FES: 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.
FES
Largest movements
- Cash +€127,582
up €127,582 (+333.0%), from €38,313 to €165,895
mainly Receivables within one year (+€65,145) and Net result for the year (+€59,341)
- Receivables within one year -€65,145
down €65,145 (-31.0%), from €210,125 to €144,980
of which Trade receivables: -€65,035
- Tangible fixed assets -€30,866
down €30,866 (-7.6%), from €404,193 to €373,327
- Reserves +€59,341
up €59,341 (+80.0%), from €74,182 to €133,523
of which Distributable reserves: +€131,663
- Debts after one year -€13,332
down €13,332 (-24.0%), from €55,570 to €42,238
- Tax, wage and social debts -€13,180
down €13,180 (-17.2%), from €76,638 to €63,459
of which Remuneration and social security: -€7,883
- Turnover -€22,660
down €22,660 (-9.3%), from €243,540 to €220,880
- Gross operating margin -€17,988
down €17,988 (-12.9%), from €139,218 to €121,229
- Taxes -€4,654
down €4,654 (-16.1%), from €28,827 to €24,174
- Purchases and services -€4,326
down €4,326 (-2.8%), from €152,528 to €148,202
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €652,631 | €684,203 | +€31,571 | +4.8% |
| Fixed assets | 21/28 | €404,193 | €373,327 | -€30,866 | -7.6% |
| Tangible fixed assets | 22/27 | €404,193 | €373,327 | -€30,866 | -7.6% |
| Land and buildings | 22 | €404,193 | €373,327 | -€30,866 | -7.6% |
| Current assets | 29/58 | €248,438 | €310,875 | +€62,437 | +25.1% |
| Amounts receivable within one year | 40/41 | €210,125 | €144,980 | -€65,145 | -31.0% |
| Trade receivables | 40 | €208,431 | €143,396 | -€65,035 | -31.2% |
| Other amounts receivable | 41 | €1,694 | €1,584 | -€110 | -6.5% |
| Cash at bank and in hand | 54/58 | €38,313 | €165,895 | +€127,582 | +333.0% |
| Total equity and liabilities | 10/49 | €652,631 | €684,203 | +€31,571 | +4.8% |
| Equity | 10/15 | €501,266 | €560,608 | +€59,341 | +11.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €74,182 | €133,523 | +€59,341 | +80.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | - | €1,860 | +€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Tax-exempt reserves | 132 | €72,322 | - | -€72,322 | |
| Distributable reserves | 133 | - | €131,663 | +€131,663 | |
| Profit (loss) carried forward | 14 | €408,485 | €408,485 | = | 0.0% |
| Amounts payable | 17/49 | €151,365 | €123,595 | -€27,770 | -18.3% |
| Amounts payable after more than one year | 17 | €55,570 | €42,238 | -€13,332 | -24.0% |
| Financial debts | 170/4 | €55,570 | €42,238 | -€13,332 | -24.0% |
| Amounts payable within one year | 42/48 | €95,795 | €81,357 | -€14,438 | -15.1% |
| Current portion of amounts payable after more than one year | 42 | €13,332 | €13,332 | = | 0.0% |
| Trade debts | 44 | €1,400 | €27 | -€1,373 | -98.1% |
| Suppliers | 440/4 | €1,400 | €27 | -€1,373 | -98.1% |
| Taxes, remuneration and social security | 45 | €76,638 | €63,459 | -€13,180 | -17.2% |
| Taxes | 450/3 | €68,756 | €63,459 | -€5,297 | -7.7% |
| Remuneration and social security | 454/9 | €7,883 | €0 | -€7,883 | -100.0% |
| Other amounts payable | 47/48 | €4,424 | €4,539 | +€114 | +2.6% |
| Turnover | 70 | €243,540 | €220,880 | -€22,660 | -9.3% |
| Non-recurring operating income | 76A | €48,206 | €0 | -€48,206 | -100.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €152,528 | €148,202 | -€4,326 | -2.8% |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,866 | €30,866 | +€0 | 0.0% |
| Other operating charges | 640/8 | €3,647 | €3,629 | -€18 | -0.5% |
| Gross operating margin | 9900 | €139,218 | €121,229 | -€17,988 | -12.9% |
| Operating profit (loss) | 9901 | €104,705 | €86,735 | -€17,970 | -17.2% |
| Financial income | 75/76B | €2 | €3 | +€2 | +87.2% |
| Recurring financial income | 75 | €2 | €3 | +€2 | +87.2% |
| Financial charges | 65/66B | €3,558 | €3,223 | -€335 | -9.4% |
| Recurring financial charges | 65 | €3,558 | €3,223 | -€335 | -9.4% |
| Profit (loss) for the period before taxes | 9903 | €101,149 | €83,515 | -€17,634 | -17.4% |
| Income taxes | 67/77 | €28,827 | €24,174 | -€4,654 | -16.1% |
| Profit (loss) for the period | 9904 | €72,322 | €59,341 | -€12,980 | -17.9% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €72,322 | €59,341 | -€12,980 | -17.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.