Fesco: 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.
Fesco
Largest movements
- Receivables within one year +€25,239
up €25,239 (+20.6%), from €122,770 to €148,009
of which Trade receivables: +€25,324
- Tangible fixed assets -€10,060
down €10,060 (-49.6%), from €20,268 to €10,209
of which Furniture and vehicles: -€7,863
- Cash +€6,866
up €6,866 (+211.2%), from €3,251 to €10,116
mainly Net result for the year (+€23,401) and Depreciation (+€11,307)
- Reserves +€23,401
up €23,401 (+29.9%), from €78,256 to €101,657
- Current portion of long-term debt -€5,946
down €5,946 (-83.2%), from €7,144 to €1,199
- Tax, wage and social debts +€4,656
up €4,656 (+13.8%), from €33,798 to €38,453
of which Taxes: +€4,406
- Depreciation -€5,137
down €5,137 (-31.2%), from €16,444 to €11,307
- Gross operating margin -€4,532
down €4,532 (-9.0%), from €50,118 to €45,586
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 | €146,758 | €168,814 | +€22,057 | +15.0% |
| Fixed assets | 21/28 | €20,268 | €10,209 | -€10,060 | -49.6% |
| Tangible fixed assets | 22/27 | €20,268 | €10,209 | -€10,060 | -49.6% |
| Plant, machinery and equipment | 23 | €7,909 | €5,712 | -€2,197 | -27.8% |
| Furniture and vehicles | 24 | €12,359 | €4,497 | -€7,863 | -63.6% |
| Current assets | 29/58 | €126,489 | €158,606 | +€32,116 | +25.4% |
| Amounts receivable within one year | 40/41 | €122,770 | €148,009 | +€25,239 | +20.6% |
| Trade receivables | 40 | €122,684 | €148,009 | +€25,324 | +20.6% |
| Other amounts receivable | 41 | €86 | - | -€86 | |
| Cash at bank and in hand | 54/58 | €3,251 | €10,116 | +€6,866 | +211.2% |
| Deferred charges and accrued income | 490/1 | €469 | €481 | +€12 | +2.5% |
| Total equity and liabilities | 10/49 | €146,758 | €168,814 | +€22,057 | +15.0% |
| Equity | 10/15 | €103,256 | €126,657 | +€23,401 | +22.7% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €78,256 | €101,657 | +€23,401 | +29.9% |
| Distributable reserves | 133 | €78,256 | €101,657 | +€23,401 | +29.9% |
| Amounts payable | 17/49 | €43,502 | €42,158 | -€1,345 | -3.1% |
| Amounts payable after more than one year | 17 | €1,199 | - | -€1,199 | |
| Financial debts | 170/4 | €1,199 | - | -€1,199 | |
| Amounts payable within one year | 42/48 | €42,304 | €42,158 | -€146 | -0.3% |
| Current portion of amounts payable after more than one year | 42 | €7,144 | €1,199 | -€5,946 | -83.2% |
| Trade debts | 44 | €1,344 | €2,488 | +€1,144 | +85.1% |
| Suppliers | 440/4 | €1,344 | €2,488 | +€1,144 | +85.1% |
| Taxes, remuneration and social security | 45 | €33,798 | €38,453 | +€4,656 | +13.8% |
| Taxes | 450/3 | €31,048 | €35,453 | +€4,406 | +14.2% |
| Remuneration and social security | 454/9 | €2,750 | €3,000 | +€250 | +9.1% |
| Other amounts payable | 47/48 | €18 | €18 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,444 | €11,307 | -€5,137 | -31.2% |
| Other operating charges | 640/8 | €1,177 | €1,156 | -€21 | -1.8% |
| Gross operating margin | 9900 | €50,118 | €45,586 | -€4,532 | -9.0% |
| Operating profit (loss) | 9901 | €32,496 | €33,122 | +€626 | +1.9% |
| Financial income | 75/76B | - | €8 | +€8 | |
| Recurring financial income | 75 | - | €8 | +€8 | |
| Financial charges | 65/66B | €386 | €611 | +€225 | +58.5% |
| Recurring financial charges | 65 | €386 | €611 | +€225 | +58.5% |
| Profit (loss) for the period before taxes | 9903 | €32,111 | €32,520 | +€409 | +1.3% |
| Income taxes | 67/77 | €9,225 | €9,118 | -€107 | -1.2% |
| Profit (loss) for the period | 9904 | €22,885 | €23,401 | +€516 | +2.3% |
| Profit (loss) for the period to be appropriated | 9905 | €22,885 | €23,401 | +€516 | +2.3% |
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 7 October 2026 via checked.be.