Fenego: 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
Fenego
NACE 63.910, Web portal activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€601,104
2024 · €614,952-€13,848
Equity
€2.3m
2024 · €1.9m+€349,104
Cash
€12,791
2024 · €15,229-€2,438
Balance sheet total
€3.2m
2024 · €2.8m+€451,154
Largest movements
Assets
- Receivables within one year +€424,308
up €424,308 (+15.6%), from €2.7m to €3.1m
of which Other amounts receivable: +€424,274
Equity and liabilities
- Reserves +€349,250
up €349,250 (+18.6%), from €1.9m to €2.2m
of which Distributable reserves: +€244,000
- Other debts +€104,900
up €104,900 (+61.0%), from €172,100 to €277,000
- Trade debts +€66,321
up €66,321 (+22.1%), from €300,684 to €367,005
- Tax, wage and social debts -€58,194
down €58,194 (-16.3%), from €356,077 to €297,883
of which Taxes: -€70,849
Income statement
- Gross operating margin +€313,464
up €313,464 (+12.8%), from €2.4m to €2.8m
- Staff costs +€249,446
up €249,446 (+15.1%), from €1.7m to €1.9m
- Turnover +€148,145
up €148,145 (+3.5%), from €4.3m to €4.4m
- Purchases and services -€135,513
down €135,513 (-7.3%), from €1.9m to €1.7m
- Taxes +€57,407
up €57,407 (+34.3%), from €167,213 to €224,621
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
€614,952
Gross operating margin
+€313,464
Staff costs
-€249,446
Depreciation
-€2,473
Write-downs
-€3,229
Other operating charges
+€2,165
Other operating items
+€142
Financial income
-€3,784
Financial charges
-€13,280
Taxes
-€57,407
Result 2025
€601,104
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
+€274,087
Investment
-€24,524
Financing
-€252,000
Cash 2024
€15,229
From operations (derived)
+€274,087
Net result for the year
+€601,104
Depreciation
+€21,490
Receivables within one year
-€424,308
Deferred charges and accrued income
-€26,249
Provisions
+€3,229
Trade debts
+€66,321
Tax, wage and social debts
-€58,194
Other debts
+€104,900
Accrued charges and deferred income
-€14,205
Investment (derived)
-€24,524
Investment in fixed assets (net)
-€24,524
Financing
-€252,000
Contributions, distributions and other
-€252,000
Cash 2025
€12,791
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,798,480 | €3,249,634 | +€451,154 | +16.1% |
| Fixed assets | 21/28 | €37,269 | €40,304 | +€3,035 | +8.1% |
| Tangible fixed assets | 22/27 | €37,269 | €40,304 | +€3,035 | +8.1% |
| Plant, machinery and equipment | 23 | €37,269 | €40,304 | +€3,035 | +8.1% |
| Current assets | 29/58 | €2,761,211 | €3,209,331 | +€448,120 | +16.2% |
| Amounts receivable within one year | 40/41 | €2,723,740 | €3,148,048 | +€424,308 | +15.6% |
| Trade receivables | 40 | €581,672 | €581,706 | +€34 | 0.0% |
| Other amounts receivable | 41 | €2,142,068 | €2,566,342 | +€424,274 | +19.8% |
| Cash at bank and in hand | 54/58 | €15,229 | €12,791 | -€2,438 | -16.0% |
| Deferred charges and accrued income | 490/1 | €22,242 | €48,491 | +€26,249 | +118% |
| Total equity and liabilities | 10/49 | €2,798,480 | €3,249,634 | +€451,154 | +16.1% |
| Equity | 10/15 | €1,939,319 | €2,288,423 | +€349,104 | +18.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,876,920 | €2,226,170 | +€349,250 | +18.6% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €126,300 | €231,550 | +€105,250 | +83.3% |
| Distributable reserves | 133 | €1,744,420 | €1,988,420 | +€244,000 | +14.0% |
| Profit (loss) carried forward | 14 | €399 | €253 | -€146 | -36.7% |
| Provisions and deferred taxes | 16 | - | €3,229 | +€3,229 | |
| Provisions for liabilities and charges | 160/5 | - | €3,229 | +€3,229 | |
| Pensions and similar obligations | 160 | - | €3,229 | +€3,229 | |
| Amounts payable | 17/49 | €859,161 | €957,983 | +€98,822 | +11.5% |
| Amounts payable within one year | 42/48 | €828,861 | €941,888 | +€113,027 | +13.6% |
| Trade debts | 44 | €300,684 | €367,005 | +€66,321 | +22.1% |
| Suppliers | 440/4 | €300,684 | €367,005 | +€66,321 | +22.1% |
| Taxes, remuneration and social security | 45 | €356,077 | €297,883 | -€58,194 | -16.3% |
| Taxes | 450/3 | €155,204 | €84,354 | -€70,849 | -45.6% |
| Remuneration and social security | 454/9 | €200,873 | €213,529 | +€12,655 | +6.3% |
| Other amounts payable | 47/48 | €172,100 | €277,000 | +€104,900 | +61.0% |
| Accrued charges and deferred income | 492/3 | €30,300 | €16,095 | -€14,205 | -46.9% |
| Turnover | 70 | €4,291,792 | €4,439,938 | +€148,145 | +3.5% |
| Non-recurring operating income | 76A | €207 | €596 | +€389 | +188% |
| Goods, raw materials, services and sundry goods | 60/61 | €1,853,726 | €1,718,213 | -€135,513 | -7.3% |
| Remuneration, social security and pensions | 62 | €1,650,534 | €1,899,980 | +€249,446 | +15.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,017 | €21,490 | +€2,473 | +13.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,229 | +€3,229 | |
| Other operating charges | 640/8 | €10,883 | €8,718 | -€2,165 | -19.9% |
| Non-recurring operating charges | 66A | €432 | €290 | -€142 | -32.9% |
| Gross operating margin | 9900 | €2,445,844 | €2,759,308 | +€313,464 | +12.8% |
| Operating profit (loss) | 9901 | €764,978 | €825,602 | +€60,624 | +7.9% |
| Financial income | 75/76B | €48,365 | €44,581 | -€3,784 | -7.8% |
| Recurring financial income | 75 | €48,365 | €44,581 | -€3,784 | -7.8% |
| Financial charges | 65/66B | €31,178 | €44,459 | +€13,280 | +42.6% |
| Recurring financial charges | 65 | €31,178 | €44,459 | +€13,280 | +42.6% |
| Profit (loss) for the period before taxes | 9903 | €782,165 | €825,724 | +€43,559 | +5.6% |
| Income taxes | 67/77 | €167,213 | €224,621 | +€57,407 | +34.3% |
| Profit (loss) for the period | 9904 | €614,952 | €601,104 | -€13,848 | -2.3% |
| Transfer from tax-exempt reserves | 789 | €113,670 | - | -€113,670 | |
| Transfer to tax-exempt reserves | 689 | €126,300 | €105,250 | -€21,050 | -16.7% |
| Profit (loss) for the period to be appropriated | 9905 | €602,322 | €495,854 | -€106,468 | -17.7% |
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 14 October 2026 via checked.be.