FEMAVA: 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.
FEMAVA
Largest movements
- Financial fixed assets +€225,874
up €225,874 (+34.7%), from €650,000 to €875,874
- Current investments +€23,980
up €23,980 (+2.1%), from €1.1m to €1.2m
- Contributions +€2.8m
up €2.8m (+18422.4%), from €15,000 to €2.8m
- Debts after one year -€1.8m
no longer reported in 2025 (was €1.8m)
- Profit (loss) carried forward -€678,814
down €678,814 (-787.2%), from -€86,236 to -€765,050
- Accrued charges and deferred income -€24,365
down €24,365 (-41.2%), from €59,166 to €34,800
- Financial charges +€625,758
up €625,758 (+1056.0%), from €59,255 to €685,013
of which Non-recurring financial charges: +€650,000
- Gross operating margin -€7,140
down €7,140 (-290.7%), from -€2,456 to -€9,595
- Financial income +€1,688
up €1,688 (+11.1%), from €15,234 to €16,921
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.
Cash bridge derived
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 | €1,808,319 | €2,048,106 | +€239,787 | +13.3% |
| Fixed assets | 21/28 | €650,000 | €875,874 | +€225,874 | +34.7% |
| Financial fixed assets | 28 | €650,000 | €875,874 | +€225,874 | +34.7% |
| Current assets | 29/58 | €1,158,319 | €1,172,232 | +€13,913 | +1.2% |
| Amounts receivable within one year | 40/41 | €500 | - | -€500 | |
| Other amounts receivable | 41 | €500 | - | -€500 | |
| Current investments | 50/53 | €1,136,036 | €1,160,017 | +€23,980 | +2.1% |
| Cash at bank and in hand | 54/58 | €21,783 | €12,215 | -€9,568 | -43.9% |
| Total equity and liabilities | 10/49 | €1,808,319 | €2,048,106 | +€239,787 | +13.3% |
| Equity | 10/15 | -€71,236 | €2,013,306 | +€2.1m | |
| Contributions | 10/11 | €15,000 | €2,778,356 | +€2.8m | +18422.4% |
| Profit (loss) carried forward | 14 | -€86,236 | -€765,050 | -€678,814 | -787.2% |
| Amounts payable | 17/49 | €1,879,556 | €34,800 | -€1.8m | -98.1% |
| Amounts payable after more than one year | 17 | €1,820,390 | - | -€1.8m | |
| Other amounts payable | 178/9 | €1,820,390 | - | -€1.8m | |
| Accrued charges and deferred income | 492/3 | €59,166 | €34,800 | -€24,365 | -41.2% |
| Other operating charges | 640/8 | €1,094 | €1,126 | +€33 | +3.0% |
| Gross operating margin | 9900 | -€2,456 | -€9,595 | -€7,140 | -290.7% |
| Operating profit (loss) | 9901 | -€3,549 | -€10,722 | -€7,172 | -202.1% |
| Financial income | 75/76B | €15,234 | €16,921 | +€1,688 | +11.1% |
| Recurring financial income | 75 | €15,234 | €16,921 | +€1,688 | +11.1% |
| Financial charges | 65/66B | €59,255 | €685,013 | +€625,758 | +1056.0% |
| Recurring financial charges | 65 | €59,255 | €35,013 | -€24,242 | -40.9% |
| Non-recurring financial charges | 66B | - | €650,000 | +€650,000 | |
| Profit (loss) for the period before taxes | 9903 | -€47,571 | -€678,814 | -€631,243 | -1327.0% |
| Profit (loss) for the period | 9904 | -€47,571 | -€678,814 | -€631,243 | -1327.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€47,571 | -€678,814 | -€631,243 | -1327.0% |
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 11 October 2026 via checked.be.