FENESTRAM: 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.
FENESTRAM
Largest movements
- Tangible fixed assets +€31,879
up €31,879 (+1752.4%), from €1,819 to €33,698
of which Leasing and similar rights: +€31,119
- Cash +€18,075
up €18,075 (+87.9%), from €20,559 to €38,633
mainly Debts after one year (+€24,109) and Net result for the year (+€21,793)
- Stocks and contracts +€4,500
new in 2025: €4,500
- Deferred charges and accrued income +€1,532
up €1,532 (+100.0%), from €1,532 to €3,063
- Debts after one year +€24,109
new in 2025: €24,109
- Profit (loss) carried forward +€13,849
up €13,849 (+358.5%), from €3,863 to €17,712
- Current portion of long-term debt +€6,619
up €6,619 (+780.5%), from €848 to €7,467
- Trade debts +€5,950
up €5,950 (+26.2%), from €22,740 to €28,690
- Tax, wage and social debts +€5,333
up €5,333 (+175.2%), from €3,043 to €8,377
- Gross operating margin +€26,912
up €26,912 (+358.8%), from €7,501 to €34,413
- Depreciation +€3,431
new in 2025: €3,431
- Taxes -€1,564
down €1,564 (-17.6%), from €8,893 to €7,329
- Write-downs +€472
new in 2025: €472
- Other operating charges -€436
down €436 (-36.3%), from €1,200 to €764
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 | €38,724 | €94,814 | +€56,089 | +144.8% |
| Fixed assets | 21/28 | €1,819 | €33,698 | +€31,879 | +1752.4% |
| Tangible fixed assets | 22/27 | €1,819 | €33,698 | +€31,879 | +1752.4% |
| Plant, machinery and equipment | 23 | - | €1,666 | +€1,666 | |
| Furniture and vehicles | 24 | €1,819 | €914 | -€906 | -49.8% |
| Leasing and similar rights | 25 | - | €31,119 | +€31,119 | |
| Current assets | 29/58 | €36,905 | €61,116 | +€24,211 | +65.6% |
| Stocks and contracts in progress | 3 | - | €4,500 | +€4,500 | |
| Stocks | 30/36 | - | €4,500 | +€4,500 | |
| Amounts receivable within one year | 40/41 | €14,815 | €14,919 | +€104 | +0.7% |
| Trade receivables | 40 | €12,101 | €8,636 | -€3,465 | -28.6% |
| Other amounts receivable | 41 | €2,714 | €6,283 | +€3,569 | +131.5% |
| Cash at bank and in hand | 54/58 | €20,559 | €38,633 | +€18,075 | +87.9% |
| Deferred charges and accrued income | 490/1 | €1,532 | €3,063 | +€1,532 | +100.0% |
| Total equity and liabilities | 10/49 | €38,724 | €94,814 | +€56,089 | +144.8% |
| Equity | 10/15 | €11,923 | €25,772 | +€13,849 | +116.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,863 | €17,712 | +€13,849 | +358.5% |
| Amounts payable | 17/49 | €26,801 | €69,042 | +€42,241 | +157.6% |
| Amounts payable after more than one year | 17 | - | €24,109 | +€24,109 | |
| Financial debts | 170/4 | - | €24,109 | +€24,109 | |
| Amounts payable within one year | 42/48 | €26,701 | €44,533 | +€17,832 | +66.8% |
| Current portion of amounts payable after more than one year | 42 | €848 | €7,467 | +€6,619 | +780.5% |
| Trade debts | 44 | €22,740 | €28,690 | +€5,950 | +26.2% |
| Suppliers | 440/4 | €22,740 | €28,690 | +€5,950 | +26.2% |
| Taxes, remuneration and social security | 45 | €3,043 | €8,377 | +€5,333 | +175.2% |
| Taxes | 450/3 | €3,043 | €8,377 | +€5,333 | +175.2% |
| Other amounts payable | 47/48 | €70 | - | -€70 | |
| Accrued charges and deferred income | 492/3 | €100 | €400 | +€300 | +300.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €3,431 | +€3,431 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €472 | +€472 | |
| Other operating charges | 640/8 | €1,200 | €764 | -€436 | -36.3% |
| Operating charges capitalised as restructuring costs | 649 | €0 | - | = | |
| Gross operating margin | 9900 | €7,501 | €34,413 | +€26,912 | +358.8% |
| Operating profit (loss) | 9901 | €6,301 | €29,746 | +€23,445 | +372.1% |
| Financial income | 75/76B | €41 | €78 | +€37 | +89.2% |
| Recurring financial income | 75 | €41 | €78 | +€37 | +89.2% |
| Financial charges | 65/66B | €968 | €702 | -€266 | -27.5% |
| Recurring financial charges | 65 | €968 | €702 | -€266 | -27.5% |
| Profit (loss) for the period before taxes | 9903 | €5,375 | €29,122 | +€23,748 | +441.8% |
| Income taxes | 67/77 | €8,893 | €7,329 | -€1,564 | -17.6% |
| Profit (loss) for the period | 9904 | -€3,519 | €21,793 | +€25,311 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,519 | €21,793 | +€25,311 |
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 8 October 2026 via checked.be.