Felisun: 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.
Felisun
Largest movements
- Cash -€79,819
down €79,819 (-76.7%), from €104,018 to €24,199
mainly Contributions, distributions and other (-€62,722) and Other debts (-€51,891)
- Current investments +€26,092
up €26,092 (+48.5%), from €53,793 to €79,885
- Receivables within one year +€8,255
up €8,255 (+61.7%), from €13,380 to €21,635
- Tangible fixed assets -€3,851
down €3,851 (-23.4%), from €16,478 to €12,627
of which Furniture and vehicles: -€3,053
- Other debts -€51,891
down €51,891 (-31.9%), from €162,464 to €110,573
- Tax, wage and social debts +€4,181
up €4,181 (+17.5%), from €23,877 to €28,058
- Gross operating margin +€15,135
up €15,135 (+22.2%), from €68,255 to €83,390
- Taxes +€3,601
up €3,601 (+25.3%), from €14,220 to €17,821
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 | €188,351 | €138,842 | -€49,509 | -26.3% |
| Fixed assets | 21/28 | €16,478 | €12,627 | -€3,851 | -23.4% |
| Tangible fixed assets | 22/27 | €16,478 | €12,627 | -€3,851 | -23.4% |
| Plant, machinery and equipment | 23 | €413 | €833 | +€420 | +102% |
| Furniture and vehicles | 24 | €6,549 | €3,496 | -€3,053 | -46.6% |
| Other tangible fixed assets | 26 | €9,516 | €8,299 | -€1,218 | -12.8% |
| Current assets | 29/58 | €171,873 | €126,215 | -€45,658 | -26.6% |
| Amounts receivable within one year | 40/41 | €13,380 | €21,635 | +€8,255 | +61.7% |
| Trade receivables | 40 | €13,380 | €21,635 | +€8,255 | +61.7% |
| Current investments | 50/53 | €53,793 | €79,885 | +€26,092 | +48.5% |
| Cash at bank and in hand | 54/58 | €104,018 | €24,199 | -€79,819 | -76.7% |
| Deferred charges and accrued income | 490/1 | €682 | €497 | -€185 | -27.2% |
| Total equity and liabilities | 10/49 | €188,351 | €138,842 | -€49,509 | -26.3% |
| Equity | 10/15 | €1 | €1 | = | 0.0% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Amounts payable | 17/49 | €188,350 | €138,841 | -€49,509 | -26.3% |
| Amounts payable within one year | 42/48 | €188,350 | €138,841 | -€49,509 | -26.3% |
| Trade debts | 44 | €2,008 | €210 | -€1,799 | -89.6% |
| Suppliers | 440/4 | €2,008 | €210 | -€1,799 | -89.6% |
| Taxes, remuneration and social security | 45 | €23,877 | €28,058 | +€4,181 | +17.5% |
| Taxes | 450/3 | €23,877 | €28,058 | +€4,181 | +17.5% |
| Other amounts payable | 47/48 | €162,464 | €110,573 | -€51,891 | -31.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,599 | €6,193 | -€406 | -6.1% |
| Other operating charges | 640/8 | €514 | €721 | +€208 | +40.5% |
| Gross operating margin | 9900 | €68,255 | €83,390 | +€15,135 | +22.2% |
| Operating profit (loss) | 9901 | €61,142 | €76,475 | +€15,333 | +25.1% |
| Financial income | 75/76B | €3,372 | €4,145 | +€773 | +22.9% |
| Recurring financial income | 75 | €3,372 | €4,145 | +€773 | +22.9% |
| Financial charges | 65/66B | €170 | €78 | -€92 | -54.1% |
| Recurring financial charges | 65 | €170 | €78 | -€92 | -54.1% |
| Profit (loss) for the period before taxes | 9903 | €64,344 | €80,543 | +€16,198 | +25.2% |
| Income taxes | 67/77 | €14,220 | €17,821 | +€3,601 | +25.3% |
| Profit (loss) for the period | 9904 | €50,124 | €62,722 | +€12,597 | +25.1% |
| Profit (loss) for the period to be appropriated | 9905 | €50,124 | €62,722 | +€12,597 | +25.1% |
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 22 October 2026 via checked.be.