FEWO: 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.
FEWO
Largest movements
- Current investments -€150,000
down €150,000 (-100%), from €150,000 to €0
- Cash +€93,461
up €93,461 (+61.8%), from €151,343 to €244,804
mainly Current investments (+€150,000) and Net result for the year (+€127,170)
- Tangible fixed assets -€25,991
down €25,991 (-24.5%), from €106,023 to €80,032
of which Furniture and vehicles: -€25,924
- Receivables within one year -€13,432
down €13,432 (-87.2%), from €15,397 to €1,965
of which Other amounts receivable: -€13,366
- Debts after one year -€112,964
down €112,964 (-42.9%), from €263,602 to €150,638
- Reserves +€22,500
up €22,500 (+19.0%), from €118,500 to €141,000
- Financial charges -€6,272
down €6,272 (-41.5%), from €15,108 to €8,836
- Gross operating margin +€6,068
up €6,068 (+3.1%), from €193,370 to €199,438
- Taxes +€3,918
up €3,918 (+11.3%), from €34,737 to €38,655
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 | €423,167 | €327,308 | -€95,859 | -22.7% |
| Fixed assets | 21/28 | €106,023 | €80,032 | -€25,991 | -24.5% |
| Tangible fixed assets | 22/27 | €106,023 | €80,032 | -€25,991 | -24.5% |
| Land and buildings | 22 | €3,510 | €3,443 | -€67 | -1.9% |
| Furniture and vehicles | 24 | €102,513 | €76,589 | -€25,924 | -25.3% |
| Current assets | 29/58 | €317,144 | €247,276 | -€69,868 | -22.0% |
| Amounts receivable within one year | 40/41 | €15,397 | €1,965 | -€13,432 | -87.2% |
| Trade receivables | 40 | €65 | €0 | -€65 | -100% |
| Other amounts receivable | 41 | €15,332 | €1,965 | -€13,366 | -87.2% |
| Current investments | 50/53 | €150,000 | €0 | -€150,000 | -100% |
| Cash at bank and in hand | 54/58 | €151,343 | €244,804 | +€93,461 | +61.8% |
| Deferred charges and accrued income | 490/1 | €403 | €507 | +€104 | +25.7% |
| Total equity and liabilities | 10/49 | €423,167 | €327,308 | -€95,859 | -22.7% |
| Equity | 10/15 | €123,907 | €146,497 | +€22,590 | +18.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €118,500 | €141,000 | +€22,500 | +19.0% |
| Distributable reserves | 133 | €118,500 | €141,000 | +€22,500 | +19.0% |
| Profit (loss) carried forward | 14 | €407 | €497 | +€90 | +22.1% |
| Amounts payable | 17/49 | €299,260 | €180,811 | -€118,449 | -39.6% |
| Amounts payable after more than one year | 17 | €263,602 | €150,638 | -€112,964 | -42.9% |
| Other amounts payable | 178/9 | €263,602 | €150,638 | -€112,964 | -42.9% |
| Amounts payable within one year | 42/48 | €35,658 | €30,173 | -€5,484 | -15.4% |
| Trade debts | 44 | €2,714 | €848 | -€1,866 | -68.8% |
| Suppliers | 440/4 | €2,714 | €848 | -€1,866 | -68.8% |
| Taxes, remuneration and social security | 45 | €17,120 | €16,072 | -€1,048 | -6.1% |
| Taxes | 450/3 | €17,120 | €16,072 | -€1,048 | -6.1% |
| Other amounts payable | 47/48 | €15,824 | €13,254 | -€2,570 | -16.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,194 | €25,991 | +€797 | +3.2% |
| Other operating charges | 640/8 | €576 | €761 | +€184 | +31.9% |
| Gross operating margin | 9900 | €193,370 | €199,438 | +€6,068 | +3.1% |
| Operating profit (loss) | 9901 | €167,600 | €172,686 | +€5,087 | +3.0% |
| Financial income | 75/76B | €1,758 | €1,975 | +€216 | +12.3% |
| Recurring financial income | 75 | €1,758 | €1,975 | +€216 | +12.3% |
| Financial charges | 65/66B | €15,108 | €8,836 | -€6,272 | -41.5% |
| Recurring financial charges | 65 | €15,108 | €8,836 | -€6,272 | -41.5% |
| Profit (loss) for the period before taxes | 9903 | €154,250 | €165,825 | +€11,575 | +7.5% |
| Income taxes | 67/77 | €34,737 | €38,655 | +€3,918 | +11.3% |
| Profit (loss) for the period | 9904 | €119,512 | €127,170 | +€7,658 | +6.4% |
| Profit (loss) for the period to be appropriated | 9905 | €119,512 | €127,170 | +€7,658 | +6.4% |
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 20 October 2026 via checked.be.