FJELL: 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.
FJELL
Largest movements
- Cash -€24,863
down €24,863 (-42.9%), from €57,922 to €33,059
mainly Contributions, distributions and other (-€89,000) and Investment in fixed assets (net) (-€25,629)
- Tangible fixed assets +€17,603
up €17,603 (+220.5%), from €7,982 to €25,585
of which Furniture and vehicles: +€18,780
- Deferred charges and accrued income -€14,463
down €14,463 (-77.1%), from €18,752 to €4,289
- Receivables within one year +€3,077
up €3,077 (+16.0%), from €19,258 to €22,335
of which Other amounts receivable: +€1,637
- Reserves -€47,013
down €47,013 (-95.7%), from €49,149 to €2,136
- Debts after one year +€14,688
new in 2025: €14,688
- Other debts +€8,500
up €8,500 (+33.3%), from €25,500 to €34,000
- Current portion of long-term debt +€5,526
new in 2025: €5,526
- Tax, wage and social debts +€1,991
up €1,991 (+29.7%), from €6,706 to €8,697
- Gross operating margin -€6,820
down €6,820 (-9.9%), from €68,725 to €61,905
- Taxes -€1,768
down €1,768 (-13.9%), from €12,709 to €10,941
- Depreciation +€730
up €730 (+10.0%), from €7,296 to €8,026
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 | €103,913 | €85,268 | -€18,646 | -17.9% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €7,982 | €25,585 | +€17,603 | +220.5% |
| Tangible fixed assets | 22/27 | €7,982 | €25,585 | +€17,603 | +220.5% |
| Land and buildings | 22 | €3,531 | €2,354 | -€1,177 | -33.3% |
| Furniture and vehicles | 24 | €4,451 | €23,231 | +€18,780 | +421.9% |
| Current assets | 29/58 | €95,931 | €59,682 | -€36,249 | -37.8% |
| Amounts receivable within one year | 40/41 | €19,258 | €22,335 | +€3,077 | +16.0% |
| Trade receivables | 40 | €14,375 | €15,815 | +€1,441 | +10.0% |
| Other amounts receivable | 41 | €4,883 | €6,519 | +€1,637 | +33.5% |
| Cash at bank and in hand | 54/58 | €57,922 | €33,059 | -€24,863 | -42.9% |
| Deferred charges and accrued income | 490/1 | €18,752 | €4,289 | -€14,463 | -77.1% |
| Total equity and liabilities | 10/49 | €103,913 | €85,268 | -€18,646 | -17.9% |
| Equity | 10/15 | €67,749 | €20,736 | -€47,013 | -69.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €49,149 | €2,136 | -€47,013 | -95.7% |
| Distributable reserves | 133 | €49,149 | €2,136 | -€47,013 | -95.7% |
| Amounts payable | 17/49 | €36,164 | €64,531 | +€28,367 | +78.4% |
| Amounts payable after more than one year | 17 | - | €14,688 | +€14,688 | |
| Financial debts | 170/4 | - | €14,688 | +€14,688 | |
| Amounts payable within one year | 42/48 | €35,146 | €49,363 | +€14,217 | +40.5% |
| Current portion of amounts payable after more than one year | 42 | - | €5,526 | +€5,526 | |
| Trade debts | 44 | €2,940 | €1,140 | -€1,800 | -61.2% |
| Suppliers | 440/4 | €2,940 | €1,140 | -€1,800 | -61.2% |
| Taxes, remuneration and social security | 45 | €6,706 | €8,697 | +€1,991 | +29.7% |
| Taxes | 450/3 | €6,706 | €8,697 | +€1,991 | +29.7% |
| Other amounts payable | 47/48 | €25,500 | €34,000 | +€8,500 | +33.3% |
| Accrued charges and deferred income | 492/3 | €1,018 | €480 | -€538 | -52.9% |
| Non-recurring operating income | 76A | €1,041 | €1,171 | +€130 | +12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,296 | €8,026 | +€730 | +10.0% |
| Other operating charges | 640/8 | €387 | €492 | +€105 | +27.1% |
| Gross operating margin | 9900 | €68,725 | €61,905 | -€6,820 | -9.9% |
| Operating profit (loss) | 9901 | €61,041 | €53,386 | -€7,655 | -12.5% |
| Financial income | 75/76B | €289 | €281 | -€8 | -2.8% |
| Recurring financial income | 75 | €289 | €281 | -€8 | -2.8% |
| Financial charges | 65/66B | €242 | €739 | +€497 | +205.1% |
| Recurring financial charges | 65 | €242 | €739 | +€497 | +205.1% |
| Profit (loss) for the period before taxes | 9903 | €61,088 | €52,928 | -€8,160 | -13.4% |
| Income taxes | 67/77 | €12,709 | €10,941 | -€1,768 | -13.9% |
| Profit (loss) for the period | 9904 | €48,379 | €41,987 | -€6,391 | -13.2% |
| Profit (loss) for the period to be appropriated | 9905 | €48,379 | €41,987 | -€6,391 | -13.2% |
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 8 October 2026 via checked.be.