FMO
Annual accounts 2025
abbreviated format, filed on 15-06-2026, 46 days before the deadlineTurnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €730,000. Estimated: probably between €570,000 and €1.3m.
Balance sheet
balance sheet total €3.0m on 31-12-2025in €m
in €m
Position in the sector
81.3%
Higher than 77% of 10,855 companies in 2025.
18.54
Higher than 94% of 10,477 companies in 2025.
10.7%
Higher than 66% of 10,724 companies in 2025.
Net result: top quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||
20/58 |
3.0m | 3.1m | 1.9m | 1.5m | 973,289 | 802,434 | 700,256 | 576,647 | 554,829 | 547,096 | 493,807 | 349,766 | 221,422 | |
21/28 |
181,353 | 197,645 | 230,812 | 248,677 | 178,941 | 182,789 | 202,279 | 228,646 | 254,727 | 220,568 | 102,090 | 4,772 | 597 | |
22/27 |
181,353 | 197,645 | 230,812 | 248,677 | 178,941 | 182,789 | 202,279 | 228,646 | 254,727 | 220,568 | 102,090 | 4,772 | 597 | |
22 |
95,913 | 109,615 | 123,317 | 137,019 | 150,721 | 164,423 | 178,125 | 191,827 | 205,529 | 177,917 | 98,819 | - | - | |
23 |
17,391 | 9,578 | 13,315 | 13,813 | 14,217 | 14,866 | 13,943 | 16,324 | 17,402 | 1,080 | 437 | 994 | 597 | |
24 |
34,879 | 46,501 | 61,828 | 78,177 | 14,003 | 3,500 | 10,211 | 20,495 | 31,797 | 41,571 | 2,834 | 3,778 | - | |
26 |
33,169 | 31,950 | 32,352 | 19,669 | - | - | - | - | - | - | - | - | - | |
29/58 |
2.8m | 2.9m | 1.7m | 1.2m | 794,348 | 619,645 | 497,977 | 348,000 | 300,102 | 326,528 | 391,717 | 344,993 | 220,825 | |
40/41 |
191,458 | 183,389 | 61,844 | 59,722 | 77,354 | 65,916 | 37,659 | 36,270 | 55,576 | 50,181 | 142,800 | 99,867 | 99,867 | |
40 |
178,979 | 179,416 | 57,871 | 59,486 | 58,683 | 57,979 | 37,310 | 30,875 | 30,875 | 30,875 | 142,800 | 99,867 | 99,867 | |
41 |
12,479 | 3,973 | 3,973 | 236 | 18,671 | 7,937 | 348 | 5,395 | 24,701 | 19,306 | - | - | - | |
50/53 |
1.4m | 638,472 | 923,296 | 411,821 | - | - | - | - | - | - | - | - | - | |
54/58 |
1.2m | 2.1m | 658,908 | 770,900 | 715,160 | 552,865 | 459,622 | 310,842 | 244,525 | 276,347 | 248,917 | 245,127 | 120,958 | |
490/1 |
22,192 | 4,323 | 11,213 | 3,852 | 1,834 | 864 | 697 | 888 | - | - | - | - | - | |
| Balance sheet: equity and liabilities | ||||||||||||||
10/49 |
3.0m | 3.1m | 1.9m | 1.5m | 973,289 | 802,434 | 700,256 | 576,647 | 554,829 | 547,096 | 493,807 | 349,766 | 221,422 | |
10/15 |
2.4m | 2.8m | 1.7m | 1.3m | 736,680 | 663,220 | 554,167 | 414,304 | 349,542 | 327,374 | 303,386 | 215,053 | 126,570 | |
10/11 |
6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | |
13 |
2.4m | 2.7m | 1.7m | 1.3m | 730,480 | 657,020 | 547,967 | 408,104 | 343,342 | 321,174 | 297,186 | 208,853 | 120,370 | |
130/1 |
- | - | - | - | 0 | 1,860 | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
1311 |
- | - | - | - | 0 | 1,860 | - | - | - | - | - | - | - | |
133 |
2.4m | 2.7m | 1.7m | 1.3m | 730,480 | 655,160 | 546,107 | 406,244 | 341,482 | 319,314 | 295,326 | 206,993 | 118,510 | |
14 |
0 | 0 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | |
17/49 |
557,535 | 353,261 | 182,877 | 172,000 | 236,609 | 139,214 | 146,089 | 162,343 | 205,286 | 219,722 | 190,421 | 134,712 | 94,852 | |
