FENIXCO: 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.
What changed
FENIXCO
NACE 68.121, Development of residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.0m
2024 · €170,970+€834,956
Equity
€2.6m
2024 · €1.6m+€1.0m
Cash
€284,555
2024 · €330,635-€46,080
Balance sheet total
€11.5m
2024 · €10.5m+€998,773
Largest movements
Assets
- Tangible fixed assets +€1.1m
up €1.1m (+1,575%), from €71,153 to €1.2m
of which Land and buildings: +€1.1m
- Stocks and contracts -€298,376
down €298,376 (-3.4%), from €8.8m to €8.5m
of which Stocks: -€275,469
- Receivables within one year +€228,190
up €228,190 (+18.8%), from €1.2m to €1.4m
of which Trade receivables: +€1.0m
Equity and liabilities
- Advances received -€1.3m
down €1.3m (-82.4%), from €1.6m to €282,939
- Trade debts +€1.3m
up €1.3m (+81.8%), from €1.6m to €2.9m
- Short-term financial debts -€1.1m
down €1.1m (-28.4%), from €3.9m to €2.8m
- Profit (loss) carried forward +€1.0m
up €1.0m (+102%), from €983,971 to €2.0m
- Other debts +€845,805
up €845,805 (+115%), from €734,103 to €1.6m
Income statement
- Gross operating margin +€1.5m
up €1.5m (+194%), from €793,802 to €2.3m
- Write-downs +€416,248
new in 2025: €416,248
- Taxes +€330,374
up €330,374 (+1,278%), from €25,843 to €356,217
- Financial charges -€91,490
down €91,490 (-23.7%), from €385,703 to €294,214
- Depreciation +€28,248
up €28,248 (+101%), from €27,843 to €56,092
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.
Result 2024
€170,970
Gross operating margin
+€1.5m
Staff costs
-€1,989
Depreciation
-€28,248
Write-downs
-€416,248
Other operating charges
-€22,238
Other operating items
+€14,775
Financial income
-€10,202
Financial charges
+€91,490
Taxes
-€330,374
Result 2025
€1.0m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€2.2m
Investment
-€1.2m
Financing
-€1.1m
Cash 2024
€330,635
From operations (derived)
+€2.2m
Net result for the year
+€1.0m
Depreciation
+€56,092
Stocks and contracts
+€298,376
Receivables within one year
-€228,190
Deferred charges and accrued income
+€5,584
Trade debts
+€1.3m
Tax, wage and social debts
+€263,688
Advances received
-€1.3m
Other debts
+€845,805
Accrued charges and deferred income
-€1,736
Investment (derived)
-€1.2m
Investment in fixed assets (net)
-€1.2m
Financing
-€1.1m
Short-term financial debts
-€1.1m
Cash 2025
€284,555
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,467,888 | €11,466,661 | +€998,773 | +9.5% |
| Fixed assets | 21/28 | €71,603 | €1,192,226 | +€1.1m | +1,565% |
| Tangible fixed assets | 22/27 | €71,153 | €1,191,776 | +€1.1m | +1,575% |
| Land and buildings | 22 | - | €1,137,530 | +€1.1m | |
| Furniture and vehicles | 24 | €23,222 | €15,458 | -€7,764 | -33.4% |
| Other tangible fixed assets | 26 | €47,931 | €38,787 | -€9,143 | -19.1% |
| Financial fixed assets | 28 | €450 | €450 | = | 0.0% |
| Current assets | 29/58 | €10,396,286 | €10,274,436 | -€121,850 | -1.2% |
| Stocks and contracts in progress | 3 | €8,823,121 | €8,524,745 | -€298,376 | -3.4% |
| Stocks | 30/36 | €8,800,214 | €8,524,745 | -€275,469 | -3.1% |
| Contracts in progress | 37 | €22,908 | €0 | -€22,908 | -100% |
| Amounts receivable within one year | 40/41 | €1,215,189 | €1,443,379 | +€228,190 | +18.8% |
| Trade receivables | 40 | €352,518 | €1,382,696 | +€1.0m | +292% |
