.4% |
| Trade receivables | 40 | €619,387 | €666,427 | +€47,040 | +7.6% |
| Other amounts receivable | 41 | €316,810 | €22,500 | -€294,310 | -92.9% |
| Cash at bank and in hand | 54/58 | €340,770 | €105,534 | -€235,237 | -69.0% |
| Deferred charges and accrued income | 490/1 | €15,440 | €24,776 | +€9,336 | +60.5% |
| Total equity and liabilities | 10/49 | €37,787,072 | €45,203,829 | +€7.4m | +19.6% |
| Equity | 10/15 | €2,970,623 | €1,398,295 | -€1.6m | -52.9% |
| Contributions | 10/11 | €4,011,500 | €4,011,500 | = | 0.0% |
| Capital | 10 | €4,011,500 | €4,011,500 | = | 0.0% |
| Issued capital | 100 | €4,011,500 | €4,011,500 | = | 0.0% |
| Reserves | 13 | €105,966 | €105,966 | = | 0.0% |
| Non-distributable reserves | 130/1 | €96,062 | €96,062 | = | 0.0% |
| Legal reserve | 130 | €96,062 | €96,062 | = | 0.0% |
| Distributable reserves | 133 | €9,903 | €9,903 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,146,843 | -€2,719,171 | -€1.6m | -137% |
| Amounts payable | 17/49 | €34,816,449 | €43,805,534 | +€9.0m | +25.8% |
| Amounts payable after more than one year | 17 | €10,500,000 | €16,500,000 | +€6.0m | +57.1% |
| Financial debts | 170/4 | €10,500,000 | €16,500,000 | +€6.0m | +57.1% |
| Amounts payable within one year | 42/48 | €24,246,179 | €26,960,688 | +€2.7m | +11.2% |
| Trade debts | 44 | €680,874 | €888,267 | +€207,393 | +30.5% |
| Suppliers | 440/4 | €680,874 | €888,267 | +€207,393 | +30.5% |
| Taxes, remuneration and social security | 45 | €33,090 | €277,351 | +€244,261 | +738% |
| Taxes | 450/3 | €30,591 | €274,813 | +€244,221 | +798% |
| Remuneration and social security | 454/9 | €2,499 | €2,539 | +€40 | +1.6% |
| Other amounts payable | 47/48 | €23,532,215 | €25,795,070 | +€2.3m | +9.6% |
| Accrued charges and deferred income | 492/3 | €70,270 | €344,845 | +€274,575 | +391% |
| Non-recurring operating income | 76A | €104,725 | €20,040 | -€84,685 | -80.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,647,980 | €3,279,423 | +€631,443 | +23.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €5,466 | +€5,466 | |
| Other operating charges | 640/8 | €194,742 | €517,465 | +€322,724 | +166% |
| Non-recurring operating charges | 66A | - | €44,621 | +€44,621 | |
| Gross operating margin | 9900 | €3,984,050 | €3,725,855 | -€258,195 | -6.5% |
| Operating profit (loss) | 9901 | €1,141,328 | -€121,121 | -€1.3m | |
| Financial income | 75/76B | €901 | €294 | -€607 | -67.3% |
| Recurring financial income | 75 | €901 | €294 | -€607 | -67.3% |
| Financial charges | 65/66B | €1,403,960 | €1,275,347 | -€128,614 | -9.2% |
| Recurring financial charges | 65 | €1,403,960 | €1,275,347 | -€128,614 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | -€261,730 | -€1,396,173 | -€1.1m | -433% |
| Income taxes | 67/77 | -€31 | €176,155 | +€176,187 | |
| Profit (loss) for the period | 9904 | -€261,699 | -€1,572,328 | -€1.3m | -501% |
| Profit (loss) for the period to be appropriated | 9905 | -€261,699 | -€1,572,328 | -€1.3m | -501% |
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 16 October 2026 via checked.be.