Felarbo: 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.
Felarbo
Largest movements
- Cash -€68,902
down €68,902 (-50.2%), from €137,151 to €68,249
mainly Net result for the year (-€52,874) and Investment in fixed assets (net) (-€45,000)
- Tangible fixed assets +€41,092
new in 2025: €41,092
- Receivables within one year -€24,230
down €24,230 (-62.6%), from €38,720 to €14,490
of which Trade receivables: -€26,830
- Profit (loss) carried forward -€52,874
new in 2025: -€52,874
- Gross operating margin -€215,194
down €215,194, from €167,211 to -€47,983
- Taxes -€48,585
down €48,585 (-100.0%), from €48,585 to €0
- Depreciation +€3,908
new in 2025: €3,908
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 | €175,871 | €123,831 | -€52,039 | -29.6% |
| Fixed assets | 21/28 | - | €41,092 | +€41,092 | |
| Tangible fixed assets | 22/27 | - | €41,092 | +€41,092 | |
| Furniture and vehicles | 24 | - | €41,092 | +€41,092 | |
| Current assets | 29/58 | €175,871 | €82,739 | -€93,131 | -53.0% |
| Amounts receivable within one year | 40/41 | €38,720 | €14,490 | -€24,230 | -62.6% |
| Trade receivables | 40 | €38,720 | €11,890 | -€26,830 | -69.3% |
| Other amounts receivable | 41 | - | €2,600 | +€2,600 | |
| Cash at bank and in hand | 54/58 | €137,151 | €68,249 | -€68,902 | -50.2% |
| Total equity and liabilities | 10/49 | €175,871 | €123,831 | -€52,039 | -29.6% |
| Equity | 10/15 | €120,450 | €67,576 | -€52,874 | -43.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €117,450 | €117,450 | = | 0.0% |
| Distributable reserves | 133 | €117,450 | €117,450 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€52,874 | -€52,874 | |
| Amounts payable | 17/49 | €55,420 | €56,255 | +€835 | +1.5% |
| Amounts payable within one year | 42/48 | €55,420 | €56,255 | +€835 | +1.5% |
| Trade debts | 44 | - | €1,641 | +€1,641 | |
| Suppliers | 440/4 | - | €1,641 | +€1,641 | |
| Taxes, remuneration and social security | 45 | €55,370 | €54,614 | -€756 | -1.4% |
| Taxes | 450/3 | €51,812 | €49,614 | -€2,198 | -4.2% |
| Remuneration and social security | 454/9 | €3,558 | €5,000 | +€1,442 | +40.5% |
| Other amounts payable | 47/48 | €50 | €0 | -€50 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €3,908 | +€3,908 | |
| Other operating charges | 640/8 | €1,147 | €919 | -€228 | -19.9% |
| Gross operating margin | 9900 | €167,211 | -€47,983 | -€215,194 | |
| Operating profit (loss) | 9901 | €166,064 | -€52,810 | -€218,875 | |
| Financial income | 75/76B | - | €60 | +€60 | |
| Recurring financial income | 75 | - | €60 | +€60 | |
| Financial charges | 65/66B | €28 | €123 | +€95 | +334.7% |
| Recurring financial charges | 65 | €28 | €123 | +€95 | +334.7% |
| Profit (loss) for the period before taxes | 9903 | €166,036 | -€52,874 | -€218,910 | |
| Income taxes | 67/77 | €48,585 | €0 | -€48,585 | -100.0% |
| Profit (loss) for the period | 9904 | €117,450 | -€52,874 | -€170,324 | |
| Profit (loss) for the period to be appropriated | 9905 | €117,450 | -€52,874 | -€170,324 |
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 7 October 2026 via checked.be.