Fenfan: 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.
Fenfan
Largest movements
- Cash +€66,873
up €66,873 (+176%), from €37,977 to €104,851
mainly Net result for the year (+€64,892) and Receivables after one year (+€40,000)
- Receivables after one year -€40,000
down €40,000 (-40.0%), from €100,000 to €60,000
- Receivables within one year +€9,986
up €9,986 (+72.9%), from €13,691 to €23,677
of which Trade receivables: +€5,275
- Tangible fixed assets +€6,690
up €6,690 (+64.0%), from €10,449 to €17,139
of which Other tangible fixed assets: +€4,000
- Other debts +€32,692
up €32,692 (+3,662%), from €893 to €33,585
- Reserves +€31,307
up €31,307 (+18.4%), from €170,195 to €201,501
- Tax, wage and social debts -€26,656
down €26,656 (-46.8%), from €56,914 to €30,258
- Trade debts +€6,039
up €6,039 (+245%), from €2,464 to €8,503
- Gross operating margin -€2,967
down €2,967 (-3.3%), from €91,273 to €88,306
- Financial income +€1,391
up €1,391 (+69.7%), from €1,994 to €3,386
- Depreciation -€1,205
down €1,205 (-49.8%), from €2,421 to €1,216
- Other operating charges +€1,142
new in 2025: €1,142
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 | €233,466 | €276,848 | +€43,382 | +18.6% |
| Fixed assets | 21/28 | €10,449 | €17,139 | +€6,690 | +64.0% |
| Tangible fixed assets | 22/27 | €10,449 | €17,139 | +€6,690 | +64.0% |
| Furniture and vehicles | 24 | €1,509 | €4,199 | +€2,690 | +178% |
| Other tangible fixed assets | 26 | €8,940 | €12,940 | +€4,000 | +44.7% |
| Current assets | 29/58 | €223,017 | €259,709 | +€36,692 | +16.5% |
| Amounts receivable after more than one year | 29 | €100,000 | €60,000 | -€40,000 | -40.0% |
| Other amounts receivable | 291 | €100,000 | €60,000 | -€40,000 | -40.0% |
| Amounts receivable within one year | 40/41 | €13,691 | €23,677 | +€9,986 | +72.9% |
| Trade receivables | 40 | €13,691 | €18,966 | +€5,275 | +38.5% |
| Other amounts receivable | 41 | - | €4,711 | +€4,711 | |
| Current investments | 50/53 | €70,000 | €70,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €37,977 | €104,851 | +€66,873 | +176% |
| Deferred charges and accrued income | 490/1 | €1,348 | €1,181 | -€167 | -12.4% |
| Total equity and liabilities | 10/49 | €233,466 | €276,848 | +€43,382 | +18.6% |
| Equity | 10/15 | €173,195 | €204,501 | +€31,307 | +18.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €170,195 | €201,501 | +€31,307 | +18.4% |
| Distributable reserves | 133 | €170,195 | €201,501 | +€31,307 | +18.4% |
| Amounts payable | 17/49 | €60,271 | €72,346 | +€12,075 | +20.0% |
| Amounts payable within one year | 42/48 | €60,271 | €72,346 | +€12,075 | +20.0% |
| Trade debts | 44 | €2,464 | €8,503 | +€6,039 | +245% |
| Suppliers | 440/4 | €2,464 | €8,503 | +€6,039 | +245% |
| Taxes, remuneration and social security | 45 | €56,914 | €30,258 | -€26,656 | -46.8% |
| Taxes | 450/3 | €56,914 | €30,258 | -€26,656 | -46.8% |
| Other amounts payable | 47/48 | €893 | €33,585 | +€32,692 | +3,662% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,421 | €1,216 | -€1,205 | -49.8% |
| Other operating charges | 640/8 | - | €1,142 | +€1,142 | |
| Gross operating margin | 9900 | €91,273 | €88,306 | -€2,967 | -3.3% |
| Operating profit (loss) | 9901 | €88,852 | €85,947 | -€2,904 | -3.3% |
| Financial income | 75/76B | €1,994 | €3,386 | +€1,391 | +69.7% |
| Recurring financial income | 75 | €1,994 | €3,386 | +€1,391 | +69.7% |
| Financial charges | 65/66B | €89 | €81 | -€8 | -8.6% |
| Recurring financial charges | 65 | €89 | €81 | -€8 | -8.6% |
| Profit (loss) for the period before taxes | 9903 | €90,757 | €89,252 | -€1,505 | -1.7% |
| Income taxes | 67/77 | €24,780 | €24,360 | -€420 | -1.7% |
| Profit (loss) for the period | 9904 | €65,977 | €64,892 | -€1,085 | -1.6% |
| Transfer from tax-exempt reserves | 789 | - | €33,585 | +€33,585 | |
| Profit (loss) for the period to be appropriated | 9905 | €65,977 | €98,477 | +€32,500 | +49.3% |
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 18 October 2026 via checked.be.