FEMA PROJECTS (0655.683.574): financials and annual accounts

FEMA PROJECTS

Watermael-Boitsfort ·KBO/BCE: BE 0655.683.574

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017
Balance sheet: assets
Total assets`20/58`	302,915	335,678	388,934	380,379	312,489	246,322	188,406	136,191	68,956
Fixed assets`21/28`	26,491	10,505	17,120	2,370	3,839	15,487	29,411	6,119	7,230
Tangible fixed assets`22/27`	26,491	10,505	17,120	2,370	3,839	15,487	29,411	6,119	7,230
Furniture and vehicles`24`	26,491	10,505	17,120	2,370	3,839	15,487	29,411	6,119	7,230
Current assets`29/58`	276,424	325,173	371,814	378,009	308,650	230,835	158,995	130,072	61,726
Amounts receivable within one year`40/41`	27,668	863	1,324	19,566	21,550	19,566	38,700	33,228	4,358
Trade receivables`40`	23,275	0	782	19,566	20,497	19,566	34,007	33,130	2,710
Other amounts receivable`41`	4,393	863	542	-	1,053	-	4,693	99	1,648
Current investments`50/53`	0	257,107	250,000	-	-	-	-	-	-
Cash at bank and in hand`54/58`	247,276	64,949	118,110	358,443	287,100	211,269	120,296	96,844	57,368
Deferred charges and accrued income`490/1`	1,480	2,255	2,380	-	-	-	-	-	-
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	302,915	335,678	388,934	380,379	312,489	246,322	188,406	136,191	68,956
Equity`10/15`	272,541	325,261	312,652	360,325	294,827	232,251	176,360	123,640	65,729
Contributions`10/11`	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200
Issued capital`100`	-	-	-	-	-	-	18,600	18,600	18,600
Uncalled capital`101`	-	-	-	-	-	-	12,400	12,400	12,400
Reserves`13`	266,341	319,061	306,452	354,125	288,627	226,051	170,160	117,440	59,529
Non-distributable reserves`130/1`	1,860	1,860	1,860	1,860	1,860	1,860	-	-	-
Legal reserve`130`	-	-	-	-	-	-	1,860	1,860	1,860
Reserves not available under the articles`1311`	1,860	1,860	1,860	1,860	1,860	1,860	-	-	-
Distributable reserves`133`	264,481	317,201	304,592	352,265	286,767	224,191	168,300	115,580	57,669
Profit (loss) carried forward`14`	0	0	0	-	-	-	-	-	-
Amounts payable`17/49`	30,375	10,417	76,282	20,053	17,662	14,071	12,046	12,551	3,227
Amounts payable within one year`42/48`	30,375	10,417	76,282	20,053	17,662	14,071	12,046	12,551	3,227
Trade debts`44`	2,457	9,180	2,757	1,963	4,512	1,886	2,513	1,712	3,227
Suppliers`440/4`	2,457	9,180	2,757	1,963	4,512	1,886	2,513	1,712	3,227
Taxes, remuneration and social security`45`	5,954	665	15,528	16,335	11,644	11,327	8,403	10,389	-
Taxes`450/3`	5,954	665	15,528	16,335	11,644	11,327	8,403	10,389	-
Other amounts payable`47/48`	21,963	573	57,996	1,755	1,506	857	1,131	450	-
Income statement
Gross operating margin`9900`	32,485	18,378	96,465	94,117	101,848	95,995	90,362	87,960	106,768
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	3,456	6,615	4,720	2,292	13,052	13,924	15,411	6,263	8,076
Other operating charges`640/8`	664	511	1,088	501	494	2,499	340	333	563
Non-recurring operating charges`66A`	2,944	0	617	-	-	-	-	-	-
Operating profit (loss)`9901`	25,422	11,252	90,040	91,325	88,301	79,573	74,611	81,363	98,129
Financial income`75/76B`	6,078	9,358	3,399	-	-	0	-	-	-
Recurring financial income`75`	6,078	9,358	3,399	-	-	0	-	-	-
Financial charges`65/66B`	112	57	55	118	55	101	91	50	198
Recurring financial charges`65`	112	57	55	118	55	101	91	50	198
Profit (loss) for the period before taxes`9903`	31,388	20,553	93,384	91,207	88,247	79,472	74,520	81,314	97,931
Income taxes`67/77`	9,430	7,944	25,478	25,708	25,671	23,581	21,799	23,403	38,401
Profit (loss) for the period`9904`	21,958	12,609	67,906	65,499	62,575	55,891	52,720	57,910	59,529
Profit (loss) for the period to be appropriated`9905`	21,958	12,609	67,906	65,499	62,575	55,891	52,720	57,910	59,529
Appropriation of the result
Profit (loss) to be appropriated`9906`	21,958	12,609	67,906	65,499	62,575	55,891	52,720	57,910	59,529
Transfer from equity`791/2`	52,720	0	115,580	-	-	-	-	-	-
Transfer to equity`691/2`	0	12,609	67,906	65,499	62,575	55,891	52,720	57,910	59,529
To the legal reserve`6920`	-	-	-	-	-	-	-	-	1,860
To other reserves`6921`	0	12,609	67,906	65,499	62,575	55,891	52,720	57,910	57,669
Profit to be distributed`694/7`	74,679	0	115,580	-	-	-	-	-	-
Return on contributions (dividend)`694`	74,679	0	115,580	-	-	-	-	-	-
Document	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF

