FCMA: 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.
FCMA
Largest movements
- Tangible fixed assets +€660,274
up €660,274 (+189.4%), from €348,563 to €1.0m
- Cash +€12,435
up €12,435 (+154.9%), from €8,026 to €20,461
mainly Debts after one year (+€534,260) and Other debts (+€189,600)
- Debts after one year +€534,260
up €534,260 (+213.2%), from €250,554 to €784,813
of which Financial debts: +€534,260
- Other debts +€189,600
up €189,600 (+151.4%), from €125,200 to €314,800
- Profit (loss) carried forward -€50,711
down €50,711 (-121.9%), from -€41,617 to -€92,328
- Gross operating margin -€11,916
down €11,916 (-314.9%), from -€3,784 to -€15,700
- Depreciation +€9,972
up €9,972 (+86.6%), from €11,511 to €21,483
- Financial charges +€7,839
up €7,839 (+138.4%), from €5,664 to €13,503
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 | €356,589 | €1,029,298 | +€672,709 | +188.7% |
| Fixed assets | 21/28 | €348,563 | €1,008,837 | +€660,274 | +189.4% |
| Tangible fixed assets | 22/27 | €348,563 | €1,008,837 | +€660,274 | +189.4% |
| Land and buildings | 22 | €348,563 | €1,008,837 | +€660,274 | +189.4% |
| Current assets | 29/58 | €8,026 | €20,461 | +€12,435 | +154.9% |
| Cash at bank and in hand | 54/58 | €8,026 | €20,461 | +€12,435 | +154.9% |
| Total equity and liabilities | 10/49 | €356,589 | €1,029,298 | +€672,709 | +188.7% |
| Equity | 10/15 | -€31,617 | -€82,328 | -€50,711 | -160.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€41,617 | -€92,328 | -€50,711 | -121.9% |
| Amounts payable | 17/49 | €388,207 | €1,111,626 | +€723,420 | +186.3% |
| Amounts payable after more than one year | 17 | €250,554 | €784,813 | +€534,260 | +213.2% |
| Financial debts | 170/4 | €249,454 | €783,713 | +€534,260 | +214.2% |
| Other amounts payable | 178/9 | €1,100 | €1,100 | = | 0.0% |
| Amounts payable within one year | 42/48 | €137,653 | €326,813 | +€189,160 | +137.4% |
| Current portion of amounts payable after more than one year | 42 | €12,453 | €12,013 | -€440 | -3.5% |
| Other amounts payable | 47/48 | €125,200 | €314,800 | +€189,600 | +151.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,511 | €21,483 | +€9,972 | +86.6% |
| Other operating charges | 640/8 | €25 | €26 | +€1 | +2.3% |
| Gross operating margin | 9900 | -€3,784 | -€15,700 | -€11,916 | -314.9% |
| Operating profit (loss) | 9901 | -€15,320 | -€37,208 | -€21,889 | -142.9% |
| Financial charges | 65/66B | €5,664 | €13,503 | +€7,839 | +138.4% |
| Recurring financial charges | 65 | €5,664 | €13,503 | +€7,839 | +138.4% |
| Profit (loss) for the period before taxes | 9903 | -€20,984 | -€50,711 | -€29,727 | -141.7% |
| Profit (loss) for the period | 9904 | -€20,984 | -€50,711 | -€29,727 | -141.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,984 | -€50,711 | -€29,727 | -141.7% |
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 11 October 2026 via checked.be.