FENWIK: 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.
FENWIK
Largest movements
- Tangible fixed assets +€2.1m
up €2.1m (+59.6%), from €3.5m to €5.6m
of which Land and buildings: +€2.1m
- Cash -€69,027
down €69,027 (-10.2%), from €674,075 to €605,048
mainly Investment in fixed assets (net) (-€2.3m) and Net result for the year (-€169,197)
- Revaluation surpluses +€2.2m
up €2.2m (+183.5%), from €1.2m to €3.5m
- Profit (loss) carried forward -€163,642
down €163,642 (-18.2%), from -€901,592 to -€1.1m
- Debts after one year -€113,658
down €113,658 (-5.2%), from €2.2m to €2.1m
- Reserves +€69,036
up €69,036 (+10.6%), from €650,794 to €719,831
of which Distributable reserves: +€74,591
- Gross operating margin +€102,729
up €102,729 (+275.5%), from €37,288 to €140,018
- Other operating charges -€22,530
down €22,530 (-55.7%), from €40,477 to €17,946
- Depreciation +€16,783
up €16,783 (+8.0%), from €210,286 to €227,068
- Financial income -€4,125
down €4,125 (-53.6%), from €7,697 to €3,573
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 | €4,166,657 | €6,170,904 | +€2.0m | +48.1% |
| Fixed assets | 21/28 | €3,482,471 | €5,559,415 | +€2.1m | +59.6% |
| Tangible fixed assets | 22/27 | €3,482,471 | €5,559,415 | +€2.1m | +59.6% |
| Land and buildings | 22 | €3,181,741 | €5,318,443 | +€2.1m | +67.2% |
| Plant, machinery and equipment | 23 | €11,122 | €6,691 | -€4,432 | -39.8% |
| Furniture and vehicles | 24 | €223,945 | €179,409 | -€44,536 | -19.9% |
| Leasing and similar rights | 25 | €65,662 | €54,872 | -€10,790 | -16.4% |
| Current assets | 29/58 | €684,186 | €611,489 | -€72,697 | -10.6% |
| Amounts receivable within one year | 40/41 | - | €811 | +€811 | |
| Other amounts receivable | 41 | - | €811 | +€811 | |
| Cash at bank and in hand | 54/58 | €674,075 | €605,048 | -€69,027 | -10.2% |
| Deferred charges and accrued income | 490/1 | €10,111 | €5,631 | -€4,480 | -44.3% |
| Total equity and liabilities | 10/49 | €4,166,657 | €6,170,904 | +€2.0m | +48.1% |
| Equity | 10/15 | €1,725,905 | €3,870,056 | +€2.1m | +124.2% |
| Contributions | 10/11 | €756,354 | €756,354 | = | 0.0% |
| Revaluation surpluses | 12 | €1,220,348 | €3,459,106 | +€2.2m | +183.5% |
| Reserves | 13 | €650,794 | €719,831 | +€69,036 | +10.6% |
| Tax-exempt reserves | 132 | €80,800 | €75,245 | -€5,554 | -6.9% |
| Distributable reserves | 133 | €569,995 | €644,585 | +€74,591 | +13.1% |
| Profit (loss) carried forward | 14 | -€901,592 | -€1,065,234 | -€163,642 | -18.2% |
| Provisions and deferred taxes | 16 | €22,218 | €20,366 | -€1,851 | -8.3% |
| Deferred taxes | 168 | €22,218 | €20,366 | -€1,851 | -8.3% |
| Amounts payable | 17/49 | €2,418,535 | €2,280,481 | -€138,053 | -5.7% |
| Amounts payable after more than one year | 17 | €2,202,087 | €2,088,429 | -€113,658 | -5.2% |
| Other amounts payable | 178/9 | €2,202,087 | €2,088,429 | -€113,658 | -5.2% |
| Amounts payable within one year | 42/48 | €167,995 | €138,471 | -€29,524 | -17.6% |
| Trade debts | 44 | €15,473 | €16,377 | +€904 | +5.8% |
| Suppliers | 440/4 | €15,473 | €16,377 | +€904 | +5.8% |
| Taxes, remuneration and social security | 45 | €32,458 | €20,688 | -€11,770 | -36.3% |
| Taxes | 450/3 | €32,458 | €20,688 | -€11,770 | -36.3% |
| Other amounts payable | 47/48 | €120,063 | €101,406 | -€18,658 | -15.5% |
| Accrued charges and deferred income | 492/3 | €48,453 | €53,582 | +€5,129 | +10.6% |
| Non-recurring operating income | 76A | - | €23,159 | +€23,159 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €210,286 | €227,068 | +€16,783 | +8.0% |
| Other operating charges | 640/8 | €40,477 | €17,946 | -€22,530 | -55.7% |
| Gross operating margin | 9900 | €37,288 | €140,018 | +€102,729 | +275.5% |
| Operating profit (loss) | 9901 | -€213,474 | -€104,997 | +€108,477 | +50.8% |
| Financial income | 75/76B | €7,697 | €3,573 | -€4,125 | -53.6% |
| Recurring financial income | 75 | €7,697 | €3,573 | -€4,125 | -53.6% |
| Financial charges | 65/66B | €68,499 | €69,453 | +€954 | +1.4% |
| Recurring financial charges | 65 | €68,499 | €69,453 | +€954 | +1.4% |
| Profit (loss) for the period before taxes | 9903 | -€274,276 | -€170,878 | +€103,398 | +37.7% |
| Transfer from deferred taxes | 780 | €1,851 | €1,851 | = | 0.0% |
| Income taxes | 67/77 | €506 | €170 | -€336 | -66.4% |
| Profit (loss) for the period | 9904 | -€272,931 | -€169,197 | +€103,734 | +38.0% |
| Transfer from tax-exempt reserves | 789 | €5,554 | €5,554 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€267,376 | -€163,642 | +€103,734 | +38.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.