FELMEI: 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.
FELMEI
Largest movements
- Tangible fixed assets -€40,515
down €40,515 (-19.6%), from €206,913 to €166,398
of which Furniture and vehicles: -€34,296
- Receivables within one year +€15,635
up €15,635 (+41.2%), from €37,907 to €53,542
of which Trade receivables: +€15,209
- Cash -€6,838
down €6,838 (-46.9%), from €14,592 to €7,755
mainly Debts after one year (-€43,339) and Receivables within one year (-€15,635)
- Debts after one year -€43,339
down €43,339 (-47.4%), from €91,443 to €48,104
- Trade debts +€32,933
up €32,933 (+108.5%), from €30,350 to €63,284
- Profit (loss) carried forward -€12,492
down €12,492 (-37.7%), from -€33,132 to -€45,624
- Tax, wage and social debts -€9,538
down €9,538 (-38.6%), from €24,723 to €15,185
of which Remuneration and social security: -€11,831
- Gross operating margin -€48,040
down €48,040 (-28.7%), from €167,561 to €119,521
- Staff costs -€13,960
down €13,960 (-15.4%), from €90,471 to €76,511
- Other operating charges -€4,230
down €4,230 (-42.7%), from €9,910 to €5,680
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 | €285,350 | €255,048 | -€30,302 | -10.6% |
| Formation expenses | 20 | €507 | €217 | -€290 | -57.2% |
| Fixed assets | 21/28 | €206,963 | €169,132 | -€37,832 | -18.3% |
| Intangible fixed assets | 21 | - | €2,684 | +€2,684 | |
| Tangible fixed assets | 22/27 | €206,913 | €166,398 | -€40,515 | -19.6% |
| Plant, machinery and equipment | 23 | €10,756 | €9,775 | -€981 | -9.1% |
| Furniture and vehicles | 24 | €164,165 | €129,869 | -€34,296 | -20.9% |
| Other tangible fixed assets | 26 | €31,992 | €26,754 | -€5,238 | -16.4% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €77,880 | €85,700 | +€7,820 | +10.0% |
| Stocks and contracts in progress | 3 | €25,380 | €24,403 | -€977 | -3.8% |
| Stocks | 30/36 | €25,380 | €24,403 | -€977 | -3.8% |
| Amounts receivable within one year | 40/41 | €37,907 | €53,542 | +€15,635 | +41.2% |
| Trade receivables | 40 | €35,438 | €50,647 | +€15,209 | +42.9% |
| Other amounts receivable | 41 | €2,469 | €2,895 | +€426 | +17.2% |
| Cash at bank and in hand | 54/58 | €14,592 | €7,755 | -€6,838 | -46.9% |
| Total equity and liabilities | 10/49 | €285,350 | €255,048 | -€30,302 | -10.6% |
| Equity | 10/15 | €10,468 | -€2,024 | -€12,492 | |
| Contributions | 10/11 | €43,600 | €43,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€33,132 | -€45,624 | -€12,492 | -37.7% |
| Amounts payable | 17/49 | €274,882 | €257,073 | -€17,809 | -6.5% |
| Amounts payable after more than one year | 17 | €91,443 | €48,104 | -€43,339 | -47.4% |
| Financial debts | 170/4 | €91,443 | €48,104 | -€43,339 | -47.4% |
| Amounts payable within one year | 42/48 | €179,889 | €204,489 | +€24,600 | +13.7% |
| Current portion of amounts payable after more than one year | 42 | €44,047 | €43,339 | -€708 | -1.6% |
| Trade debts | 44 | €30,350 | €63,284 | +€32,933 | +108.5% |
| Suppliers | 440/4 | €30,350 | €63,284 | +€32,933 | +108.5% |
| Taxes, remuneration and social security | 45 | €24,723 | €15,185 | -€9,538 | -38.6% |
| Taxes | 450/3 | €2,279 | €4,573 | +€2,294 | +100.6% |
| Remuneration and social security | 454/9 | €22,444 | €10,613 | -€11,831 | -52.7% |
| Other amounts payable | 47/48 | €80,769 | €82,681 | +€1,912 | +2.4% |
| Accrued charges and deferred income | 492/3 | €3,550 | €4,480 | +€930 | +26.2% |
| Remuneration, social security and pensions | 62 | €90,471 | €76,511 | -€13,960 | -15.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,431 | €44,865 | -€566 | -1.2% |
| Other operating charges | 640/8 | €9,910 | €5,680 | -€4,230 | -42.7% |
| Gross operating margin | 9900 | €167,561 | €119,521 | -€48,040 | -28.7% |
| Operating profit (loss) | 9901 | €21,749 | -€7,535 | -€29,285 | |
| Financial income | 75/76B | €126 | €31 | -€95 | -75.6% |
| Recurring financial income | 75 | €126 | €31 | -€95 | -75.6% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €5,623 | €4,988 | -€635 | -11.3% |
| Recurring financial charges | 65 | €5,526 | €4,988 | -€538 | -9.7% |
| Non-recurring financial charges | 66B | €97 | €0 | -€97 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €16,253 | -€12,492 | -€28,745 | |
| Profit (loss) for the period | 9904 | €16,253 | -€12,492 | -€28,745 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,253 | -€12,492 | -€28,745 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.