FEODAREL: 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.
FEODAREL
Largest movements
- Tangible fixed assets +€58,698
up €58,698 (+10.8%), from €542,203 to €600,901
of which Plant, machinery and equipment: +€54,825
- Receivables within one year +€52,090
up €52,090 (+29.7%), from €175,507 to €227,597
of which Trade receivables: +€48,330
- Cash +€18,063
up €18,063 (+173%), from €10,429 to €28,493
mainly Depreciation (+€145,049) and Debts after one year (+€66,671)
- Debts after one year +€66,671
up €66,671 (+23.4%), from €284,545 to €351,216
- Profit (loss) carried forward +€33,620
up €33,620 (+35.7%), from €94,187 to €127,807
- Other debts +€29,753
up €29,753 (+30.9%), from €96,160 to €125,913
- Trade debts -€14,286
down €14,286 (-15.4%), from €92,605 to €78,318
- Tax, wage and social debts +€12,690
up €12,690 (+31.9%), from €39,832 to €52,522
of which Taxes: +€9,732
- Gross operating margin +€67,926
up €67,926 (+32.2%), from €210,778 to €278,705
- Depreciation +€59,135
up €59,135 (+68.8%), from €85,914 to €145,049
- Staff costs +€28,347
up €28,347 (+67.0%), from €42,341 to €70,688
- Taxes -€6,807
down €6,807 (-40.8%), from €16,675 to €9,868
- Other operating charges +€6,457
up €6,457 (+981%), from €658 to €7,115
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 | €733,774 | €860,670 | +€126,895 | +17.3% |
| Fixed assets | 21/28 | €543,682 | €601,260 | +€57,578 | +10.6% |
| Intangible fixed assets | 21 | €1,479 | €359 | -€1,120 | -75.7% |
| Tangible fixed assets | 22/27 | €542,203 | €600,901 | +€58,698 | +10.8% |
| Plant, machinery and equipment | 23 | €215,169 | €269,994 | +€54,825 | +25.5% |
| Furniture and vehicles | 24 | €327,034 | €330,907 | +€3,873 | +1.2% |
| Current assets | 29/58 | €190,092 | €259,409 | +€69,317 | +36.5% |
| Stocks and contracts in progress | 3 | €300 | €323 | +€23 | +7.8% |
| Stocks | 30/36 | €300 | €323 | +€23 | +7.8% |
| Amounts receivable within one year | 40/41 | €175,507 | €227,597 | +€52,090 | +29.7% |
| Trade receivables | 40 | €173,097 | €221,428 | +€48,330 | +27.9% |
| Other amounts receivable | 41 | €2,409 | €6,169 | +€3,760 | +156% |
| Cash at bank and in hand | 54/58 | €10,429 | €28,493 | +€18,063 | +173% |
| Deferred charges and accrued income | 490/1 | €3,856 | €2,997 | -€860 | -22.3% |
| Total equity and liabilities | 10/49 | €733,774 | €860,670 | +€126,895 | +17.3% |
| Equity | 10/15 | €107,467 | €141,087 | +€33,620 | +31.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €880 | €880 | = | 0.0% |
| Non-distributable reserves | 130/1 | €566 | €566 | = | 0.0% |
| Reserves not available under the articles | 1311 | €566 | €566 | = | 0.0% |
| Distributable reserves | 133 | €313 | €313 | = | 0.0% |
| Profit (loss) carried forward | 14 | €94,187 | €127,807 | +€33,620 | +35.7% |
| Amounts payable | 17/49 | €626,307 | €719,583 | +€93,276 | +14.9% |
| Amounts payable after more than one year | 17 | €284,545 | €351,216 | +€66,671 | +23.4% |
| Financial debts | 170/4 | €284,545 | €351,216 | +€66,671 | +23.4% |
| Amounts payable within one year | 42/48 | €341,762 | €368,367 | +€26,605 | +7.8% |
| Current portion of amounts payable after more than one year | 42 | €113,166 | €111,614 | -€1,552 | -1.4% |
| Trade debts | 44 | €92,605 | €78,318 | -€14,286 | -15.4% |
| Suppliers | 440/4 | €92,605 | €78,318 | -€14,286 | -15.4% |
| Taxes, remuneration and social security | 45 | €39,832 | €52,522 | +€12,690 | +31.9% |
| Taxes | 450/3 | €17,037 | €26,769 | +€9,732 | +57.1% |
| Remuneration and social security | 454/9 | €22,795 | €25,752 | +€2,958 | +13.0% |
| Other amounts payable | 47/48 | €96,160 | €125,913 | +€29,753 | +30.9% |
| Remuneration, social security and pensions | 62 | €42,341 | €70,688 | +€28,347 | +67.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,914 | €145,049 | +€59,135 | +68.8% |
| Other operating charges | 640/8 | €658 | €7,115 | +€6,457 | +981% |
| Gross operating margin | 9900 | €210,778 | €278,705 | +€67,926 | +32.2% |
| Operating profit (loss) | 9901 | €81,866 | €55,852 | -€26,014 | -31.8% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €9,559 | €12,365 | +€2,806 | +29.3% |
| Recurring financial charges | 65 | €9,559 | €12,365 | +€2,806 | +29.3% |
| Profit (loss) for the period before taxes | 9903 | €72,307 | €43,488 | -€28,819 | -39.9% |
| Income taxes | 67/77 | €16,675 | €9,868 | -€6,807 | -40.8% |
| Profit (loss) for the period | 9904 | €55,632 | €33,620 | -€22,012 | -39.6% |
| Profit (loss) for the period to be appropriated | 9905 | €55,632 | €33,620 | -€22,012 | -39.6% |
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 14 October 2026 via checked.be.