17 |
400,000 | 0 | 4,059 | 27,016 | 53,077 | 78,789 | 104,157 | 129,185 | 156,407 | 164,252 | 86,712 | - | - | |
170/4 |
- | 0 | 4,059 | 27,016 | 53,077 | 78,789 | 104,157 | 129,185 | 156,407 | 164,252 | 86,712 | - | - | |
178/9 |
400,000 | - | - | - | - | - | - | - | - | - | - | - | - | |
42/48 |
151,465 | 352,126 | 178,818 | 144,984 | 183,532 | 60,051 | 41,896 | 33,114 | 48,828 | 55,470 | 103,710 | 134,712 | 94,852 | |
42 |
0 | 4,059 | 22,957 | 26,061 | 25,712 | 25,368 | 25,035 | 27,229 | 39,455 | 39,637 | - | - | - | |
44 |
2,511 | 1,692 | 16,299 | 7,686 | 5,217 | 2,366 | 264 | 68 | 637 | 579 | 19,709 | 94 | 957 | |
440/4 |
2,511 | 1,692 | 16,299 | 7,686 | 5,217 | 2,366 | 264 | 68 | 637 | 579 | 19,709 | 94 | 957 | |
45 |
137,535 | 343,964 | 73,434 | 109,832 | 8,921 | 32,318 | 15,022 | 5,817 | 5,741 | 13,950 | 83,378 | 131,722 | 77,609 | |
450/3 |
137,535 | 343,964 | 71,349 | 109,832 | 8,921 | 32,318 | 15,022 | 5,817 | 5,741 | 13,950 | 83,378 | 131,722 | 77,609 | |
454/9 |
- | 0 | 2,084 | - | - | - | - | - | - | - | - | - | - | |
47/48 |
11,420 | 2,411 | 66,128 | 1,406 | 143,683 | - | 1,576 | - | 2,996 | 1,305 | 622 | 2,896 | 16,287 | |
492/3 |
6,070 | 1,135 | - | - | 0 | 374 | 36 | 44 | 51 | - | - | - | - | |
| Income statement | ||||||||||||||
9900 |
484,123 | 1.5m | 700,712 | 937,535 | 468,593 | 328,645 | 245,982 | 127,993 | 70,846 | 83,515 | 172,354 | 150,248 | 193,777 | |
630 |
37,696 | 36,822 | 35,707 | 23,046 | 18,087 | 26,731 | 26,367 | 27,385 | 27,241 | 22,542 | 16,178 | 1,859 | 836 | |
640/8 |
3,512 | 3,684 | 3,329 | 3,460 | 3,138 | 5,022 | 2,783 | 2,546 | 1,760 | 2,002 | 7,463 | 1,113 | 2,826 | |
9901 |
442,915 | 1.5m | 661,676 | 911,029 | 447,368 | 296,892 | 216,832 | 98,063 | 41,845 | 58,971 | 148,713 | 147,276 | 190,115 | |
75/76B |
61,713 | 70,764 | 12,206 | 2,252 | 142 | 323 | 230 | 381 | 1,065 | 281 | 543 | 932 | 279 | |
75 |
61,713 | 70,764 | 12,206 | 2,252 | 142 | 323 | 230 | 381 | 1,065 | 281 | 543 | 932 | 279 | |
65/66B |
22,624 | -258 | -8,300 | 41,549 | 1,847 | 2,537 | 2,198 | 2,635 | 3,349 | 3,044 | 2,479 | 1,626 | 3,957 | |
65 |
22,624 | -258 | -8,300 | 41,549 | 1,847 | 2,537 | 2,198 | 2,635 | 3,349 | 3,044 | 2,479 | 1,626 | 3,957 | |
9903 |
482,004 | 1.5m | 682,182 | 871,732 | 445,662 | 294,677 | 214,864 | 95,809 | 39,561 | 56,208 | 146,777 | 146,582 | 186,437 | |
67/77 |
160,831 | 489,739 | 213,970 | 285,440 | 141,371 | 97,141 | 74,201 | 31,048 | 17,393 | 32,219 | 58,445 | 58,098 | 66,067 | |
9904 |
321,173 | 1.0m | 468,212 | 586,292 | 304,291 | 197,537 | 140,664 | 64,761 | 22,168 | 23,989 | 88,332 | 88,484 | 120,370 | |
9905 |
321,173 | 1.0m | 468,212 | 586,292 | 304,291 | 197,537 | 140,664 | 64,761 | 22,168 | 23,989 | 88,332 | 88,484 | 120,370 | |
| Appropriation of the result | ||||||||||||||
9906 |
321,173 | 1.0m | 468,212 | 586,292 | 304,291 | 197,537 | 140,664 | 64,761 | 22,168 | 23,989 | 88,332 | 88,484 | 120,370 | |
791/2 |
642,491 | 0 | 87,989 | 0 | 230,831 | 88,484 | 800 | - | - | - | - | - | - | |
691/2 |
321,173 | 1.0m | 468,212 | 586,292 | 304,291 | 197,537 | 140,664 | 64,761 | 22,168 | 23,989 | 88,332 | 88,484 | 120,370 | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | - | 1,860 | |
