Felipes: 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.
Felipes
Largest movements
- Cash +€438,091
up €438,091 (+438.5%), from €99,913 to €538,003
mainly Trade debts (+€412,470) and Depreciation (+€271,596)
- Tangible fixed assets +€345,374
up €345,374 (+27.0%), from €1.3m to €1.6m
of which Other tangible fixed assets: +€300,754
- Deferred charges and accrued income +€34,477
up €34,477 (+89.8%), from €38,406 to €72,884
- Receivables within one year -€30,093
down €30,093 (-14.0%), from €214,512 to €184,419
of which Trade receivables: -€26,697
- Trade debts +€412,470
up €412,470 (+280.3%), from €147,148 to €559,618
- Reserves +€244,099
up €244,099 (+152.4%), from €160,192 to €404,291
- Debts after one year +€157,491
up €157,491 (+17.8%), from €886,021 to €1.0m
- Other debts +€25,130
up €25,130 (+61.0%), from €41,204 to €66,335
- Gross operating margin +€863,474
up €863,474 (+38.1%), from €2.3m to €3.1m
- Staff costs +€564,514
up €564,514 (+29.5%), from €1.9m to €2.5m
- Taxes +€65,561
up €65,561 (+260.4%), from €25,173 to €90,734
- Depreciation +€49,449
up €49,449 (+22.3%), from €222,147 to €271,596
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 | €1,657,948 | €2,460,479 | +€802,531 | +48.4% |
| Fixed assets | 21/28 | €1,278,799 | €1,629,171 | +€350,371 | +27.4% |
| Intangible fixed assets | 21 | - | €4,997 | +€4,997 | |
| Tangible fixed assets | 22/27 | €1,278,799 | €1,624,173 | +€345,374 | +27.0% |
| Plant, machinery and equipment | 23 | €120,340 | €119,273 | -€1,067 | -0.9% |
| Furniture and vehicles | 24 | €37,968 | €54,759 | +€16,791 | +44.2% |
| Leasing and similar rights | 25 | €6,984 | €35,882 | +€28,897 | +413.7% |
| Other tangible fixed assets | 26 | €1,113,507 | €1,414,260 | +€300,754 | +27.0% |
| Current assets | 29/58 | €379,149 | €831,308 | +€452,159 | +119.3% |
| Stocks and contracts in progress | 3 | €26,318 | €36,002 | +€9,684 | +36.8% |
| Stocks | 30/36 | €26,318 | €36,002 | +€9,684 | +36.8% |
| Amounts receivable within one year | 40/41 | €214,512 | €184,419 | -€30,093 | -14.0% |
| Trade receivables | 40 | €87,354 | €60,657 | -€26,697 | -30.6% |
| Other amounts receivable | 41 | €127,158 | €123,762 | -€3,396 | -2.7% |
| Cash at bank and in hand | 54/58 | €99,913 | €538,003 | +€438,091 | +438.5% |
| Deferred charges and accrued income | 490/1 | €38,406 | €72,884 | +€34,477 | +89.8% |
| Total equity and liabilities | 10/49 | €1,657,948 | €2,460,479 | +€802,531 | +48.4% |
| Equity | 10/15 | €178,792 | €422,891 | +€244,099 | +136.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €160,192 | €404,291 | +€244,099 | +152.4% |
| Distributable reserves | 133 | €160,192 | €404,291 | +€244,099 | +152.4% |
| Amounts payable | 17/49 | €1,479,156 | €2,037,588 | +€558,432 | +37.8% |
| Amounts payable after more than one year | 17 | €886,021 | €1,043,512 | +€157,491 | +17.8% |
| Financial debts | 170/4 | €886,021 | €1,043,512 | +€157,491 | +17.8% |
| Amounts payable within one year | 42/48 | €572,268 | €994,077 | +€421,809 | +73.7% |
| Current portion of amounts payable after more than one year | 42 | €104,404 | €108,207 | +€3,803 | +3.6% |
| Trade debts | 44 | €147,148 | €559,618 | +€412,470 | +280.3% |
| Suppliers | 440/4 | €147,148 | €559,618 | +€412,470 | +280.3% |
| Taxes, remuneration and social security | 45 | €279,512 | €259,917 | -€19,595 | -7.0% |
| Taxes | 450/3 | €45,432 | €65,251 | +€19,820 | +43.6% |
| Remuneration and social security | 454/9 | €234,080 | €194,665 | -€39,414 | -16.8% |
| Other amounts payable | 47/48 | €41,204 | €66,335 | +€25,130 | +61.0% |
| Accrued charges and deferred income | 492/3 | €20,867 | €0 | -€20,867 | -100.0% |
| Non-recurring operating income | 76A | - | €14,577 | +€14,577 | |
| Remuneration, social security and pensions | 62 | €1,914,491 | €2,479,006 | +€564,514 | +29.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €222,147 | €271,596 | +€49,449 | +22.3% |
| Other operating charges | 640/8 | €24,110 | €23,137 | -€973 | -4.0% |
| Gross operating margin | 9900 | €2,264,798 | €3,128,272 | +€863,474 | +38.1% |
| Operating profit (loss) | 9901 | €104,050 | €354,534 | +€250,484 | +240.7% |
| Financial income | 75/76B | €1,112 | €806 | -€306 | -27.5% |
| Recurring financial income | 75 | €1,112 | €806 | -€306 | -27.5% |
| Financial charges | 65/66B | €22,555 | €20,508 | -€2,048 | -9.1% |
| Recurring financial charges | 65 | €22,555 | €20,508 | -€2,048 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | €82,606 | €334,832 | +€252,226 | +305.3% |
| Income taxes | 67/77 | €25,173 | €90,734 | +€65,561 | +260.4% |
| Profit (loss) for the period | 9904 | €57,433 | €244,099 | +€186,665 | +325.0% |
| Profit (loss) for the period to be appropriated | 9905 | €57,433 | €244,099 | +€186,665 | +325.0% |
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 10 October 2026 via checked.be.