FEM5: 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.
What changed
FEM5
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€10,499
2024 · €36,499-€26,000
Equity
€3.3m
2024 · €3.2m+€75,830
Cash
€101,026
2024 · €61,750+€39,277
Balance sheet total
€4.1m
2024 · €4.2m-€141,137
Largest movements
Assets
- Tangible fixed assets -€187,857
down €187,857 (-4.7%), from €4.0m to €3.8m
of which Land and buildings: -€187,326
Equity and liabilities
- Provisions -€286,221
down €286,221 (-74.1%), from €386,476 to €100,255
- Debts after one year +€144,060
up €144,060 (+40.3%), from €357,466 to €501,526
- Profit (loss) carried forward +€75,830
up €75,830 (+9.9%), from €762,370 to €838,200
- Current portion of long-term debt -€47,102
down €47,102 (-46.1%), from €102,154 to €55,052
Income statement
- Other operating charges +€6,384
up €6,384 (+12.2%), from €52,256 to €58,640
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.
Result 2024
€36,499
Gross operating margin
-€2,470
Depreciation
+€3,112
Other operating charges
-€6,384
Other operating items
-€17,903
Financial income
+€1
Financial charges
+€300
Taxes
-€2,489
Deferred taxes and other
-€166
Result 2025
€10,499
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€64,191
Investment
-€58,942
Financing
+€162,410
Cash 2024
€61,750
From operations (derived)
-€64,191
Net result for the year
+€10,499
Depreciation
+€246,799
Receivables within one year
+€385
Deferred charges and accrued income
-€7,828
Provisions
-€286,221
Trade debts
+€3,625
Tax, wage and social debts
-€729
Other debts
-€30,721
Investment (derived)
-€58,942
Investment in fixed assets (net)
-€58,942
Financing
+€162,410
Debts after one year
+€144,060
Current portion of long-term debt
-€47,102
Short-term financial debts
+€121
Contributions, distributions and other
+€65,331
Cash 2025
€101,026
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,208,410 | €4,067,273 | -€141,137 | -3.4% |
| Fixed assets | 21/28 | €3,998,593 | €3,810,736 | -€187,857 | -4.7% |
| Tangible fixed assets | 22/27 | €3,998,419 | €3,810,561 | -€187,857 | -4.7% |
| Land and buildings | 22 | €3,450,512 | €3,263,185 | -€187,326 | -5.4% |
| Plant, machinery and equipment | 23 | €6,423 | €8,234 | +€1,811 | +28.2% |
| Furniture and vehicles | 24 | €150,531 | €184,002 | +€33,471 | +22.2% |
| Leasing and similar rights | 25 | €390,953 | €355,141 | -€35,813 | -9.2% |
| Financial fixed assets | 28 | €175 | €175 | = | 0.0% |
| Current assets | 29/58 | €209,817 | €256,537 | +€46,720 | +22.3% |
| Amounts receivable within one year | 40/41 | €649 | €265 | -€385 | -59.2% |
| Trade receivables | 40 | €385 | €0 | -€385 | -100% |
| Other amounts receivable | 41 | €265 | €265 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €61,750 | €101,026 | +€39,277 | +63.6% |
| Deferred charges and accrued income | 490/1 | €147,418 | €155,246 | +€7,828 | +5.3% |
| Total equity and liabilities | 10/49 | €4,208,410 | €4,067,273 | -€141,137 | -3.4% |
| Equity | 10/15 | €3,196,070 | €3,271,900 | +€75,830 | +2.4% |
| Contributions | 10/11 | €13,000 | €13,000 | = | 0.0% |
| Contributions outside capital | 11 | €13,000 | - | -€13,000 | |
| Other | 1109/19 | €13,000 | - | -€13,000 | |
| Reserves | 13 | €2,420,700 | €2,420,700 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,950 | €1,950 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,950 | €1,950 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €2,400,000 | €2,400,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €762,370 | €838,200 | +€75,830 | +9.9% |
| Provisions and deferred taxes | 16 | €386,476 | €100,255 | -€286,221 | -74.1% |
| Deferred taxes | 168 | €386,476 | €100,255 | -€286,221 | -74.1% |
| Amounts payable | 17/49 | €625,864 | €695,118 | +€69,254 | +11.1% |
| Amounts payable after more than one year | 17 | €357,466 | €501,526 | +€144,060 | +40.3% |
| Financial debts | 170/4 | €357,466 | €501,526 | +€144,060 | +40.3% |
| Amounts payable within one year | 42/48 | €268,398 | €193,592 | -€74,806 | -27.9% |
| Current portion of amounts payable after more than one year | 42 | €102,154 | €55,052 | -€47,102 | -46.1% |
| Financial debts | 43 | - | €121 | +€121 | |
| Credit institutions | 430/8 | - | €121 | +€121 | |
| Trade debts | 44 | €2,452 | €6,077 | +€3,625 | +148% |
| Suppliers | 440/4 | €2,452 | €6,077 | +€3,625 | +148% |
| Taxes, remuneration and social security | 45 | €3,324 | €2,595 | -€729 | -21.9% |
| Taxes | 450/3 | €3,324 | €2,595 | -€729 | -21.9% |
| Other amounts payable | 47/48 | €160,468 | €129,747 | -€30,721 | -19.1% |
| Non-recurring operating income | 76A | €28,089 | €0 | -€28,089 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €249,911 | €246,799 | -€3,112 | -1.2% |
| Other operating charges | 640/8 | €52,256 | €58,640 | +€6,384 | +12.2% |
| Non-recurring operating charges | 66A | - | €17,903 | +€17,903 | |
| Gross operating margin | 9900 | €336,399 | €333,929 | -€2,470 | -0.7% |
| Operating profit (loss) | 9901 | €34,233 | €10,586 | -€23,646 | -69.1% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €19,677 | €19,377 | -€300 | -1.5% |
| Recurring financial charges | 65 | €19,677 | €19,377 | -€300 | -1.5% |
| Profit (loss) for the period before taxes | 9903 | €14,556 | -€8,789 | -€23,345 | |
| Transfer from deferred taxes | 780 | €21,943 | €21,777 | -€166 | -0.8% |
| Income taxes | 67/77 | - | €2,489 | +€2,489 | |
| Profit (loss) for the period | 9904 | €36,499 | €10,499 | -€26,000 | -71.2% |
| Transfer from tax-exempt reserves | 789 | €65,829 | €65,331 | -€498 | -0.8% |
| Profit (loss) for the period to be appropriated | 9905 | €102,328 | €75,830 | -€26,499 | -25.9% |
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 20 October 2026 via checked.be.