FDM Invest: 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.
FDM Invest
Largest movements
- Tangible fixed assets +€544,382
up €544,382 (+53.2%), from €1.0m to €1.6m
of which Other tangible fixed assets: +€570,169
- Receivables within one year +€303,307
up €303,307 (+4,231%), from €7,168 to €310,476
of which Trade receivables: +€299,873
- Cash +€69,852
up €69,852 (+102%), from €68,289 to €138,141
mainly Debts after one year (+€595,151) and Trade debts (+€319,225)
- Debts after one year +€595,151
up €595,151 (+70.7%), from €841,705 to €1.4m
- Trade debts +€319,225
up €319,225 (+816%), from €39,130 to €358,355
- Other debts -€48,674
down €48,674 (-85.1%), from €57,188 to €8,514
- Reserves +€46,179
up €46,179 (+66.2%), from €69,731 to €115,910
- Depreciation +€10,475
up €10,475 (+26.5%), from €39,526 to €50,000
- Financial charges +€6,640
up €6,640 (+32.4%), from €20,516 to €27,156
- Taxes -€3,321
down €3,321 (-50.4%), from €6,594 to €3,273
- Other operating charges -€1,933
down €1,933 (-39.6%), from €4,879 to €2,946
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 | €1,097,964 | €2,034,816 | +€936,852 | +85.3% |
| Fixed assets | 21/28 | €1,022,348 | €1,566,729 | +€544,382 | +53.2% |
| Tangible fixed assets | 22/27 | €1,022,348 | €1,566,729 | +€544,382 | +53.2% |
| Land and buildings | 22 | €755,933 | €735,313 | -€20,620 | -2.7% |
| Plant, machinery and equipment | 23 | €49,496 | €28,914 | -€20,582 | -41.6% |
| Furniture and vehicles | 24 | - | €15,415 | +€15,415 | |
| Other tangible fixed assets | 26 | €216,918 | €787,087 | +€570,169 | +263% |
| Current assets | 29/58 | €75,617 | €468,086 | +€392,470 | +519% |
| Stocks and contracts in progress | 3 | - | €3,500 | +€3,500 | |
| Stocks | 30/36 | - | €3,500 | +€3,500 | |
| Amounts receivable within one year | 40/41 | €7,168 | €310,476 | +€303,307 | +4,231% |
| Trade receivables | 40 | €5,382 | €305,255 | +€299,873 | +5,572% |
| Other amounts receivable | 41 | €1,786 | €5,220 | +€3,434 | +192% |
| Current investments | 50/53 | - | €480 | +€480 | |
| Cash at bank and in hand | 54/58 | €68,289 | €138,141 | +€69,852 | +102% |
| Deferred charges and accrued income | 490/1 | €159 | €15,489 | +€15,330 | +9,633% |
| Total equity and liabilities | 10/49 | €1,097,964 | €2,034,816 | +€936,852 | +85.3% |
| Equity | 10/15 | €71,941 | €123,119 | +€51,179 | +71.1% |
| Contributions | 10/11 | €2,209 | €7,209 | +€5,000 | +226% |
| Reserves | 13 | €69,731 | €115,910 | +€46,179 | +66.2% |
| Distributable reserves | 133 | €69,731 | €115,910 | +€46,179 | +66.2% |
| Amounts payable | 17/49 | €1,026,023 | €1,911,696 | +€885,673 | +86.3% |
| Amounts payable after more than one year | 17 | €841,705 | €1,436,857 | +€595,151 | +70.7% |
| Financial debts | 170/4 | €841,705 | €1,436,857 | +€595,151 | +70.7% |
| Amounts payable within one year | 42/48 | €184,318 | €473,557 | +€289,240 | +157% |
| Current portion of amounts payable after more than one year | 42 | €81,218 | €89,168 | +€7,950 | +9.8% |
| Trade debts | 44 | €39,130 | €358,355 | +€319,225 | +816% |
| Suppliers | 440/4 | €39,130 | €358,355 | +€319,225 | +816% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €6,782 | €17,520 | +€10,738 | +158% |
| Taxes | 450/3 | €6,782 | €14,483 | +€7,701 | +114% |
| Remuneration and social security | 454/9 | - | €3,037 | +€3,037 | |
| Other amounts payable | 47/48 | €57,188 | €8,514 | -€48,674 | -85.1% |
| Accrued charges and deferred income | 492/3 | - | €1,282 | +€1,282 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,526 | €50,000 | +€10,475 | +26.5% |
| Other operating charges | 640/8 | €4,879 | €2,946 | -€1,933 | -39.6% |
| Gross operating margin | 9900 | €84,311 | €84,106 | -€205 | -0.2% |
| Operating profit (loss) | 9901 | €39,907 | €31,160 | -€8,746 | -21.9% |
| Financial income | 75/76B | €0 | €1 | +€1 | |
| Recurring financial income | 75 | €0 | €1 | +€1 | |
| Financial charges | 65/66B | €20,516 | €27,156 | +€6,640 | +32.4% |
| Recurring financial charges | 65 | €20,516 | €27,156 | +€6,640 | +32.4% |
| Profit (loss) for the period before taxes | 9903 | €19,391 | €4,006 | -€15,385 | -79.3% |
| Income taxes | 67/77 | €6,594 | €3,273 | -€3,321 | -50.4% |
| Profit (loss) for the period | 9904 | €12,797 | €733 | -€12,064 | -94.3% |
| Profit (loss) for the period to be appropriated | 9905 | €12,797 | €733 | -€12,064 | -94.3% |
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 23 October 2026 via checked.be.