FUNÉCO: 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.
FUNÉCO
Largest movements
- Receivables within one year -€60,165
down €60,165 (-83.3%), from €72,213 to €12,048
of which Trade receivables: -€61,782
- Cash -€41,949
down €41,949 (-45.8%), from €91,620 to €49,671
mainly Trade debts (-€49,720) and Other debts (-€49,011)
- Tangible fixed assets -€14,601
down €14,601 (-3.7%), from €398,265 to €383,664
of which Land and buildings: -€11,623
- Trade debts -€49,720
down €49,720 (-70.3%), from €70,711 to €20,990
- Other debts -€49,011
down €49,011 (-30.7%), from €159,528 to €110,518
- Debts after one year -€16,885
down €16,885 (-13.1%), from €128,878 to €111,994
- Profit (loss) carried forward -€5,879
down €5,879 (-3.3%), from €175,594 to €169,715
- Gross operating margin -€30,228
down €30,228 (-56.6%), from €53,383 to €23,155
- Taxes -€15,234
no longer reported in 2025 (was €15,234)
- Other operating charges +€6,551
up €6,551 (+310%), from €2,114 to €8,665
- Depreciation -€744
down €744 (-4.3%), from €17,372 to €16,628
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 | €580,797 | €459,163 | -€121,634 | -20.9% |
| Fixed assets | 21/28 | €400,421 | €385,434 | -€14,987 | -3.7% |
| Intangible fixed assets | 21 | €386 | - | -€386 | |
| Tangible fixed assets | 22/27 | €398,265 | €383,664 | -€14,601 | -3.7% |
| Land and buildings | 22 | €380,502 | €368,879 | -€11,623 | -3.1% |
| Plant, machinery and equipment | 23 | €17,239 | €14,785 | -€2,454 | -14.2% |
| Furniture and vehicles | 24 | €524 | - | -€524 | |
| Financial fixed assets | 28 | €1,770 | €1,770 | = | 0.0% |
| Current assets | 29/58 | €180,376 | €73,729 | -€106,647 | -59.1% |
| Stocks and contracts in progress | 3 | €12,190 | €12,010 | -€180 | -1.5% |
| Stocks | 30/36 | €12,190 | €12,010 | -€180 | -1.5% |
| Amounts receivable within one year | 40/41 | €72,213 | €12,048 | -€60,165 | -83.3% |
| Trade receivables | 40 | €72,213 | €10,431 | -€61,782 | -85.6% |
| Other amounts receivable | 41 | - | €1,617 | +€1,617 | |
| Cash at bank and in hand | 54/58 | €91,620 | €49,671 | -€41,949 | -45.8% |
| Deferred charges and accrued income | 490/1 | €4,353 | - | -€4,353 | |
| Total equity and liabilities | 10/49 | €580,797 | €459,163 | -€121,634 | -20.9% |
| Equity | 10/15 | €195,999 | €190,120 | -€5,879 | -3.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €175,594 | €169,715 | -€5,879 | -3.3% |
| Amounts payable | 17/49 | €384,798 | €269,043 | -€115,755 | -30.1% |
| Amounts payable after more than one year | 17 | €128,878 | €111,994 | -€16,885 | -13.1% |
| Financial debts | 170/4 | €128,878 | €111,994 | -€16,885 | -13.1% |
| Amounts payable within one year | 42/48 | €255,919 | €157,049 | -€98,870 | -38.6% |
| Current portion of amounts payable after more than one year | 42 | €16,548 | €16,885 | +€337 | +2.0% |
| Trade debts | 44 | €70,711 | €20,990 | -€49,720 | -70.3% |
| Suppliers | 440/4 | €70,711 | €20,990 | -€49,720 | -70.3% |
| Taxes, remuneration and social security | 45 | €9,132 | €8,656 | -€476 | -5.2% |
| Taxes | 450/3 | €9,132 | €8,656 | -€476 | -5.2% |
| Other amounts payable | 47/48 | €159,528 | €110,518 | -€49,011 | -30.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,372 | €16,628 | -€744 | -4.3% |
| Other operating charges | 640/8 | €2,114 | €8,665 | +€6,551 | +310% |
| Gross operating margin | 9900 | €53,383 | €23,155 | -€30,228 | -56.6% |
| Operating profit (loss) | 9901 | €33,898 | -€2,137 | -€36,035 | |
| Financial income | 75/76B | €19 | €8 | -€11 | -56.0% |
| Recurring financial income | 75 | €19 | €8 | -€11 | -56.0% |
| Financial charges | 65/66B | €3,529 | €3,750 | +€221 | +6.3% |
| Recurring financial charges | 65 | €3,529 | €3,750 | +€221 | +6.3% |
| Profit (loss) for the period before taxes | 9903 | €30,387 | -€5,879 | -€36,267 | |
| Income taxes | 67/77 | €15,234 | - | -€15,234 | |
| Profit (loss) for the period | 9904 | €15,153 | -€5,879 | -€21,033 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,153 | -€5,879 | -€21,033 |
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 14 October 2026 via checked.be.