| Other amounts receivable | 41 | €862,671 | €60,683 | -€801,988 | -93.0% |
| Cash at bank and in hand | 54/58 | €330,635 | €284,555 | -€46,080 | -13.9% |
| Deferred charges and accrued income | 490/1 | €27,340 | €21,757 | -€5,584 | -20.4% |
| Total equity and liabilities | 10/49 | €10,467,888 | €11,466,661 | +€998,773 | +9.5% |
| Equity | 10/15 | €1,629,762 | €2,635,688 | +€1.0m | +61.7% |
| Contributions | 10/11 | €587,000 | €587,000 | = | 0.0% |
| Capital | 10 | €587,000 | €587,000 | = | 0.0% |
| Issued capital | 100 | €587,000 | €587,000 | = | 0.0% |
| Reserves | 13 | €58,791 | €58,791 | = | 0.0% |
| Non-distributable reserves | 130/1 | €58,700 | €58,700 | = | 0.0% |
| Legal reserve | 130 | €58,700 | €58,700 | = | 0.0% |
| Tax-exempt reserves | 132 | €91 | €91 | = | 0.0% |
| Profit (loss) carried forward | 14 | €983,971 | €1,989,897 | +€1.0m | +102% |
| Amounts payable | 17/49 | €8,838,126 | €8,830,973 | -€7,153 | -0.1% |
| Amounts payable after more than one year | 17 | €1,000,000 | €1,000,000 | = | 0.0% |
| Financial debts | 170/4 | €1,000,000 | €1,000,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €7,836,006 | €7,830,589 | -€5,417 | -0.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €3,851,365 | €2,757,991 | -€1.1m | -28.4% |
| Credit institutions | 430/8 | €3,851,365 | €2,757,991 | -€1.1m | -28.4% |
| Trade debts | 44 | €1,587,959 | €2,886,986 | +€1.3m | +81.8% |
| Suppliers | 440/4 | €1,587,959 | €2,886,986 | +€1.3m | +81.8% |
| Advances received on contracts in progress | 46 | €1,603,502 | €282,939 | -€1.3m | -82.4% |
| Taxes, remuneration and social security | 45 | €59,077 | €322,765 | +€263,688 | +446% |
| Taxes | 450/3 | €30,085 | €290,168 | +€260,083 | +864% |
| Remuneration and social security | 454/9 | €28,993 | €32,598 | +€3,605 | +12.4% |
| Other amounts payable | 47/48 | €734,103 | €1,579,908 | +€845,805 | +115% |
| Accrued charges and deferred income | 492/3 | €2,120 | €384 | -€1,736 | -81.9% |
| Non-recurring operating income | 76A | €110,253 | €2,062 | -€108,191 | -98.1% |
| Remuneration, social security and pensions | 62 | €179,343 | €181,333 | +€1,989 | +1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,843 | €56,092 | +€28,248 | +101% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €416,248 | +€416,248 | |
| Other operating charges | 640/8 | €13,018 | €35,255 | +€22,238 | +171% |
| Non-recurring operating charges | 66A | €14,775 | €0 | -€14,775 | -100% |
| Gross operating margin | 9900 | €793,802 | €2,331,793 | +€1.5m | +194% |
| Operating profit (loss) | 9901 | €558,823 | €1,642,865 | +€1.1m | +194% |
| Financial income | 75/76B | €23,693 | €13,492 | -€10,202 | -43.1% |
| Recurring financial income | 75 | €23,693 | €13,492 | -€10,202 | -43.1% |
| Financial charges | 65/66B | €385,703 | €294,214 | -€91,490 | -23.7% |
| Recurring financial charges | 65 | €385,703 | €294,214 | -€91,490 | -23.7% |
| Profit (loss) for the period before taxes | 9903 | €196,813 | €1,362,143 | +€1.2m | +592% |
| Income taxes | 67/77 | €25,843 | €356,217 | +€330,374 | +1,278% |
| Profit (loss) for the period | 9904 | €170,970 | €1,005,926 | +€834,956 | +488% |
| Profit (loss) for the period to be appropriated | 9905 | €170,970 | €1,005,926 | +€834,956 | +488% |
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 20 October 2026 via checked.be.