R.FELLER: what changed
R.FELLER
Largest movements
- Cash -€11,450
down €11,450 (-47.1%), from €24,293 to €12,842
mainly Other debts (-€27,011) and Debts after one year (-€6,060)
- Tangible fixed assets -€7,163
down €7,163 (-20.2%), from €35,460 to €28,297
of which Furniture and vehicles: -€4,123
- Stocks and contracts -€835
down €835 (-8.8%), from €9,437 to €8,602
- Other debts -€27,011
down €27,011 (-95.2%), from €28,371 to €1,359
- Tax, wage and social debts +€6,144
up €6,144 (+180%), from €3,422 to €9,566
- Debts after one year -€6,060
down €6,060 (-47.1%), from €12,874 to €6,814
- Profit (loss) carried forward +€5,935
up €5,935 (+380%), from €1,560 to €7,496
- Trade debts +€1,394
up €1,394 (+14.7%), from €9,462 to €10,856
- Gross operating margin +€24,067
up €24,067 (+89.7%), from €26,816 to €50,882
- Staff costs +€10,616
up €10,616 (+73.8%), from €14,392 to €25,008
- Other operating charges +€5,890
up €5,890 (+528%), from €1,114 to €7,004
- Depreciation +€2,937
up €2,937 (+51.3%), from €5,723 to €8,661
- Taxes +€1,359
up €1,359 (+192%), from €707 to €2,066
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €69,536 | €50,150 | -€19,385 | -27.9% |
| Fixed assets | 21/28 | €35,460 | €28,297 | -€7,163 | -20.2% |
| Tangible fixed assets | 22/27 | €35,460 | €28,297 | -€7,163 | -20.2% |
| Plant, machinery and equipment | 23 | €13,224 | €10,184 | -€3,040 | -23.0% |
| Furniture and vehicles | 24 | €22,237 | €18,114 | -€4,123 | -18.5% |
| Current assets | 29/58 | €34,075 | €21,853 | -€12,222 | -35.9% |
| Stocks and contracts in progress | 3 | €9,437 | €8,602 | -€835 | -8.8% |
| Stocks | 30/36 | €9,437 | €8,602 | -€835 | -8.8% |
| Amounts receivable within one year | 40/41 | - | €137 | +€137 | |
| Other amounts receivable | 41 | - | €137 | +€137 | |
| Cash at bank and in hand | 54/58 | €24,293 | €12,842 | -€11,450 | -47.1% |
| Deferred charges and accrued income | 490/1 | €346 | €272 | -€74 | -21.5% |
| Total equity and liabilities | 10/49 | €69,536 | €50,150 | -€19,385 | -27.9% |
| Equity | 10/15 | €9,560 | €15,496 | +€5,935 | +62.1% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,560 | €7,496 | +€5,935 | +380% |
| Amounts payable | 17/49 | €59,976 | €34,655 | -€25,321 | -42.2% |
| Amounts payable after more than one year | 17 | €12,874 | €6,814 | -€6,060 | -47.1% |
| Financial debts | 170/4 | €12,874 | €6,814 | -€6,060 | -47.1% |
| Amounts payable within one year | 42/48 | €47,102 | €27,841 | -€19,261 | -40.9% |
| Current portion of amounts payable after more than one year | 42 | €5,847 | €6,060 | +€213 | +3.6% |
| Trade debts | 44 | €9,462 | €10,856 | +€1,394 | +14.7% |
| Suppliers | 440/4 | €9,462 | €10,856 | +€1,394 | +14.7% |
| Taxes, remuneration and social security | 45 | €3,422 | €9,566 | +€6,144 | +180% |
| Taxes | 450/3 | €3,422 | €9,566 | +€6,144 | +180% |
| Other amounts payable | 47/48 | €28,371 | €1,359 | -€27,011 | -95.2% |
| Remuneration, social security and pensions | 62 | €14,392 | €25,008 | +€10,616 | +73.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,723 | €8,661 | +€2,937 | +51.3% |
| Other operating charges | 640/8 | €1,114 | €7,004 | +€5,890 | +528% |
| Gross operating margin | 9900 | €26,816 | €50,882 | +€24,067 | +89.7% |
| Operating profit (loss) | 9901 | €5,585 | €10,210 | +€4,624 | +82.8% |
| Financial income | 75/76B | €88 | €10 | -€77 | -88.2% |
| Recurring financial income | 75 | €88 | €10 | -€77 | -88.2% |
| Financial charges | 65/66B | €3,406 | €2,219 | -€1,187 | -34.9% |
| Recurring financial charges | 65 | €3,406 | €2,219 | -€1,187 | -34.9% |
| Profit (loss) for the period before taxes | 9903 | €2,267 | €8,001 | +€5,734 | +253% |
| Income taxes | 67/77 | €707 | €2,066 | +€1,359 | +192% |
| Profit (loss) for the period | 9904 | €1,560 | €5,935 | +€4,375 | +280% |
| Profit (loss) for the period to be appropriated | 9905 | €1,560 | €5,935 | +€4,375 | +280% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.