FELA: 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.
FELA
Largest movements
- Cash +€6,801
up €6,801 (+270.0%), from €2,519 to €9,320
mainly Receivables within one year (+€5,191) and Depreciation (+€2,267)
- Receivables within one year -€5,191
down €5,191 (-34.2%), from €15,193 to €10,002
of which Other amounts receivable: -€4,805
- Stocks and contracts +€3,250
new in 2025: €3,250
- Tangible fixed assets -€502
down €502 (-8.0%), from €6,267 to €5,765
of which Furniture and vehicles: -€269
- Deferred charges and accrued income +€480
new in 2025: €480
- Profit (loss) carried forward +€2,772
no longer reported in 2025 (was -€2,772)
- Reserves -€2,590
down €2,590 (-11.0%), from €23,484 to €20,894
- Tax, wage and social debts +€2,121
up €2,121 (+261.8%), from €810 to €2,931
- Other debts +€2,088
new in 2025: €2,088
- Trade debts +€448
up €448 (+98.0%), from €457 to €905
- Taxes +€496
new in 2025: €496
- Depreciation +€399
up €399 (+21.4%), from €1,867 to €2,267
- Gross operating margin +€262
up €262 (+5.8%), from €4,472 to €4,734
- Other operating charges -€230
down €230 (-19.2%), from €1,197 to €968
- Financial charges -€177
down €177 (-17.4%), from €1,019 to €842
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 | €23,979 | €28,817 | +€4,838 | +20.2% |
| Fixed assets | 21/28 | €6,267 | €5,765 | -€502 | -8.0% |
| Tangible fixed assets | 22/27 | €6,267 | €5,765 | -€502 | -8.0% |
| Plant, machinery and equipment | 23 | €1,474 | €1,241 | -€232 | -15.8% |
| Furniture and vehicles | 24 | €4,793 | €4,524 | -€269 | -5.6% |
| Current assets | 29/58 | €17,712 | €23,052 | +€5,340 | +30.2% |
| Stocks and contracts in progress | 3 | - | €3,250 | +€3,250 | |
| Stocks | 30/36 | - | €3,250 | +€3,250 | |
| Amounts receivable within one year | 40/41 | €15,193 | €10,002 | -€5,191 | -34.2% |
| Trade receivables | 40 | €10,388 | €10,002 | -€386 | -3.7% |
| Other amounts receivable | 41 | €4,805 | - | -€4,805 | |
| Cash at bank and in hand | 54/58 | €2,519 | €9,320 | +€6,801 | +270.0% |
| Deferred charges and accrued income | 490/1 | - | €480 | +€480 | |
| Total equity and liabilities | 10/49 | €23,979 | €28,817 | +€4,838 | +20.2% |
| Equity | 10/15 | €22,712 | €22,894 | +€182 | +0.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €23,484 | €20,894 | -€2,590 | -11.0% |
| Distributable reserves | 133 | €23,484 | €20,894 | -€2,590 | -11.0% |
| Profit (loss) carried forward | 14 | -€2,772 | - | +€2,772 | |
| Amounts payable | 17/49 | €1,267 | €5,924 | +€4,656 | +367.5% |
| Amounts payable within one year | 42/48 | €1,267 | €5,924 | +€4,656 | +367.5% |
| Trade debts | 44 | €457 | €905 | +€448 | +98.0% |
| Suppliers | 440/4 | €457 | €905 | +€448 | +98.0% |
| Taxes, remuneration and social security | 45 | €810 | €2,931 | +€2,121 | +261.8% |
| Taxes | 450/3 | €810 | €2,931 | +€2,121 | +261.8% |
| Other amounts payable | 47/48 | - | €2,088 | +€2,088 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,867 | €2,267 | +€399 | +21.4% |
| Other operating charges | 640/8 | €1,197 | €968 | -€230 | -19.2% |
| Gross operating margin | 9900 | €4,472 | €4,734 | +€262 | +5.8% |
| Operating profit (loss) | 9901 | €1,408 | €1,500 | +€92 | +6.5% |
| Financial income | 75/76B | €19 | €20 | +€1 | +3.0% |
| Recurring financial income | 75 | €19 | €20 | +€1 | +3.0% |
| Financial charges | 65/66B | €1,019 | €842 | -€177 | -17.4% |
| Recurring financial charges | 65 | €1,019 | €842 | -€177 | -17.4% |
| Profit (loss) for the period before taxes | 9903 | €408 | €678 | +€270 | +66.1% |
| Income taxes | 67/77 | - | €496 | +€496 | |
| Profit (loss) for the period | 9904 | €408 | €182 | -€226 | -55.4% |
| Profit (loss) for the period to be appropriated | 9905 | €408 | €182 | -€226 | -55.4% |
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 4 October 2026 via checked.be.