Financial year	Type	Filed	Reference	Document
31-12-2025	micro format	09-03-2026	2026-00051788	PDF
31-12-2024	micro format	30-05-2025	2025-00116423	PDF
31-12-2023	micro format	06-06-2024	2024-00122034	PDF
31-12-2022	micro format	13-06-2023	2023-00126914	PDF
31-12-2021	micro format	15-06-2022	2022-20068801	PDF
31-12-2020	micro format	14-06-2021	2021-20000304	PDF
31-12-2019	micro format	08-06-2020	2020-15500198	PDF
31-12-2018	micro format	11-06-2019	2019-17600578	PDF
31-12-2017	micro format	28-06-2018	2018-25300362	PDF

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017
EBITDA	28,878	17,867	94,760	93,616	101,353	93,497	90,022	87,626	106,205
Cash flow	25,414	19,224	72,626	67,790	75,628	69,815	68,131	64,173	67,606
Investment in fixed assets (approximation)	27,510	0	20,672	823	1,404	0	38,703	5,152	15,306
Change in cash	182,327	-53,162	-240,333	71,344	75,830	90,974	23,452	39,476	-
Working capital	246,049	314,756	295,532	357,956	290,988	216,765	146,949	117,521	58,500
Solvency	90.0%	96.9%	80.4%	94.7%	94.3%	94.3%	93.6%	90.8%	95.3%
Current ratio	9.10	31.21	4.87	18.85	17.48	16.41	13.20	10.36	19.13
Debt to equity	0.11	0.03	0.24	0.06	0.06	0.06	0.07	0.10	0.05
ROE	8.1%	3.9%	21.7%	18.2%	21.2%	24.1%	29.9%	46.8%	90.6%
ROA	7.2%	3.8%	17.5%	17.2%	20.0%	22.7%	28.0%	42.5%	86.3%
Interest coverage	over 100	over 100	over 100	over 100	over 100	-	-	-	-

Item	2025	2024	2023	2022	2021
Tangible fixed assets	€27,510	-	€20,672	€823	€1,404
Depreciation and write-downs of the year	€3,456	€6,615	€4,720	€2,292	€13,052

FEMA PROJECTS

Annual accounts 2025

Balance sheet

Change in equityin euro

Change in cashin euro

Position in the sector

Solvency90.0%

Current ratio9.10

Return on assets7.2%

Filed annual accounts

Filings

Key figures and ratios

Investments

Insights on FEMA PROJECTS

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