FEM: 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.
FEM
Largest movements
- Tangible fixed assets +€29,111
new in 2025: €29,111
of which Furniture and vehicles: +€20,204
- Receivables within one year +€1,341
up €1,341 (+19.2%), from €6,970 to €8,311
of which Other amounts receivable: +€2,829
- Cash +€1,321
up €1,321 (+6.9%), from €19,036 to €20,357
mainly Trade debts (+€26,580) and Net result for the year (+€8,378)
- Trade debts +€26,580
up €26,580 (+2,462%), from €1,080 to €27,659
- Reserves +€8,378
up €8,378 (+63.2%), from €13,247 to €21,626
- Tax, wage and social debts -€4,456
down €4,456 (-62.6%), from €7,122 to €2,666
of which Taxes: -€2,756
- Current portion of long-term debt +€3,256
new in 2025: €3,256
- Other debts -€2,621
no longer reported in 2025 (was €2,621)
- Gross operating margin +€726
up €726 (+6.2%), from €11,797 to €12,523
- Financial charges -€304
down €304 (-14.2%), from €2,142 to €1,838
- Financial income +€232
new in 2025: €232
- Other operating charges +€136
up €136 (+38.7%), from €353 to €489
- Depreciation +€135
new in 2025: €135
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 | €27,813 | €59,255 | +€31,441 | +113% |
| Fixed assets | 21/28 | - | €29,111 | +€29,111 | |
| Tangible fixed assets | 22/27 | - | €29,111 | +€29,111 | |
| Furniture and vehicles | 24 | - | €20,204 | +€20,204 | |
| Other tangible fixed assets | 26 | - | €8,908 | +€8,908 | |
| Current assets | 29/58 | €27,813 | €30,143 | +€2,330 | +8.4% |
| Amounts receivable within one year | 40/41 | €6,970 | €8,311 | +€1,341 | +19.2% |
| Trade receivables | 40 | €6,970 | €5,482 | -€1,488 | -21.3% |
| Other amounts receivable | 41 | - | €2,829 | +€2,829 | |
| Cash at bank and in hand | 54/58 | €19,036 | €20,357 | +€1,321 | +6.9% |
| Deferred charges and accrued income | 490/1 | €1,807 | €1,475 | -€332 | -18.4% |
| Total equity and liabilities | 10/49 | €27,813 | €59,255 | +€31,441 | +113% |
| Equity | 10/15 | €16,247 | €24,626 | +€8,378 | +51.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €13,247 | €21,626 | +€8,378 | +63.2% |
| Distributable reserves | 133 | €13,247 | €21,626 | +€8,378 | +63.2% |
| Amounts payable | 17/49 | €11,566 | €34,629 | +€23,063 | +199% |
| Amounts payable after more than one year | 17 | - | €227 | +€227 | |
| Financial debts | 170/4 | - | €227 | +€227 | |
| Amounts payable within one year | 42/48 | €10,822 | €33,581 | +€22,759 | +210% |
| Current portion of amounts payable after more than one year | 42 | - | €3,256 | +€3,256 | |
| Trade debts | 44 | €1,080 | €27,659 | +€26,580 | +2,462% |
| Suppliers | 440/4 | €1,080 | €27,659 | +€26,580 | +2,462% |
| Taxes, remuneration and social security | 45 | €7,122 | €2,666 | -€4,456 | -62.6% |
| Taxes | 450/3 | €5,422 | €2,666 | -€2,756 | -50.8% |
| Remuneration and social security | 454/9 | €1,700 | - | -€1,700 | |
| Other amounts payable | 47/48 | €2,621 | - | -€2,621 | |
| Accrued charges and deferred income | 492/3 | €744 | €820 | +€77 | +10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €135 | +€135 | |
| Other operating charges | 640/8 | €353 | €489 | +€136 | +38.7% |
| Gross operating margin | 9900 | €11,797 | €12,523 | +€726 | +6.2% |
| Operating profit (loss) | 9901 | €11,444 | €11,899 | +€455 | +4.0% |
| Financial income | 75/76B | - | €232 | +€232 | |
| Recurring financial income | 75 | - | €232 | +€232 | |
| Financial charges | 65/66B | €2,142 | €1,838 | -€304 | -14.2% |
| Recurring financial charges | 65 | €2,142 | €1,838 | -€304 | -14.2% |
| Profit (loss) for the period before taxes | 9903 | €9,302 | €10,293 | +€991 | +10.7% |
| Income taxes | 67/77 | €1,988 | €1,915 | -€74 | -3.7% |
| Profit (loss) for the period | 9904 | €7,314 | €8,378 | +€1,065 | +14.6% |
| Profit (loss) for the period to be appropriated | 9905 | €7,314 | €8,378 | +€1,065 | +14.6% |
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 13 October 2026 via checked.be.