FIEHAN: 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.
FIEHAN
Largest movements
- Current investments -€99,049
down €99,049 (-33.0%), from €300,000 to €200,951
- Cash +€72,845
up €72,845 (+130.8%), from €55,700 to €128,545
mainly Current investments (+€99,049) and Deferred charges and accrued income (+€26,250)
- Receivables within one year +€65,490
up €65,490 (+109.2%), from €59,972 to €125,462
of which Trade receivables: +€67,441
- Deferred charges and accrued income -€26,250
no longer reported in 2025 (was €26,250)
- Tangible fixed assets -€6,504
down €6,504 (-65.2%), from €9,981 to €3,478
of which Furniture and vehicles: -€5,923
- Tax, wage and social debts +€11,479
up €11,479 (+151.1%), from €7,596 to €19,074
- Other debts -€9,352
down €9,352 (-21.9%), from €42,713 to €33,361
- Reserves +€4,606
up €4,606 (+1.2%), from €392,042 to €396,648
- Gross operating margin -€12,404
down €12,404, from €5,367 to -€7,037
- Financial income +€10,097
up €10,097 (+155.5%), from €6,494 to €16,591
of which Non-recurring financial income: +€15,232
- Depreciation -€4,189
down €4,189 (-65.2%), from €6,424 to €2,236
- Taxes +€194
up €194 (+37.9%), from €513 to €708
- Financial charges -€172
down €172 (-18.0%), from €960 to €787
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 | €451,903 | €458,437 | +€6,533 | +1.4% |
| Fixed assets | 21/28 | €9,981 | €3,478 | -€6,504 | -65.2% |
| Tangible fixed assets | 22/27 | €9,981 | €3,478 | -€6,504 | -65.2% |
| Land and buildings | 22 | €350 | €262 | -€87 | -25.0% |
| Plant, machinery and equipment | 23 | €1,972 | €1,479 | -€493 | -25.0% |
| Furniture and vehicles | 24 | €7,660 | €1,736 | -€5,923 | -77.3% |
| Current assets | 29/58 | €441,922 | €454,959 | +€13,037 | +2.9% |
| Amounts receivable within one year | 40/41 | €59,972 | €125,462 | +€65,490 | +109.2% |
| Trade receivables | 40 | €13,321 | €80,762 | +€67,441 | +506.3% |
| Other amounts receivable | 41 | €46,651 | €44,700 | -€1,951 | -4.2% |
| Current investments | 50/53 | €300,000 | €200,951 | -€99,049 | -33.0% |
| Cash at bank and in hand | 54/58 | €55,700 | €128,545 | +€72,845 | +130.8% |
| Deferred charges and accrued income | 490/1 | €26,250 | - | -€26,250 | |
| Total equity and liabilities | 10/49 | €451,903 | €458,437 | +€6,533 | +1.4% |
| Equity | 10/15 | €398,242 | €402,848 | +€4,606 | +1.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €392,042 | €396,648 | +€4,606 | +1.2% |
| Distributable reserves | 133 | €392,042 | €396,648 | +€4,606 | +1.2% |
| Amounts payable | 17/49 | €53,662 | €55,589 | +€1,927 | +3.6% |
| Amounts payable within one year | 42/48 | €53,662 | €55,589 | +€1,927 | +3.6% |
| Trade debts | 44 | €3,353 | €3,154 | -€200 | -5.9% |
| Suppliers | 440/4 | €3,353 | €3,154 | -€200 | -5.9% |
| Taxes, remuneration and social security | 45 | €7,596 | €19,074 | +€11,479 | +151.1% |
| Taxes | 450/3 | €7,596 | €19,074 | +€11,479 | +151.1% |
| Other amounts payable | 47/48 | €42,713 | €33,361 | -€9,352 | -21.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,424 | €2,236 | -€4,189 | -65.2% |
| Other operating charges | 640/8 | €1,233 | €1,218 | -€16 | -1.3% |
| Non-recurring operating charges | 66A | €578 | - | -€578 | |
| Gross operating margin | 9900 | €5,367 | -€7,037 | -€12,404 | |
| Operating profit (loss) | 9901 | -€2,869 | -€10,490 | -€7,621 | -265.6% |
| Financial income | 75/76B | €6,494 | €16,591 | +€10,097 | +155.5% |
| Recurring financial income | 75 | €6,494 | €1,359 | -€5,135 | -79.1% |
| Non-recurring financial income | 76B | - | €15,232 | +€15,232 | |
| Financial charges | 65/66B | €960 | €787 | -€172 | -18.0% |
| Recurring financial charges | 65 | €960 | €787 | -€172 | -18.0% |
| Profit (loss) for the period before taxes | 9903 | €2,665 | €5,313 | +€2,649 | +99.4% |
| Income taxes | 67/77 | €513 | €708 | +€194 | +37.9% |
| Profit (loss) for the period | 9904 | €2,152 | €4,606 | +€2,454 | +114.1% |
| Profit (loss) for the period to be appropriated | 9905 | €2,152 | €4,606 | +€2,454 | +114.1% |
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 6 October 2026 via checked.be.