FENIXGM: 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.
FENIXGM
Largest movements
- Stocks and contracts +€266,443
up €266,443 (+1,257%), from €21,200 to €287,643
- Cash -€26,532
down €26,532 (-21.1%), from €125,507 to €98,975
mainly Stocks and contracts (-€266,443) and Debts after one year (-€36,094)
- Receivables within one year -€9,190
down €9,190 (-8.3%), from €110,495 to €101,306
of which Trade receivables: -€9,235
- Advances received +€286,529
up €286,529 (+3,442%), from €8,325 to €294,854
- Debts after one year -€36,094
down €36,094 (-12.7%), from €283,843 to €247,749
- Other debts -€25,947
down €25,947 (-95.3%), from €27,231 to €1,284
- Profit (loss) carried forward -€10,141
down €10,141 (-21.1%), from €48,084 to €37,943
- Gross operating margin -€79,131
down €79,131 (-51.4%), from €154,051 to €74,920
- Taxes -€14,738
down €14,738 (-98.5%), from €14,962 to €224
- Depreciation -€4,984
down €4,984 (-13.8%), from €36,238 to €31,255
- Other operating charges +€2,332
up €2,332 (+47.5%), from €4,906 to €7,239
- Staff costs +€1,695
up €1,695 (+4.4%), from €38,330 to €40,025
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 | €621,995 | €848,765 | +€226,770 | +36.5% |
| Fixed assets | 21/28 | €357,192 | €350,275 | -€6,917 | -1.9% |
| Tangible fixed assets | 22/27 | €357,132 | €350,215 | -€6,917 | -1.9% |
| Land and buildings | 22 | €325,783 | €307,737 | -€18,046 | -5.5% |
| Plant, machinery and equipment | 23 | €602 | €521 | -€81 | -13.4% |
| Furniture and vehicles | 24 | €26,092 | €37,857 | +€11,765 | +45.1% |
| Other tangible fixed assets | 26 | €4,655 | €4,100 | -€555 | -11.9% |
| Financial fixed assets | 28 | €60 | €60 | = | 0.0% |
| Current assets | 29/58 | €264,803 | €498,489 | +€233,687 | +88.2% |
| Stocks and contracts in progress | 3 | €21,200 | €287,643 | +€266,443 | +1,257% |
| Stocks | 30/36 | €21,200 | €287,643 | +€266,443 | +1,257% |
| Amounts receivable within one year | 40/41 | €110,495 | €101,306 | -€9,190 | -8.3% |
| Trade receivables | 40 | €84,208 | €74,973 | -€9,235 | -11.0% |
| Other amounts receivable | 41 | €26,287 | €26,332 | +€45 | +0.2% |
| Cash at bank and in hand | 54/58 | €125,507 | €98,975 | -€26,532 | -21.1% |
| Deferred charges and accrued income | 490/1 | €7,601 | €10,566 | +€2,965 | +39.0% |
| Total equity and liabilities | 10/49 | €621,995 | €848,765 | +€226,770 | +36.5% |
| Equity | 10/15 | €223,055 | €212,914 | -€10,141 | -4.5% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Reserves | 13 | €162,971 | €162,971 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €161,111 | €161,111 | = | 0.0% |
| Profit (loss) carried forward | 14 | €48,084 | €37,943 | -€10,141 | -21.1% |
| Amounts payable | 17/49 | €398,940 | €635,851 | +€236,911 | +59.4% |
| Amounts payable after more than one year | 17 | €283,843 | €247,749 | -€36,094 | -12.7% |
| Financial debts | 170/4 | €283,843 | €247,749 | -€36,094 | -12.7% |
| Amounts payable within one year | 42/48 | €115,097 | €382,879 | +€267,782 | +233% |
| Current portion of amounts payable after more than one year | 42 | €35,572 | €36,094 | +€522 | +1.5% |
| Trade debts | 44 | €25,459 | €29,633 | +€4,174 | +16.4% |
| Suppliers | 440/4 | €25,459 | €29,633 | +€4,174 | +16.4% |
| Advances received on contracts in progress | 46 | €8,325 | €294,854 | +€286,529 | +3,442% |
| Taxes, remuneration and social security | 45 | €18,511 | €21,013 | +€2,503 | +13.5% |
| Taxes | 450/3 | €9,273 | €13,430 | +€4,157 | +44.8% |
| Remuneration and social security | 454/9 | €9,238 | €7,583 | -€1,655 | -17.9% |
| Other amounts payable | 47/48 | €27,231 | €1,284 | -€25,947 | -95.3% |
| Accrued charges and deferred income | 492/3 | - | €5,223 | +€5,223 | |
| Non-recurring operating income | 76A | €257 | - | -€257 | |
| Remuneration, social security and pensions | 62 | €38,330 | €40,025 | +€1,695 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,238 | €31,255 | -€4,984 | -13.8% |
| Other operating charges | 640/8 | €4,906 | €7,239 | +€2,332 | +47.5% |
| Non-recurring operating charges | 66A | €579 | €94 | -€485 | -83.7% |
| Gross operating margin | 9900 | €154,051 | €74,920 | -€79,131 | -51.4% |
| Operating profit (loss) | 9901 | €73,997 | -€3,693 | -€77,690 | |
| Financial income | 75/76B | €17 | €102 | +€85 | +499% |
| Recurring financial income | 75 | €17 | €102 | +€85 | +499% |
| Financial charges | 65/66B | €6,568 | €6,327 | -€241 | -3.7% |
| Recurring financial charges | 65 | €6,568 | €6,327 | -€241 | -3.7% |
| Profit (loss) for the period before taxes | 9903 | €67,447 | -€9,917 | -€77,364 | |
| Income taxes | 67/77 | €14,962 | €224 | -€14,738 | -98.5% |
| Profit (loss) for the period | 9904 | €52,485 | -€10,141 | -€62,626 | |
| Profit (loss) for the period to be appropriated | 9905 | €52,485 | -€10,141 | -€62,626 |
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 23 October 2026 via checked.be.