FELI SERVICE: 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
FELI SERVICE
NACE 43.211, General electrical installation work
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€7,375
2024 · -€17,051+€9,676
Equity
€207,401
2024 · €214,776-€7,375
Cash
€14,383
2024 · €17,590-€3,207
Balance sheet total
€467,393
2024 · €468,559-€1,166
Largest movements
Assets
- Tangible fixed assets +€15,288
up €15,288 (+4.7%), from €325,102 to €340,390
of which Furniture and vehicles: +€38,331
- Receivables within one year -€14,128
down €14,128 (-21.4%), from €66,156 to €52,028
of which Trade receivables: -€18,012
Equity and liabilities
- Other debts +€11,357
new in 2025: €11,357
- Tax, wage and social debts -€8,319
down €8,319 (-38.8%), from €21,424 to €13,105
of which Remuneration and social security: -€5,649
- Current portion of long-term debt +€7,742
up €7,742 (+26.7%), from €28,954 to €36,695
- Profit (loss) carried forward -€7,375
down €7,375 (-49.9%), from €14,765 to €7,390
Income statement
- Staff costs -€41,777
down €41,777 (-47.1%), from €88,680 to €46,903
- Gross operating margin -€16,527
down €16,527 (-13.5%), from €122,510 to €105,983
- Depreciation +€10,053
up €10,053 (+25.0%), from €40,290 to €50,343
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
-€17,051
Gross operating margin
-€16,527
Staff costs
+€41,777
Depreciation
-€10,053
Other operating charges
-€230
Other operating items
-€5,255
Financial income
+€44
Financial charges
-€80
Result 2025
-€7,375
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
+€55,845
Investment
-€65,631
Financing
+€6,580
Cash 2024
€17,590
From operations (derived)
+€55,845
Net result for the year
-€7,375
Depreciation
+€50,343
Stocks and contracts
-€236
Receivables within one year
+€14,128
Deferred charges and accrued income
-€645
Trade debts
-€2,838
Tax, wage and social debts
-€8,319
Advances received
-€121
Other debts
+€11,357
Accrued charges and deferred income
-€451
Investment (derived)
-€65,631
Investment in fixed assets (net)
-€65,631
Financing
+€6,580
Debts after one year
-€1,162
Current portion of long-term debt
+€7,742
Cash 2025
€14,383
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €468,559 | €467,393 | -€1,166 | -0.2% |
| Fixed assets | 21/28 | €325,102 | €340,390 | +€15,288 | +4.7% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €325,102 | €340,390 | +€15,288 | +4.7% |
| Land and buildings | 22 | €254,265 | €238,352 | -€15,913 | -6.3% |
| Plant, machinery and equipment | 23 | €19,517 | €13,562 | -€5,955 | -30.5% |
| Furniture and vehicles | 24 | €50,145 | €88,476 | +€38,331 | +76.4% |
| Leasing and similar rights | 25 | €1,175 | €0 | -€1,175 | -100% |
| Current assets | 29/58 | €143,457 | €127,003 | -€16,455 | -11.5% |
| Stocks and contracts in progress | 3 | €58,903 | €59,139 | +€236 | +0.4% |
| Stocks | 30/36 | €58,903 | €59,139 | +€236 | +0.4% |
| Amounts receivable within one year | 40/41 | €66,156 | €52,028 | -€14,128 | -21.4% |
| Trade receivables | 40 | €47,814 | €29,802 | -€18,012 | -37.7% |
| Other amounts receivable | 41 | €18,342 | €22,226 | +€3,884 | +21.2% |
| Cash at bank and in hand | 54/58 | €17,590 | €14,383 | -€3,207 | -18.2% |
| Deferred charges and accrued income | 490/1 | €808 | €1,453 | +€645 | +79.8% |
| Total equity and liabilities | 10/49 | €468,559 | €467,393 | -€1,166 | -0.2% |
| Equity | 10/15 | €214,776 | €207,401 | -€7,375 | -3.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €187,611 | €187,611 | = | 0.0% |
| Distributable reserves | 133 | €187,611 | €187,611 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,765 | €7,390 | -€7,375 | -49.9% |
| Amounts payable | 17/49 | €253,783 | €259,992 | +€6,209 | +2.4% |
| Amounts payable after more than one year | 17 | €178,866 | €177,705 | -€1,162 | -0.6% |
| Financial debts | 170/4 | €178,866 | €177,705 | -€1,162 | -0.6% |
| Amounts payable within one year | 42/48 | €73,909 | €81,731 | +€7,822 | +10.6% |
| Current portion of amounts payable after more than one year | 42 | €28,954 | €36,695 | +€7,742 | +26.7% |
| Trade debts | 44 | €23,411 | €20,573 | -€2,838 | -12.1% |
| Suppliers | 440/4 | €23,411 | €20,573 | -€2,838 | -12.1% |
| Advances received on contracts in progress | 46 | €121 | - | -€121 | |
| Taxes, remuneration and social security | 45 | €21,424 | €13,105 | -€8,319 | -38.8% |
| Taxes | 450/3 | €6,512 | €3,842 | -€2,669 | -41.0% |
| Remuneration and social security | 454/9 | €14,912 | €9,263 | -€5,649 | -37.9% |
| Other amounts payable | 47/48 | - | €11,357 | +€11,357 | |
| Accrued charges and deferred income | 492/3 | €1,007 | €556 | -€451 | -44.8% |
| Non-recurring operating income | 76A | €312 | €5,575 | +€5,263 | +1,689% |
| Remuneration, social security and pensions | 62 | €88,680 | €46,903 | -€41,777 | -47.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,290 | €50,343 | +€10,053 | +25.0% |
| Other operating charges | 640/8 | €4,776 | €5,006 | +€230 | +4.8% |
| Non-recurring operating charges | 66A | - | €5,255 | +€5,255 | |
| Gross operating margin | 9900 | €122,510 | €105,983 | -€16,527 | -13.5% |
| Operating profit (loss) | 9901 | -€11,235 | -€1,523 | +€9,712 | +86.4% |
| Financial income | 75/76B | €12 | €56 | +€44 | +366% |
| Recurring financial income | 75 | €12 | €56 | +€44 | +366% |
| Financial charges | 65/66B | €5,828 | €5,908 | +€80 | +1.4% |
| Recurring financial charges | 65 | €5,828 | €5,908 | +€80 | +1.4% |
| Profit (loss) for the period before taxes | 9903 | -€17,051 | -€7,375 | +€9,676 | +56.7% |
| Income taxes | 67/77 | €0 | €0 | = | |
| Profit (loss) for the period | 9904 | -€17,051 | -€7,375 | +€9,676 | +56.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,051 | -€7,375 | +€9,676 | +56.7% |
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 14 October 2026 via checked.be.