FENIKS: 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.
FENIKS
Largest movements
- Stocks and contracts -€669,210
down €669,210 (-37.7%), from €1.8m to €1.1m
- Cash -€263,602
down €263,602 (-83.4%), from €316,157 to €52,555
mainly Trade debts (-€643,468) and Current investments (-€229,787)
- Current investments +€229,787
new in 2025: €229,787
- Trade debts -€643,468
down €643,468 (-45.7%), from €1.4m to €765,708
- Profit (loss) carried forward -€206,725
new in 2025: -€206,725
- Accrued charges and deferred income +€143,199
up €143,199 (+488%), from €29,364 to €172,563
- Gross operating margin -€194,330
down €194,330, from €35,093 to -€159,236
- Financial charges +€39,226
up €39,226 (+893%), from €4,394 to €43,620
- Financial income -€23,967
no longer reported in 2025 (was €23,967)
- Taxes -€2,625
down €2,625 (-59.8%), from €4,388 to €1,762
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 | €2,093,599 | €1,390,482 | -€703,117 | -33.6% |
| Fixed assets | 21/28 | €688 | €229 | -€459 | -66.7% |
| Tangible fixed assets | 22/27 | €688 | €229 | -€459 | -66.7% |
| Furniture and vehicles | 24 | €688 | €229 | -€459 | -66.7% |
| Current assets | 29/58 | €2,092,911 | €1,390,253 | -€702,658 | -33.6% |
| Stocks and contracts in progress | 3 | €1,775,918 | €1,106,708 | -€669,210 | -37.7% |
| Stocks | 30/36 | €1,775,918 | €1,106,708 | -€669,210 | -37.7% |
| Amounts receivable within one year | 40/41 | €835 | €1,202 | +€367 | +43.9% |
| Other amounts receivable | 41 | €835 | €1,202 | +€367 | +43.9% |
| Current investments | 50/53 | - | €229,787 | +€229,787 | |
| Cash at bank and in hand | 54/58 | €316,157 | €52,555 | -€263,602 | -83.4% |
| Total equity and liabilities | 10/49 | €2,093,599 | €1,390,482 | -€703,117 | -33.6% |
| Equity | 10/15 | €423,550 | €216,825 | -€206,725 | -48.8% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €361,576 | €361,576 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €355,379 | €355,379 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€206,725 | -€206,725 | |
| Amounts payable | 17/49 | €1,670,049 | €1,173,657 | -€496,392 | -29.7% |
| Amounts payable within one year | 42/48 | €1,640,686 | €1,001,095 | -€639,591 | -39.0% |
| Trade debts | 44 | €1,409,176 | €765,708 | -€643,468 | -45.7% |
| Suppliers | 440/4 | €1,409,176 | €765,708 | -€643,468 | -45.7% |
| Taxes, remuneration and social security | 45 | €14,148 | €1,762 | -€12,386 | -87.5% |
| Taxes | 450/3 | €14,148 | €1,762 | -€12,386 | -87.5% |
| Other amounts payable | 47/48 | €217,362 | €233,625 | +€16,263 | +7.5% |
| Accrued charges and deferred income | 492/3 | €29,364 | €172,563 | +€143,199 | +488% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €459 | €459 | = | 0.0% |
| Other operating charges | 640/8 | €1,597 | €1,647 | +€50 | +3.1% |
| Gross operating margin | 9900 | €35,093 | -€159,236 | -€194,330 | |
| Operating profit (loss) | 9901 | €33,037 | -€161,342 | -€194,380 | |
| Financial income | 75/76B | €23,967 | - | -€23,967 | |
| Recurring financial income | 75 | €23,967 | - | -€23,967 | |
| Financial charges | 65/66B | €4,394 | €43,620 | +€39,226 | +893% |
| Recurring financial charges | 65 | €4,394 | €43,620 | +€39,226 | +893% |
| Profit (loss) for the period before taxes | 9903 | €52,610 | -€204,963 | -€257,573 | |
| Income taxes | 67/77 | €4,388 | €1,762 | -€2,625 | -59.8% |
| Profit (loss) for the period | 9904 | €48,222 | -€206,725 | -€254,947 | |
| Profit (loss) for the period to be appropriated | 9905 | €48,222 | -€206,725 | -€254,947 |
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 31 October 2026 via checked.be.