FEVETO: 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.
FEVETO
Largest movements
- Tangible fixed assets -€278,890
down €278,890 (-51.1%), from €545,667 to €266,777
- Cash +€108,561
up €108,561 (+259.6%), from €41,822 to €150,383
mainly Investment in fixed assets (net) (+€263,965) and Net result for the year (+€103,303)
- Debts after one year -€262,834
no longer reported in 2025 (was €262,834)
- Profit (loss) carried forward +€103,303
up €103,303 (+45.4%), from -€227,564 to -€124,261
- Current portion of long-term debt -€13,333
no longer reported in 2025 (was €13,333)
- Gross operating margin +€89,588
up €89,588 (+271.3%), from €33,021 to €122,609
- Depreciation -€8,032
down €8,032 (-35.0%), from €22,958 to €14,925
- Financial charges -€5,591
down €5,591 (-66.7%), from €8,384 to €2,793
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 | €589,024 | €418,695 | -€170,329 | -28.9% |
| Fixed assets | 21/28 | €545,667 | €266,777 | -€278,890 | -51.1% |
| Tangible fixed assets | 22/27 | €545,667 | €266,777 | -€278,890 | -51.1% |
| Land and buildings | 22 | €545,667 | €266,777 | -€278,890 | -51.1% |
| Current assets | 29/58 | €43,358 | €151,919 | +€108,561 | +250.4% |
| Amounts receivable within one year | 40/41 | €1,536 | €1,536 | = | 0.0% |
| Other amounts receivable | 41 | €1,536 | €1,536 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €41,822 | €150,383 | +€108,561 | +259.6% |
| Total equity and liabilities | 10/49 | €589,024 | €418,695 | -€170,329 | -28.9% |
| Equity | 10/15 | -€208,964 | -€105,661 | +€103,303 | +49.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€227,564 | -€124,261 | +€103,303 | +45.4% |
| Amounts payable | 17/49 | €797,988 | €524,356 | -€273,632 | -34.3% |
| Amounts payable after more than one year | 17 | €262,834 | - | -€262,834 | |
| Financial debts | 170/4 | €262,834 | - | -€262,834 | |
| Amounts payable within one year | 42/48 | €535,154 | €524,356 | -€10,798 | -2.0% |
| Current portion of amounts payable after more than one year | 42 | €13,333 | - | -€13,333 | |
| Trade debts | 44 | €126 | €149 | +€23 | +18.4% |
| Suppliers | 440/4 | €126 | €149 | +€23 | +18.4% |
| Taxes, remuneration and social security | 45 | €2,185 | - | -€2,185 | |
| Taxes | 450/3 | €2,185 | - | -€2,185 | |
| Other amounts payable | 47/48 | €519,509 | €524,207 | +€4,698 | +0.9% |
| Non-recurring operating income | 76A | - | €106,035 | +€106,035 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,958 | €14,925 | -€8,032 | -35.0% |
| Other operating charges | 640/8 | €513 | €1,588 | +€1,074 | +209.3% |
| Gross operating margin | 9900 | €33,021 | €122,609 | +€89,588 | +271.3% |
| Operating profit (loss) | 9901 | €9,550 | €106,096 | +€96,546 | +1011.0% |
| Financial charges | 65/66B | €8,384 | €2,793 | -€5,591 | -66.7% |
| Recurring financial charges | 65 | €8,384 | €2,793 | -€5,591 | -66.7% |
| Profit (loss) for the period before taxes | 9903 | €1,166 | €103,303 | +€102,137 | +8756.8% |
| Profit (loss) for the period | 9904 | €1,166 | €103,303 | +€102,137 | +8756.8% |
| Profit (loss) for the period to be appropriated | 9905 | €1,166 | €103,303 | +€102,137 | +8756.8% |
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 10 October 2026 via checked.be.