Le Fenil: 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.
Le Fenil
Largest movements
- Current investments +€59,776
up €59,776, from €0 to €59,776
- Cash -€41,952
down €41,952 (-36.1%), from €116,071 to €74,118
mainly Current investments (-€59,776) and Investment in fixed assets (net) (-€53,574)
- Tangible fixed assets -€26,093
down €26,093 (-6.2%), from €421,527 to €395,434
of which Land and buildings: -€49,540
- Debts after one year -€21,427
down €21,427 (-4.9%), from €433,284 to €411,857
- Reserves +€18,340
up €18,340 (+733.6%), from €2,500 to €20,840
of which Distributable reserves: +€18,340
- Gross operating margin +€25,611
up €25,611 (+15.9%), from €160,937 to €186,548
- Staff costs +€12,186
up €12,186 (+24.1%), from €50,557 to €62,743
- Depreciation -€2,883
down €2,883 (-3.5%), from €82,710 to €79,827
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 | €567,605 | €567,499 | -€106 | 0.0% |
| Fixed assets | 21/28 | €421,687 | €395,434 | -€26,253 | -6.2% |
| Tangible fixed assets | 22/27 | €421,527 | €395,434 | -€26,093 | -6.2% |
| Land and buildings | 22 | €342,508 | €292,967 | -€49,540 | -14.5% |
| Plant, machinery and equipment | 23 | €21,512 | €13,178 | -€8,334 | -38.7% |
| Furniture and vehicles | 24 | €57,508 | €89,289 | +€31,781 | +55.3% |
| Financial fixed assets | 28 | €160 | €0 | -€160 | -100.0% |
| Current assets | 29/58 | €145,918 | €172,065 | +€26,147 | +17.9% |
| Stocks and contracts in progress | 3 | €16,412 | €21,424 | +€5,012 | +30.5% |
| Stocks | 30/36 | €16,412 | €21,424 | +€5,012 | +30.5% |
| Amounts receivable within one year | 40/41 | €11,094 | €14,683 | +€3,589 | +32.4% |
| Trade receivables | 40 | €5,205 | €6,707 | +€1,502 | +28.9% |
| Other amounts receivable | 41 | €5,889 | €7,976 | +€2,087 | +35.4% |
| Current investments | 50/53 | €0 | €59,776 | +€59,776 | |
| Cash at bank and in hand | 54/58 | €116,071 | €74,118 | -€41,952 | -36.1% |
| Deferred charges and accrued income | 490/1 | €2,341 | €2,064 | -€278 | -11.9% |
| Total equity and liabilities | 10/49 | €567,605 | €567,499 | -€106 | 0.0% |
| Equity | 10/15 | €44,312 | €58,059 | +€13,747 | +31.0% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €2,500 | €20,840 | +€18,340 | +733.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €2,500 | €20,840 | +€18,340 | +733.6% |
| Profit (loss) carried forward | 14 | €2,180 | €514 | -€1,666 | -76.4% |
| Investment grants | 15 | €14,632 | €11,706 | -€2,926 | -20.0% |
| Amounts payable | 17/49 | €523,293 | €509,440 | -€13,853 | -2.6% |
| Amounts payable after more than one year | 17 | €433,284 | €411,857 | -€21,427 | -4.9% |
| Financial debts | 170/4 | €433,284 | €411,857 | -€21,427 | -4.9% |
| Amounts payable within one year | 42/48 | €85,288 | €92,863 | +€7,576 | +8.9% |
| Current portion of amounts payable after more than one year | 42 | €58,962 | €59,639 | +€677 | +1.1% |
| Trade debts | 44 | €6,206 | €9,213 | +€3,007 | +48.5% |
| Suppliers | 440/4 | €6,206 | €9,213 | +€3,007 | +48.5% |
| Taxes, remuneration and social security | 45 | €20,120 | €22,346 | +€2,226 | +11.1% |
| Taxes | 450/3 | €9,248 | €12,037 | +€2,789 | +30.2% |
| Remuneration and social security | 454/9 | €10,872 | €10,308 | -€563 | -5.2% |
| Other amounts payable | 47/48 | €0 | €1,666 | +€1,666 | |
| Accrued charges and deferred income | 492/3 | €4,721 | €4,719 | -€2 | 0.0% |
| Non-recurring operating income | 76A | €7,468 | €9,412 | +€1,945 | +26.0% |
| Remuneration, social security and pensions | 62 | €50,557 | €62,743 | +€12,186 | +24.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,710 | €79,827 | -€2,883 | -3.5% |
| Other operating charges | 640/8 | €5,752 | €5,316 | -€436 | -7.6% |
| Gross operating margin | 9900 | €160,937 | €186,548 | +€25,611 | +15.9% |
| Operating profit (loss) | 9901 | €21,918 | €38,661 | +€16,743 | +76.4% |
| Financial income | 75/76B | €3,475 | €3,838 | +€363 | +10.4% |
| Recurring financial income | 75 | €3,475 | €3,838 | +€363 | +10.4% |
| Financial charges | 65/66B | €19,190 | €18,828 | -€362 | -1.9% |
| Recurring financial charges | 65 | €19,190 | €18,828 | -€362 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | €6,204 | €23,671 | +€17,467 | +281.6% |
| Income taxes | 67/77 | €5,397 | €5,332 | -€65 | -1.2% |
| Profit (loss) for the period | 9904 | €807 | €18,340 | +€17,533 | +2173.4% |
| Profit (loss) for the period to be appropriated | 9905 | €807 | €18,340 | +€17,533 | +2173.4% |
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 5 October 2026 via checked.be.