FDM IMMO: what changed
Two fiscal 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.
FDM IMMO
Largest movements
- Cash +€234,587
up €234,587 (+372.8%), from €62,923 to €297,510
mainly Receivables within one year (+€227,896) and Trade debts (+€166,876)
- Receivables within one year -€227,896
down €227,896 (-54.7%), from €416,254 to €188,358
of which Other amounts receivable: -€407,278
- Tangible fixed assets +€196,919
up €196,919 (+20.0%), from €985,166 to €1.2m
of which Land and buildings: +€597,704
- Trade debts +€166,876
up €166,876 (+1513.4%), from €11,026 to €177,902
- Debts after one year +€53,089
up €53,089 (+9.2%), from €579,495 to €632,584
- Depreciation +€31,014
up €31,014 (+88.9%), from €34,887 to €65,901
- Gross operating margin +€13,203
up €13,203 (+26.0%), from €50,792 to €63,996
- Financial charges +€4,251
up €4,251 (+20.3%), from €20,944 to €25,195
- Financial income +€1,106
up €1,106 (+1042.9%), from €106 to €1,212
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 | €1,464,683 | €1,668,744 | +€204,062 | +13.9% |
| Fixed assets | 21/28 | €985,166 | €1,182,085 | +€196,919 | +20.0% |
| Tangible fixed assets | 22/27 | €985,166 | €1,182,085 | +€196,919 | +20.0% |
| Land and buildings | 22 | €581,659 | €1,179,363 | +€597,704 | +102.8% |
| Assets under construction and advance payments | 27 | €403,507 | €2,723 | -€400,785 | -99.3% |
| Current assets | 29/58 | €479,516 | €486,659 | +€7,143 | +1.5% |
| Amounts receivable within one year | 40/41 | €416,254 | €188,358 | -€227,896 | -54.7% |
| Trade receivables | 40 | €8,165 | €187,547 | +€179,382 | +2196.9% |
| Other amounts receivable | 41 | €408,089 | €811 | -€407,278 | -99.8% |
| Cash at bank and in hand | 54/58 | €62,923 | €297,510 | +€234,587 | +372.8% |
| Deferred charges and accrued income | 490/1 | €340 | €792 | +€452 | +133.0% |
| Total equity and liabilities | 10/49 | €1,464,683 | €1,668,744 | +€204,062 | +13.9% |
| Equity | 10/15 | €683,162 | €660,562 | -€22,600 | -3.3% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Reserves | 13 | €463,313 | €450,407 | -€12,906 | -2.8% |
| Tax-exempt reserves | 132 | €451,113 | €438,207 | -€12,906 | -2.9% |
| Distributable reserves | 133 | €12,200 | €12,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €205,589 | €195,895 | -€9,694 | -4.7% |
| Provisions and deferred taxes | 16 | €150,371 | €146,069 | -€4,302 | -2.9% |
| Deferred taxes | 168 | €150,371 | €146,069 | -€4,302 | -2.9% |
| Amounts payable | 17/49 | €631,150 | €862,113 | +€230,963 | +36.6% |
| Amounts payable after more than one year | 17 | €579,495 | €632,584 | +€53,089 | +9.2% |
| Financial debts | 170/4 | €579,495 | €632,584 | +€53,089 | +9.2% |
| Amounts payable within one year | 42/48 | €51,591 | €229,529 | +€177,938 | +344.9% |
| Current portion of amounts payable after more than one year | 42 | €34,581 | €46,193 | +€11,612 | +33.6% |
| Trade debts | 44 | €11,026 | €177,902 | +€166,876 | +1513.4% |
| Suppliers | 440/4 | €11,026 | €177,902 | +€166,876 | +1513.4% |
| Taxes, remuneration and social security | 45 | €5,984 | €292 | -€5,692 | -95.1% |
| Taxes | 450/3 | €5,984 | €292 | -€5,692 | -95.1% |
| Other amounts payable | 47/48 | €0 | €5,142 | +€5,142 | +25708200.0% |
| Accrued charges and deferred income | 492/3 | €64 | €0 | -€64 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,887 | €65,901 | +€31,014 | +88.9% |
| Other operating charges | 640/8 | €349 | €669 | +€320 | +91.6% |
| Gross operating margin | 9900 | €50,792 | €63,996 | +€13,203 | +26.0% |
| Operating profit (loss) | 9901 | €15,556 | -€2,574 | -€18,131 | |
| Financial income | 75/76B | €106 | €1,212 | +€1,106 | +1042.9% |
| Recurring financial income | 75 | €106 | €1,212 | +€1,106 | +1042.9% |
| Financial charges | 65/66B | €20,944 | €25,195 | +€4,251 | +20.3% |
| Recurring financial charges | 65 | €20,944 | €25,195 | +€4,251 | +20.3% |
| Profit (loss) for the period before taxes | 9903 | -€5,282 | -€26,558 | -€21,276 | -402.8% |
| Transfer from deferred taxes | 780 | €2,819 | €4,302 | +€1,483 | +52.6% |
| Income taxes | 67/77 | €17 | €344 | +€327 | +1954.5% |
| Profit (loss) for the period | 9904 | -€2,480 | -€22,600 | -€20,120 | -811.4% |
| Transfer from tax-exempt reserves | 789 | €8,456 | €12,906 | +€4,449 | +52.6% |
| Profit (loss) for the period to be appropriated | 9905 | €5,977 | -€9,694 | -€15,671 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.