Feng Che: 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.
Feng Che
Largest movements
- Receivables within one year +€59,872
up €59,872 (+263.5%), from €22,719 to €82,591
of which Other amounts receivable: +€57,568
- Tangible fixed assets -€26,138
down €26,138 (-26.5%), from €98,662 to €72,524
- Cash +€16,511
up €16,511 (+13.2%), from €125,554 to €142,066
mainly Net result for the year (+€54,686) and Depreciation (+€28,888)
- Stocks and contracts +€3,982
up €3,982 (+468.5%), from €850 to €4,832
- Deferred charges and accrued income +€3,586
up €3,586 (+24443.7%), from €15 to €3,601
- Reserves +€54,686
up €54,686 (+25.7%), from €213,079 to €267,764
- Trade debts +€7,040
up €7,040 (+138.6%), from €5,078 to €12,118
- Current portion of long-term debt -€5,388
no longer reported in 2025 (was €5,388)
- Gross operating margin +€30,142
up €30,142 (+39.1%), from €77,020 to €107,163
- Taxes +€7,956
up €7,956 (+59.6%), from €13,359 to €21,315
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 | €247,800 | €307,184 | +€59,384 | +24.0% |
| Fixed assets | 21/28 | €98,662 | €74,095 | -€24,568 | -24.9% |
| Intangible fixed assets | 21 | - | €1,570 | +€1,570 | |
| Tangible fixed assets | 22/27 | €98,662 | €72,524 | -€26,138 | -26.5% |
| Land and buildings | 22 | €14,343 | €12,061 | -€2,281 | -15.9% |
| Plant, machinery and equipment | 23 | €36,917 | €24,929 | -€11,988 | -32.5% |
| Furniture and vehicles | 24 | €47,403 | €35,534 | -€11,868 | -25.0% |
| Current assets | 29/58 | €149,138 | €233,089 | +€83,951 | +56.3% |
| Stocks and contracts in progress | 3 | €850 | €4,832 | +€3,982 | +468.5% |
| Stocks | 30/36 | €850 | €4,832 | +€3,982 | +468.5% |
| Amounts receivable within one year | 40/41 | €22,719 | €82,591 | +€59,872 | +263.5% |
| Trade receivables | 40 | - | €2,303 | +€2,303 | |
| Other amounts receivable | 41 | €22,719 | €80,287 | +€57,568 | +253.4% |
| Cash at bank and in hand | 54/58 | €125,554 | €142,066 | +€16,511 | +13.2% |
| Deferred charges and accrued income | 490/1 | €15 | €3,601 | +€3,586 | +24443.7% |
| Total equity and liabilities | 10/49 | €247,800 | €307,184 | +€59,384 | +24.0% |
| Equity | 10/15 | €231,679 | €286,364 | +€54,686 | +23.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €213,079 | €267,764 | +€54,686 | +25.7% |
| Distributable reserves | 133 | €213,079 | €267,764 | +€54,686 | +25.7% |
| Amounts payable | 17/49 | €16,122 | €20,820 | +€4,698 | +29.1% |
| Amounts payable within one year | 42/48 | €16,122 | €20,820 | +€4,698 | +29.1% |
| Current portion of amounts payable after more than one year | 42 | €5,388 | - | -€5,388 | |
| Trade debts | 44 | €5,078 | €12,118 | +€7,040 | +138.6% |
| Suppliers | 440/4 | €5,078 | €12,118 | +€7,040 | +138.6% |
| Taxes, remuneration and social security | 45 | €5,656 | €8,563 | +€2,907 | +51.4% |
| Taxes | 450/3 | €5,656 | €8,563 | +€2,907 | +51.4% |
| Other amounts payable | 47/48 | - | €139 | +€139 | |
| Remuneration, social security and pensions | 62 | - | €253 | +€253 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,242 | €28,888 | +€646 | +2.3% |
| Other operating charges | 640/8 | €1,439 | €1,682 | +€243 | +16.9% |
| Non-recurring operating charges | 66A | €179 | €811 | +€632 | +354.0% |
| Gross operating margin | 9900 | €77,020 | €107,163 | +€30,142 | +39.1% |
| Operating profit (loss) | 9901 | €47,161 | €75,529 | +€28,368 | +60.2% |
| Financial income | 75/76B | €3 | €547 | +€544 | +15940.8% |
| Recurring financial income | 75 | €3 | €547 | +€544 | +15940.8% |
| Financial charges | 65/66B | €203 | €75 | -€127 | -62.8% |
| Recurring financial charges | 65 | €203 | €75 | -€127 | -62.8% |
| Profit (loss) for the period before taxes | 9903 | €46,962 | €76,001 | +€29,039 | +61.8% |
| Income taxes | 67/77 | €13,359 | €21,315 | +€7,956 | +59.6% |
| Profit (loss) for the period | 9904 | €33,603 | €54,686 | +€21,082 | +62.7% |
| Profit (loss) for the period to be appropriated | 9905 | €33,603 | €54,686 | +€21,082 | +62.7% |
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 2 October 2026 via checked.be.