FET'INCELLES !: 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.
FET'INCELLES !
Largest movements
- Tangible fixed assets -€20,360
down €20,360 (-7.1%), from €286,352 to €265,991
of which Land and buildings: -€21,913
- Receivables within one year +€10,656
up €10,656 (+44.5%), from €23,962 to €34,618
of which Trade receivables: +€8,877
- Debts after one year -€13,160
down €13,160 (-7.5%), from €175,997 to €162,837
of which Financial debts: -€13,160
- Reserves +€5,100
up €5,100 (+9.7%), from €52,335 to €57,435
of which Distributable reserves: +€5,100
- Trade debts +€3,799
up €3,799 (+38.3%), from €9,930 to €13,730
- Depreciation +€5,788
up €5,788 (+24.1%), from €23,994 to €29,782
- Gross operating margin +€4,277
up €4,277 (+10.6%), from €40,425 to €44,702
- Taxes -€547
down €547 (-14.5%), from €3,769 to €3,221
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 | €368,070 | €364,272 | -€3,797 | -1.0% |
| Fixed assets | 21/28 | €286,352 | €265,991 | -€20,360 | -7.1% |
| Tangible fixed assets | 22/27 | €286,352 | €265,991 | -€20,360 | -7.1% |
| Land and buildings | 22 | €270,319 | €248,406 | -€21,913 | -8.1% |
| Plant, machinery and equipment | 23 | €14,110 | €10,798 | -€3,311 | -23.5% |
| Furniture and vehicles | 24 | €1,923 | €6,787 | +€4,864 | +253% |
| Current assets | 29/58 | €81,718 | €98,281 | +€16,563 | +20.3% |
| Stocks and contracts in progress | 3 | €45,994 | €48,638 | +€2,644 | +5.7% |
| Stocks | 30/36 | €45,994 | €48,638 | +€2,644 | +5.7% |
| Amounts receivable within one year | 40/41 | €23,962 | €34,618 | +€10,656 | +44.5% |
| Trade receivables | 40 | €22,276 | €31,153 | +€8,877 | +39.9% |
| Other amounts receivable | 41 | €1,686 | €3,465 | +€1,779 | +105% |
| Cash at bank and in hand | 54/58 | €9,691 | €12,287 | +€2,597 | +26.8% |
| Deferred charges and accrued income | 490/1 | €2,072 | €2,738 | +€667 | +32.2% |
| Total equity and liabilities | 10/49 | €368,070 | €364,272 | -€3,797 | -1.0% |
| Equity | 10/15 | €89,878 | €94,996 | +€5,117 | +5.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €52,335 | €57,435 | +€5,100 | +9.7% |
| Non-distributable reserves | 130/1 | €1,535 | €1,535 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,535 | €1,535 | = | 0.0% |
| Distributable reserves | 133 | €50,800 | €55,900 | +€5,100 | +10.0% |
| Profit (loss) carried forward | 14 | €31,344 | €31,361 | +€17 | +0.1% |
| Amounts payable | 17/49 | €278,191 | €269,277 | -€8,915 | -3.2% |
| Amounts payable after more than one year | 17 | €175,997 | €162,837 | -€13,160 | -7.5% |
| Financial debts | 170/4 | €174,097 | €160,937 | -€13,160 | -7.6% |
| Other amounts payable | 178/9 | €1,900 | €1,900 | = | 0.0% |
| Amounts payable within one year | 42/48 | €101,536 | €104,816 | +€3,280 | +3.2% |
| Current portion of amounts payable after more than one year | 42 | €13,833 | €14,851 | +€1,019 | +7.4% |
| Trade debts | 44 | €9,930 | €13,730 | +€3,799 | +38.3% |
| Suppliers | 440/4 | €9,930 | €13,730 | +€3,799 | +38.3% |
| Taxes, remuneration and social security | 45 | €5,217 | €2,698 | -€2,520 | -48.3% |
| Taxes | 450/3 | €5,217 | €2,698 | -€2,520 | -48.3% |
| Other amounts payable | 47/48 | €72,556 | €73,538 | +€981 | +1.4% |
| Accrued charges and deferred income | 492/3 | €658 | €1,624 | +€966 | +147% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,994 | €29,782 | +€5,788 | +24.1% |
| Other operating charges | 640/8 | €1,369 | €1,392 | +€23 | +1.7% |
| Gross operating margin | 9900 | €40,425 | €44,702 | +€4,277 | +10.6% |
| Operating profit (loss) | 9901 | €15,062 | €13,528 | -€1,534 | -10.2% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €5,020 | €5,190 | +€170 | +3.4% |
| Recurring financial charges | 65 | €5,020 | €5,190 | +€170 | +3.4% |
| Profit (loss) for the period before taxes | 9903 | €10,042 | €8,339 | -€1,703 | -17.0% |
| Income taxes | 67/77 | €3,769 | €3,221 | -€547 | -14.5% |
| Profit (loss) for the period | 9904 | €6,273 | €5,117 | -€1,156 | -18.4% |
| Profit (loss) for the period to be appropriated | 9905 | €6,273 | €5,117 | -€1,156 | -18.4% |
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 16 October 2026 via checked.be.