Fenek: 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.
Fenek
Largest movements
- Cash -€82,814
down €82,814 (-78.0%), from €106,182 to €23,368
mainly Other debts (-€31,269) and Tax, wage and social debts (-€19,868)
- Receivables within one year +€15,360
up €15,360 (+8,182%), from €188 to €15,548
of which Other amounts receivable: +€14,936
- Other debts -€31,269
down €31,269 (-100%), from €31,269 to €0
- Tax, wage and social debts -€19,868
down €19,868 (-98.8%), from €20,112 to €244
- Trade debts -€9,667
down €9,667 (-78.1%), from €12,376 to €2,709
- Profit (loss) carried forward -€6,962
down €6,962 (-14.8%), from €46,925 to €39,963
- Gross operating margin -€66,450
down €66,450, from €62,937 to -€3,513
- Taxes -€12,538
down €12,538 (-98.1%), from €12,782 to €244
- Depreciation +€1,355
up €1,355 (+433%), from €313 to €1,667
- Financial income +€842
up €842 (+2,104,000%), from €0 to €842
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 | €111,681 | €43,915 | -€67,766 | -60.7% |
| Fixed assets | 21/28 | €4,578 | €4,545 | -€33 | -0.7% |
| Tangible fixed assets | 22/27 | €4,578 | €4,545 | -€33 | -0.7% |
| Plant, machinery and equipment | 23 | €293 | €143 | -€150 | -51.2% |
| Furniture and vehicles | 24 | €4,285 | €4,402 | +€117 | +2.7% |
| Current assets | 29/58 | €107,103 | €39,370 | -€67,733 | -63.2% |
| Amounts receivable within one year | 40/41 | €188 | €15,548 | +€15,360 | +8,182% |
| Trade receivables | 40 | - | €424 | +€424 | |
| Other amounts receivable | 41 | €188 | €15,124 | +€14,936 | +7,956% |
| Cash at bank and in hand | 54/58 | €106,182 | €23,368 | -€82,814 | -78.0% |
| Deferred charges and accrued income | 490/1 | €733 | €454 | -€279 | -38.1% |
| Total equity and liabilities | 10/49 | €111,681 | €43,915 | -€67,766 | -60.7% |
| Equity | 10/15 | €47,925 | €40,963 | -€6,962 | -14.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,925 | €39,963 | -€6,962 | -14.8% |
| Amounts payable | 17/49 | €63,756 | €2,953 | -€60,804 | -95.4% |
| Amounts payable within one year | 42/48 | €63,756 | €2,953 | -€60,804 | -95.4% |
| Trade debts | 44 | €12,376 | €2,709 | -€9,667 | -78.1% |
| Suppliers | 440/4 | €12,376 | €2,709 | -€9,667 | -78.1% |
| Taxes, remuneration and social security | 45 | €20,112 | €244 | -€19,868 | -98.8% |
| Taxes | 450/3 | €20,112 | €244 | -€19,868 | -98.8% |
| Other amounts payable | 47/48 | €31,269 | €0 | -€31,269 | -100% |
| Remuneration, social security and pensions | 62 | €156 | - | -€156 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €313 | €1,667 | +€1,355 | +433% |
| Other operating charges | 640/8 | €1,067 | €660 | -€406 | -38.1% |
| Gross operating margin | 9900 | €62,937 | -€3,513 | -€66,450 | |
| Operating profit (loss) | 9901 | €61,402 | -€5,841 | -€67,242 | |
| Financial income | 75/76B | €0 | €842 | +€842 | +2,104,000% |
| Recurring financial income | 75 | €0 | €842 | +€842 | +2,104,000% |
| Financial charges | 65/66B | €1,695 | €1,719 | +€24 | +1.4% |
| Recurring financial charges | 65 | €1,695 | €1,719 | +€24 | +1.4% |
| Profit (loss) for the period before taxes | 9903 | €59,707 | -€6,718 | -€66,425 | |
| Income taxes | 67/77 | €12,782 | €244 | -€12,538 | -98.1% |
| Profit (loss) for the period | 9904 | €46,925 | -€6,962 | -€53,887 | |
| Profit (loss) for the period to be appropriated | 9905 | €46,925 | -€6,962 | -€53,887 |
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 29 October 2026 via checked.be.