FeNESTRA: 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.
FeNESTRA
Largest movements
- Cash +€2,368
up €2,368 (+31.9%), from €7,417 to €9,785
mainly Trade debts (+€3,504) and Receivables within one year (+€1,404)
- Receivables within one year -€1,404
no longer reported in 2025 (was €1,404)
- Tangible fixed assets -€602
down €602 (-40.6%), from €1,484 to €881
of which Furniture and vehicles: -€417
- Stocks and contracts -€130
down €130 (-48.1%), from €270 to €140
- Trade debts +€3,504
up €3,504 (+35.6%), from €9,831 to €13,336
- Profit (loss) carried forward -€1,957
down €1,957 (-2.2%), from -€89,167 to -€91,124
- Other debts -€1,169
down €1,169 (-4.0%), from €29,564 to €28,396
- Tax, wage and social debts -€124
down €124 (-0.3%), from €41,795 to €41,671
of which Taxes: -€124
- Staff costs -€23,806
down €23,806 (-98.6%), from €24,132 to €326
- Gross operating margin -€23,020
down €23,020, from €22,827 to -€193
- Depreciation -€586
down €586 (-48.5%), from €1,208 to €623
- Other operating charges -€284
down €284 (-28.3%), from €1,003 to €719
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 | €11,568 | €11,823 | +€255 | +2.2% |
| Fixed assets | 21/28 | €1,554 | €931 | -€623 | -40.1% |
| Intangible fixed assets | 21 | €20 | - | -€20 | |
| Tangible fixed assets | 22/27 | €1,484 | €881 | -€602 | -40.6% |
| Plant, machinery and equipment | 23 | €186 | - | -€186 | |
| Furniture and vehicles | 24 | €1,298 | €881 | -€417 | -32.1% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €10,015 | €10,892 | +€878 | +8.8% |
| Stocks and contracts in progress | 3 | €270 | €140 | -€130 | -48.1% |
| Stocks | 30/36 | €270 | €140 | -€130 | -48.1% |
| Amounts receivable within one year | 40/41 | €1,404 | - | -€1,404 | |
| Other amounts receivable | 41 | €1,404 | - | -€1,404 | |
| Cash at bank and in hand | 54/58 | €7,417 | €9,785 | +€2,368 | +31.9% |
| Deferred charges and accrued income | 490/1 | €924 | €967 | +€44 | +4.7% |
| Total equity and liabilities | 10/49 | €11,568 | €11,823 | +€255 | +2.2% |
| Equity | 10/15 | -€69,622 | -€71,579 | -€1,957 | -2.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €953 | €953 | = | 0.0% |
| Non-distributable reserves | 130/1 | €953 | €953 | = | 0.0% |
| Reserves not available under the articles | 1311 | €953 | €953 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€89,167 | -€91,124 | -€1,957 | -2.2% |
| Amounts payable | 17/49 | €81,191 | €83,403 | +€2,212 | +2.7% |
| Amounts payable within one year | 42/48 | €81,191 | €83,403 | +€2,212 | +2.7% |
| Trade debts | 44 | €9,831 | €13,336 | +€3,504 | +35.6% |
| Suppliers | 440/4 | €9,831 | €13,336 | +€3,504 | +35.6% |
| Taxes, remuneration and social security | 45 | €41,795 | €41,671 | -€124 | -0.3% |
| Taxes | 450/3 | €650 | €526 | -€124 | -19.0% |
| Remuneration and social security | 454/9 | €41,145 | €41,145 | = | 0.0% |
| Other amounts payable | 47/48 | €29,564 | €28,396 | -€1,169 | -4.0% |
| Remuneration, social security and pensions | 62 | €24,132 | €326 | -€23,806 | -98.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,208 | €623 | -€586 | -48.5% |
| Other operating charges | 640/8 | €1,003 | €719 | -€284 | -28.3% |
| Gross operating margin | 9900 | €22,827 | -€193 | -€23,020 | |
| Operating profit (loss) | 9901 | -€3,516 | -€1,860 | +€1,655 | +47.1% |
| Financial charges | 65/66B | €96 | €97 | +€1 | +1.0% |
| Recurring financial charges | 65 | €96 | €97 | +€1 | +1.0% |
| Profit (loss) for the period before taxes | 9903 | -€3,611 | -€1,957 | +€1,654 | +45.8% |
| Income taxes | 67/77 | €13 | - | -€13 | |
| Profit (loss) for the period | 9904 | -€3,624 | -€1,957 | +€1,667 | +46.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,624 | -€1,957 | +€1,667 | +46.0% |
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 6 October 2026 via checked.be.