FELCO CONSULTING: 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
FELCO CONSULTING
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€445,500
2024 · €431,210+€14,290
Equity
€3.3m
2024 · €2.9m+€445,500
Cash
€84,433
2024 · €69,026+€15,407
Balance sheet total
€5.5m
2024 · €5.5m+€9,099
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Debts after one year -€535,716
down €535,716 (-45.8%), from €1.2m to €633,917
- Reserves +€445,500
up €445,500 (+15.6%), from €2.9m to €3.3m
of which Distributable reserves: +€445,500
- Short-term financial debts +€107,259
up €107,259 (+18.4%), from €581,425 to €688,684
Income statement
- Financial charges -€15,274
down €15,274 (-38.6%), from €39,588 to €24,314
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
€431,210
Gross operating margin
+€916
Depreciation
-€2,020
Other operating charges
+€528
Financial income
+€9
Financial charges
+€15,274
Taxes
-€417
Result 2025
€445,500
raises the resultlowers the result
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
+€467,775
Investment
-€23,912
Financing
-€428,457
Cash 2024
€69,026
From operations (derived)
+€467,775
Net result for the year
+€445,500
Depreciation
+€34,028
Receivables within one year
-€3,479
Smaller working-capital items
+€99
Trade debts
-€1,653
Other debts
-€6,721
Investment (derived)
-€23,912
Investment in fixed assets (net)
-€23,912
Financing
-€428,457
Debts after one year
-€535,716
Short-term financial debts
+€107,259
Cash 2025
€84,433
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,537,080 | €5,546,179 | +€9,099 | +0.2% |
| Fixed assets | 21/28 | €5,467,873 | €5,457,756 | -€10,117 | -0.2% |
| Tangible fixed assets | 22/27 | €467,873 | €457,756 | -€10,117 | -2.2% |
| Land and buildings | 22 | €391,895 | €380,123 | -€11,772 | -3.0% |
| Furniture and vehicles | 24 | €73,814 | €54,733 | -€19,081 | -25.8% |
| Other tangible fixed assets | 26 | €2,164 | €22,900 | +€20,736 | +958% |
| Financial fixed assets | 28 | €5,000,000 | €5,000,000 | = | 0.0% |
| Current assets | 29/58 | €69,207 | €88,423 | +€19,216 | +27.8% |
| Amounts receivable within one year | 40/41 | - | €3,479 | +€3,479 | |
| Other amounts receivable | 41 | - | €3,479 | +€3,479 | |
| Cash at bank and in hand | 54/58 | €69,026 | €84,433 | +€15,407 | +22.3% |
| Deferred charges and accrued income | 490/1 | €181 | €511 | +€330 | +183% |
| Total equity and liabilities | 10/49 | €5,537,080 | €5,546,179 | +€9,099 | +0.2% |
| Equity | 10/15 | €2,873,472 | €3,318,972 | +€445,500 | +15.5% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €2,854,922 | €3,300,422 | +€445,500 | +15.6% |
| Tax-exempt reserves | 132 | €8,789 | €8,789 | = | 0.0% |
| Distributable reserves | 133 | €2,846,133 | €3,291,633 | +€445,500 | +15.7% |
| Amounts payable | 17/49 | €2,663,608 | €2,227,208 | -€436,401 | -16.4% |
| Amounts payable after more than one year | 17 | €1,169,633 | €633,917 | -€535,716 | -45.8% |
| Financial debts | 170/4 | €1,169,633 | €633,917 | -€535,716 | -45.8% |
| Amounts payable within one year | 42/48 | €1,493,235 | €1,593,291 | +€100,055 | +6.7% |
| Current portion of amounts payable after more than one year | 42 | €535,716 | €535,716 | = | 0.0% |
| Financial debts | 43 | €581,425 | €688,684 | +€107,259 | +18.4% |
| Other loans | 439 | €581,425 | €688,684 | +€107,259 | +18.4% |
| Trade debts | 44 | €3,669 | €2,016 | -€1,653 | -45.1% |
| Suppliers | 440/4 | €3,669 | €2,016 | -€1,653 | -45.1% |
| Taxes, remuneration and social security | 45 | €365,706 | €366,875 | +€1,169 | +0.3% |
| Taxes | 450/3 | €362,587 | €363,735 | +€1,148 | +0.3% |
| Remuneration and social security | 454/9 | €3,119 | €3,140 | +€21 | +0.7% |
| Other amounts payable | 47/48 | €6,721 | - | -€6,721 | |
| Accrued charges and deferred income | 492/3 | €740 | - | -€740 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,008 | €34,028 | +€2,020 | +6.3% |
| Other operating charges | 640/8 | €5,837 | €5,309 | -€528 | -9.1% |
| Gross operating margin | 9900 | €671,515 | €672,431 | +€916 | +0.1% |
| Operating profit (loss) | 9901 | €633,670 | €633,095 | -€575 | -0.1% |
| Financial income | 75/76B | €1 | €10 | +€9 | +860% |
| Recurring financial income | 75 | €1 | €10 | +€9 | +860% |
| Financial charges | 65/66B | €39,588 | €24,314 | -€15,274 | -38.6% |
| Recurring financial charges | 65 | €39,588 | €24,314 | -€15,274 | -38.6% |
| Profit (loss) for the period before taxes | 9903 | €594,083 | €608,791 | +€14,708 | +2.5% |
| Income taxes | 67/77 | €162,874 | €163,291 | +€417 | +0.3% |
| Profit (loss) for the period | 9904 | €431,210 | €445,500 | +€14,290 | +3.3% |
| Profit (loss) for the period to be appropriated | 9905 | €431,210 | €445,500 | +€14,290 | +3.3% |
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 24 October 2026 via checked.be.