FEMC: 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.
FEMC
Largest movements
- Current investments +€293,325
new in 2025: €293,325
- Cash -€46,679
down €46,679 (-16.7%), from €280,171 to €233,492
mainly Current investments (-€293,325) and Debts after one year (-€210,747)
- Tangible fixed assets -€25,061
down €25,061 (-9.8%), from €255,673 to €230,613
of which Furniture and vehicles: -€16,802
- Profit (loss) carried forward +€356,269
up €356,269 (+92.0%), from €387,375 to €743,645
- Debts after one year -€210,747
down €210,747 (-37.8%), from €557,994 to €347,247
- Other debts +€106,076
up €106,076 (+40.6%), from €261,403 to €367,480
- Trade debts -€23,168
down €23,168 (-92.9%), from €24,940 to €1,772
- Gross operating margin -€24,005
down €24,005 (-18.0%), from €133,718 to €109,713
- Taxes -€20,213
down €20,213 (-53.3%), from €37,915 to €17,702
- Financial income -€17,153
down €17,153 (-3.2%), from €531,565 to €514,411
- Depreciation +€12,004
up €12,004 (+91.9%), from €13,057 to €25,061
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 | €1,665,553 | €1,890,504 | +€224,952 | +13.5% |
| Fixed assets | 21/28 | €1,355,673 | €1,330,613 | -€25,061 | -1.8% |
| Tangible fixed assets | 22/27 | €255,673 | €230,613 | -€25,061 | -9.8% |
| Land and buildings | 22 | €143,824 | €141,162 | -€2,663 | -1.9% |
| Furniture and vehicles | 24 | €78,567 | €61,765 | -€16,802 | -21.4% |
| Other tangible fixed assets | 26 | €33,282 | €27,686 | -€5,596 | -16.8% |
| Financial fixed assets | 28 | €1,100,000 | €1,100,000 | = | 0.0% |
| Current assets | 29/58 | €309,879 | €559,892 | +€250,013 | +80.7% |
| Amounts receivable within one year | 40/41 | €27,127 | €31,083 | +€3,956 | +14.6% |
| Trade receivables | 40 | €20,086 | €20,804 | +€718 | +3.6% |
| Other amounts receivable | 41 | €7,041 | €10,279 | +€3,238 | +46.0% |
| Current investments | 50/53 | - | €293,325 | +€293,325 | |
| Cash at bank and in hand | 54/58 | €280,171 | €233,492 | -€46,679 | -16.7% |
| Deferred charges and accrued income | 490/1 | €2,581 | €1,991 | -€590 | -22.8% |
| Total equity and liabilities | 10/49 | €1,665,553 | €1,890,504 | +€224,952 | +13.5% |
| Equity | 10/15 | €713,060 | €1,067,825 | +€354,766 | +49.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €307,084 | €305,581 | -€1,504 | -0.5% |
| Tax-exempt reserves | 132 | €5,581 | €5,581 | = | 0.0% |
| Distributable reserves | 133 | €301,504 | €300,000 | -€1,504 | -0.5% |
| Profit (loss) carried forward | 14 | €387,375 | €743,645 | +€356,269 | +92.0% |
| Amounts payable | 17/49 | €952,493 | €822,679 | -€129,814 | -13.6% |
| Amounts payable after more than one year | 17 | €557,994 | €347,247 | -€210,747 | -37.8% |
| Financial debts | 170/4 | €557,994 | €347,247 | -€210,747 | -37.8% |
| Amounts payable within one year | 42/48 | €383,358 | €463,477 | +€80,119 | +20.9% |
| Current portion of amounts payable after more than one year | 42 | €91,742 | €92,847 | +€1,104 | +1.2% |
| Trade debts | 44 | €24,940 | €1,772 | -€23,168 | -92.9% |
| Suppliers | 440/4 | €24,940 | €1,772 | -€23,168 | -92.9% |
| Taxes, remuneration and social security | 45 | €5,272 | €1,379 | -€3,893 | -73.8% |
| Taxes | 450/3 | €5,272 | €1,379 | -€3,893 | -73.8% |
| Other amounts payable | 47/48 | €261,403 | €367,480 | +€106,076 | +40.6% |
| Accrued charges and deferred income | 492/3 | €11,141 | €11,955 | +€814 | +7.3% |
| Non-recurring operating income | 76A | €5,000 | - | -€5,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,057 | €25,061 | +€12,004 | +91.9% |
| Other operating charges | 640/8 | €1,275 | €1,527 | +€252 | +19.8% |
| Gross operating margin | 9900 | €133,718 | €109,713 | -€24,005 | -18.0% |
| Operating profit (loss) | 9901 | €119,386 | €83,125 | -€36,261 | -30.4% |
| Financial income | 75/76B | €531,565 | €514,411 | -€17,153 | -3.2% |
| Recurring financial income | 75 | €531,565 | €514,411 | -€17,153 | -3.2% |
| Financial charges | 65/66B | €25,660 | €25,068 | -€592 | -2.3% |
| Recurring financial charges | 65 | €25,660 | €25,068 | -€592 | -2.3% |
| Profit (loss) for the period before taxes | 9903 | €625,291 | €572,468 | -€52,823 | -8.4% |
| Income taxes | 67/77 | €37,915 | €17,702 | -€20,213 | -53.3% |
| Profit (loss) for the period | 9904 | €587,375 | €554,766 | -€32,610 | -5.6% |
| Profit (loss) for the period to be appropriated | 9905 | €587,375 | €554,766 | -€32,610 | -5.6% |
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 29 October 2026 via checked.be.