LA FENICE: 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.
LA FENICE
Largest movements
- Cash +€22,442
up €22,442 (+69.4%), from €32,341 to €54,783
mainly Depreciation (+€14,887) and Net result for the year (+€5,390)
- Tangible fixed assets -€14,320
down €14,320 (-49.7%), from €28,831 to €14,510
of which Furniture and vehicles: -€13,902
- Stocks and contracts -€1,817
down €1,817 (-34.1%), from €5,333 to €3,517
- Deferred charges and accrued income +€1,623
up €1,623 (+2,324%), from €70 to €1,692
- Receivables within one year -€1,155
down €1,155 (-32.3%), from €3,575 to €2,419
of which Trade receivables: -€1,650
- Profit (loss) carried forward +€5,390
up €5,390 (+24.3%), from €22,147 to €27,537
- Other debts +€1,667
up €1,667 (+27.4%), from €6,081 to €7,748
- Gross operating margin +€15,177
up €15,177 (+12.1%), from €125,375 to €140,552
- Staff costs -€9,594
down €9,594 (-7.5%), from €127,271 to €117,677
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 | €70,857 | €77,063 | +€6,206 | +8.8% |
| Fixed assets | 21/28 | €29,538 | €14,652 | -€14,887 | -50.4% |
| Intangible fixed assets | 21 | €566 | - | -€566 | |
| Tangible fixed assets | 22/27 | €28,831 | €14,510 | -€14,320 | -49.7% |
| Furniture and vehicles | 24 | €28,045 | €14,143 | -€13,902 | -49.6% |
| Other tangible fixed assets | 26 | €786 | €367 | -€419 | -53.3% |
| Financial fixed assets | 28 | €141 | €141 | = | 0.0% |
| Current assets | 29/58 | €41,319 | €62,412 | +€21,093 | +51.0% |
| Stocks and contracts in progress | 3 | €5,333 | €3,517 | -€1,817 | -34.1% |
| Stocks | 30/36 | €5,333 | €3,517 | -€1,817 | -34.1% |
| Amounts receivable within one year | 40/41 | €3,575 | €2,419 | -€1,155 | -32.3% |
| Trade receivables | 40 | €1,650 | - | -€1,650 | |
| Other amounts receivable | 41 | €1,925 | €2,419 | +€495 | +25.7% |
| Cash at bank and in hand | 54/58 | €32,341 | €54,783 | +€22,442 | +69.4% |
| Deferred charges and accrued income | 490/1 | €70 | €1,692 | +€1,623 | +2,324% |
| Total equity and liabilities | 10/49 | €70,857 | €77,063 | +€6,206 | +8.8% |
| Equity | 10/15 | €43,102 | €48,492 | +€5,390 | +12.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €955 | €955 | = | 0.0% |
| Non-distributable reserves | 130/1 | €955 | €955 | = | 0.0% |
| Reserves not available under the articles | 1311 | €955 | €955 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,147 | €27,537 | +€5,390 | +24.3% |
| Amounts payable | 17/49 | €27,755 | €28,572 | +€817 | +2.9% |
| Amounts payable within one year | 42/48 | €27,065 | €27,913 | +€849 | +3.1% |
| Trade debts | 44 | €13,108 | €12,751 | -€356 | -2.7% |
| Suppliers | 440/4 | €13,108 | €12,751 | -€356 | -2.7% |
| Taxes, remuneration and social security | 45 | €7,876 | €7,414 | -€462 | -5.9% |
| Taxes | 450/3 | €2,398 | €1,537 | -€861 | -35.9% |
| Remuneration and social security | 454/9 | €5,478 | €5,877 | +€399 | +7.3% |
| Other amounts payable | 47/48 | €6,081 | €7,748 | +€1,667 | +27.4% |
| Accrued charges and deferred income | 492/3 | €691 | €659 | -€32 | -4.6% |
| Remuneration, social security and pensions | 62 | €127,271 | €117,677 | -€9,594 | -7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,251 | €14,887 | -€364 | -2.4% |
| Other operating charges | 640/8 | €499 | €318 | -€182 | -36.4% |
| Gross operating margin | 9900 | €125,375 | €140,552 | +€15,177 | +12.1% |
| Operating profit (loss) | 9901 | -€17,647 | €7,670 | +€25,317 | |
| Financial charges | 65/66B | €1,575 | €2,281 | +€705 | +44.8% |
| Recurring financial charges | 65 | €1,575 | €2,281 | +€705 | +44.8% |
| Profit (loss) for the period before taxes | 9903 | -€19,222 | €5,390 | +€24,611 | |
| Profit (loss) for the period | 9904 | -€19,222 | €5,390 | +€24,611 | |
| Profit (loss) for the period to be appropriated | 9905 | -€19,222 | €5,390 | +€24,611 |
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 20 October 2026 via checked.be.