FELIMAX: 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.
FELIMAX
Largest movements
- Stocks and contracts -€3,855
down €3,855 (-13.2%), from €29,252 to €25,397
- Cash +€3,367
up €3,367 (+310%), from €1,085 to €4,453
mainly Stocks and contracts (+€3,855) and Receivables within one year (+€1,945)
- Receivables within one year -€1,945
down €1,945 (-15.0%), from €12,960 to €11,014
of which Trade receivables: -€3,230
- Deferred charges and accrued income +€1,150
new in 2025: €1,150
- Tangible fixed assets +€1,065
new in 2025: €1,065
- Reserves +€1,028
up €1,028 (+7.1%), from €14,391 to €15,419
- Other debts -€1,000
down €1,000 (-6.7%), from €15,000 to €14,000
- Gross operating margin -€14,064
down €14,064 (-82.2%), from €17,106 to €3,042
- Taxes -€3,510
down €3,510 (-79.1%), from €4,440 to €930
- Depreciation -€821
down €821 (-72.1%), from €1,138 to €317
- Other operating charges +€552
up €552 (+330%), from €167 to €719
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 | €44,620 | €44,244 | -€376 | -0.8% |
| Fixed assets | 21/28 | €1,322 | €2,230 | +€908 | +68.6% |
| Intangible fixed assets | 21 | €1,322 | €1,165 | -€158 | -11.9% |
| Tangible fixed assets | 22/27 | - | €1,065 | +€1,065 | |
| Plant, machinery and equipment | 23 | - | €1,065 | +€1,065 | |
| Current assets | 29/58 | €43,298 | €42,014 | -€1,283 | -3.0% |
| Stocks and contracts in progress | 3 | €29,252 | €25,397 | -€3,855 | -13.2% |
| Stocks | 30/36 | €29,252 | €25,397 | -€3,855 | -13.2% |
| Amounts receivable within one year | 40/41 | €12,960 | €11,014 | -€1,945 | -15.0% |
| Trade receivables | 40 | €10,666 | €7,436 | -€3,230 | -30.3% |
| Other amounts receivable | 41 | €2,294 | €3,578 | +€1,284 | +56.0% |
| Cash at bank and in hand | 54/58 | €1,085 | €4,453 | +€3,367 | +310% |
| Deferred charges and accrued income | 490/1 | - | €1,150 | +€1,150 | |
| Total equity and liabilities | 10/49 | €44,620 | €44,244 | -€376 | -0.8% |
| Equity | 10/15 | €24,391 | €25,419 | +€1,028 | +4.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €14,391 | €15,419 | +€1,028 | +7.1% |
| Distributable reserves | 133 | €14,391 | €15,419 | +€1,028 | +7.1% |
| Amounts payable | 17/49 | €20,229 | €18,825 | -€1,404 | -6.9% |
| Amounts payable within one year | 42/48 | €20,229 | €18,825 | -€1,404 | -6.9% |
| Trade debts | 44 | €1,296 | €1,294 | -€2 | -0.1% |
| Suppliers | 440/4 | €1,296 | €1,294 | -€2 | -0.1% |
| Taxes, remuneration and social security | 45 | €3,934 | €3,531 | -€402 | -10.2% |
| Taxes | 450/3 | €3,934 | €3,531 | -€402 | -10.2% |
| Other amounts payable | 47/48 | €15,000 | €14,000 | -€1,000 | -6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,138 | €317 | -€821 | -72.1% |
| Other operating charges | 640/8 | €167 | €719 | +€552 | +330% |
| Gross operating margin | 9900 | €17,106 | €3,042 | -€14,064 | -82.2% |
| Operating profit (loss) | 9901 | €15,801 | €2,006 | -€13,795 | -87.3% |
| Financial income | 75/76B | €23 | €40 | +€17 | +74.7% |
| Recurring financial income | 75 | €23 | €40 | +€17 | +74.7% |
| Financial charges | 65/66B | €71 | €88 | +€17 | +23.5% |
| Recurring financial charges | 65 | €71 | €88 | +€17 | +23.5% |
| Profit (loss) for the period before taxes | 9903 | €15,753 | €1,958 | -€13,795 | -87.6% |
| Income taxes | 67/77 | €4,440 | €930 | -€3,510 | -79.1% |
| Profit (loss) for the period | 9904 | €11,313 | €1,028 | -€10,284 | -90.9% |
| Profit (loss) for the period to be appropriated | 9905 | €11,313 | €1,028 | -€10,284 | -90.9% |
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 15 October 2026 via checked.be.