FENEKO: what changed
Two fiscal 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
FENEKO
NACE 25.920, Manufacture of fabricated metal products, except machinery and equipment
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€743,794
2024 · €1.2m-€462,434
Equity
€10.4m
2024 · €9.7m+€693,713
Cash
€4.0m
2024 · €3.0m+€1.0m
Balance sheet total
€12.6m
2024 · €11.3m+€1.2m
Largest movements
Assets
- Cash +€1.0m
up €1.0m (+33.9%), from €3.0m to €4.0m
mainly Net result for the year (+€743,794) and Depreciation (+€620,426)
- Receivables within one year +€775,906
up €775,906 (+26.6%), from €2.9m to €3.7m
of which Other amounts receivable: +€751,106
- Stocks and contracts -€241,036
down €241,036 (-7.6%), from €3.2m to €2.9m
of which Contracts in progress: -€163,405
- Tangible fixed assets -€227,064
down €227,064 (-11.2%), from €2.0m to €1.8m
of which Land and buildings: -€170,251
Equity and liabilities
- Trade debts +€568,607
up €568,607 (+92.3%), from €615,783 to €1.2m
- Profit (loss) carried forward +€366,108
up €366,108 (+4.3%), from €8.6m to €8.9m
- Reserves +€335,013
up €335,013 (+30.6%), from €1.1m to €1.4m
of which Tax-exempt reserves: +€335,013
- Tax, wage and social debts +€166,112
up €166,112 (+51.8%), from €320,483 to €486,595
of which Remuneration and social security: +€200,370
- Short-term financial debts -€147,866
down €147,866 (-99.7%), from €148,243 to €377
Income statement
No income-statement line moved by more than 1% of the activity.
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
€1.2m
Turnover
+€36,202
Other operating income
-€96,468
Goods and materials
-€189,260
Services and other goods
-€198,246
Staff costs
+€86,552
Depreciation
+€89,568
Write-downs
-€38,070
Other operating charges
-€44,476
Other operating items
-€230,014
Financial income
+€1,285
Financial charges
+€3,809
Taxes
+€116,684
Result 2025
€743,794
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.
From operations
+€1.6m
Investment
-€379,512
Financing
-€197,947
Cash 2024
€3.0m
From operations (derived)
+€1.6m
Net result for the year
+€743,794
Depreciation
+€620,426
Stocks and contracts
+€241,036
Receivables within one year
-€775,906
Deferred charges and accrued income
+€84,431
Provisions
-€7,896
Trade debts
+€568,607
Tax, wage and social debts
+€166,112
Other debts
+€11,467
Accrued charges and deferred income
-€60,531
Investment (derived)
-€379,512
Investment in fixed assets (net)
-€379,512
Financing
-€197,947
Short-term financial debts
-€147,866
Contributions, distributions and other
-€50,082
Cash 2025
€4.0m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,328,229 | €12,551,835 | +€1.2m | +10.8% |
| Fixed assets | 21/28 | €2,053,089 | €1,812,174 | -€240,914 | -11.7% |
| Intangible fixed assets | 21 | €23,835 | €9,986 | -€13,850 | -58.1% |
| Tangible fixed assets | 22/27 | €2,029,253 | €1,802,189 | -€227,064 | -11.2% |
| Land and buildings | 22 | €1,111,992 | €941,741 | -€170,251 | -15.3% |
| Plant, machinery and equipment | 23 | €505,707 | €492,791 | -€12,916 | -2.6% |
| Furniture and vehicles | 24 | €388,600 | €350,943 | -€37,657 | -9.7% |
| Other tangible fixed assets | 26 | €22,954 | €16,714 | -€6,241 | -27.2% |
| Current assets | 29/58 | €9,275,140 | €10,739,660 | +€1.5m | +15.8% |
| Stocks and contracts in progress | 3 | €3,179,005 | €2,937,969 | -€241,036 | -7.6% |
| Stocks | 30/36 | €2,792,397 | €2,714,766 | -€77,631 | -2.8% |
| Goods purchased for resale | 34 | €2,792,397 | €2,714,766 | -€77,631 | -2.8% |
| Contracts in progress | 37 | €386,608 | €223,203 | -€163,405 | -42.3% |
| Amounts receivable within one year | 40/41 | €2,921,710 | €3,697,616 | +€775,906 | +26.6% |
| Trade receivables | 40 | €2,588,766 | €2,613,565 | +€24,799 | +1.0% |
| Other amounts receivable | 41 | €332,944 | €1,084,051 | +€751,106 | +225.6% |
| Cash at bank and in hand | 54/58 | €2,994,866 | €4,008,947 | +€1.0m | +33.9% |
| Deferred charges and accrued income | 490/1 | €179,560 | €95,129 | -€84,431 | -47.0% |
| Total equity and liabilities | 10/49 | €11,328,229 | €12,551,835 | +€1.2m | +10.8% |
