FELLINI: 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.
FELLINI
Largest movements
- Cash +€56,946
up €56,946 (+58.3%), from €97,749 to €154,695
mainly Current investments (+€56,034) and Depreciation (+€20,578)
- Current investments -€56,034
down €56,034 (-100%), from €56,034 to €0
- Tangible fixed assets +€27,273
up €27,273 (+14.8%), from €184,241 to €211,514
of which Furniture and vehicles: +€33,264
- Reserves +€20,196
up €20,196 (+8.7%), from €231,839 to €252,035
of which Distributable reserves: +€26,081
- Debts after one year +€17,708
up €17,708 (+169%), from €10,500 to €28,208
- Other debts -€12,407
down €12,407 (-41.3%), from €30,074 to €17,667
- Current portion of long-term debt +€7,089
up €7,089 (+78.8%), from €9,000 to €16,089
- Trade debts -€5,109
down €5,109 (-35.6%), from €14,358 to €9,249
- Depreciation +€5,564
up €5,564 (+37.1%), from €15,014 to €20,578
- Gross operating margin -€3,500
down €3,500 (-5.4%), from €65,266 to €61,766
- Staff costs -€830
down €830 (-100%), from €830 to €0
- Financial charges -€777
down €777 (-19.3%), from €4,022 to €3,245
- Other operating charges +€714
up €714 (+9.4%), from €7,614 to €8,328
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 | €377,298 | €404,198 | +€26,900 | +7.1% |
| Fixed assets | 21/28 | €184,241 | €211,514 | +€27,273 | +14.8% |
| Tangible fixed assets | 22/27 | €184,241 | €211,514 | +€27,273 | +14.8% |
| Land and buildings | 22 | €170,109 | €158,602 | -€11,507 | -6.8% |
| Plant, machinery and equipment | 23 | €10,425 | €15,942 | +€5,517 | +52.9% |
| Furniture and vehicles | 24 | €3,706 | €36,969 | +€33,264 | +898% |
| Current assets | 29/58 | €193,057 | €192,684 | -€374 | -0.2% |
| Stocks and contracts in progress | 3 | €33,819 | €33,516 | -€303 | -0.9% |
| Stocks | 30/36 | €33,819 | €33,516 | -€303 | -0.9% |
| Amounts receivable within one year | 40/41 | €2,208 | €159 | -€2,049 | -92.8% |
| Other amounts receivable | 41 | €2,208 | €159 | -€2,049 | -92.8% |
| Current investments | 50/53 | €56,034 | €0 | -€56,034 | -100% |
| Cash at bank and in hand | 54/58 | €97,749 | €154,695 | +€56,946 | +58.3% |
| Deferred charges and accrued income | 490/1 | €3,247 | €4,313 | +€1,066 | +32.8% |
| Total equity and liabilities | 10/49 | €377,298 | €404,198 | +€26,900 | +7.1% |
| Equity | 10/15 | €308,020 | €328,231 | +€20,211 | +6.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €57,500 | €57,500 | = | 0.0% |
| Reserves | 13 | €231,839 | €252,035 | +€20,196 | +8.7% |
| Tax-exempt reserves | 132 | €6,771 | €886 | -€5,886 | -86.9% |
| Distributable reserves | 133 | €225,068 | €251,149 | +€26,081 | +11.6% |
| Profit (loss) carried forward | 14 | €81 | €97 | +€15 | +18.8% |
| Provisions and deferred taxes | 16 | €1,181 | €590 | -€590 | -50.0% |
| Deferred taxes | 168 | €1,181 | €590 | -€590 | -50.0% |
| Amounts payable | 17/49 | €68,097 | €75,376 | +€7,279 | +10.7% |
| Amounts payable after more than one year | 17 | €10,500 | €28,208 | +€17,708 | +169% |
| Financial debts | 170/4 | €10,500 | €28,208 | +€17,708 | +169% |
| Amounts payable within one year | 42/48 | €57,597 | €46,949 | -€10,647 | -18.5% |
| Current portion of amounts payable after more than one year | 42 | €9,000 | €16,089 | +€7,089 | +78.8% |
| Trade debts | 44 | €14,358 | €9,249 | -€5,109 | -35.6% |
| Suppliers | 440/4 | €14,358 | €9,249 | -€5,109 | -35.6% |
| Taxes, remuneration and social security | 45 | €4,164 | €3,944 | -€220 | -5.3% |
| Taxes | 450/3 | - | €3,944 | +€3,944 | |
| Remuneration and social security | 454/9 | €4,164 | €0 | -€4,164 | -100% |
| Other amounts payable | 47/48 | €30,074 | €17,667 | -€12,407 | -41.3% |
| Accrued charges and deferred income | 492/3 | - | €219 | +€219 | |
| Remuneration, social security and pensions | 62 | €830 | €0 | -€830 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,014 | €20,578 | +€5,564 | +37.1% |
| Other operating charges | 640/8 | €7,614 | €8,328 | +€714 | +9.4% |
| Gross operating margin | 9900 | €65,266 | €61,766 | -€3,500 | -5.4% |
| Operating profit (loss) | 9901 | €41,809 | €32,860 | -€8,949 | -21.4% |
| Financial income | 75/76B | €347 | €12 | -€334 | -96.4% |
| Recurring financial income | 75 | €347 | €12 | -€334 | -96.4% |
| Financial charges | 65/66B | €4,022 | €3,245 | -€777 | -19.3% |
| Recurring financial charges | 65 | €4,022 | €3,245 | -€777 | -19.3% |
| Profit (loss) for the period before taxes | 9903 | €38,134 | €29,627 | -€8,506 | -22.3% |
| Transfer from deferred taxes | 780 | €590 | €590 | = | 0.0% |
| Income taxes | 67/77 | €9,628 | €10,007 | +€378 | +3.9% |
| Profit (loss) for the period | 9904 | €29,096 | €20,211 | -€8,885 | -30.5% |
| Transfer from tax-exempt reserves | 789 | €886 | €5,886 | +€5,000 | +565% |
| Profit (loss) for the period to be appropriated | 9905 | €29,981 | €26,097 | -€3,885 | -13.0% |
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 21 October 2026 via checked.be.