FEM GROUP: 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 GROUP
Largest movements
- Receivables within one year +€22,639
up €22,639 (+76.3%), from €29,669 to €52,308
- Tangible fixed assets -€22,388
down €22,388 (-52.0%), from €43,039 to €20,651
- Cash -€8,005
down €8,005 (-27.1%), from €29,588 to €21,583
mainly Receivables within one year (-€22,639) and Other debts (-€13,284)
- Trade debts +€18,981
up €18,981 (+69.3%), from €27,401 to €46,382
- Other debts -€13,284
down €13,284 (-94.9%), from €14,001 to €717
- Debts after one year -€10,651
down €10,651 (-63.2%), from €16,864 to €6,213
- Profit (loss) carried forward +€5,035
up €5,035 (+16.7%), from €30,101 to €35,136
- Tax, wage and social debts -€4,176
down €4,176 (-22.9%), from €18,271 to €14,094
of which Remuneration and social security: -€4,954
- Gross operating margin -€59,670
down €59,670 (-32.3%), from €184,473 to €124,803
- Staff costs -€23,983
down €23,983 (-19.6%), from €122,197 to €98,214
- Depreciation -€21,267
down €21,267 (-74.6%), from €28,524 to €7,257
- Taxes -€14,661
down €14,661 (-90.3%), from €16,240 to €1,579
- Other operating charges -€5,892
down €5,892 (-38.4%), from €15,351 to €9,460
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 | €132,796 | €125,193 | -€7,603 | -5.7% |
| Fixed assets | 21/28 | €73,539 | €51,151 | -€22,388 | -30.4% |
| Tangible fixed assets | 22/27 | €43,039 | €20,651 | -€22,388 | -52.0% |
| Furniture and vehicles | 24 | €43,039 | €20,651 | -€22,388 | -52.0% |
| Financial fixed assets | 28 | €30,500 | €30,500 | = | 0.0% |
| Current assets | 29/58 | €59,257 | €74,042 | +€14,785 | +25.0% |
| Amounts receivable within one year | 40/41 | €29,669 | €52,308 | +€22,639 | +76.3% |
| Trade receivables | 40 | €29,669 | €52,308 | +€22,639 | +76.3% |
| Cash at bank and in hand | 54/58 | €29,588 | €21,583 | -€8,005 | -27.1% |
| Deferred charges and accrued income | 490/1 | - | €151 | +€151 | |
| Total equity and liabilities | 10/49 | €132,796 | €125,193 | -€7,603 | -5.7% |
| Equity | 10/15 | €42,101 | €47,136 | +€5,035 | +12.0% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,101 | €35,136 | +€5,035 | +16.7% |
| Amounts payable | 17/49 | €90,695 | €78,057 | -€12,638 | -13.9% |
| Amounts payable after more than one year | 17 | €16,864 | €6,213 | -€10,651 | -63.2% |
| Financial debts | 170/4 | €16,864 | €6,213 | -€10,651 | -63.2% |
| Amounts payable within one year | 42/48 | €73,831 | €71,844 | -€1,988 | -2.7% |
| Current portion of amounts payable after more than one year | 42 | €14,159 | €10,651 | -€3,508 | -24.8% |
| Trade debts | 44 | €27,401 | €46,382 | +€18,981 | +69.3% |
| Suppliers | 440/4 | €27,401 | €46,382 | +€18,981 | +69.3% |
| Taxes, remuneration and social security | 45 | €18,271 | €14,094 | -€4,176 | -22.9% |
| Taxes | 450/3 | €5,171 | €5,949 | +€778 | +15.0% |
| Remuneration and social security | 454/9 | €13,100 | €8,146 | -€4,954 | -37.8% |
| Other amounts payable | 47/48 | €14,001 | €717 | -€13,284 | -94.9% |
| Remuneration, social security and pensions | 62 | €122,197 | €98,214 | -€23,983 | -19.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,524 | €7,257 | -€21,267 | -74.6% |
| Other operating charges | 640/8 | €15,351 | €9,460 | -€5,892 | -38.4% |
| Non-recurring operating charges | 66A | €49,049 | €2,893 | -€46,156 | -94.1% |
| Gross operating margin | 9900 | €184,473 | €124,803 | -€59,670 | -32.3% |
| Operating profit (loss) | 9901 | -€30,649 | €6,980 | +€37,628 | |
| Financial charges | 65/66B | €260 | €366 | +€106 | +40.7% |
| Recurring financial charges | 65 | €260 | €366 | +€106 | +40.7% |
| Profit (loss) for the period before taxes | 9903 | -€30,909 | €6,614 | +€37,523 | |
| Income taxes | 67/77 | €16,240 | €1,579 | -€14,661 | -90.3% |
| Profit (loss) for the period | 9904 | -€47,149 | €5,035 | +€52,184 | |
| Profit (loss) for the period to be appropriated | 9905 | -€47,149 | €5,035 | +€52,184 |
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.