FEops: 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.
FEops
Largest movements
- Cash -€1.5m
down €1.5m (-91.4%), from €1.6m to €140,099
mainly Net result for the year (-€2.3m) and Investment in fixed assets (net) (-€1.4m)
- Intangible fixed assets -€841,421
down €841,421 (-28.2%), from €3.0m to €2.1m
- Receivables after one year +€335,583
new in 2025: €335,583
- Receivables within one year -€213,484
down €213,484 (-28.6%), from €745,620 to €532,136
of which Other amounts receivable: -€286,818
- Deferred charges and accrued income +€129,307
up €129,307 (+206.0%), from €62,756 to €192,062
- Profit (loss) carried forward -€2.3m
down €2.3m (-82.7%), from -€2.7m to -€5.0m
- Other debts +€501,490
new in 2025: €501,490
- Tax, wage and social debts -€241,452
down €241,452 (-49.6%), from €486,473 to €245,021
of which Remuneration and social security: -€204,392
- Trade debts -€89,357
down €89,357 (-31.2%), from €286,405 to €197,048
- Depreciation +€1.4m
up €1.4m (+156.2%), from €868,626 to €2.2m
- Staff costs -€301,162
down €301,162 (-13.0%), from €2.3m to €2.0m
- Financial charges -€131,659
down €131,659 (-82.2%), from €160,195 to €28,536
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 | €5,507,729 | €3,413,873 | -€2.1m | -38.0% |
| Fixed assets | 21/28 | €3,061,454 | €2,196,227 | -€865,227 | -28.3% |
| Intangible fixed assets | 21 | €2,987,878 | €2,146,457 | -€841,421 | -28.2% |
| Tangible fixed assets | 22/27 | €35,058 | €10,884 | -€24,174 | -69.0% |
| Plant, machinery and equipment | 23 | €22,866 | - | -€22,866 | |
| Furniture and vehicles | 24 | €12,192 | €10,884 | -€1,308 | -10.7% |
| Financial fixed assets | 28 | €38,517 | €38,886 | +€369 | +1.0% |
| Current assets | 29/58 | €2,446,275 | €1,217,646 | -€1.2m | -50.2% |
| Amounts receivable after more than one year | 29 | - | €335,583 | +€335,583 | |
| Other amounts receivable | 291 | - | €335,583 | +€335,583 | |
| Amounts receivable within one year | 40/41 | €745,620 | €532,136 | -€213,484 | -28.6% |
| Trade receivables | 40 | €271,539 | €344,872 | +€73,333 | +27.0% |
| Other amounts receivable | 41 | €474,082 | €187,264 | -€286,818 | -60.5% |
| Current investments | 50/53 | - | €17,766 | +€17,766 | |
| Cash at bank and in hand | 54/58 | €1,637,899 | €140,099 | -€1.5m | -91.4% |
| Deferred charges and accrued income | 490/1 | €62,756 | €192,062 | +€129,307 | +206.0% |
| Total equity and liabilities | 10/49 | €5,507,729 | €3,413,873 | -€2.1m | -38.0% |
| Equity | 10/15 | €4,451,366 | €2,196,786 | -€2.3m | -50.6% |
| Contributions | 10/11 | €7,177,255 | €7,177,255 | = | 0.0% |
| Capital | 10 | €7,177,255 | €7,177,255 | = | 0.0% |
| Issued capital | 100 | €7,177,255 | €7,177,255 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Legal reserve | 130 | €0 | - | = | |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€2,725,889 | -€4,980,469 | -€2.3m | -82.7% |
| Amounts payable | 17/49 | €1,056,363 | €1,217,088 | +€160,724 | +15.2% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €772,878 | €943,560 | +€170,681 | +22.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €286,405 | €197,048 | -€89,357 | -31.2% |
| Suppliers | 440/4 | €286,405 | €197,048 | -€89,357 | -31.2% |
| Taxes, remuneration and social security | 45 | €486,473 | €245,021 | -€241,452 | -49.6% |
| Taxes | 450/3 | €37,060 | - | -€37,060 | |
| Remuneration and social security | 454/9 | €449,413 | €245,021 | -€204,392 | -45.5% |
| Other amounts payable | 47/48 | - | €501,490 | +€501,490 | |
| Accrued charges and deferred income | 492/3 | €283,485 | €273,528 | -€9,957 | -3.5% |
| Non-recurring operating income | 76A | €1,108,006 | €270,109 | -€837,897 | -75.6% |
| Remuneration, social security and pensions | 62 | €2,323,662 | €2,022,501 | -€301,162 | -13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €868,626 | €2,225,675 | +€1.4m | +156.2% |
| Other operating charges | 640/8 | €1,158 | €4,754 | +€3,596 | +310.5% |
| Non-recurring operating charges | 66A | €2,068,356 | €27 | -€2.1m | -100.0% |
| Gross operating margin | 9900 | €1,937,481 | €1,950,448 | +€12,968 | +0.7% |
| Operating profit (loss) | 9901 | -€3,324,321 | -€2,302,509 | +€1.0m | +30.7% |
| Financial income | 75/76B | €3,157 | €16,135 | +€12,978 | +411.0% |
| Recurring financial income | 75 | €3,157 | €16,135 | +€12,978 | +411.0% |
| Financial charges | 65/66B | €160,195 | €28,536 | -€131,659 | -82.2% |
| Recurring financial charges | 65 | €160,195 | €28,536 | -€131,659 | -82.2% |
| Profit (loss) for the period before taxes | 9903 | -€3,481,359 | -€2,314,910 | +€1.2m | +33.5% |
| Income taxes | 67/77 | -€55,301 | -€60,330 | -€5,030 | -9.1% |
| Profit (loss) for the period | 9904 | -€3,426,058 | -€2,254,580 | +€1.2m | +34.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,426,058 | -€2,254,580 | +€1.2m | +34.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.