FEXIM: 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.
What changed
FEXIM
NACE 43.222, Installation of electric heating, air conditioning, cooling and ventilation
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€355,678
2023 · €394,722-€39,043
Equity
€1.9m
2023 · €1.9m+€69,313
Cash
€68,585
2023 · €28,480+€40,104
Balance sheet total
€12.0m
2023 · €10.7m+€1.3m
Largest movements
Assets
- Current investments +€898,139
up €898,139 (+11.1%), from €8.1m to €9.0m
- Receivables within one year +€563,626
up €563,626 (+34.3%), from €1.6m to €2.2m
of which Trade receivables: +€515,505
- Deferred charges and accrued income -€192,587
down €192,587 (-92.1%), from €209,219 to €16,631
Equity and liabilities
- Trade debts +€954,794
up €954,794 (+54.2%), from €1.8m to €2.7m
- Provisions +€307,458
up €307,458 (+5.5%), from €5.6m to €5.9m
Income statement
- Provisions -€393,917
down €393,917 (-74.9%), from €525,877 to €131,960
- Turnover +€355,401
up €355,401 (+6.2%), from €5.7m to €6.1m
- Staff costs +€311,253
up €311,253 (+16.6%), from €1.9m to €2.2m
- Services and other goods +€136,076
up €136,076 (+13.4%), from €1.0m to €1.1m
- Goods and materials +€110,512
up €110,512 (+4.9%), from €2.3m to €2.4m
From the 2023 result to the 2024 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.
Result 2023
€394,722
Turnover
+€355,401
Other operating income
+€40,400
Goods and materials
-€110,512
Services and other goods
-€136,076
Staff costs
-€311,253
Depreciation
-€52,893
Write-downs
+€21,027
Provisions
+€393,917
Other operating charges
+€1,303
Other operating items
-€316,782
Financial income
+€92,699
Financial charges
-€6,935
Taxes
-€9,339
Result 2024
€355,678
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€1.4m
Investment
-€1.1m
Financing
-€255,787
Cash 2023
€28,480
From operations (derived)
+€1.4m
Net result for the year
+€355,678
Depreciation
+€137,110
Stocks and contracts
+€75,660
Receivables within one year
-€563,626
Deferred charges and accrued income
+€192,587
Provisions
+€307,458
Trade debts
+€954,794
Tax, wage and social debts
+€96,573
Other debts
-€102,221
Accrued charges and deferred income
-€73,570
Investment (derived)
-€1.1m
Investment in fixed assets (net)
-€186,413
Current investments
-€898,139
Financing
-€255,787
Debts after one year
+€13,908
Current portion of long-term debt
+€16,670
Contributions, distributions and other
-€286,365
Cash 2024
€68,585
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,705,784 | €11,988,709 | +€1.3m | +12.0% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €353,298 | €402,601 | +€49,302 | +14.0% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €353,236 | €402,539 | +€49,302 | +14.0% |
| Land and buildings | 22 | €3,931 | €3,109 | -€822 | -20.9% |
| Plant, machinery and equipment | 23 | €2,240 | €12,569 | +€10,329 | +461.1% |
| Furniture and vehicles | 24 | €19,102 | €11,771 | -€7,331 | -38.4% |
| Leasing and similar rights | 25 | €327,964 | €375,090 | +€47,126 | +14.4% |
| Financial fixed assets | 28 | €62 | €62 | = | 0.0% |
| Affiliated companies | 280/1 | €62 | €62 | = | 0.0% |
| Participating interests | 280 | €62 | €62 | = | 0.0% |
| Current assets | 29/58 | €10,352,485 | €11,586,108 | +€1.2m | +11.9% |
| Stocks and contracts in progress | 3 | €414,143 | €338,483 | -€75,660 | -18.3% |
| Contracts in progress | 37 | €414,143 | €338,483 | -€75,660 | -18.3% |
| Amounts receivable within one year | 40/41 | €1,641,064 | €2,204,690 | +€563,626 | +34.3% |
| Trade receivables | 40 | €1,570,506 | €2,086,011 | +€515,505 | +32.8% |
| Other amounts receivable | 41 | €70,558 | €118,679 | +€48,121 | +68.2% |
| Current investments | 50/53 | €8,059,578 | €8,957,718 | +€898,139 | +11.1% |
| Other investments | 51/53 | €8,059,578 | €8,957,718 | +€898,139 | +11.1% |
| Cash at bank and in hand | 54/58 | €28,480 | €68,585 | +€40,104 | +140.8% |
| Deferred charges and accrued income | 490/1 | €209,219 | €16,631 | -€192,587 | -92.1% |
| Total equity and liabilities | 10/49 | €10,705,784 | €11,988,709 | +€1.3m | +12.0% |
| Equity | 10/15 | €1,850,214 | €1,919,528 | +€69,313 | +3.7% |
