FELAMATH: 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.
FELAMATH
Largest movements
- Receivables within one year -€66,136
down €66,136 (-73.3%), from €90,222 to €24,086
of which Trade receivables: -€62,770
- Tangible fixed assets -€15,133
down €15,133 (-6.8%), from €222,113 to €206,980
- Other debts -€43,506
down €43,506 (-61.2%), from €71,132 to €27,626
- Debts after one year -€28,655
down €28,655 (-16.9%), from €169,222 to €140,566
- Profit (loss) carried forward -€9,826
down €9,826 (-3.6%), from -€274,633 to -€284,458
- Trade debts -€4,414
down €4,414 (-33.7%), from €13,081 to €8,668
- Short-term financial debts +€3,744
up €3,744 (+1738.1%), from €215 to €3,959
- Gross operating margin -€3,944
down €3,944 (-31.2%), from €12,655 to €8,710
- Other operating charges +€1,237
up €1,237 (+75.6%), from €1,637 to €2,874
- Depreciation -€1,050
down €1,050 (-6.5%), from €16,184 to €15,133
- Taxes -€631
down €631 (-92.3%), from €684 to €53
- Financial income -€287
down €287 (-100.0%), from €287 to €0
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 | €317,184 | €233,731 | -€83,454 | -26.3% |
| Fixed assets | 21/28 | €222,748 | €207,615 | -€15,133 | -6.8% |
| Tangible fixed assets | 22/27 | €222,113 | €206,980 | -€15,133 | -6.8% |
| Land and buildings | 22 | €222,113 | €206,980 | -€15,133 | -6.8% |
| Financial fixed assets | 28 | €635 | €635 | = | 0.0% |
| Current assets | 29/58 | €94,436 | €26,116 | -€68,321 | -72.3% |
| Amounts receivable within one year | 40/41 | €90,222 | €24,086 | -€66,136 | -73.3% |
| Trade receivables | 40 | €86,165 | €23,395 | -€62,770 | -72.8% |
| Other amounts receivable | 41 | €4,057 | €691 | -€3,366 | -83.0% |
| Current investments | 50/53 | €7 | €7 | +€0 | +0.1% |
| Cash at bank and in hand | 54/58 | €265 | - | -€265 | |
| Deferred charges and accrued income | 490/1 | €3,941 | €2,022 | -€1,919 | -48.7% |
| Total equity and liabilities | 10/49 | €317,184 | €233,731 | -€83,454 | -26.3% |
| Equity | 10/15 | €60,118 | €50,292 | -€9,826 | -16.3% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €184,750 | €184,750 | = | 0.0% |
| Tax-exempt reserves | 132 | €53,644 | €53,644 | = | 0.0% |
| Distributable reserves | 133 | €131,106 | €131,106 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€274,633 | -€284,458 | -€9,826 | -3.6% |
| Amounts payable | 17/49 | €257,067 | €183,439 | -€73,628 | -28.6% |
| Amounts payable after more than one year | 17 | €169,222 | €140,566 | -€28,655 | -16.9% |
| Financial debts | 170/4 | €169,222 | €140,566 | -€28,655 | -16.9% |
| Amounts payable within one year | 42/48 | €87,845 | €42,872 | -€44,973 | -51.2% |
| Financial debts | 43 | €215 | €3,959 | +€3,744 | +1738.1% |
| Credit institutions | 430/8 | €215 | €3,959 | +€3,744 | +1738.1% |
| Trade debts | 44 | €13,081 | €8,668 | -€4,414 | -33.7% |
| Suppliers | 440/4 | €13,081 | €8,668 | -€4,414 | -33.7% |
| Taxes, remuneration and social security | 45 | €3,416 | €2,619 | -€797 | -23.3% |
| Taxes | 450/3 | €3,416 | €2,619 | -€797 | -23.3% |
| Other amounts payable | 47/48 | €71,132 | €27,626 | -€43,506 | -61.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,184 | €15,133 | -€1,050 | -6.5% |
| Other operating charges | 640/8 | €1,637 | €2,874 | +€1,237 | +75.6% |
| Gross operating margin | 9900 | €12,655 | €8,710 | -€3,944 | -31.2% |
| Operating profit (loss) | 9901 | -€5,166 | -€9,298 | -€4,131 | -80.0% |
| Financial income | 75/76B | €287 | €0 | -€287 | -100.0% |
| Recurring financial income | 75 | €287 | €0 | -€287 | -100.0% |
| Financial charges | 65/66B | €409 | €476 | +€66 | +16.2% |
| Recurring financial charges | 65 | €409 | €476 | +€66 | +16.2% |
| Profit (loss) for the period before taxes | 9903 | -€5,288 | -€9,773 | -€4,485 | -84.8% |
| Income taxes | 67/77 | €684 | €53 | -€631 | -92.3% |
| Profit (loss) for the period | 9904 | -€5,971 | -€9,826 | -€3,855 | -64.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,971 | -€9,826 | -€3,855 | -64.5% |
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 8 October 2026 via checked.be.