FENERCO: 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.
FENERCO
Largest movements
- Cash +€16,972
up €16,972 (+12970.8%), from €131 to €17,103
mainly Net result for the year (+€13,364) and Tax, wage and social debts (+€8,765)
- Deferred charges and accrued income +€4,759
new in 2025: €4,759
- Receivables within one year +€2,212
up €2,212 (+287.4%), from €770 to €2,982
of which Trade receivables: +€2,932
- Profit (loss) carried forward +€13,364
up €13,364, from -€9,508 to €3,856
- Tax, wage and social debts +€8,765
up €8,765 (+1085.5%), from €807 to €9,573
- Trade debts +€3,770
up €3,770 (+534.0%), from €706 to €4,476
- Other debts -€1,956
down €1,956 (-26.5%), from €7,395 to €5,439
- Gross operating margin +€27,367
up €27,367, from -€10,375 to €16,992
- Taxes +€2,920
up €2,920 (+739.3%), from €395 to €3,315
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €901 | €24,844 | +€23,943 | +2658.7% |
| Current assets | 29/58 | €901 | €24,844 | +€23,943 | +2658.7% |
| Amounts receivable within one year | 40/41 | €770 | €2,982 | +€2,212 | +287.4% |
| Trade receivables | 40 | €50 | €2,982 | +€2,932 | +5864.0% |
| Other amounts receivable | 41 | €720 | - | -€720 | |
| Cash at bank and in hand | 54/58 | €131 | €17,103 | +€16,972 | +12970.8% |
| Deferred charges and accrued income | 490/1 | - | €4,759 | +€4,759 | |
| Total equity and liabilities | 10/49 | €901 | €24,844 | +€23,943 | +2658.7% |
| Equity | 10/15 | -€8,008 | €5,356 | +€13,364 | |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,508 | €3,856 | +€13,364 | |
| Amounts payable | 17/49 | €8,908 | €19,488 | +€10,579 | +118.8% |
| Amounts payable within one year | 42/48 | €8,908 | €19,488 | +€10,579 | +118.8% |
| Trade debts | 44 | €706 | €4,476 | +€3,770 | +534.0% |
| Suppliers | 440/4 | €706 | €4,476 | +€3,770 | +534.0% |
| Taxes, remuneration and social security | 45 | €807 | €9,573 | +€8,765 | +1085.5% |
| Taxes | 450/3 | €807 | €9,573 | +€8,765 | +1085.5% |
| Other amounts payable | 47/48 | €7,395 | €5,439 | -€1,956 | -26.5% |
| Other operating charges | 640/8 | - | €139 | +€139 | |
| Gross operating margin | 9900 | -€10,375 | €16,992 | +€27,367 | |
| Operating profit (loss) | 9901 | -€10,375 | €16,853 | +€27,228 | |
| Financial charges | 65/66B | €78 | €174 | +€96 | +123.3% |
| Recurring financial charges | 65 | €78 | €174 | +€96 | +123.3% |
| Profit (loss) for the period before taxes | 9903 | -€10,453 | €16,679 | +€27,132 | |
| Income taxes | 67/77 | €395 | €3,315 | +€2,920 | +739.3% |
| Profit (loss) for the period | 9904 | -€10,848 | €13,364 | +€24,212 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,848 | €13,364 | +€24,212 |
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 11 October 2026 via checked.be.