F.M. PROJECTS: 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.
F.M. PROJECTS
Largest movements
- Current investments -€240,981
down €240,981 (-69.0%), from €349,476 to €108,495
- Tangible fixed assets -€85,764
down €85,764 (-2.6%), from €3.3m to €3.2m
of which Land and buildings: -€75,115
- Provisions -€160,653
down €160,653 (-100.0%), from €160,653 to €0
- Reserves -€82,009
down €82,009 (-4.0%), from €2.0m to €2.0m
of which Tax-exempt reserves: -€481,959
- Other debts -€70,523
down €70,523 (-17.2%), from €410,895 to €340,372
- Financial income -€338,619
down €338,619 (-89.3%), from €379,153 to €40,534
- Taxes -€104,439
down €104,439 (-36.0%), from €289,998 to €185,559
- Depreciation -€56,807
down €56,807 (-38.0%), from €149,602 to €92,796
- Gross operating margin -€16,789
down €16,789 (-48.7%), from €34,492 to €17,703
- Other operating charges +€10,187
up €10,187 (+86.3%), from €11,804 to €21,991
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,279,293 | €5,915,634 | -€363,658 | -5.8% |
| Fixed assets | 21/28 | €5,826,780 | €5,741,016 | -€85,764 | -1.5% |
| Tangible fixed assets | 22/27 | €3,292,014 | €3,206,250 | -€85,764 | -2.6% |
| Land and buildings | 22 | €3,188,066 | €3,112,951 | -€75,115 | -2.4% |
| Plant, machinery and equipment | 23 | €33,385 | €22,311 | -€11,074 | -33.2% |
| Furniture and vehicles | 24 | €1,148 | €1,574 | +€426 | +37.1% |
| Other tangible fixed assets | 26 | €69,415 | €69,415 | = | 0.0% |
| Financial fixed assets | 28 | €2,534,766 | €2,534,766 | = | 0.0% |
| Current assets | 29/58 | €452,513 | €174,618 | -€277,895 | -61.4% |
| Amounts receivable within one year | 40/41 | €99 | €0 | -€99 | -100.0% |
| Trade receivables | 40 | €99 | €0 | -€99 | -100.0% |
| Current investments | 50/53 | €349,476 | €108,495 | -€240,981 | -69.0% |
| Cash at bank and in hand | 54/58 | €97,053 | €60,371 | -€36,682 | -37.8% |
| Deferred charges and accrued income | 490/1 | €5,884 | €5,751 | -€133 | -2.3% |
| Total equity and liabilities | 10/49 | €6,279,293 | €5,915,634 | -€363,658 | -5.8% |
| Equity | 10/15 | €5,462,075 | €5,380,066 | -€82,009 | -1.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €2,038,026 | €1,956,017 | -€82,009 | -4.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €481,959 | €0 | -€481,959 | -100.0% |
| Distributable reserves | 133 | €1,549,867 | €1,949,817 | +€399,951 | +25.8% |
| Profit (loss) carried forward | 14 | €3,362,049 | €3,362,049 | = | 0.0% |
| Provisions and deferred taxes | 16 | €160,653 | €0 | -€160,653 | -100.0% |
| Deferred taxes | 168 | €160,653 | €0 | -€160,653 | -100.0% |
| Amounts payable | 17/49 | €656,564 | €535,568 | -€120,996 | -18.4% |
| Amounts payable after more than one year | 17 | €896 | €896 | = | 0.0% |
| Other amounts payable | 178/9 | €896 | €896 | = | 0.0% |
| Amounts payable within one year | 42/48 | €654,962 | €534,672 | -€120,290 | -18.4% |
| Trade debts | 44 | €7,187 | €9,347 | +€2,160 | +30.1% |
| Suppliers | 440/4 | €7,187 | €9,347 | +€2,160 | +30.1% |
| Taxes, remuneration and social security | 45 | €236,879 | €184,952 | -€51,928 | -21.9% |
| Taxes | 450/3 | €236,879 | €184,952 | -€51,928 | -21.9% |
| Other amounts payable | 47/48 | €410,895 | €340,372 | -€70,523 | -17.2% |
| Accrued charges and deferred income | 492/3 | €706 | €0 | -€706 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €149,602 | €92,796 | -€56,807 | -38.0% |
| Other operating charges | 640/8 | €11,804 | €21,991 | +€10,187 | +86.3% |
| Gross operating margin | 9900 | €34,492 | €17,703 | -€16,789 | -48.7% |
| Operating profit (loss) | 9901 | -€126,915 | -€97,084 | +€29,831 | +23.5% |
| Financial income | 75/76B | €379,153 | €40,534 | -€338,619 | -89.3% |
| Recurring financial income | 75 | €379,153 | €40,534 | -€338,619 | -89.3% |
| Financial charges | 65/66B | €10,503 | €553 | -€9,950 | -94.7% |
| Recurring financial charges | 65 | €10,503 | €553 | -€9,950 | -94.7% |
| Profit (loss) for the period before taxes | 9903 | €241,734 | -€57,104 | -€298,838 | |
| Transfer from deferred taxes | 780 | €333,395 | €160,653 | -€172,742 | -51.8% |
| Income taxes | 67/77 | €289,998 | €185,559 | -€104,439 | -36.0% |
| Profit (loss) for the period | 9904 | €285,131 | -€82,009 | -€367,140 | |
| Transfer from tax-exempt reserves | 789 | €1,000,185 | €481,959 | -€518,226 | -51.8% |
| Profit (loss) for the period to be appropriated | 9905 | €1,285,317 | €399,951 | -€885,366 | -68.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.