F.E.M.M.: 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.
F.E.M.M.
Largest movements
- Cash +€39,609
up €39,609 (+30.6%), from €129,498 to €169,107
mainly Other debts (+€77,511) and Net result for the year (+€41,408)
- Receivables within one year -€2,834
down €2,834 (-40.9%), from €6,937 to €4,102
of which Other amounts receivable: -€2,574
- Other debts +€77,511
up €77,511 (+964%), from €8,037 to €85,548
- Reserves -€48,525
down €48,525 (-38.1%), from €127,311 to €78,786
- Tax, wage and social debts +€8,057
up €8,057 (+381%), from €2,113 to €10,170
of which Taxes: +€8,057
- Gross operating margin +€25,249
up €25,249 (+55.8%), from €45,256 to €70,505
- Taxes +€16,185
up €16,185 (+170%), from €9,510 to €25,695
- Depreciation -€12,760
down €12,760 (-85.6%), from €14,906 to €2,146
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 | €139,102 | €176,813 | +€37,711 | +27.1% |
| Fixed assets | 21/28 | €2,388 | €3,373 | +€985 | +41.3% |
| Tangible fixed assets | 22/27 | €2,238 | €3,223 | +€985 | +44.0% |
| Furniture and vehicles | 24 | €2,238 | €3,223 | +€985 | +44.0% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €136,715 | €173,441 | +€36,726 | +26.9% |
| Amounts receivable within one year | 40/41 | €6,937 | €4,102 | -€2,834 | -40.9% |
| Trade receivables | 40 | €3,999 | €3,739 | -€260 | -6.5% |
| Other amounts receivable | 41 | €2,938 | €364 | -€2,574 | -87.6% |
| Cash at bank and in hand | 54/58 | €129,498 | €169,107 | +€39,609 | +30.6% |
| Deferred charges and accrued income | 490/1 | €280 | €232 | -€49 | -17.3% |
| Total equity and liabilities | 10/49 | €139,102 | €176,813 | +€37,711 | +27.1% |
| Equity | 10/15 | €128,311 | €79,786 | -€48,525 | -37.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €127,311 | €78,786 | -€48,525 | -38.1% |
| Distributable reserves | 133 | €127,311 | €78,786 | -€48,525 | -38.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €10,791 | €97,027 | +€86,236 | +799% |
| Amounts payable within one year | 42/48 | €10,791 | €97,027 | +€86,236 | +799% |
| Trade debts | 44 | €641 | €1,309 | +€668 | +104% |
| Suppliers | 440/4 | €641 | €1,309 | +€668 | +104% |
| Taxes, remuneration and social security | 45 | €2,113 | €10,170 | +€8,057 | +381% |
| Taxes | 450/3 | €2,113 | €10,170 | +€8,057 | +381% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €8,037 | €85,548 | +€77,511 | +964% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,906 | €2,146 | -€12,760 | -85.6% |
| Other operating charges | 640/8 | €834 | €1,040 | +€206 | +24.7% |
| Gross operating margin | 9900 | €45,256 | €70,505 | +€25,249 | +55.8% |
| Operating profit (loss) | 9901 | €29,516 | €67,318 | +€37,803 | +128% |
| Financial income | 75/76B | €0 | €0 | +€0 | +450% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +450% |
| Financial charges | 65/66B | €307 | €216 | -€91 | -29.7% |
| Recurring financial charges | 65 | €307 | €216 | -€91 | -29.7% |
| Profit (loss) for the period before taxes | 9903 | €29,209 | €67,103 | +€37,894 | +130% |
| Income taxes | 67/77 | €9,510 | €25,695 | +€16,185 | +170% |
| Profit (loss) for the period | 9904 | €19,699 | €41,408 | +€21,709 | +110% |
| Profit (loss) for the period to be appropriated | 9905 | €19,699 | €41,408 | +€21,709 | +110% |
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.