6921 |
321,173 | 1.0m | 468,212 | 586,292 | 304,291 | 197,537 | 140,664 | 64,761 | 22,168 | 23,989 | 88,332 | 88,484 | 118,510 | |
694/7 |
642,491 | 0 | 87,989 | 0 | 230,831 | 88,484 | 800 | - | - | - | - | - | - | |
694 |
642,491 | 0 | 87,989 | 0 | 230,831 | 88,484 | 800 | - | - | - | - | - | - | |
| Document | ||||||||||||||
The notes to these accounts have 8 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 15-06-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 15-06-2026 | 2026-00160025 | |
| 31-12-2024 | abbreviated format | 08-07-2025 | 2025-00242076 | |
| 31-12-2023 | micro format | 27-06-2024 | 2024-00168389 | |
| 31-12-2022 | micro format | 25-07-2023 | 2023-00267089 | |
| 31-12-2021 | micro format | 20-07-2022 | 2022-20204204 | |
| 31-12-2020 | micro format | 15-07-2021 | 2021-35700079 | |
| 31-12-2019 | micro format | 07-07-2020 | 2020-26600108 | |
| 31-12-2018 | micro format | 05-08-2019 | 2019-43200414 | |
| 31-12-2017 | micro format | 25-07-2018 | 2018-37600425 | |
| 31-12-2016 | micro format | 27-07-2017 | 2017-35900438 | |
| 31-12-2015 | abbreviated format | 20-07-2016 | 2016-33100288 | |
| 31-12-2014 | abbreviated format | 06-07-2015 | 2015-26500034 | |
| 31-12-2013 | abbreviated format | 25-06-2014 | 2014-21900315 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 480,611 | 1.5m | 697,383 | 934,075 | 465,454 | 323,623 | 243,200 | 125,448 | 69,086 | 81,513 | 164,891 | 149,135 | 190,951 | ||
| 358,869 | 1.1m | 503,919 | 609,338 | 322,377 | 224,268 | 167,031 | 92,146 | 49,409 | 46,531 | 104,511 | 90,343 | 121,205 | ||
| 21,404 | 3,655 | 27,257 | 92,782 | 14,239 | 7,241 | 0 | 1,304 | 61,400 | 141,020 | 113,496 | 6,035 | 1,433 | ||
| -844,616 | 1.4m | -111,992 | 55,740 | 162,295 | 93,243 | 148,780 | 66,317 | -31,822 | 27,431 | 3,790 | 124,168 | - | ||
| 2.7m | 2.6m | 1.5m | 1.1m | 610,816 | 559,593 | 456,081 | 314,886 | 251,274 | 271,058 | 288,007 | 210,281 | 125,973 | ||
| 81.3% | 88.6% | 90.3% | 88.5% | 75.7% | 82.7% | 79.1% | 71.8% | 63.0% | 59.8% | 61.4% | 61.5% | 57.2% | ||
| 18.54 | 8.26 | 9.26 | 8.60 | 4.33 | 10.32 | 11.89 | 10.51 | 6.15 | 5.89 | 3.78 | 2.56 | 2.33 | ||
| 0.23 | 0.13 | 0.11 | 0.13 | 0.32 | 0.21 | 0.26 | 0.39 | 0.59 | 0.67 | 0.63 | 0.63 | 0.75 | ||
| 13.2% | 38.1% | 27.5% | 44.3% | 41.3% | 29.8% | 25.4% | 15.6% | 6.3% | 7.3% | 29.1% | 41.1% | 95.1% | ||
| 10.7% | 33.8% | 24.8% | 39.2% | 31.3% | 24.6% | 20.1% | 11.2% | 4.0% | 4.4% | 17.9% | 25.3% | 54.4% | ||
| 21.24 | -5829.52 | -84.02 | 22.48 | over 100 | - | - | - | - | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €21,404 | €3,655 | €27,257 | €92,782 | €14,239 |
| €37,696 | €36,822 | €35,707 | €23,046 | €18,087 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on FMO
The operating result for 2025 is 70% lower than in 2024 and the lowest since 2020.
Debt's share of the balance-sheet total rises from 11.4% to 18.7%. Equity is lower and debt is higher.
- 2024 Net result +124% on 2023. The accounts now follow the abbreviated format, last year the micro format.