FERAH DENIZLI: 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.
FERAH DENIZLI
Largest movements
- Cash +€25,334
up €25,334 (+4,789%), from €529 to €25,863
- Receivables within one year +€14,380
up €14,380 (+50.5%), from €28,472 to €42,852
of which Trade receivables: +€22,450
- Intangible fixed assets -€3,660
no longer reported in 2025 (was €3,660)
- Other debts +€22,000
new in 2025: €22,000
- Profit (loss) carried forward +€17,824
up €17,824, from -€9,595 to €8,228
- Trade debts -€4,388
down €4,388 (-63.4%), from €6,923 to €2,535
- Turnover -€209,580
no longer reported in 2025 (was €209,580)
- Purchases and services -€115,243
no longer reported in 2025 (was €115,243)
- Gross operating margin -€17,445
down €17,445 (-18.5%), from €94,336 to €76,891
- Staff costs +€12,765
up €12,765 (+23.3%), from €54,863 to €67,628
- Other operating charges -€5,700
down €5,700 (-57.7%), from €9,882 to €4,182
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €34,536 | €70,328 | +€35,793 | +104% |
| Fixed assets | 21/28 | €5,534 | €1,613 | -€3,921 | -70.9% |
| Intangible fixed assets | 21 | €3,660 | - | -€3,660 | |
| Tangible fixed assets | 22/27 | €392 | €131 | -€261 | -66.7% |
| Furniture and vehicles | 24 | €392 | €131 | -€261 | -66.7% |
| Financial fixed assets | 28 | €1,483 | €1,483 | = | 0.0% |
| Current assets | 29/58 | €29,001 | €68,715 | +€39,714 | +137% |
| Amounts receivable within one year | 40/41 | €28,472 | €42,852 | +€14,380 | +50.5% |
| Trade receivables | 40 | - | €22,450 | +€22,450 | |
| Other amounts receivable | 41 | €28,472 | €20,403 | -€8,070 | -28.3% |
| Cash at bank and in hand | 54/58 | €529 | €25,863 | +€25,334 | +4,789% |
| Total equity and liabilities | 10/49 | €34,536 | €70,328 | +€35,793 | +104% |
| Equity | 10/15 | €9,005 | €26,828 | +€17,824 | +198% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,595 | €8,228 | +€17,824 | |
| Amounts payable | 17/49 | €25,531 | €43,500 | +€17,969 | +70.4% |
| Amounts payable within one year | 42/48 | €25,531 | €43,500 | +€17,969 | +70.4% |
| Financial debts | 43 | €105 | - | -€105 | |
| Credit institutions | 430/8 | €105 | - | -€105 | |
| Trade debts | 44 | €6,923 | €2,535 | -€4,388 | -63.4% |
| Suppliers | 440/4 | €6,923 | €2,535 | -€4,388 | -63.4% |
| Taxes, remuneration and social security | 45 | €18,503 | €18,965 | +€462 | +2.5% |
| Taxes | 450/3 | €12,516 | €9,107 | -€3,409 | -27.2% |
| Remuneration and social security | 454/9 | €5,987 | €9,858 | +€3,871 | +64.7% |
| Other amounts payable | 47/48 | - | €22,000 | +€22,000 | |
| Turnover | 70 | €209,580 | - | -€209,580 | |
| Goods, raw materials, services and sundry goods | 60/61 | €115,243 | - | -€115,243 | |
| Remuneration, social security and pensions | 62 | €54,863 | €67,628 | +€12,765 | +23.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,961 | €1,961 | = | 0.0% |
| Other operating charges | 640/8 | €9,882 | €4,182 | -€5,700 | -57.7% |
| Gross operating margin | 9900 | €94,336 | €76,891 | -€17,445 | -18.5% |
| Operating profit (loss) | 9901 | €27,632 | €3,121 | -€24,511 | -88.7% |
| Financial income | 75/76B | €1,436 | €1 | -€1,436 | -100.0% |
| Recurring financial income | 75 | €1,436 | €1 | -€1,436 | -100.0% |
| Financial charges | 65/66B | €1,075 | €425 | -€650 | -60.5% |
| Recurring financial charges | 65 | €1,075 | €425 | -€650 | -60.5% |
| Profit (loss) for the period before taxes | 9903 | €27,993 | €2,697 | -€25,297 | -90.4% |
| Income taxes | 67/77 | - | €2,066 | +€2,066 | |
| Profit (loss) for the period | 9904 | €27,993 | €631 | -€27,362 | -97.7% |
| Profit (loss) for the period to be appropriated | 9905 | €27,993 | €631 | -€27,362 | -97.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.