| Equity | 10/15 | €9,735,011 | €10,428,723 | +€693,713 | +7.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,093,959 | €1,428,971 | +€335,013 | +30.6% |
| Tax-exempt reserves | 132 | €529,219 | €864,231 | +€335,013 | +63.3% |
| Distributable reserves | 133 | €564,740 | €564,740 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,560,436 | €8,926,544 | +€366,108 | +4.3% |
| Investment grants | 15 | €62,016 | €54,608 | -€7,408 | -11.9% |
| Provisions and deferred taxes | 16 | €45,370 | €37,474 | -€7,896 | -17.4% |
| Deferred taxes | 168 | €45,370 | €37,474 | -€7,896 | -17.4% |
| Amounts payable | 17/49 | €1,547,849 | €2,085,638 | +€537,789 | +34.7% |
| Amounts payable within one year | 42/48 | €1,128,900 | €1,727,220 | +€598,320 | +53.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €148,243 | €377 | -€147,866 | -99.7% |
| Credit institutions | 430/8 | €148,243 | €377 | -€147,866 | -99.7% |
| Trade debts | 44 | €615,783 | €1,184,390 | +€568,607 | +92.3% |
| Suppliers | 440/4 | €615,783 | €1,184,390 | +€568,607 | +92.3% |
| Taxes, remuneration and social security | 45 | €320,483 | €486,595 | +€166,112 | +51.8% |
| Taxes | 450/3 | €134,287 | €100,029 | -€34,258 | -25.5% |
| Remuneration and social security | 454/9 | €186,196 | €386,566 | +€200,370 | +107.6% |
| Other amounts payable | 47/48 | €44,391 | €55,858 | +€11,467 | +25.8% |
| Accrued charges and deferred income | 492/3 | €418,949 | €358,418 | -€60,531 | -14.4% |
| Operating income | 70/76A | €27,218,351 | €26,922,541 | -€295,810 | -1.1% |
| Turnover | 70 | €26,630,346 | €26,666,548 | +€36,202 | +0.1% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €89,336 | -€163,405 | -€252,741 | |
| Other operating income | 74 | €487,584 | €391,115 | -€96,468 | -19.8% |
| Non-recurring operating income | 76A | €11,086 | €28,283 | +€17,197 | +155.1% |
| Operating charges | 60/66A | €25,561,694 | €25,850,095 | +€288,401 | +1.1% |
| Goods for resale, raw materials and consumables | 60 | €13,738,826 | €13,928,086 | +€189,260 | +1.4% |
| Purchases | 600/8 | €13,500,626 | €13,850,455 | +€349,829 | +2.6% |
| Change in stocks: decrease (increase) | 609 | €238,200 | €77,631 | -€160,569 | -67.4% |
| Services and other goods | 61 | €6,310,198 | €6,508,444 | +€198,246 | +3.1% |
| Remuneration, social security and pensions | 62 | €4,616,087 | €4,529,535 | -€86,552 | -1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €709,993 | €620,426 | -€89,568 | -12.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,481 | €41,551 | +€38,070 | +1093.6% |
| Other operating charges | 640/8 | €177,578 | €222,053 | +€44,476 | +25.0% |
| Non-recurring operating charges | 66A | €5,529 | €0 | -€5,529 | -100.0% |
| Operating profit (loss) | 9901 | €1,656,658 | €1,072,446 | -€584,211 | -35.3% |
| Financial income | 75/76B | €72,627 | €73,912 | +€1,285 | +1.8% |
| Recurring financial income | 75 | €72,627 | €73,912 | +€1,285 | +1.8% |
| Income from financial fixed assets | 750 | - | €6,667 | +€6,667 | |
| Other financial income | 752/9 | €72,627 | €67,245 | -€5,382 | -7.4% |
| Financial charges | 65/66B | €102,937 | €99,128 | -€3,809 | -3.7% |
| Recurring financial charges | 65 | €102,937 | €99,128 | -€3,809 | -3.7% |
| Debt charges | 650 | €13,854 | €11,461 | -€2,393 | -17.3% |
| Other financial charges | 652/9 | €89,083 | €87,667 | -€1,416 | -1.6% |
| Profit (loss) for the period before taxes | 9903 | €1,626,348 | €1,047,230 | -€579,118 | -35.6% |
| Transfer from deferred taxes | 780 | €7,896 | €7,896 | -€0 | 0.0% |
| Income taxes | 67/77 | €428,015 | €311,331 | -€116,684 | -27.3% |
| Taxes | 670/3 | €428,015 | €311,331 | -€116,684 | -27.3% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €1,206,228 | €743,794 | -€462,434 | -38.3% |
| Transfer from tax-exempt reserves | 789 | €23,687 | €23,687 | -€0 | 0.0% |
| Transfer to tax-exempt reserves | 689 | €393,119 | €358,700 | -€34,419 | -8.8% |
| Profit (loss) for the period to be appropriated | 9905 | €836,796 | €408,782 | -€428,014 | -51.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.