FCM Back on Track: 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.
FCM Back on Track
Largest movements
- Tangible fixed assets -€14,681
down €14,681 (-7.6%), from €193,035 to €178,354
of which Other tangible fixed assets: -€8,436
- Intangible fixed assets -€11,000
down €11,000 (-15.5%), from €70,838 to €59,838
- Receivables within one year +€9,488
up €9,488 (+50.7%), from €18,711 to €28,198
of which Trade receivables: +€9,488
- Cash -€5,720
down €5,720 (-15.6%), from €36,709 to €30,990
mainly Debts after one year (-€30,541) and Trade debts (-€26,527)
- Debts after one year -€30,541
down €30,541 (-18.7%), from €163,259 to €132,718
- Trade debts -€26,527
down €26,527 (-99.0%), from €26,788 to €261
- Profit (loss) carried forward +€25,559
no longer reported in 2025 (was -€25,559)
- Reserves +€10,569
up €10,569 (+1,385%), from €763 to €11,332
- Other debts -€3,706
down €3,706 (-39.4%), from €9,402 to €5,696
- Gross operating margin +€15,314
up €15,314 (+21.6%), from €70,877 to €86,191
- Taxes +€4,208
up €4,208 (+53.2%), from €7,914 to €12,122
- Depreciation +€1,152
up €1,152 (+3.8%), from €30,067 to €31,220
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 | €319,762 | €298,327 | -€21,435 | -6.7% |
| Fixed assets | 21/28 | €263,873 | €238,192 | -€25,681 | -9.7% |
| Intangible fixed assets | 21 | €70,838 | €59,838 | -€11,000 | -15.5% |
| Tangible fixed assets | 22/27 | €193,035 | €178,354 | -€14,681 | -7.6% |
| Plant, machinery and equipment | 23 | €1,380 | €1,008 | -€372 | -26.9% |
| Furniture and vehicles | 24 | €22,475 | €16,602 | -€5,874 | -26.1% |
| Other tangible fixed assets | 26 | €169,180 | €160,744 | -€8,436 | -5.0% |
| Current assets | 29/58 | €55,888 | €60,135 | +€4,246 | +7.6% |
| Amounts receivable within one year | 40/41 | €18,711 | €28,198 | +€9,488 | +50.7% |
| Trade receivables | 40 | €15,625 | €25,113 | +€9,488 | +60.7% |
| Other amounts receivable | 41 | €3,086 | €3,086 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €36,709 | €30,990 | -€5,720 | -15.6% |
| Deferred charges and accrued income | 490/1 | €468 | €947 | +€479 | +102% |
| Total equity and liabilities | 10/49 | €319,762 | €298,327 | -€21,435 | -6.7% |
| Equity | 10/15 | €86,804 | €122,932 | +€36,128 | +41.6% |
| Contributions | 10/11 | €111,600 | €111,600 | = | 0.0% |
| Reserves | 13 | €763 | €11,332 | +€10,569 | +1,385% |
| Distributable reserves | 133 | €763 | €11,332 | +€10,569 | +1,385% |
| Profit (loss) carried forward | 14 | -€25,559 | - | +€25,559 | |
| Amounts payable | 17/49 | €232,958 | €175,395 | -€57,563 | -24.7% |
| Amounts payable after more than one year | 17 | €163,259 | €132,718 | -€30,541 | -18.7% |
| Financial debts | 170/4 | €163,259 | €132,718 | -€30,541 | -18.7% |
| Amounts payable within one year | 42/48 | €69,633 | €42,010 | -€27,623 | -39.7% |
| Current portion of amounts payable after more than one year | 42 | €30,053 | €30,541 | +€488 | +1.6% |
| Trade debts | 44 | €26,788 | €261 | -€26,527 | -99.0% |
| Suppliers | 440/4 | €26,788 | €261 | -€26,527 | -99.0% |
| Taxes, remuneration and social security | 45 | €3,390 | €5,512 | +€2,122 | +62.6% |
| Taxes | 450/3 | €3,390 | €5,512 | +€2,122 | +62.6% |
| Other amounts payable | 47/48 | €9,402 | €5,696 | -€3,706 | -39.4% |
| Accrued charges and deferred income | 492/3 | €66 | €667 | +€601 | +915% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,067 | €31,220 | +€1,152 | +3.8% |
| Other operating charges | 640/8 | €635 | €544 | -€91 | -14.3% |
| Gross operating margin | 9900 | €70,877 | €86,191 | +€15,314 | +21.6% |
| Operating profit (loss) | 9901 | €40,175 | €54,427 | +€14,252 | +35.5% |
| Financial income | 75/76B | €19 | €5 | -€14 | -73.8% |
| Recurring financial income | 75 | €19 | €5 | -€14 | -73.8% |
| Financial charges | 65/66B | €3,403 | €2,920 | -€483 | -14.2% |
| Recurring financial charges | 65 | €3,403 | €2,920 | -€483 | -14.2% |
| Profit (loss) for the period before taxes | 9903 | €36,792 | €51,513 | +€14,721 | +40.0% |
| Income taxes | 67/77 | €7,914 | €12,122 | +€4,208 | +53.2% |
| Profit (loss) for the period | 9904 | €28,877 | €39,391 | +€10,514 | +36.4% |
| Profit (loss) for the period to be appropriated | 9905 | €28,877 | €39,391 | +€10,514 | +36.4% |
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 19 October 2026 via checked.be.