FEMAB: 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.
FEMAB
Largest movements
- Receivables within one year -€106,222
down €106,222 (-55.0%), from €193,225 to €87,003
of which Trade receivables: -€133,817
- Tangible fixed assets -€78,587
down €78,587 (-4.8%), from €1.6m to €1.6m
of which Land and buildings: -€56,323
- Current portion of long-term debt -€133,237
no longer reported in 2025 (was €133,237)
- Debts after one year -€116,903
down €116,903 (-11.2%), from €1.0m to €929,762
of which Financial debts: -€116,903
- Trade debts -€115,707
down €115,707 (-99.2%), from €116,592 to €885
- Short-term financial debts +€89,966
up €89,966 (+146%), from €61,739 to €151,706
- Reserves +€71,500
up €71,500 (+16.0%), from €446,560 to €518,060
- Depreciation -€11,318
down €11,318 (-12.2%), from €92,718 to €81,399
- Financial charges +€10,990
up €10,990 (+57.1%), from €19,242 to €30,232
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 | €1,831,015 | €1,653,232 | -€177,783 | -9.7% |
| Fixed assets | 21/28 | €1,631,319 | €1,552,732 | -€78,587 | -4.8% |
| Tangible fixed assets | 22/27 | €1,630,694 | €1,552,107 | -€78,587 | -4.8% |
| Land and buildings | 22 | €1,375,572 | €1,319,250 | -€56,323 | -4.1% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €4,436 | €5,236 | +€800 | +18.0% |
| Other tangible fixed assets | 26 | €250,685 | €227,621 | -€23,064 | -9.2% |
| Financial fixed assets | 28 | €625 | €625 | = | 0.0% |
| Current assets | 29/58 | €199,696 | €100,499 | -€99,196 | -49.7% |
| Amounts receivable within one year | 40/41 | €193,225 | €87,003 | -€106,222 | -55.0% |
| Trade receivables | 40 | €165,277 | €31,460 | -€133,817 | -81.0% |
| Other amounts receivable | 41 | €27,948 | €55,543 | +€27,595 | +98.7% |
| Cash at bank and in hand | 54/58 | €3,980 | €10,172 | +€6,192 | +156% |
| Deferred charges and accrued income | 490/1 | €2,490 | €3,324 | +€834 | +33.5% |
| Total equity and liabilities | 10/49 | €1,831,015 | €1,653,232 | -€177,783 | -9.7% |
| Equity | 10/15 | €468,783 | €540,355 | +€71,573 | +15.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €446,560 | €518,060 | +€71,500 | +16.0% |
| Distributable reserves | 133 | €446,560 | €518,060 | +€71,500 | +16.0% |
| Profit (loss) carried forward | 14 | €16,023 | €16,095 | +€73 | +0.5% |
| Amounts payable | 17/49 | €1,362,232 | €1,112,876 | -€249,356 | -18.3% |
| Amounts payable after more than one year | 17 | €1,046,665 | €929,762 | -€116,903 | -11.2% |
| Financial debts | 170/4 | €1,046,615 | €929,712 | -€116,903 | -11.2% |
| Other amounts payable | 178/9 | €50 | €50 | = | 0.0% |
| Amounts payable within one year | 42/48 | €315,567 | €183,114 | -€132,453 | -42.0% |
| Current portion of amounts payable after more than one year | 42 | €133,237 | - | -€133,237 | |
| Financial debts | 43 | €61,739 | €151,706 | +€89,966 | +146% |
| Credit institutions | 430/8 | €61,739 | €151,706 | +€89,966 | +146% |
| Trade debts | 44 | €116,592 | €885 | -€115,707 | -99.2% |
| Suppliers | 440/4 | €116,592 | €885 | -€115,707 | -99.2% |
| Taxes, remuneration and social security | 45 | €3,999 | €30,523 | +€26,525 | +663% |
| Taxes | 450/3 | €3,999 | €30,523 | +€26,525 | +663% |
| Non-recurring operating income | 76A | €1,240 | - | -€1,240 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,718 | €81,399 | -€11,318 | -12.2% |
| Other operating charges | 640/8 | €7,722 | €8,201 | +€479 | +6.2% |
| Gross operating margin | 9900 | €228,149 | €228,791 | +€641 | +0.3% |
| Operating profit (loss) | 9901 | €127,709 | €139,191 | +€11,481 | +9.0% |
| Financial income | 75/76B | €31 | €0 | -€31 | -100.0% |
| Recurring financial income | 75 | €31 | €0 | -€31 | -100.0% |
| Financial charges | 65/66B | €19,242 | €30,232 | +€10,990 | +57.1% |
| Recurring financial charges | 65 | €19,242 | €30,232 | +€10,990 | +57.1% |
| Profit (loss) for the period before taxes | 9903 | €108,499 | €108,959 | +€460 | +0.4% |
| Income taxes | 67/77 | €37,399 | €37,386 | -€13 | 0.0% |
| Profit (loss) for the period | 9904 | €71,100 | €71,573 | +€473 | +0.7% |
| Profit (loss) for the period to be appropriated | 9905 | €71,100 | €71,573 | +€473 | +0.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.