FEYS & BALDUCK: 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.
FEYS & BALDUCK
Largest movements
- Tangible fixed assets -€11,007
down €11,007 (-29.0%), from €37,905 to €26,899
- Cash -€8,175
down €8,175 (-5.0%), from €164,069 to €155,894
mainly Net result for the year (-€26,508) and Current investments (-€7,754)
- Current investments +€7,754
up €7,754 (+11.1%), from €69,754 to €77,508
- Receivables within one year -€7,282
down €7,282 (-11.3%), from €64,199 to €56,917
of which Trade receivables: -€4,904
- Reserves -€26,508
down €26,508 (-14.4%), from €184,014 to €157,506
of which Distributable reserves: -€26,508
- Other debts +€8,636
up €8,636 (+10.9%), from €79,056 to €87,693
- Financial income +€1,804
up €1,804 (+133%), from €1,358 to €3,162
- Gross operating margin +€1,650
up €1,650 (+11.8%), from €13,923 to €15,572
- Financial charges -€1,258
down €1,258 (-13.3%), from €9,476 to €8,218
- Other operating charges +€238
up €238 (+20.6%), from €1,154 to €1,392
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 | €336,802 | €318,117 | -€18,685 | -5.5% |
| Fixed assets | 21/28 | €37,905 | €26,899 | -€11,007 | -29.0% |
| Tangible fixed assets | 22/27 | €37,905 | €26,899 | -€11,007 | -29.0% |
| Furniture and vehicles | 24 | €37,905 | €26,899 | -€11,007 | -29.0% |
| Current assets | 29/58 | €298,897 | €291,219 | -€7,678 | -2.6% |
| Stocks and contracts in progress | 3 | €496 | €496 | = | 0.0% |
| Stocks | 30/36 | €496 | €496 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €64,199 | €56,917 | -€7,282 | -11.3% |
| Trade receivables | 40 | €54,311 | €49,407 | -€4,904 | -9.0% |
| Other amounts receivable | 41 | €9,888 | €7,510 | -€2,378 | -24.1% |
| Current investments | 50/53 | €69,754 | €77,508 | +€7,754 | +11.1% |
| Cash at bank and in hand | 54/58 | €164,069 | €155,894 | -€8,175 | -5.0% |
| Deferred charges and accrued income | 490/1 | €379 | €404 | +€25 | +6.6% |
| Total equity and liabilities | 10/49 | €336,802 | €318,117 | -€18,685 | -5.5% |
| Equity | 10/15 | €202,614 | €176,106 | -€26,508 | -13.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €184,014 | €157,506 | -€26,508 | -14.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €184,014 | €157,506 | -€26,508 | -14.4% |
| Amounts payable | 17/49 | €134,188 | €142,012 | +€7,823 | +5.8% |
| Amounts payable within one year | 42/48 | €125,345 | €133,327 | +€7,982 | +6.4% |
| Financial debts | 43 | €39,289 | €39,289 | = | 0.0% |
| Other loans | 439 | €39,289 | €39,289 | = | 0.0% |
| Trade debts | 44 | €1,647 | €515 | -€1,132 | -68.7% |
| Suppliers | 440/4 | €1,647 | €515 | -€1,132 | -68.7% |
| Taxes, remuneration and social security | 45 | €5,353 | €5,830 | +€477 | +8.9% |
| Taxes | 450/3 | €3,519 | €5,830 | +€2,311 | +65.7% |
| Remuneration and social security | 454/9 | €1,834 | €0 | -€1,834 | -100% |
| Other amounts payable | 47/48 | €79,056 | €87,693 | +€8,636 | +10.9% |
| Accrued charges and deferred income | 492/3 | €8,843 | €8,685 | -€158 | -1.8% |
| Non-recurring operating income | 76A | €6,373 | €0 | -€6,373 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,101 | €11,007 | -€94 | -0.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €24,461 | €24,460 | -€0 | 0.0% |
| Other operating charges | 640/8 | €1,154 | €1,392 | +€238 | +20.6% |
| Non-recurring operating charges | 66A | €6,207 | €0 | -€6,207 | -100% |
| Gross operating margin | 9900 | €13,923 | €15,572 | +€1,650 | +11.8% |
| Operating profit (loss) | 9901 | -€29,000 | -€21,287 | +€7,713 | +26.6% |
| Financial income | 75/76B | €1,358 | €3,162 | +€1,804 | +133% |
| Recurring financial income | 75 | €1,358 | €3,162 | +€1,804 | +133% |
| Financial charges | 65/66B | €9,476 | €8,218 | -€1,258 | -13.3% |
| Recurring financial charges | 65 | €9,476 | €8,218 | -€1,258 | -13.3% |
| Profit (loss) for the period before taxes | 9903 | -€37,118 | -€26,343 | +€10,776 | +29.0% |
| Income taxes | 67/77 | €176 | €165 | -€11 | -6.2% |
| Profit (loss) for the period | 9904 | -€37,295 | -€26,508 | +€10,787 | +28.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€37,295 | -€26,508 | +€10,787 | +28.9% |
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 25 October 2026 via checked.be.