FEVACOM: 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.
FEVACOM
Largest movements
- Current investments -€1.3m
no longer reported in 2025 (was €1.3m)
- Cash +€1.0m
up €1.0m (+64.1%), from €1.6m to €2.6m
mainly Current investments (+€1.3m) and Net result for the year (+€1.0m)
- Receivables within one year -€654,802
down €654,802 (-61.8%), from €1.1m to €404,790
of which Trade receivables: -€609,442
- Stocks and contracts +€190,798
up €190,798 (+10.2%), from €1.9m to €2.1m
- Trade debts -€467,017
down €467,017 (-87.3%), from €534,835 to €67,818
- Other debts -€221,128
down €221,128 (-36.0%), from €614,510 to €393,382
- Gross operating margin +€356,408
up €356,408 (+31.6%), from €1.1m to €1.5m
- Staff costs -€146,912
down €146,912 (-45.1%), from €325,537 to €178,626
- Taxes +€134,672
up €134,672 (+67.7%), from €198,907 to €333,578
- Financial income +€78,618
up €78,618 (+491.3%), from €16,002 to €94,620
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 | €6,136,437 | €5,404,922 | -€731,516 | -11.9% |
| Fixed assets | 21/28 | €313,467 | €300,706 | -€12,761 | -4.1% |
| Tangible fixed assets | 22/27 | €62,407 | €49,646 | -€12,761 | -20.4% |
| Land and buildings | 22 | €45,880 | €33,714 | -€12,167 | -26.5% |
| Plant, machinery and equipment | 23 | €12,703 | €11,263 | -€1,439 | -11.3% |
| Furniture and vehicles | 24 | €3,824 | €4,669 | +€845 | +22.1% |
| Financial fixed assets | 28 | €251,060 | €251,060 | = | 0.0% |
| Current assets | 29/58 | €5,822,971 | €5,104,215 | -€718,755 | -12.3% |
| Stocks and contracts in progress | 3 | €1,869,838 | €2,060,636 | +€190,798 | +10.2% |
| Stocks | 30/36 | €1,869,838 | €2,060,636 | +€190,798 | +10.2% |
| Amounts receivable within one year | 40/41 | €1,059,592 | €404,790 | -€654,802 | -61.8% |
| Trade receivables | 40 | €993,186 | €383,744 | -€609,442 | -61.4% |
| Other amounts receivable | 41 | €66,407 | €21,046 | -€45,360 | -68.3% |
| Current investments | 50/53 | €1,281,819 | - | -€1.3m | |
| Cash at bank and in hand | 54/58 | €1,605,628 | €2,634,758 | +€1.0m | +64.1% |
| Deferred charges and accrued income | 490/1 | €6,094 | €4,031 | -€2,062 | -33.8% |
| Total equity and liabilities | 10/49 | €6,136,437 | €5,404,922 | -€731,516 | -11.9% |
| Equity | 10/15 | €4,901,162 | €4,923,669 | +€22,507 | +0.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €4,839,162 | €4,861,669 | +€22,507 | +0.5% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,670,400 | €1,670,400 | = | 0.0% |
| Distributable reserves | 133 | €3,162,562 | €3,185,069 | +€22,507 | +0.7% |
| Amounts payable | 17/49 | €1,235,275 | €481,253 | -€754,023 | -61.0% |
| Amounts payable within one year | 42/48 | €1,202,898 | €481,253 | -€721,645 | -60.0% |
| Trade debts | 44 | €534,835 | €67,818 | -€467,017 | -87.3% |
| Suppliers | 440/4 | €534,835 | €67,818 | -€467,017 | -87.3% |
| Taxes, remuneration and social security | 45 | €53,553 | €20,053 | -€33,500 | -62.6% |
| Taxes | 450/3 | €16,889 | - | -€16,889 | |
| Remuneration and social security | 454/9 | €36,664 | €20,053 | -€16,611 | -45.3% |
| Other amounts payable | 47/48 | €614,510 | €393,382 | -€221,128 | -36.0% |
| Accrued charges and deferred income | 492/3 | €32,378 | - | -€32,378 | |
| Remuneration, social security and pensions | 62 | €325,537 | €178,626 | -€146,912 | -45.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,207 | €17,458 | +€250 | +1.5% |
| Other operating charges | 640/8 | €8,606 | €20,406 | +€11,800 | +137.1% |
| Gross operating margin | 9900 | €1,128,429 | €1,484,837 | +€356,408 | +31.6% |
| Operating profit (loss) | 9901 | €777,078 | €1,268,348 | +€491,270 | +63.2% |
| Financial income | 75/76B | €16,002 | €94,620 | +€78,618 | +491.3% |
| Recurring financial income | 75 | €16,002 | €94,620 | +€78,618 | +491.3% |
| Financial charges | 65/66B | €5,649 | €6,883 | +€1,233 | +21.8% |
| Recurring financial charges | 65 | €5,649 | €6,883 | +€1,233 | +21.8% |
| Profit (loss) for the period before taxes | 9903 | €787,430 | €1,356,085 | +€568,655 | +72.2% |
| Income taxes | 67/77 | €198,907 | €333,578 | +€134,672 | +67.7% |
| Profit (loss) for the period | 9904 | €588,523 | €1,022,507 | +€433,983 | +73.7% |
| Transfer from tax-exempt reserves | 789 | €210,500 | - | -€210,500 | |
| Profit (loss) for the period to be appropriated | 9905 | €799,023 | €1,022,507 | +€223,483 | +28.0% |
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 2 October 2026 via checked.be.