FELIZAR: 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.
FELIZAR
Largest movements
- Receivables after one year -€80,000
down €80,000 (-100.0%), from €80,000 to €0
- Current investments +€50,000
up €50,000 (+25.0%), from €200,000 to €250,000
- Receivables within one year -€17,073
down €17,073 (-30.2%), from €56,611 to €39,538
of which Trade receivables: -€20,125
- Cash +€8,314
up €8,314 (+7.0%), from €118,329 to €126,643
mainly Other debts (+€107,762) and Net result for the year (+€91,590)
- Tangible fixed assets +€6,825
up €6,825 (+51.1%), from €13,368 to €20,194
of which Land and buildings: +€4,578
- Other debts +€107,762
up €107,762 (+53.5%), from €201,335 to €309,097
- Reserves -€107,191
down €107,191 (-54.4%), from €197,156 to €89,965
of which Distributable reserves: -€107,191
- Tax, wage and social debts -€31,465
down €31,465 (-58.4%), from €53,859 to €22,395
of which Taxes: -€27,465
- Gross operating margin -€5,233
down €5,233 (-4.3%), from €121,779 to €116,547
- Financial income +€2,468
up €2,468 (+29.9%), from €8,251 to €10,719
- Depreciation +€1,534
up €1,534 (+54.9%), from €2,793 to €4,327
- Financial charges +€1,418
up €1,418 (+130.5%), from €1,087 to €2,505
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 | €477,896 | €449,841 | -€28,055 | -5.9% |
| Fixed assets | 21/28 | €13,368 | €20,194 | +€6,825 | +51.1% |
| Tangible fixed assets | 22/27 | €13,368 | €20,194 | +€6,825 | +51.1% |
| Land and buildings | 22 | €2,876 | €7,454 | +€4,578 | +159.2% |
| Furniture and vehicles | 24 | €10,493 | €12,740 | +€2,247 | +21.4% |
| Current assets | 29/58 | €464,527 | €429,647 | -€34,880 | -7.5% |
| Amounts receivable after more than one year | 29 | €80,000 | €0 | -€80,000 | -100.0% |
| Other amounts receivable | 291 | €80,000 | €0 | -€80,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €56,611 | €39,538 | -€17,073 | -30.2% |
| Trade receivables | 40 | €50,605 | €30,480 | -€20,125 | -39.8% |
| Other amounts receivable | 41 | €6,006 | €9,058 | +€3,052 | +50.8% |
| Current investments | 50/53 | €200,000 | €250,000 | +€50,000 | +25.0% |
| Cash at bank and in hand | 54/58 | €118,329 | €126,643 | +€8,314 | +7.0% |
| Deferred charges and accrued income | 490/1 | €9,587 | €13,466 | +€3,879 | +40.5% |
| Total equity and liabilities | 10/49 | €477,896 | €449,841 | -€28,055 | -5.9% |
| Equity | 10/15 | €215,756 | €108,565 | -€107,191 | -49.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €197,156 | €89,965 | -€107,191 | -54.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €195,296 | €88,105 | -€107,191 | -54.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €262,140 | €341,276 | +€79,137 | +30.2% |
| Amounts payable within one year | 42/48 | €262,140 | €337,326 | +€75,187 | +28.7% |
| Trade debts | 44 | €6,945 | €5,834 | -€1,111 | -16.0% |
| Suppliers | 440/4 | €6,945 | €5,834 | -€1,111 | -16.0% |
| Taxes, remuneration and social security | 45 | €53,859 | €22,395 | -€31,465 | -58.4% |
| Taxes | 450/3 | €49,859 | €22,395 | -€27,465 | -55.1% |
| Remuneration and social security | 454/9 | €4,000 | €0 | -€4,000 | -100.0% |
| Other amounts payable | 47/48 | €201,335 | €309,097 | +€107,762 | +53.5% |
| Accrued charges and deferred income | 492/3 | - | €3,950 | +€3,950 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,793 | €4,327 | +€1,534 | +54.9% |
| Other operating charges | 640/8 | €1,546 | €1,559 | +€14 | +0.9% |
| Gross operating margin | 9900 | €121,779 | €116,547 | -€5,233 | -4.3% |
| Operating profit (loss) | 9901 | €117,440 | €110,660 | -€6,780 | -5.8% |
| Financial income | 75/76B | €8,251 | €10,719 | +€2,468 | +29.9% |
| Recurring financial income | 75 | €8,251 | €10,719 | +€2,468 | +29.9% |
| Financial charges | 65/66B | €1,087 | €2,505 | +€1,418 | +130.5% |
| Recurring financial charges | 65 | €1,087 | €2,505 | +€1,418 | +130.5% |
| Profit (loss) for the period before taxes | 9903 | €124,604 | €118,874 | -€5,731 | -4.6% |
| Income taxes | 67/77 | €28,404 | €27,284 | -€1,120 | -3.9% |
| Profit (loss) for the period | 9904 | €96,200 | €91,590 | -€4,611 | -4.8% |
| Profit (loss) for the period to be appropriated | 9905 | €96,200 | €91,590 | -€4,611 | -4.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.