FETTWEIS & KINET: 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.
FETTWEIS & KINET
Largest movements
- Cash +€80,023
up €80,023 (+22.4%), from €357,464 to €437,487
mainly Net result for the year (+€54,715) and Other debts (+€27,115)
- Receivables within one year -€13,517
down €13,517 (-52.0%), from €25,987 to €12,470
of which Other amounts receivable: -€17,517
- Tangible fixed assets -€12,255
down €12,255 (-15.3%), from €80,032 to €67,777
of which Other tangible fixed assets: -€9,853
- Profit (loss) carried forward +€29,715
up €29,715 (+9.4%), from €314,979 to €344,694
- Other debts +€27,115
up €27,115 (+22.1%), from €122,583 to €149,698
- Current portion of long-term debt -€19,877
down €19,877 (-91.5%), from €21,725 to €1,847
- Tax, wage and social debts +€8,535
up €8,535 (+196.4%), from €4,344 to €12,879
of which Taxes: +€8,046
- Trade debts +€5,808
up €5,808 (+91.1%), from €6,377 to €12,186
- Staff costs -€21,621
down €21,621 (-34.8%), from €62,125 to €40,504
- Gross operating margin +€17,425
up €17,425 (+14.5%), from €120,276 to €137,701
- Taxes +€9,757
up €9,757 (+89.8%), from €10,871 to €20,629
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 | €503,952 | €553,400 | +€49,448 | +9.8% |
| Fixed assets | 21/28 | €120,122 | €102,867 | -€17,255 | -14.4% |
| Intangible fixed assets | 21 | €40,000 | €35,000 | -€5,000 | -12.5% |
| Tangible fixed assets | 22/27 | €80,032 | €67,777 | -€12,255 | -15.3% |
| Furniture and vehicles | 24 | €10,820 | €8,418 | -€2,403 | -22.2% |
| Other tangible fixed assets | 26 | €69,212 | €59,360 | -€9,853 | -14.2% |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €383,829 | €450,532 | +€66,703 | +17.4% |
| Amounts receivable within one year | 40/41 | €25,987 | €12,470 | -€13,517 | -52.0% |
| Trade receivables | 40 | €7,000 | €11,000 | +€4,000 | +57.1% |
| Other amounts receivable | 41 | €18,987 | €1,470 | -€17,517 | -92.3% |
| Cash at bank and in hand | 54/58 | €357,464 | €437,487 | +€80,023 | +22.4% |
| Deferred charges and accrued income | 490/1 | €379 | €575 | +€197 | +52.0% |
| Total equity and liabilities | 10/49 | €503,952 | €553,400 | +€49,448 | +9.8% |
| Equity | 10/15 | €347,075 | €376,790 | +€29,715 | +8.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €13,496 | €13,496 | = | 0.0% |
| Distributable reserves | 133 | €13,496 | €13,496 | = | 0.0% |
| Profit (loss) carried forward | 14 | €314,979 | €344,694 | +€29,715 | +9.4% |
| Amounts payable | 17/49 | €156,877 | €176,610 | +€19,733 | +12.6% |
| Amounts payable after more than one year | 17 | €1,847 | - | -€1,847 | |
| Financial debts | 170/4 | €1,847 | - | -€1,847 | |
| Amounts payable within one year | 42/48 | €155,029 | €176,610 | +€21,581 | +13.9% |
| Current portion of amounts payable after more than one year | 42 | €21,725 | €1,847 | -€19,877 | -91.5% |
| Trade debts | 44 | €6,377 | €12,186 | +€5,808 | +91.1% |
| Suppliers | 440/4 | €6,377 | €12,186 | +€5,808 | +91.1% |
| Taxes, remuneration and social security | 45 | €4,344 | €12,879 | +€8,535 | +196.4% |
| Taxes | 450/3 | - | €8,046 | +€8,046 | |
| Remuneration and social security | 454/9 | €4,344 | €4,833 | +€489 | +11.3% |
| Other amounts payable | 47/48 | €122,583 | €149,698 | +€27,115 | +22.1% |
| Remuneration, social security and pensions | 62 | €62,125 | €40,504 | -€21,621 | -34.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,147 | €20,285 | -€862 | -4.1% |
| Other operating charges | 640/8 | €1,181 | €1,191 | +€10 | +0.8% |
| Gross operating margin | 9900 | €120,276 | €137,701 | +€17,425 | +14.5% |
| Operating profit (loss) | 9901 | €35,822 | €75,720 | +€39,899 | +111.4% |
| Financial income | 75/76B | €1,137 | €1,943 | +€806 | +70.8% |
| Recurring financial income | 75 | €1,137 | €1,943 | +€806 | +70.8% |
| Financial charges | 65/66B | €2,120 | €2,320 | +€199 | +9.4% |
| Recurring financial charges | 65 | €2,120 | €2,320 | +€199 | +9.4% |
| Profit (loss) for the period before taxes | 9903 | €34,839 | €75,343 | +€40,505 | +116.3% |
| Income taxes | 67/77 | €10,871 | €20,629 | +€9,757 | +89.8% |
| Profit (loss) for the period | 9904 | €23,967 | €54,715 | +€30,747 | +128.3% |
| Profit (loss) for the period to be appropriated | 9905 | €23,967 | €54,715 | +€30,747 | +128.3% |
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 8 October 2026 via checked.be.