Feluy M2M: 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.
What changed
Feluy M2M
NACE 39.000, Remediation activities and other waste management service activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€48,214
2024 · -€29,986+€78,200
Equity
-€10,364
2024 · -€58,578+€48,214
Cash
€62,371
2024 · €47,505+€14,867
Balance sheet total
€15.3m
2024 · €14.8m+€468,741
Largest movements
Assets
- Stocks and contracts +€559,841
up €559,841 (+9.0%), from €6.2m to €6.8m
Equity and liabilities
- Advances received +€1.0m
new in 2025: €1.0m
- Short-term financial debts -€400,000
down €400,000 (-14.8%), from €2.7m to €2.3m
- Tax, wage and social debts -€325,689
down €325,689 (-94.0%), from €346,381 to €20,693
- Trade debts +€160,372
up €160,372 (+87.9%), from €182,491 to €342,863
Income statement
- Other operating income -€1.2m
no longer reported in 2025 (was €1.2m)
- Gross operating margin +€406,993
new in 2025: €406,993
- Goods and materials -€357,439
no longer reported in 2025 (was €357,439)
of which Purchases: -€1.8m
- Other operating charges -€333,634
down €333,634 (-72.8%), from €457,990 to €124,356
- Services and other goods -€316,279
no longer reported in 2025 (was €316,279)
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
-€29,986
Turnover
-€161,921
Other operating income
-€1.2m
Goods and materials
+€357,439
Services and other goods
+€316,279
Other operating charges
+€333,634
Other operating items
+€406,993
Financial charges
+€47,413
Result 2025
€48,214
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€414,867
Investment
€0
Financing
-€400,000
Cash 2024
€47,505
From operations (derived)
+€414,867
Net result for the year
+€48,214
Stocks and contracts
-€559,841
Receivables within one year
+€40,417
Deferred charges and accrued income
+€65,550
Trade debts
+€160,372
Tax, wage and social debts
-€325,689
Advances received
+€1.0m
Accrued charges and deferred income
-€14,156
Financing
-€400,000
Short-term financial debts
-€400,000
Cash 2025
€62,371
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,849,615 | €15,318,357 | +€468,741 | +3.2% |
| Current assets | 29/58 | €14,849,615 | €15,318,357 | +€468,741 | +3.2% |
| Stocks and contracts in progress | 3 | €6,193,771 | €6,753,613 | +€559,841 | +9.0% |
| Stocks | 30/36 | €6,193,771 | €6,753,613 | +€559,841 | +9.0% |
| Property held for sale | 35 | €6,193,771 | - | -€6.2m | |
| Amounts receivable within one year | 40/41 | €8,542,789 | €8,502,373 | -€40,417 | -0.5% |
| Trade receivables | 40 | €84,427 | €44,010 | -€40,417 | -47.9% |
| Other amounts receivable | 41 | €8,458,363 | €8,458,363 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €47,505 | €62,371 | +€14,867 | +31.3% |
| Deferred charges and accrued income | 490/1 | €65,550 | - | -€65,550 | |
| Total equity and liabilities | 10/49 | €14,849,615 | €15,318,357 | +€468,741 | +3.2% |
| Equity | 10/15 | -€58,578 | -€10,364 | +€48,214 | +82.3% |
| Contributions | 10/11 | €700,000 | €700,000 | = | 0.0% |
| Capital | 10 | €700,000 | €700,000 | = | 0.0% |
| Issued capital | 100 | €700,000 | €700,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€758,578 | -€710,364 | +€48,214 | +6.4% |
| Amounts payable | 17/49 | €14,908,194 | €15,328,721 | +€420,527 | +2.8% |
| Amounts payable after more than one year | 17 | €3,200,000 | €3,200,000 | = | 0.0% |
| Financial debts | 170/4 | €3,200,000 | €3,200,000 | = | 0.0% |
| Subordinated loans | 170 | €1,200,000 | - | -€1.2m | |
| Credit institutions | 173 | €2,000,000 | - | -€2.0m | |
| Amounts payable within one year | 42/48 | €3,228,873 | €3,663,556 | +€434,683 | +13.5% |
| Financial debts | 43 | €2,700,000 | €2,300,000 | -€400,000 | -14.8% |
| Credit institutions | 430/8 | €2,700,000 | €2,300,000 | -€400,000 | -14.8% |
| Trade debts | 44 | €182,491 | €342,863 | +€160,372 | +87.9% |
| Suppliers | 440/4 | €182,491 | €342,863 | +€160,372 | +87.9% |
| Advances received on contracts in progress | 46 | - | €1,000,000 | +€1.0m | |
| Taxes, remuneration and social security | 45 | €346,381 | €20,693 | -€325,689 | -94.0% |
| Taxes | 450/3 | €346,381 | €20,693 | -€325,689 | -94.0% |
| Accrued charges and deferred income | 492/3 | €8,479,321 | €8,465,165 | -€14,156 | -0.2% |
| Operating income | 70/76A | €1,383,559 | - | -€1.4m | |
| Turnover | 70 | €161,921 | - | -€161,921 | |
| Other operating income | 74 | €1,221,637 | - | -€1.2m | |
| Operating charges | 60/66A | €1,131,708 | - | -€1.1m | |
| Goods for resale, raw materials and consumables | 60 | €357,439 | - | -€357,439 | |
| Purchases | 600/8 | €1,828,049 | - | -€1.8m | |
| Change in stocks: decrease (increase) | 609 | -€1,470,609 | - | +€1.5m | |
| Services and other goods | 61 | €316,279 | - | -€316,279 | |
| Other operating charges | 640/8 | €457,990 | €124,356 | -€333,634 | -72.8% |
| Gross operating margin | 9900 | - | €406,993 | +€406,993 | |
| Operating profit (loss) | 9901 | €251,851 | €282,638 | +€30,787 | +12.2% |
| Financial charges | 65/66B | €281,837 | €234,423 | -€47,413 | -16.8% |
| Recurring financial charges | 65 | €281,837 | €234,423 | -€47,413 | -16.8% |
| Debt charges | 650 | €281,837 | - | -€281,837 | |
| Profit (loss) for the period before taxes | 9903 | -€29,986 | €48,214 | +€78,200 | |
| Profit (loss) for the period | 9904 | -€29,986 | €48,214 | +€78,200 | |
| Profit (loss) for the period to be appropriated | 9905 | -€29,986 | €48,214 | +€78,200 |
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 26 October 2026 via checked.be.