FELICÔ: 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.
FELICÔ
Largest movements
- Tangible fixed assets -€250,017
down €250,017 (-5.7%), from €4.4m to €4.2m
of which Land and buildings: -€249,906
- Cash +€195,630
up €195,630 (+619%), from €31,585 to €227,215
mainly Depreciation (+€327,166) and Other debts (+€168,865)
- Intangible fixed assets -€71,471
down €71,471 (-13.2%), from €541,221 to €469,750
- Current investments +€67,277
up €67,277 (+14.9%), from €452,323 to €519,601
- Debts after one year -€263,370
down €263,370 (-22.5%), from €1.2m to €907,873
- Other debts +€168,865
up €168,865 (+12.7%), from €1.3m to €1.5m
- Financial income +€14,734
up €14,734 (+334%), from €4,411 to €19,145
- Gross operating margin +€13,434
up €13,434 (+2.3%), from €572,448 to €585,882
- Financial charges -€12,837
down €12,837 (-8.4%), from €153,485 to €140,648
- Taxes +€11,541
up €11,541 (+29.5%), from €39,127 to €50,668
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,730,902 | €5,641,307 | -€89,594 | -1.6% |
| Fixed assets | 21/28 | €5,012,344 | €4,690,856 | -€321,488 | -6.4% |
| Intangible fixed assets | 21 | €541,221 | €469,750 | -€71,471 | -13.2% |
| Tangible fixed assets | 22/27 | €4,401,038 | €4,151,021 | -€250,017 | -5.7% |
| Land and buildings | 22 | €4,398,327 | €4,148,421 | -€249,906 | -5.7% |
| Furniture and vehicles | 24 | €2,711 | €2,600 | -€111 | -4.1% |
| Financial fixed assets | 28 | €70,085 | €70,085 | = | 0.0% |
| Current assets | 29/58 | €718,558 | €950,452 | +€231,894 | +32.3% |
| Amounts receivable within one year | 40/41 | €225,547 | €201,103 | -€24,444 | -10.8% |
| Trade receivables | 40 | €206,740 | €191,026 | -€15,714 | -7.6% |
| Other amounts receivable | 41 | €18,807 | €10,077 | -€8,730 | -46.4% |
| Current investments | 50/53 | €452,323 | €519,601 | +€67,277 | +14.9% |
| Cash at bank and in hand | 54/58 | €31,585 | €227,215 | +€195,630 | +619% |
| Deferred charges and accrued income | 490/1 | €9,103 | €2,534 | -€6,570 | -72.2% |
| Total equity and liabilities | 10/49 | €5,730,902 | €5,641,307 | -€89,594 | -1.6% |
| Equity | 10/15 | €2,682,187 | €2,736,247 | +€54,060 | +2.0% |
| Contributions | 10/11 | €1,521,563 | €1,521,563 | = | 0.0% |
| Reserves | 13 | €1,159,870 | €1,213,929 | +€54,060 | +4.7% |
| Non-distributable reserves | 130/1 | €1,089,652 | €1,143,711 | +€54,060 | +5.0% |
| Other | 1319 | €1,089,652 | €1,143,711 | +€54,060 | +5.0% |
| Distributable reserves | 133 | €70,218 | €70,218 | = | 0.0% |
| Profit (loss) carried forward | 14 | €754 | €754 | = | 0.0% |
| Amounts payable | 17/49 | €3,048,714 | €2,905,060 | -€143,654 | -4.7% |
| Amounts payable after more than one year | 17 | €1,171,243 | €907,873 | -€263,370 | -22.5% |
| Financial debts | 170/4 | €1,171,243 | €907,873 | -€263,370 | -22.5% |
| Amounts payable within one year | 42/48 | €1,676,062 | €1,794,800 | +€118,737 | +7.1% |
| Current portion of amounts payable after more than one year | 42 | €313,320 | €263,370 | -€49,950 | -15.9% |
| Trade debts | 44 | €5,842 | €4,430 | -€1,412 | -24.2% |
| Suppliers | 440/4 | €5,842 | €4,430 | -€1,412 | -24.2% |
| Taxes, remuneration and social security | 45 | €31,095 | €32,330 | +€1,235 | +4.0% |
| Taxes | 450/3 | €31,095 | €32,330 | +€1,235 | +4.0% |
| Other amounts payable | 47/48 | €1,325,805 | €1,494,670 | +€168,865 | +12.7% |
| Accrued charges and deferred income | 492/3 | €201,409 | €202,388 | +€979 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €326,975 | €327,166 | +€191 | +0.1% |
| Other operating charges | 640/8 | €31,359 | €32,264 | +€905 | +2.9% |
| Non-recurring operating charges | 66A | €158 | €222 | +€63 | +40.1% |
| Gross operating margin | 9900 | €572,448 | €585,882 | +€13,434 | +2.3% |
| Operating profit (loss) | 9901 | €213,956 | €226,231 | +€12,275 | +5.7% |
| Financial income | 75/76B | €4,411 | €19,145 | +€14,734 | +334% |
| Recurring financial income | 75 | €4,411 | €19,145 | +€14,734 | +334% |
| Financial charges | 65/66B | €153,485 | €140,648 | -€12,837 | -8.4% |
| Recurring financial charges | 65 | €153,485 | €140,648 | -€12,837 | -8.4% |
| Profit (loss) for the period before taxes | 9903 | €64,881 | €104,727 | +€39,846 | +61.4% |
| Income taxes | 67/77 | €39,127 | €50,668 | +€11,541 | +29.5% |
| Profit (loss) for the period | 9904 | €25,755 | €54,060 | +€28,305 | +110% |
| Profit (loss) for the period to be appropriated | 9905 | €25,755 | €54,060 | +€28,305 | +110% |
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.