Fematti: 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.
Fematti
Largest movements
- Receivables within one year +€277,977
up €277,977 (+118%), from €235,955 to €513,932
of which Trade receivables: +€340,731
- Stocks and contracts +€218,950
up €218,950 (+1,002%), from €21,853 to €240,803
- Cash +€53,194
up €53,194 (+33.6%), from €158,482 to €211,676
mainly Trade debts (+€382,508) and Net result for the year (+€204,246)
- Deferred charges and accrued income +€29,638
up €29,638 (+197%), from €15,011 to €44,649
- Tangible fixed assets +€29,122
up €29,122 (+66.1%), from €44,039 to €73,161
of which Furniture and vehicles: +€30,979
- Trade debts +€382,508
up €382,508 (+863%), from €44,315 to €426,824
- Reserves +€145,257
up €145,257 (+36.7%), from €395,426 to €540,683
of which Distributable reserves: +€145,257
- Other debts +€54,338
up €54,338 (+1,763%), from €3,082 to €57,419
- Tax, wage and social debts +€26,778
up €26,778 (+192%), from €13,917 to €40,695
of which Taxes: +€24,978
- Gross operating margin +€107,331
up €107,331 (+54.6%), from €196,457 to €303,789
- Taxes +€45,572
up €45,572 (+153%), from €29,700 to €75,273
- Depreciation +€7,717
up €7,717 (+62.3%), from €12,391 to €20,108
- Financial charges +€3,716
up €3,716 (+2,222%), from €167 to €3,883
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 | €475,340 | €1,084,220 | +€608,881 | +128% |
| Fixed assets | 21/28 | €44,039 | €73,161 | +€29,122 | +66.1% |
| Tangible fixed assets | 22/27 | €44,039 | €73,161 | +€29,122 | +66.1% |
| Plant, machinery and equipment | 23 | €7,962 | €6,106 | -€1,857 | -23.3% |
| Furniture and vehicles | 24 | €36,076 | €67,056 | +€30,979 | +85.9% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €431,301 | €1,011,059 | +€579,758 | +134% |
| Stocks and contracts in progress | 3 | €21,853 | €240,803 | +€218,950 | +1,002% |
| Stocks | 30/36 | €21,853 | €240,803 | +€218,950 | +1,002% |
| Amounts receivable within one year | 40/41 | €235,955 | €513,932 | +€277,977 | +118% |
| Trade receivables | 40 | €172,947 | €513,678 | +€340,731 | +197% |
| Other amounts receivable | 41 | €63,008 | €254 | -€62,754 | -99.6% |
| Cash at bank and in hand | 54/58 | €158,482 | €211,676 | +€53,194 | +33.6% |
| Deferred charges and accrued income | 490/1 | €15,011 | €44,649 | +€29,638 | +197% |
| Total equity and liabilities | 10/49 | €475,340 | €1,084,220 | +€608,881 | +128% |
| Equity | 10/15 | €414,026 | €559,283 | +€145,257 | +35.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €395,426 | €540,683 | +€145,257 | +36.7% |
| Tax-exempt reserves | 132 | €75,780 | €75,780 | = | 0.0% |
| Distributable reserves | 133 | €319,646 | €464,903 | +€145,257 | +45.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €61,314 | €524,938 | +€463,624 | +756% |
| Amounts payable within one year | 42/48 | €61,314 | €524,938 | +€463,624 | +756% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €44,315 | €426,824 | +€382,508 | +863% |
| Suppliers | 440/4 | €44,315 | €426,824 | +€382,508 | +863% |
| Taxes, remuneration and social security | 45 | €13,917 | €40,695 | +€26,778 | +192% |
| Taxes | 450/3 | €13,917 | €38,895 | +€24,978 | +179% |
| Remuneration and social security | 454/9 | - | €1,800 | +€1,800 | |
| Other amounts payable | 47/48 | €3,082 | €57,419 | +€54,338 | +1,763% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,391 | €20,108 | +€7,717 | +62.3% |
| Other operating charges | 640/8 | €707 | €982 | +€274 | +38.7% |
| Non-recurring operating charges | 66A | €77,112 | €0 | -€77,112 | -100% |
| Gross operating margin | 9900 | €196,457 | €303,789 | +€107,331 | +54.6% |
| Operating profit (loss) | 9901 | €106,247 | €282,699 | +€176,452 | +166% |
| Financial income | 75/76B | €3 | €703 | +€699 | +20,813% |
| Recurring financial income | 75 | €3 | €703 | +€699 | +20,813% |
| Financial charges | 65/66B | €167 | €3,883 | +€3,716 | +2,222% |
| Recurring financial charges | 65 | €167 | €3,883 | +€3,716 | +2,222% |
| Profit (loss) for the period before taxes | 9903 | €106,083 | €279,519 | +€173,435 | +163% |
| Income taxes | 67/77 | €29,700 | €75,273 | +€45,572 | +153% |
| Profit (loss) for the period | 9904 | €76,383 | €204,246 | +€127,863 | +167% |
| Transfer to tax-exempt reserves | 689 | €75,780 | €0 | -€75,780 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €603 | €204,246 | +€203,643 | +33,758% |
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 19 October 2026 via checked.be.