Felix & Jos: 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.
Felix & Jos
Largest movements
- Stocks and contracts +€337,721
up €337,721 (+25.3%), from €1.3m to €1.7m
- Receivables within one year -€144,083
down €144,083 (-13.2%), from €1.1m to €950,450
of which Other amounts receivable: -€340,561
- Tangible fixed assets -€94,250
down €94,250 (-43.0%), from €219,168 to €124,918
of which Furniture and vehicles: -€88,034
- Deferred charges and accrued income -€52,045
down €52,045 (-71.9%), from €72,352 to €20,306
- Cash +€38,569
up €38,569 (+374%), from €10,308 to €48,877
mainly Net result for the year (+€228,185) and Short-term financial debts (+€147,659)
- Current portion of long-term debt -€422,593
down €422,593 (-23.6%), from €1.8m to €1.4m
- Profit (loss) carried forward +€152,405
up €152,405, from -€32,276 to €120,129
- Short-term financial debts +€147,659
up €147,659 (+135%), from €109,171 to €256,830
- Trade debts +€117,404
up €117,404 (+26.6%), from €440,724 to €558,128
- Reserves +€75,780
new in 2025: €75,780
- Staff costs -€155,343
down €155,343 (-17.6%), from €880,431 to €725,088
- Gross operating margin +€91,974
up €91,974 (+8.4%), from €1.1m to €1.2m
- Taxes +€79,783
up €79,783 (+5,900%), from €1,352 to €81,135
- Other operating charges +€40,299
up €40,299 (+270%), from €14,925 to €55,224
- Financial charges -€19,704
down €19,704 (-22.0%), from €89,664 to €69,960
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 | €2,770,220 | €2,857,499 | +€87,279 | +3.2% |
| Fixed assets | 21/28 | €258,743 | €165,861 | -€92,882 | -35.9% |
| Intangible fixed assets | 21 | €39,575 | €40,944 | +€1,368 | +3.5% |
| Tangible fixed assets | 22/27 | €219,168 | €124,918 | -€94,250 | -43.0% |
| Plant, machinery and equipment | 23 | €5,967 | €4,363 | -€1,604 | -26.9% |
| Furniture and vehicles | 24 | €195,905 | €107,871 | -€88,034 | -44.9% |
| Other tangible fixed assets | 26 | €17,296 | €12,683 | -€4,612 | -26.7% |
| Current assets | 29/58 | €2,511,476 | €2,691,638 | +€180,162 | +7.2% |
| Stocks and contracts in progress | 3 | €1,334,284 | €1,672,005 | +€337,721 | +25.3% |
| Stocks | 30/36 | €1,334,284 | €1,672,005 | +€337,721 | +25.3% |
| Amounts receivable within one year | 40/41 | €1,094,533 | €950,450 | -€144,083 | -13.2% |
| Trade receivables | 40 | €137,467 | €333,945 | +€196,478 | +143% |
| Other amounts receivable | 41 | €957,066 | €616,505 | -€340,561 | -35.6% |
| Cash at bank and in hand | 54/58 | €10,308 | €48,877 | +€38,569 | +374% |
| Deferred charges and accrued income | 490/1 | €72,352 | €20,306 | -€52,045 | -71.9% |
| Total equity and liabilities | 10/49 | €2,770,220 | €2,857,499 | +€87,279 | +3.2% |
| Equity | 10/15 | -€22,276 | €205,909 | +€228,185 | |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | - | €75,780 | +€75,780 | |
| Tax-exempt reserves | 132 | - | €75,780 | +€75,780 | |
| Profit (loss) carried forward | 14 | -€32,276 | €120,129 | +€152,405 | |
| Amounts payable | 17/49 | €2,792,496 | €2,651,590 | -€140,906 | -5.0% |
| Amounts payable after more than one year | 17 | €39,619 | €19,318 | -€20,302 | -51.2% |
| Financial debts | 170/4 | €39,619 | €19,318 | -€20,302 | -51.2% |
| Amounts payable within one year | 42/48 | €2,739,106 | €2,632,273 | -€106,833 | -3.9% |
| Current portion of amounts payable after more than one year | 42 | €1,792,895 | €1,370,302 | -€422,593 | -23.6% |
| Financial debts | 43 | €109,171 | €256,830 | +€147,659 | +135% |
| Credit institutions | 430/8 | €109,171 | €256,830 | +€147,659 | +135% |
| Trade debts | 44 | €440,724 | €558,128 | +€117,404 | +26.6% |
| Suppliers | 440/4 | €440,724 | €558,128 | +€117,404 | +26.6% |
| Taxes, remuneration and social security | 45 | €91,066 | €147,013 | +€55,947 | +61.4% |
| Taxes | 450/3 | €1,642 | €65,006 | +€63,365 | +3,860% |
| Remuneration and social security | 454/9 | €89,425 | €82,007 | -€7,418 | -8.3% |
| Other amounts payable | 47/48 | €305,250 | €300,000 | -€5,250 | -1.7% |
| Accrued charges and deferred income | 492/3 | €13,771 | €0 | -€13,771 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €880,431 | €725,088 | -€155,343 | -17.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,558 | €38,918 | +€10,359 | +36.3% |
| Other operating charges | 640/8 | €14,925 | €55,224 | +€40,299 | +270% |
| Gross operating margin | 9900 | €1,090,785 | €1,182,759 | +€91,974 | +8.4% |
| Operating profit (loss) | 9901 | €166,871 | €363,530 | +€196,659 | +118% |
| Financial income | 75/76B | €6,190 | €15,751 | +€9,561 | +154% |
| Recurring financial income | 75 | €6,190 | €15,751 | +€9,561 | +154% |
| Financial charges | 65/66B | €89,664 | €69,960 | -€19,704 | -22.0% |
| Recurring financial charges | 65 | €89,664 | €69,960 | -€19,704 | -22.0% |
| Profit (loss) for the period before taxes | 9903 | €83,397 | €309,320 | +€225,924 | +271% |
| Income taxes | 67/77 | €1,352 | €81,135 | +€79,783 | +5,900% |
| Profit (loss) for the period | 9904 | €82,044 | €228,185 | +€146,141 | +178% |
| Transfer to tax-exempt reserves | 689 | - | €75,780 | +€75,780 | |
| Profit (loss) for the period to be appropriated | 9905 | €82,044 | €152,405 | +€70,361 | +85.8% |
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 21 October 2026 via checked.be.