FELTIN MD: 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.
FELTIN MD
Largest movements
- Current investments +€125,000
new in 2025: €125,000
- Cash -€22,189
down €22,189 (-20.4%), from €108,869 to €86,680
mainly Current investments (-€125,000) and Other debts (-€18,041)
- Deferred charges and accrued income +€4,058
up €4,058 (+4.8%), from €84,359 to €88,417
- Reserves +€124,280
up €124,280 (+92.4%), from €134,529 to €258,808
- Other debts -€18,041
down €18,041 (-92.8%), from €19,440 to €1,400
- Trade debts -€4,269
down €4,269 (-70.7%), from €6,040 to €1,772
- Tax, wage and social debts +€3,327
up €3,327 (+9.4%), from €35,227 to €38,553
of which Taxes: +€3,327
- Gross operating margin +€14,058
up €14,058 (+9.4%), from €149,755 to €163,813
- Taxes +€3,083
up €3,083 (+9.1%), from €33,925 to €37,007
- Financial charges +€1,830
up €1,830 (+2,652%), from €69 to €1,899
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 | €196,236 | €302,103 | +€105,867 | +53.9% |
| Fixed assets | 21/28 | €2,508 | €2,006 | -€502 | -20.0% |
| Tangible fixed assets | 22/27 | €2,508 | €2,006 | -€502 | -20.0% |
| Plant, machinery and equipment | 23 | €2,508 | €2,006 | -€502 | -20.0% |
| Current assets | 29/58 | €193,728 | €300,097 | +€106,369 | +54.9% |
| Amounts receivable within one year | 40/41 | €500 | - | -€500 | |
| Trade receivables | 40 | €500 | - | -€500 | |
| Current investments | 50/53 | - | €125,000 | +€125,000 | |
| Cash at bank and in hand | 54/58 | €108,869 | €86,680 | -€22,189 | -20.4% |
| Deferred charges and accrued income | 490/1 | €84,359 | €88,417 | +€4,058 | +4.8% |
| Total equity and liabilities | 10/49 | €196,236 | €302,103 | +€105,867 | +53.9% |
| Equity | 10/15 | €135,529 | €259,808 | +€124,280 | +91.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €134,529 | €258,808 | +€124,280 | +92.4% |
| Distributable reserves | 133 | €134,529 | €258,808 | +€124,280 | +92.4% |
| Amounts payable | 17/49 | €60,707 | €42,294 | -€18,413 | -30.3% |
| Amounts payable within one year | 42/48 | €60,707 | €41,725 | -€18,983 | -31.3% |
| Trade debts | 44 | €6,040 | €1,772 | -€4,269 | -70.7% |
| Suppliers | 440/4 | €6,040 | €1,772 | -€4,269 | -70.7% |
| Taxes, remuneration and social security | 45 | €35,227 | €38,553 | +€3,327 | +9.4% |
| Taxes | 450/3 | €33,925 | €37,251 | +€3,327 | +9.8% |
| Remuneration and social security | 454/9 | €1,302 | €1,302 | = | 0.0% |
| Other amounts payable | 47/48 | €19,440 | €1,400 | -€18,041 | -92.8% |
| Accrued charges and deferred income | 492/3 | - | €570 | +€570 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1 | €502 | +€501 | +36,537% |
| Other operating charges | 640/8 | €115 | €126 | +€11 | +9.6% |
| Gross operating margin | 9900 | €149,755 | €163,813 | +€14,058 | +9.4% |
| Operating profit (loss) | 9901 | €149,639 | €163,185 | +€13,547 | +9.1% |
| Financial charges | 65/66B | €69 | €1,899 | +€1,830 | +2,652% |
| Recurring financial charges | 65 | €69 | €1,899 | +€1,830 | +2,652% |
| Profit (loss) for the period before taxes | 9903 | €149,570 | €161,287 | +€11,717 | +7.8% |
| Income taxes | 67/77 | €33,925 | €37,007 | +€3,083 | +9.1% |
| Profit (loss) for the period | 9904 | €115,645 | €124,280 | +€8,635 | +7.5% |
| Profit (loss) for the period to be appropriated | 9905 | €115,645 | €124,280 | +€8,635 | +7.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.