FELONET: 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.
FELONET
Largest movements
- Tangible fixed assets -€20,075
down €20,075 (-23.4%), from €85,615 to €65,539
of which Furniture and vehicles: -€20,328
- Receivables within one year +€11,906
up €11,906 (+41.1%), from €28,986 to €40,891
of which Trade receivables: +€11,906
- Cash -€5,642
down €5,642 (-10.9%), from €51,987 to €46,345
mainly Contributions, distributions and other (-€61,800) and Receivables within one year (-€11,906)
- Debts after one year -€9,984
down €9,984 (-32.0%), from €31,180 to €21,196
- Reserves -€8,078
down €8,078 (-8.1%), from €99,169 to €91,092
- Tax, wage and social debts +€3,971
up €3,971 (+51.1%), from €7,771 to €11,742
of which Taxes: +€3,971
- Gross operating margin +€15,737
up €15,737 (+20.7%), from €76,165 to €91,901
- Taxes +€3,330
up €3,330 (+29.6%), from €11,268 to €14,598
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 | €180,127 | €166,434 | -€13,693 | -7.6% |
| Fixed assets | 21/28 | €95,615 | €75,539 | -€20,075 | -21.0% |
| Tangible fixed assets | 22/27 | €85,615 | €65,539 | -€20,075 | -23.4% |
| Plant, machinery and equipment | 23 | €5,193 | €5,446 | +€252 | +4.9% |
| Furniture and vehicles | 24 | €80,422 | €60,094 | -€20,328 | -25.3% |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €84,512 | €90,895 | +€6,383 | +7.6% |
| Amounts receivable within one year | 40/41 | €28,986 | €40,891 | +€11,906 | +41.1% |
| Trade receivables | 40 | €27,753 | €39,659 | +€11,906 | +42.9% |
| Other amounts receivable | 41 | €1,232 | €1,232 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €51,987 | €46,345 | -€5,642 | -10.9% |
| Deferred charges and accrued income | 490/1 | €3,540 | €3,659 | +€119 | +3.3% |
| Total equity and liabilities | 10/49 | €180,127 | €166,434 | -€13,693 | -7.6% |
| Equity | 10/15 | €117,769 | €109,692 | -€8,078 | -6.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €99,169 | €91,092 | -€8,078 | -8.1% |
| Distributable reserves | 133 | €99,169 | €91,092 | -€8,078 | -8.1% |
| Amounts payable | 17/49 | €62,358 | €56,742 | -€5,615 | -9.0% |
| Amounts payable after more than one year | 17 | €31,180 | €21,196 | -€9,984 | -32.0% |
| Financial debts | 170/4 | €31,180 | €21,196 | -€9,984 | -32.0% |
| Amounts payable within one year | 42/48 | €28,900 | €32,957 | +€4,057 | +14.0% |
| Current portion of amounts payable after more than one year | 42 | €9,596 | €9,984 | +€388 | +4.0% |
| Trade debts | 44 | €834 | €1,172 | +€338 | +40.5% |
| Suppliers | 440/4 | €834 | €1,172 | +€338 | +40.5% |
| Taxes, remuneration and social security | 45 | €7,771 | €11,742 | +€3,971 | +51.1% |
| Taxes | 450/3 | €5,771 | €9,742 | +€3,971 | +68.8% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €10,699 | €10,059 | -€640 | -6.0% |
| Accrued charges and deferred income | 492/3 | €2,277 | €2,590 | +€312 | +13.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,673 | €21,407 | -€266 | -1.2% |
| Other operating charges | 640/8 | €647 | €614 | -€33 | -5.1% |
| Gross operating margin | 9900 | €76,165 | €91,901 | +€15,737 | +20.7% |
| Operating profit (loss) | 9901 | €53,845 | €69,881 | +€16,035 | +29.8% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €1,950 | €1,560 | -€390 | -20.0% |
| Recurring financial charges | 65 | €1,950 | €1,560 | -€390 | -20.0% |
| Profit (loss) for the period before taxes | 9903 | €51,895 | €68,321 | +€16,426 | +31.7% |
| Income taxes | 67/77 | €11,268 | €14,598 | +€3,330 | +29.6% |
| Profit (loss) for the period | 9904 | €40,627 | €53,722 | +€13,095 | +32.2% |
| Profit (loss) for the period to be appropriated | 9905 | €40,627 | €53,722 | +€13,095 | +32.2% |
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 10 October 2026 via checked.be.