FEMAVEST: 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.
FEMAVEST
Largest movements
- Cash +€103,115
up €103,115 (+993%), from €10,379 to €113,494
mainly Net result for the year (+€279,096) and Depreciation (+€54,405)
- Profit (loss) carried forward +€274,458
up €274,458 (+34.6%), from €793,724 to €1.1m
- Debts after one year -€223,724
down €223,724 (-16.9%), from €1.3m to €1.1m
of which Financial debts: -€223,724
- Contributions +€25,000
up €25,000 (+50.0%), from €50,000 to €75,000
- Financial income -€214,713
down €214,713 (-61.4%), from €349,533 to €134,820
- Gross operating margin +€47,058
up €47,058 (+16.1%), from €291,486 to €338,544
- Taxes +€21,379
up €21,379 (+71.3%), from €30,000 to €51,379
- Financial charges -€16,201
down €16,201 (-33.1%), from €48,973 to €32,772
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 | €2,344,292 | €2,427,219 | +€82,928 | +3.5% |
| Fixed assets | 21/28 | €2,302,199 | €2,279,346 | -€22,853 | -1.0% |
| Tangible fixed assets | 22/27 | €883,437 | €860,584 | -€22,853 | -2.6% |
| Land and buildings | 22 | €460,692 | €452,359 | -€8,333 | -1.8% |
| Plant, machinery and equipment | 23 | €220,738 | €209,632 | -€11,106 | -5.0% |
| Furniture and vehicles | 24 | €7,227 | €3,813 | -€3,414 | -47.2% |
| Other tangible fixed assets | 26 | €194,780 | €194,780 | = | 0.0% |
| Financial fixed assets | 28 | €1,418,762 | €1,418,762 | = | 0.0% |
| Current assets | 29/58 | €42,093 | €147,873 | +€105,781 | +251% |
| Amounts receivable within one year | 40/41 | €28,590 | €31,251 | +€2,661 | +9.3% |
| Trade receivables | 40 | €28,590 | €31,251 | +€2,661 | +9.3% |
| Cash at bank and in hand | 54/58 | €10,379 | €113,494 | +€103,115 | +993% |
| Deferred charges and accrued income | 490/1 | €3,123 | €3,128 | +€5 | +0.2% |
| Total equity and liabilities | 10/49 | €2,344,292 | €2,427,219 | +€82,928 | +3.5% |
| Equity | 10/15 | €868,349 | €1,167,807 | +€299,458 | +34.5% |
| Contributions | 10/11 | €50,000 | €75,000 | +€25,000 | +50.0% |
| Reserves | 13 | €24,625 | €24,625 | = | 0.0% |
| Distributable reserves | 133 | €24,625 | €24,625 | = | 0.0% |
| Profit (loss) carried forward | 14 | €793,724 | €1,068,182 | +€274,458 | +34.6% |
| Amounts payable | 17/49 | €1,475,943 | €1,259,412 | -€216,531 | -14.7% |
| Amounts payable after more than one year | 17 | €1,326,181 | €1,102,457 | -€223,724 | -16.9% |
| Financial debts | 170/4 | €1,325,181 | €1,101,457 | -€223,724 | -16.9% |
| Other amounts payable | 178/9 | €1,000 | €1,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €128,614 | €143,687 | +€15,072 | +11.7% |
| Current portion of amounts payable after more than one year | 42 | €112,014 | €113,667 | +€1,652 | +1.5% |
| Trade debts | 44 | €2,068 | €5,146 | +€3,078 | +149% |
| Suppliers | 440/4 | €2,068 | €5,146 | +€3,078 | +149% |
| Taxes, remuneration and social security | 45 | €11,149 | €23,208 | +€12,060 | +108% |
| Taxes | 450/3 | €2,182 | €13,940 | +€11,758 | +539% |
| Remuneration and social security | 454/9 | €8,967 | €9,269 | +€302 | +3.4% |
| Other amounts payable | 47/48 | €3,384 | €1,666 | -€1,718 | -50.8% |
| Accrued charges and deferred income | 492/3 | €21,148 | €13,268 | -€7,879 | -37.3% |
| Remuneration, social security and pensions | 62 | €50,177 | €51,261 | +€1,084 | +2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,809 | €54,405 | +€596 | +1.1% |
| Other operating charges | 640/8 | €3,998 | €4,451 | +€453 | +11.3% |
| Gross operating margin | 9900 | €291,486 | €338,544 | +€47,058 | +16.1% |
| Operating profit (loss) | 9901 | €183,502 | €228,427 | +€44,925 | +24.5% |
| Financial income | 75/76B | €349,533 | €134,820 | -€214,713 | -61.4% |
| Recurring financial income | 75 | €349,533 | €134,820 | -€214,713 | -61.4% |
| Financial charges | 65/66B | €48,973 | €32,772 | -€16,201 | -33.1% |
| Recurring financial charges | 65 | €48,973 | €32,772 | -€16,201 | -33.1% |
| Profit (loss) for the period before taxes | 9903 | €484,062 | €330,475 | -€153,587 | -31.7% |
| Income taxes | 67/77 | €30,000 | €51,379 | +€21,379 | +71.3% |
| Profit (loss) for the period | 9904 | €454,062 | €279,096 | -€174,966 | -38.5% |
| Profit (loss) for the period to be appropriated | 9905 | €454,062 | €279,096 | -€174,966 | -38.5% |
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 16 October 2026 via checked.be.