F M D C: 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 M D C
Largest movements
- Receivables within one year +€21,065
up €21,065 (+7.6%), from €277,815 to €298,880
of which Trade receivables: +€18,968
- Cash +€15,234
up €15,234 (+220%), from €6,910 to €22,143
mainly Short-term financial debts (+€35,000) and Trade debts (+€11,549)
- Deferred charges and accrued income +€6,300
up €6,300 (+450%), from €1,400 to €7,700
- Short-term financial debts +€35,000
up €35,000 (+700%), from €5,000 to €40,000
- Trade debts +€11,549
up €11,549 (+36.7%), from €31,511 to €43,060
of which Bills of exchange payable: +€9,931
- Financial charges +€15,143
up €15,143 (+376%), from €4,030 to €19,173
of which Non-recurring financial charges: +€16,489
- Gross operating margin +€13,875
up €13,875 (+22.9%), from €60,623 to €74,498
- Depreciation -€3,239
down €3,239 (-96.1%), from €3,368 to €130
- Staff costs +€2,304
up €2,304 (+4.6%), from €50,526 to €52,830
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 | €286,641 | €329,111 | +€42,469 | +14.8% |
| Fixed assets | 21/28 | €517 | €387 | -€130 | -25.1% |
| Tangible fixed assets | 22/27 | €292 | €162 | -€130 | -44.4% |
| Plant, machinery and equipment | 23 | €292 | €162 | -€130 | -44.4% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €225 | €225 | = | 0.0% |
| Current assets | 29/58 | €286,124 | €328,723 | +€42,599 | +14.9% |
| Amounts receivable within one year | 40/41 | €277,815 | €298,880 | +€21,065 | +7.6% |
| Trade receivables | 40 | €277,815 | €296,783 | +€18,968 | +6.8% |
| Other amounts receivable | 41 | €0 | €2,097 | +€2,097 | |
| Cash at bank and in hand | 54/58 | €6,910 | €22,143 | +€15,234 | +220% |
| Deferred charges and accrued income | 490/1 | €1,400 | €7,700 | +€6,300 | +450% |
| Total equity and liabilities | 10/49 | €286,641 | €329,111 | +€42,469 | +14.8% |
| Equity | 10/15 | €159,708 | €160,012 | +€303 | +0.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €20,610 | €20,610 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €120,498 | €120,802 | +€303 | +0.3% |
| Amounts payable | 17/49 | €126,933 | €169,099 | +€42,166 | +33.2% |
| Amounts payable within one year | 42/48 | €126,933 | €169,099 | +€42,166 | +33.2% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €5,000 | €40,000 | +€35,000 | +700% |
| Credit institutions | 430/8 | €5,000 | €40,000 | +€35,000 | +700% |
| Trade debts | 44 | €31,511 | €43,060 | +€11,549 | +36.7% |
| Suppliers | 440/4 | €30,987 | €32,605 | +€1,618 | +5.2% |
| Bills of exchange payable | 441 | €524 | €10,455 | +€9,931 | +1,894% |
| Taxes, remuneration and social security | 45 | €7,546 | €5,769 | -€1,776 | -23.5% |
| Taxes | 450/3 | €1,876 | €520 | -€1,357 | -72.3% |
| Remuneration and social security | 454/9 | €5,669 | €5,250 | -€420 | -7.4% |
| Other amounts payable | 47/48 | €82,876 | €80,269 | -€2,607 | -3.1% |
| Remuneration, social security and pensions | 62 | €50,526 | €52,830 | +€2,304 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,368 | €130 | -€3,239 | -96.1% |
| Other operating charges | 640/8 | €2,088 | €1,925 | -€163 | -7.8% |
| Gross operating margin | 9900 | €60,623 | €74,498 | +€13,875 | +22.9% |
| Operating profit (loss) | 9901 | €4,640 | €19,613 | +€14,973 | +323% |
| Financial income | 75/76B | €16 | €383 | +€367 | +2,347% |
| Recurring financial income | 75 | €16 | €383 | +€367 | +2,347% |
| Financial charges | 65/66B | €4,030 | €19,173 | +€15,143 | +376% |
| Recurring financial charges | 65 | €3,640 | €2,295 | -€1,346 | -37.0% |
| Non-recurring financial charges | 66B | €389 | €16,878 | +€16,489 | +4,236% |
| Profit (loss) for the period before taxes | 9903 | €626 | €823 | +€197 | +31.4% |
| Income taxes | 67/77 | €418 | €520 | +€102 | +24.3% |
| Profit (loss) for the period | 9904 | €208 | €303 | +€95 | +45.8% |
| Profit (loss) for the period to be appropriated | 9905 | €208 | €303 | +€95 | +45.8% |
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.