F.S.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.S.M.
Largest movements
- Stocks and contracts -€72,159
no longer reported in 2025 (was €72,159)
- Cash +€12,482
up €12,482 (+813.8%), from €1,534 to €14,015
mainly Stocks and contracts (+€72,159) and Net result for the year (+€26,045)
- Receivables within one year +€1,065
up €1,065 (+44.6%), from €2,388 to €3,453
of which Other amounts receivable: +€1,134
- Debts after one year -€85,000
down €85,000 (-70.8%), from €120,000 to €35,000
- Profit (loss) carried forward +€26,045
up €26,045 (+36.1%), from -€72,075 to -€46,029
- Other debts -€4,023
down €4,023 (-91.9%), from €4,379 to €355
- Trade debts +€3,821
up €3,821 (+73.8%), from €5,179 to €9,000
- Turnover +€105,265
up €105,265 (+782.4%), from €13,454 to €118,719
- Purchases and services +€84,794
up €84,794 (+928.1%), from €9,136 to €93,930
- Gross operating margin +€20,521
up €20,521 (+342.4%), from €5,993 to €26,514
- Financial charges -€1,285
down €1,285 (-77.0%), from €1,668 to €384
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 | €76,706 | €17,718 | -€58,987 | -76.9% |
| Fixed assets | 21/28 | €624 | €250 | -€375 | -60.0% |
| Tangible fixed assets | 22/27 | €624 | €250 | -€375 | -60.0% |
| Furniture and vehicles | 24 | €624 | €250 | -€375 | -60.0% |
| Current assets | 29/58 | €76,081 | €17,468 | -€58,613 | -77.0% |
| Stocks and contracts in progress | 3 | €72,159 | - | -€72,159 | |
| Stocks | 30/36 | €72,159 | - | -€72,159 | |
| Amounts receivable within one year | 40/41 | €2,388 | €3,453 | +€1,065 | +44.6% |
| Trade receivables | 40 | €70 | - | -€70 | |
| Other amounts receivable | 41 | €2,319 | €3,453 | +€1,134 | +48.9% |
| Cash at bank and in hand | 54/58 | €1,534 | €14,015 | +€12,482 | +813.8% |
| Total equity and liabilities | 10/49 | €76,706 | €17,718 | -€58,987 | -76.9% |
| Equity | 10/15 | -€53,111 | -€27,066 | +€26,045 | +49.0% |
| Contributions | 10/11 | €18,964 | €18,964 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€72,075 | -€46,029 | +€26,045 | +36.1% |
| Amounts payable | 17/49 | €129,817 | €44,784 | -€85,033 | -65.5% |
| Amounts payable after more than one year | 17 | €120,000 | €35,000 | -€85,000 | -70.8% |
| Financial debts | 170/4 | €120,000 | €35,000 | -€85,000 | -70.8% |
| Amounts payable within one year | 42/48 | €9,817 | €9,784 | -€33 | -0.3% |
| Trade debts | 44 | €5,179 | €9,000 | +€3,821 | +73.8% |
| Suppliers | 440/4 | €5,179 | €9,000 | +€3,821 | +73.8% |
| Taxes, remuneration and social security | 45 | €258 | €428 | +€170 | +65.8% |
| Taxes | 450/3 | €258 | €428 | +€170 | +65.8% |
| Other amounts payable | 47/48 | €4,379 | €355 | -€4,023 | -91.9% |
| Turnover | 70 | €13,454 | €118,719 | +€105,265 | +782.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €9,136 | €93,930 | +€84,794 | +928.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €375 | €375 | = | 0.0% |
| Other operating charges | 640/8 | €155 | - | -€155 | |
| Non-recurring operating charges | 66A | - | €129 | +€129 | |
| Gross operating margin | 9900 | €5,993 | €26,514 | +€20,521 | +342.4% |
| Operating profit (loss) | 9901 | €5,463 | €26,010 | +€20,547 | +376.1% |
| Financial income | 75/76B | €27 | €419 | +€392 | +1453.7% |
| Recurring financial income | 75 | €27 | €419 | +€392 | +1453.7% |
| Financial charges | 65/66B | €1,668 | €384 | -€1,285 | -77.0% |
| Recurring financial charges | 65 | €1,668 | €384 | -€1,285 | -77.0% |
| Profit (loss) for the period before taxes | 9903 | €3,822 | €26,045 | +€22,224 | +581.5% |
| Income taxes | 67/77 | €106 | - | -€106 | |
| Profit (loss) for the period | 9904 | €3,715 | €26,045 | +€22,330 | +601.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,715 | €26,045 | +€22,330 | +601.0% |
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 10 October 2026 via checked.be.