FELLO: what changed
Two fiscal 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.
What changed
FELLO
NACE 47.110, Non-specialised retail sale with food, beverages or tobacco predominating
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€14,157
2024 · -€19,280+€5,123
Equity
€38,237
2024 · €52,394-€14,157
Cash
€75,525
2024 · €77,604-€2,079
Balance sheet total
€198,666
2024 · €256,634-€57,968
Largest movements
Assets
- Tangible fixed assets -€43,066
down €43,066 (-43.2%), from €99,697 to €56,632
of which Plant, machinery and equipment: -€36,550
- Deferred charges and accrued income -€9,524
down €9,524 (-63.8%), from €14,936 to €5,413
Equity and liabilities
- Debts after one year -€33,956
down €33,956 (-89.5%), from €37,956 to €4,000
- Profit (loss) carried forward -€14,157
down €14,157, from €10,353 to -€3,804
- Accrued charges and deferred income -€6,552
no longer reported in 2025 (was €6,552)
Income statement
- Turnover +€1.6m
new in 2025: €1.6m
- Purchases and services +€1.5m
new in 2025: €1.5m
- Staff costs -€79,536
down €79,536 (-42.1%), from €188,845 to €109,309
- Gross operating margin -€70,442
down €70,442 (-31.5%), from €223,759 to €153,317
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.
Result 2024
-€19,280
Gross operating margin
-€70,442
Staff costs
+€79,536
Depreciation
-€2,350
Other operating charges
-€2,166
Financial income
-€309
Financial charges
+€580
Taxes
+€273
Result 2025
-€14,157
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.
From operations
+€33,639
Investment
€0
Financing
-€35,718
Cash 2024
€77,604
From operations (derived)
+€33,639
Net result for the year
-€14,157
Depreciation
+€43,066
Stocks and contracts
+€1,018
Receivables within one year
+€2,283
Deferred charges and accrued income
+€9,524
Trade debts
-€1,118
Tax, wage and social debts
+€1,022
Other debts
-€1,446
Accrued charges and deferred income
-€6,552
Financing
-€35,718
Debts after one year
-€33,956
Current portion of long-term debt
-€1,762
Cash 2025
€75,525
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €256,634 | €198,666 | -€57,968 | -22.6% |
| Fixed assets | 21/28 | €100,477 | €57,412 | -€43,066 | -42.9% |
| Tangible fixed assets | 22/27 | €99,697 | €56,632 | -€43,066 | -43.2% |
| Plant, machinery and equipment | 23 | €82,663 | €46,113 | -€36,550 | -44.2% |
| Furniture and vehicles | 24 | €7,952 | €4,361 | -€3,591 | -45.2% |
| Other tangible fixed assets | 26 | €9,082 | €6,157 | -€2,925 | -32.2% |
| Financial fixed assets | 28 | €780 | €780 | = | 0.0% |
| Current assets | 29/58 | €156,157 | €141,254 | -€14,903 | -9.5% |
| Stocks and contracts in progress | 3 | €59,355 | €58,338 | -€1,018 | -1.7% |
| Stocks | 30/36 | €59,355 | €58,338 | -€1,018 | -1.7% |
| Amounts receivable within one year | 40/41 | €4,261 | €1,978 | -€2,283 | -53.6% |
| Trade receivables | 40 | €1,787 | €0 | -€1,787 | -100.0% |
| Other amounts receivable | 41 | €2,474 | €1,978 | -€496 | -20.0% |
| Cash at bank and in hand | 54/58 | €77,604 | €75,525 | -€2,079 | -2.7% |
| Deferred charges and accrued income | 490/1 | €14,936 | €5,413 | -€9,524 | -63.8% |
| Total equity and liabilities | 10/49 | €256,634 | €198,666 | -€57,968 | -22.6% |
| Equity | 10/15 | €52,394 | €38,237 | -€14,157 | -27.0% |
| Reserves | 13 | €42,041 | €42,041 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €40,041 | €40,041 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,353 | -€3,804 | -€14,157 | |
| Amounts payable | 17/49 | €204,240 | €160,429 | -€43,811 | -21.5% |
| Amounts payable after more than one year | 17 | €37,956 | €4,000 | -€33,956 | -89.5% |
| Financial debts | 170/4 | €37,956 | €4,000 | -€33,956 | -89.5% |
| Amounts payable within one year | 42/48 | €159,733 | €156,429 | -€3,304 | -2.1% |
| Current portion of amounts payable after more than one year | 42 | €34,403 | €32,640 | -€1,762 | -5.1% |
| Trade debts | 44 | €102,563 | €101,446 | -€1,118 | -1.1% |
| Suppliers | 440/4 | €102,563 | €101,446 | -€1,118 | -1.1% |
| Taxes, remuneration and social security | 45 | €21,223 | €22,245 | +€1,022 | +4.8% |
| Taxes | 450/3 | €2,067 | - | -€2,067 | |
| Remuneration and social security | 454/9 | €19,155 | €22,245 | +€3,090 | +16.1% |
| Other amounts payable | 47/48 | €1,544 | €98 | -€1,446 | -93.6% |
| Accrued charges and deferred income | 492/3 | €6,552 | - | -€6,552 | |
| Turnover | 70 | - | €1,601,653 | +€1.6m | |
| Non-recurring operating income | 76A | - | €28,100 | +€28,100 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €1,476,436 | +€1.5m | |
| Remuneration, social security and pensions | 62 | €188,845 | €109,309 | -€79,536 | -42.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,716 | €43,066 | +€2,350 | +5.8% |
| Other operating charges | 640/8 | €1,260 | €3,426 | +€2,166 | +171.8% |
| Gross operating margin | 9900 | €223,759 | €153,317 | -€70,442 | -31.5% |
| Operating profit (loss) | 9901 | -€7,062 | -€2,484 | +€4,578 | +64.8% |
| Financial income | 75/76B | €1,262 | €953 | -€309 | -24.5% |
| Recurring financial income | 75 | €1,262 | €953 | -€309 | -24.5% |
| Financial charges | 65/66B | €13,207 | €12,627 | -€580 | -4.4% |
| Recurring financial charges | 65 | €13,207 | €12,627 | -€580 | -4.4% |
| Profit (loss) for the period before taxes | 9903 | -€19,007 | -€14,157 | +€4,850 | +25.5% |
| Income taxes | 67/77 | €273 | €0 | -€273 | -100.0% |
| Profit (loss) for the period | 9904 | -€19,280 | -€14,157 | +€5,123 | +26.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,280 | -€14,157 | +€5,123 | +26.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.