FAPIM BENELUX: 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.
FAPIM BENELUX
Largest movements
- Stocks and contracts +€169,533
up €169,533 (+13.3%), from €1.3m to €1.4m
- Receivables within one year +€84,651
up €84,651 (+30.2%), from €280,451 to €365,102
of which Trade receivables: +€88,865
- Trade debts +€218,572
up €218,572 (+28.7%), from €761,687 to €980,259
- Tax, wage and social debts +€20,705
up €20,705 (+71.6%), from €28,906 to €49,612
of which Remuneration and social security: +€12,171
- Gross operating margin +€62,749
up €62,749 (+20.2%), from €311,251 to €374,000
- Staff costs +€25,853
up €25,853 (+8.3%), from €311,890 to €337,743
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 | €1,759,128 | €1,996,187 | +€237,058 | +13.5% |
| Fixed assets | 21/28 | €93,045 | €91,147 | -€1,898 | -2.0% |
| Tangible fixed assets | 22/27 | €93,045 | €91,147 | -€1,898 | -2.0% |
| Land and buildings | 22 | €54,741 | €49,460 | -€5,282 | -9.6% |
| Plant, machinery and equipment | 23 | €37,963 | €39,772 | +€1,809 | +4.8% |
| Furniture and vehicles | 24 | €341 | €1,915 | +€1,574 | +462% |
| Current assets | 29/58 | €1,666,083 | €1,905,040 | +€238,957 | +14.3% |
| Stocks and contracts in progress | 3 | €1,277,576 | €1,447,110 | +€169,533 | +13.3% |
| Stocks | 30/36 | €1,277,576 | €1,447,110 | +€169,533 | +13.3% |
| Amounts receivable within one year | 40/41 | €280,451 | €365,102 | +€84,651 | +30.2% |
| Trade receivables | 40 | €275,350 | €364,214 | +€88,865 | +32.3% |
| Other amounts receivable | 41 | €5,101 | €887 | -€4,213 | -82.6% |
| Cash at bank and in hand | 54/58 | €91,564 | €75,445 | -€16,118 | -17.6% |
| Deferred charges and accrued income | 490/1 | €16,492 | €17,383 | +€891 | +5.4% |
| Total equity and liabilities | 10/49 | €1,759,128 | €1,996,187 | +€237,058 | +13.5% |
| Equity | 10/15 | €968,535 | €966,316 | -€2,219 | -0.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €948,075 | €945,856 | -€2,219 | -0.2% |
| Amounts payable | 17/49 | €790,594 | €1,029,871 | +€239,277 | +30.3% |
| Amounts payable within one year | 42/48 | €790,594 | €1,029,871 | +€239,277 | +30.3% |
| Trade debts | 44 | €761,687 | €980,259 | +€218,572 | +28.7% |
| Suppliers | 440/4 | €761,687 | €980,259 | +€218,572 | +28.7% |
| Taxes, remuneration and social security | 45 | €28,906 | €49,612 | +€20,705 | +71.6% |
| Taxes | 450/3 | - | €8,534 | +€8,534 | |
| Remuneration and social security | 454/9 | €28,906 | €41,078 | +€12,171 | +42.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €311,890 | €337,743 | +€25,853 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,766 | €23,675 | -€1,091 | -4.4% |
| Other operating charges | 640/8 | €11,943 | €12,029 | +€86 | +0.7% |
| Non-recurring operating charges | 66A | - | €1,951 | +€1,951 | |
| Gross operating margin | 9900 | €311,251 | €374,000 | +€62,749 | +20.2% |
| Operating profit (loss) | 9901 | -€37,349 | -€1,399 | +€35,950 | +96.3% |
| Financial income | 75/76B | €500 | €12 | -€488 | -97.7% |
| Recurring financial income | 75 | €500 | €12 | -€488 | -97.7% |
| Financial charges | 65/66B | €812 | €832 | +€20 | +2.4% |
| Recurring financial charges | 65 | €812 | €832 | +€20 | +2.4% |
| Profit (loss) for the period before taxes | 9903 | -€37,661 | -€2,219 | +€35,442 | +94.1% |
| Profit (loss) for the period | 9904 | -€37,661 | -€2,219 | +€35,442 | +94.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€37,661 | -€2,219 | +€35,442 | +94.1% |
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 18 October 2026 via checked.be.