| Contributions | 10/11 | €520,283 | €520,283 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Outside capital | 11 | €20,283 | €20,283 | = | 0.0% |
| Share premium | 1100/10 | €20,283 | €20,283 | = | 0.0% |
| Reserves | 13 | €50,000 | €50,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €50,000 | €50,000 | = | 0.0% |
| Legal reserve | 130 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,279,932 | €1,349,245 | +€69,313 | +5.4% |
| Provisions and deferred taxes | 16 | €5,597,329 | €5,904,787 | +€307,458 | +5.5% |
| Provisions for liabilities and charges | 160/5 | €5,597,329 | €5,904,787 | +€307,458 | +5.5% |
| Other liabilities and charges | 164/5 | €5,597,329 | €5,904,787 | +€307,458 | +5.5% |
| Amounts payable | 17/49 | €3,258,240 | €4,164,394 | +€906,154 | +27.8% |
| Amounts payable after more than one year | 17 | €206,423 | €220,331 | +€13,908 | +6.7% |
| Financial debts | 170/4 | €206,423 | €220,331 | +€13,908 | +6.7% |
| Leasing and similar obligations | 172 | €206,423 | €220,331 | +€13,908 | +6.7% |
| Amounts payable within one year | 42/48 | €2,755,681 | €3,721,497 | +€965,816 | +35.0% |
| Current portion of amounts payable after more than one year | 42 | €123,630 | €140,300 | +€16,670 | +13.5% |
| Trade debts | 44 | €1,762,546 | €2,717,340 | +€954,794 | +54.2% |
| Suppliers | 440/4 | €1,762,546 | €2,717,340 | +€954,794 | +54.2% |
| Taxes, remuneration and social security | 45 | €456,089 | €552,661 | +€96,573 | +21.2% |
| Taxes | 450/3 | €123,712 | €89,855 | -€33,856 | -27.4% |
| Remuneration and social security | 454/9 | €332,377 | €462,806 | +€130,429 | +39.2% |
| Other amounts payable | 47/48 | €413,416 | €311,196 | -€102,221 | -24.7% |
| Accrued charges and deferred income | 492/3 | €296,136 | €222,566 | -€73,570 | -24.8% |
| Operating income | 70/76A | €6,080,638 | €6,159,656 | +€79,018 | +1.3% |
| Turnover | 70 | €5,714,076 | €6,069,477 | +€355,401 | +6.2% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €241,397 | -€75,385 | -€316,782 | |
| Own construction capitalised | 72 | €0 | - | = | |
| Other operating income | 74 | €125,165 | €165,564 | +€40,400 | +32.3% |
| Operating charges | 60/66A | €5,772,814 | €5,967,301 | +€194,487 | +3.4% |
| Goods for resale, raw materials and consumables | 60 | €2,258,380 | €2,368,893 | +€110,512 | +4.9% |
| Purchases | 600/8 | €2,258,380 | €2,368,893 | +€110,512 | +4.9% |
| Services and other goods | 61 | €1,013,600 | €1,149,676 | +€136,076 | +13.4% |
| Remuneration, social security and pensions | 62 | €1,874,252 | €2,185,504 | +€311,253 | +16.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,217 | €137,110 | +€52,893 | +62.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €10,385 | -€10,642 | -€21,027 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €525,877 | €131,960 | -€393,917 | -74.9% |
| Other operating charges | 640/8 | €6,104 | €4,800 | -€1,303 | -21.4% |
| Operating profit (loss) | 9901 | €307,823 | €192,355 | -€115,468 | -37.5% |
| Financial income | 75/76B | €248,011 | €340,709 | +€92,699 | +37.4% |
| Recurring financial income | 75 | €248,011 | €340,709 | +€92,699 | +37.4% |
| Income from current assets | 751 | €247,969 | €340,709 | +€92,739 | +37.4% |
| Other financial income | 752/9 | €42 | €1 | -€41 | -97.9% |
| Financial charges | 65/66B | €23,532 | €30,467 | +€6,935 | +29.5% |
| Recurring financial charges | 65 | €23,532 | €30,467 | +€6,935 | +29.5% |
| Debt charges | 650 | €5,488 | €11,963 | +€6,475 | +118.0% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €3,816 | - | -€3,816 | |
| Other financial charges | 652/9 | €14,229 | €18,504 | +€4,275 | +30.0% |
| Profit (loss) for the period before taxes | 9903 | €532,302 | €502,597 | -€29,704 | -5.6% |
| Income taxes | 67/77 | €137,580 | €146,919 | +€9,339 | +6.8% |
| Taxes | 670/3 | €139,632 | €146,919 | +€7,287 | +5.2% |
| Tax adjustments and reversals of tax provisions | 77 | €2,051 | - | -€2,051 | |
| Profit (loss) for the period | 9904 | €394,722 | €355,678 | -€39,043 | -9.9% |
| Profit (loss) for the period to be appropriated | 9905 | €394,722 | €355,678 | -€39,043 | -9.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.