F.M.A.: 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.
What changed
F.M.A.
NACE 46.649, Wholesale of other machinery and equipment
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€165,634
2024 · €218,801-€53,166
Equity
€288,575
2024 · €287,941+€634
Cash
€41,703
2024 · €38,949+€2,754
Balance sheet total
€939,490
2024 · €897,772+€41,719
Largest movements
Assets
- Receivables within one year +€75,740
up €75,740 (+28.3%), from €267,897 to €343,636
of which Trade receivables: +€77,492
- Tangible fixed assets -€20,617
down €20,617 (-18.2%), from €113,005 to €92,388
of which Other tangible fixed assets: -€25,023
- Stocks and contracts -€16,733
down €16,733 (-3.6%), from €467,458 to €450,725
Equity and liabilities
- Debts after one year +€128,219
up €128,219 (+60.6%), from €211,479 to €339,698
- Other debts -€124,334
down €124,334 (-41.1%), from €302,233 to €177,900
- Trade debts +€33,386
up €33,386 (+53.7%), from €62,191 to €95,577
Income statement
- Staff costs +€45,139
up €45,139 (+31.9%), from €141,339 to €186,477
- Gross operating margin -€7,755
down €7,755 (-1.8%), from €420,132 to €412,377
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.
Result 2024
€218,801
Gross operating margin
-€7,755
Staff costs
-€45,139
Depreciation
-€1,327
Write-downs
+€1,347
Other operating charges
-€10
Financial income
+€493
Financial charges
+€99
Taxes
-€874
Result 2025
€165,634
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.
From operations
+€65,388
Investment
-€23,157
Financing
-€39,478
Cash 2024
€38,949
From operations (derived)
+€65,388
Net result for the year
+€165,634
Depreciation
+€43,774
Stocks and contracts
+€16,733
Receivables within one year
-€75,740
Deferred charges and accrued income
-€575
Trade debts
+€33,386
Tax, wage and social debts
+€6,503
Other debts
-€124,334
Accrued charges and deferred income
+€6
Investment (derived)
-€23,157
Investment in fixed assets (net)
-€23,157
Financing
-€39,478
Debts after one year
+€128,219
Current portion of long-term debt
-€2,781
Short-term financial debts
+€84
Contributions, distributions and other
-€165,000
Cash 2025
€41,703
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €897,772 | €939,490 | +€41,719 | +4.6% |
| Fixed assets | 21/28 | €113,005 | €92,388 | -€20,617 | -18.2% |
| Tangible fixed assets | 22/27 | €113,005 | €92,388 | -€20,617 | -18.2% |
| Plant, machinery and equipment | 23 | €29,688 | €36,139 | +€6,451 | +21.7% |
| Furniture and vehicles | 24 | €26,648 | €24,603 | -€2,045 | -7.7% |
| Other tangible fixed assets | 26 | €56,669 | €31,647 | -€25,023 | -44.2% |
| Current assets | 29/58 | €784,766 | €847,102 | +€62,335 | +7.9% |
| Stocks and contracts in progress | 3 | €467,458 | €450,725 | -€16,733 | -3.6% |
| Stocks | 30/36 | €467,458 | €450,725 | -€16,733 | -3.6% |
| Amounts receivable within one year | 40/41 | €267,897 | €343,636 | +€75,740 | +28.3% |
| Trade receivables | 40 | €264,811 | €342,303 | +€77,492 | +29.3% |
| Other amounts receivable | 41 | €3,086 | €1,333 | -€1,752 | -56.8% |
| Cash at bank and in hand | 54/58 | €38,949 | €41,703 | +€2,754 | +7.1% |
| Deferred charges and accrued income | 490/1 | €10,463 | €11,038 | +€575 | +5.5% |
| Total equity and liabilities | 10/49 | €897,772 | €939,490 | +€41,719 | +4.6% |
| Equity | 10/15 | €287,941 | €288,575 | +€634 | +0.2% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €226,441 | €227,075 | +€634 | +0.3% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €220,291 | €220,925 | +€634 | +0.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €609,831 | €650,915 | +€41,084 | +6.7% |
| Amounts payable after more than one year | 17 | €211,479 | €339,698 | +€128,219 | +60.6% |
| Financial debts | 170/4 | €211,479 | €339,698 | +€128,219 | +60.6% |
| Amounts payable within one year | 42/48 | €398,352 | €311,211 | -€87,141 | -21.9% |
| Current portion of amounts payable after more than one year | 42 | €22,562 | €19,781 | -€2,781 | -12.3% |
| Financial debts | 43 | €0 | €84 | +€84 | |
| Credit institutions | 430/8 | €0 | €84 | +€84 | |
| Trade debts | 44 | €62,191 | €95,577 | +€33,386 | +53.7% |
| Suppliers | 440/4 | €62,191 | €95,577 | +€33,386 | +53.7% |
| Taxes, remuneration and social security | 45 | €11,366 | €17,869 | +€6,503 | +57.2% |
| Taxes | 450/3 | €2,045 | €5,737 | +€3,692 | +180.5% |
| Remuneration and social security | 454/9 | €9,321 | €12,133 | +€2,811 | +30.2% |
| Other amounts payable | 47/48 | €302,233 | €177,900 | -€124,334 | -41.1% |
| Accrued charges and deferred income | 492/3 | - | €6 | +€6 | |
| Remuneration, social security and pensions | 62 | €141,339 | €186,477 | +€45,139 | +31.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,447 | €43,774 | +€1,327 | +3.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,690 | €343 | -€1,347 | -79.7% |
| Other operating charges | 640/8 | €2,380 | €2,390 | +€10 | +0.4% |
| Gross operating margin | 9900 | €420,132 | €412,377 | -€7,755 | -1.8% |
| Operating profit (loss) | 9901 | €232,277 | €179,393 | -€52,884 | -22.8% |
| Financial income | 75/76B | €207 | €699 | +€493 | +238.5% |
| Recurring financial income | 75 | €207 | €699 | +€493 | +238.5% |
| Financial charges | 65/66B | €11,638 | €11,539 | -€99 | -0.9% |
| Recurring financial charges | 65 | €11,638 | €11,539 | -€99 | -0.9% |
| Profit (loss) for the period before taxes | 9903 | €220,845 | €168,554 | -€52,292 | -23.7% |
| Income taxes | 67/77 | €2,045 | €2,919 | +€874 | +42.8% |
| Profit (loss) for the period | 9904 | €218,801 | €165,634 | -€53,166 | -24.3% |
| Profit (loss) for the period to be appropriated | 9905 | €218,801 | €165,634 | -€53,166 | -24.3% |
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 7 October 2026 via checked.be.