FENIX MANAGEMENT: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
FENIX MANAGEMENT
Largest movements
- Cash -€51,154
down €51,154 (-50.6%), from €101,004 to €49,850
mainly Contributions, distributions and other (-€93,000) and Investment in fixed assets (net) (-€53,545)
- Tangible fixed assets +€42,950
up €42,950 (+78.0%), from €55,062 to €98,011
of which Furniture and vehicles: +€36,727
- Receivables within one year -€11,231
down €11,231 (-44.1%), from €25,479 to €14,248
of which Trade receivables: -€24,995
- Other debts -€30,984
down €30,984 (-100%), from €30,984 to €0
- Trade debts -€20,970
down €20,970 (-82.4%), from €25,456 to €4,486
- Tax, wage and social debts +€20,943
up €20,943 (+105%), from €19,921 to €40,865
- Reserves +€16,000
up €16,000 (+17.2%), from €93,000 to €109,000
- Current portion of long-term debt -€6,342
down €6,342 (-100%), from €6,342 to €0
- Depreciation -€17,422
down €17,422 (-62.2%), from €28,017 to €10,595
- Taxes +€5,664
up €5,664 (+20.7%), from €27,381 to €33,045
- Financial charges -€3,175
down €3,175 (-97.4%), from €3,260 to €86
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €184,326 | €163,126 | -€21,200 | -11.5% |
| Fixed assets | 21/28 | €55,062 | €98,011 | +€42,950 | +78.0% |
| Tangible fixed assets | 22/27 | €55,062 | €98,011 | +€42,950 | +78.0% |
| Plant, machinery and equipment | 23 | €415 | €1,138 | +€722 | +174% |
| Furniture and vehicles | 24 | €38,846 | €75,572 | +€36,727 | +94.5% |
| Other tangible fixed assets | 26 | €15,801 | €21,301 | +€5,500 | +34.8% |
| Current assets | 29/58 | €129,265 | €65,115 | -€64,149 | -49.6% |
| Amounts receivable within one year | 40/41 | €25,479 | €14,248 | -€11,231 | -44.1% |
| Trade receivables | 40 | €25,479 | €483 | -€24,995 | -98.1% |
| Other amounts receivable | 41 | €0 | €13,764 | +€13,764 | |
| Cash at bank and in hand | 54/58 | €101,004 | €49,850 | -€51,154 | -50.6% |
| Deferred charges and accrued income | 490/1 | €2,782 | €1,018 | -€1,764 | -63.4% |
| Total equity and liabilities | 10/49 | €184,326 | €163,126 | -€21,200 | -11.5% |
| Equity | 10/15 | €98,553 | €114,706 | +€16,153 | +16.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €93,000 | €109,000 | +€16,000 | +17.2% |
| Distributable reserves | 133 | €93,000 | €109,000 | +€16,000 | +17.2% |
| Profit (loss) carried forward | 14 | €553 | €706 | +€153 | +27.7% |
| Amounts payable | 17/49 | €85,773 | €48,420 | -€37,353 | -43.5% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €82,704 | €45,351 | -€37,353 | -45.2% |
| Current portion of amounts payable after more than one year | 42 | €6,342 | €0 | -€6,342 | -100% |
| Trade debts | 44 | €25,456 | €4,486 | -€20,970 | -82.4% |
| Suppliers | 440/4 | €25,456 | €4,486 | -€20,970 | -82.4% |
| Taxes, remuneration and social security | 45 | €19,921 | €40,865 | +€20,943 | +105% |
| Taxes | 450/3 | €19,921 | €40,865 | +€20,943 | +105% |
| Other amounts payable | 47/48 | €30,984 | €0 | -€30,984 | -100% |
| Accrued charges and deferred income | 492/3 | €3,070 | €3,070 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,017 | €10,595 | -€17,422 | -62.2% |
| Other operating charges | 640/8 | €1,153 | €1,289 | +€136 | +11.8% |
| Gross operating margin | 9900 | €152,728 | €154,167 | +€1,440 | +0.9% |
| Operating profit (loss) | 9901 | €123,558 | €142,284 | +€18,726 | +15.2% |
| Financial income | 75/76B | €1 | €0 | -€1 | -96.5% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -96.5% |
| Financial charges | 65/66B | €3,260 | €86 | -€3,175 | -97.4% |
| Recurring financial charges | 65 | €3,260 | €86 | -€3,175 | -97.4% |
| Profit (loss) for the period before taxes | 9903 | €120,298 | €142,198 | +€21,900 | +18.2% |
| Income taxes | 67/77 | €27,381 | €33,045 | +€5,664 | +20.7% |
| Profit (loss) for the period | 9904 | €92,917 | €109,153 | +€16,236 | +17.5% |
| Profit (loss) for the period to be appropriated | 9905 | €92,917 | €109,153 | +€16,236 | +17.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.