F.M.R.: 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.R.
Largest movements
- Receivables within one year -€52,587
down €52,587 (-99.8%), from €52,687 to €100
of which Other amounts receivable: -€35,716
- Financial fixed assets -€23,922
down €23,922 (-88.8%), from €26,936 to €3,014
- Tangible fixed assets -€21,760
down €21,760 (-7.9%), from €275,082 to €253,322
- Other debts -€78,697
down €78,697 (-35.4%), from €222,322 to €143,624
- Debts after one year -€25,229
down €25,229 (-18.0%), from €140,282 to €115,053
- Profit (loss) carried forward +€13,832
up €13,832 (+37.7%), from -€36,680 to -€22,848
- Tax, wage and social debts -€11,323
down €11,323 (-83.5%), from €13,564 to €2,241
- Other operating charges +€35,543
up €35,543 (+1,185%), from €3,000 to €38,543
- Gross operating margin +€31,334
up €31,334 (+65.7%), from €47,695 to €79,028
- Financial charges -€930
down €930 (-16.0%), from €5,824 to €4,894
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 | €389,066 | €289,543 | -€99,524 | -25.6% |
| Fixed assets | 21/28 | €302,018 | €256,336 | -€45,682 | -15.1% |
| Tangible fixed assets | 22/27 | €275,082 | €253,322 | -€21,760 | -7.9% |
| Land and buildings | 22 | €179,863 | €173,373 | -€6,490 | -3.6% |
| Furniture and vehicles | 24 | €40,862 | €30,647 | -€10,216 | -25.0% |
| Other tangible fixed assets | 26 | €54,356 | €49,302 | -€5,054 | -9.3% |
| Financial fixed assets | 28 | €26,936 | €3,014 | -€23,922 | -88.8% |
| Current assets | 29/58 | €87,049 | €33,207 | -€53,842 | -61.9% |
| Stocks and contracts in progress | 3 | €26,684 | €26,684 | = | 0.0% |
| Stocks | 30/36 | €26,684 | €26,684 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €52,687 | €100 | -€52,587 | -99.8% |
| Trade receivables | 40 | €16,871 | - | -€16,871 | |
| Other amounts receivable | 41 | €35,816 | €100 | -€35,716 | -99.7% |
| Current investments | 50/53 | €10 | - | -€10 | |
| Cash at bank and in hand | 54/58 | €5,592 | €2,272 | -€3,319 | -59.4% |
| Deferred charges and accrued income | 490/1 | €2,077 | €4,151 | +€2,074 | +99.9% |
| Total equity and liabilities | 10/49 | €389,066 | €289,543 | -€99,524 | -25.6% |
| Equity | 10/15 | -€15,031 | -€1,199 | +€13,832 | +92.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €3,099 | €3,099 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,099 | €3,099 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€36,680 | -€22,848 | +€13,832 | +37.7% |
| Amounts payable | 17/49 | €404,097 | €290,742 | -€113,355 | -28.1% |
| Amounts payable after more than one year | 17 | €140,282 | €115,053 | -€25,229 | -18.0% |
| Financial debts | 170/4 | €140,282 | €115,053 | -€25,229 | -18.0% |
| Amounts payable within one year | 42/48 | €263,816 | €175,539 | -€88,277 | -33.5% |
| Current portion of amounts payable after more than one year | 42 | €24,485 | €25,826 | +€1,341 | +5.5% |
| Trade debts | 44 | €3,445 | €3,847 | +€402 | +11.7% |
| Suppliers | 440/4 | €3,445 | €3,847 | +€402 | +11.7% |
| Taxes, remuneration and social security | 45 | €13,564 | €2,241 | -€11,323 | -83.5% |
| Taxes | 450/3 | €13,564 | €2,241 | -€11,323 | -83.5% |
| Other amounts payable | 47/48 | €222,322 | €143,624 | -€78,697 | -35.4% |
| Accrued charges and deferred income | 492/3 | - | €150 | +€150 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,760 | €21,760 | = | 0.0% |
| Other operating charges | 640/8 | €3,000 | €38,543 | +€35,543 | +1,185% |
| Gross operating margin | 9900 | €47,695 | €79,028 | +€31,334 | +65.7% |
| Operating profit (loss) | 9901 | €22,935 | €18,725 | -€4,210 | -18.4% |
| Financial income | 75/76B | €55 | €0 | -€55 | -99.9% |
| Recurring financial income | 75 | €55 | €0 | -€55 | -99.9% |
| Financial charges | 65/66B | €5,824 | €4,894 | -€930 | -16.0% |
| Recurring financial charges | 65 | €5,824 | €4,894 | -€930 | -16.0% |
| Profit (loss) for the period before taxes | 9903 | €17,166 | €13,832 | -€3,334 | -19.4% |
| Profit (loss) for the period | 9904 | €17,166 | €13,832 | -€3,334 | -19.4% |
| Profit (loss) for the period to be appropriated | 9905 | €17,166 | €13,832 | -€3,334 | -19.4% |
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 27 October 2026 via checked.be.