FEEMFISK: 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.
FEEMFISK
Largest movements
- Tangible fixed assets +€553,258
up €553,258 (+3,057%), from €18,100 to €571,358
of which Plant, machinery and equipment: +€547,933
- Cash -€99,350
down €99,350 (-79.8%), from €124,427 to €25,077
mainly Investment in fixed assets (net) (-€576,320) and Receivables within one year (-€27,270)
- Receivables within one year +€27,270
up €27,270 (+48.5%), from €56,225 to €83,495
of which Other amounts receivable: +€20,399
- Debts after one year +€434,582
up €434,582 (+1,063%), from €40,900 to €475,482
- Reserves +€37,318
up €37,318 (+23.4%), from €159,422 to €196,740
- Current portion of long-term debt +€15,417
new in 2025: €15,417
- Depreciation +€13,725
up €13,725 (+89.5%), from €15,337 to €29,062
- Turnover +€10,844
up €10,844 (+4.9%), from €221,706 to €232,550
- Purchases and services +€8,171
up €8,171 (+5.9%), from €138,661 to €146,832
- Taxes -€3,565
down €3,565 (-19.2%), from €18,606 to €15,041
- Gross operating margin +€2,672
up €2,672 (+3.2%), from €83,045 to €85,717
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 | €242,252 | €718,176 | +€475,924 | +196% |
| Fixed assets | 21/28 | €61,600 | €608,858 | +€547,258 | +888% |
| Intangible fixed assets | 21 | €43,500 | €37,500 | -€6,000 | -13.8% |
| Tangible fixed assets | 22/27 | €18,100 | €571,358 | +€553,258 | +3,057% |
| Plant, machinery and equipment | 23 | - | €547,933 | +€547,933 | |
| Furniture and vehicles | 24 | €18,100 | €23,425 | +€5,325 | +29.4% |
| Current assets | 29/58 | €180,652 | €109,318 | -€71,334 | -39.5% |
| Amounts receivable within one year | 40/41 | €56,225 | €83,495 | +€27,270 | +48.5% |
| Trade receivables | 40 | €55,473 | €62,344 | +€6,871 | +12.4% |
| Other amounts receivable | 41 | €752 | €21,151 | +€20,399 | +2,713% |
| Cash at bank and in hand | 54/58 | €124,427 | €25,077 | -€99,350 | -79.8% |
| Deferred charges and accrued income | 490/1 | - | €746 | +€746 | |
| Total equity and liabilities | 10/49 | €242,252 | €718,176 | +€475,924 | +196% |
| Equity | 10/15 | €178,030 | €215,343 | +€37,313 | +21.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €159,422 | €196,740 | +€37,318 | +23.4% |
| Distributable reserves | 133 | €159,422 | €196,740 | +€37,318 | +23.4% |
| Profit (loss) carried forward | 14 | €8 | €3 | -€5 | -62.5% |
| Amounts payable | 17/49 | €64,222 | €502,833 | +€438,611 | +683% |
| Amounts payable after more than one year | 17 | €40,900 | €475,482 | +€434,582 | +1,063% |
| Financial debts | 170/4 | €40,900 | €475,482 | +€434,582 | +1,063% |
| Amounts payable within one year | 42/48 | €23,263 | €27,351 | +€4,088 | +17.6% |
| Current portion of amounts payable after more than one year | 42 | - | €15,417 | +€15,417 | |
| Trade debts | 44 | €5,206 | €2,421 | -€2,785 | -53.5% |
| Suppliers | 440/4 | €5,206 | €2,421 | -€2,785 | -53.5% |
| Taxes, remuneration and social security | 45 | €12,055 | €7,847 | -€4,208 | -34.9% |
| Taxes | 450/3 | €12,055 | €7,847 | -€4,208 | -34.9% |
| Other amounts payable | 47/48 | €6,002 | €1,666 | -€4,336 | -72.2% |
| Accrued charges and deferred income | 492/3 | €59 | - | -€59 | |
| Turnover | 70 | €221,706 | €232,550 | +€10,844 | +4.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €138,661 | €146,832 | +€8,171 | +5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,337 | €29,062 | +€13,725 | +89.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €857 | €973 | +€116 | +13.5% |
| Gross operating margin | 9900 | €83,045 | €85,717 | +€2,672 | +3.2% |
| Operating profit (loss) | 9901 | €66,851 | €55,682 | -€11,169 | -16.7% |
| Financial income | 75/76B | €193 | €542 | +€349 | +181% |
| Recurring financial income | 75 | €193 | €542 | +€349 | +181% |
| Financial charges | 65/66B | €542 | €2,205 | +€1,663 | +307% |
| Recurring financial charges | 65 | €542 | €2,205 | +€1,663 | +307% |
| Profit (loss) for the period before taxes | 9903 | €66,502 | €54,019 | -€12,483 | -18.8% |
| Income taxes | 67/77 | €18,606 | €15,041 | -€3,565 | -19.2% |
| Profit (loss) for the period | 9904 | €47,896 | €38,978 | -€8,918 | -18.6% |
| Profit (loss) for the period to be appropriated | 9905 | €47,896 | €38,978 | -€8,918 | -18.6% |
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 14 October 2026 via checked.be.