FEMO: 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.
FEMO
Largest movements
- Cash -€23,972
down €23,972 (-77.8%), from €30,816 to €6,844
mainly Debts after one year (-€28,577) and Investment in fixed assets (net) (-€13,250)
- Tangible fixed assets -€13,471
down €13,471 (-4.7%), from €287,865 to €274,393
of which Land and buildings: -€12,707
- Debts after one year -€28,577
down €28,577 (-100.0%), from €28,577 to €0
- Other debts -€10,090
down €10,090 (-97.1%), from €10,390 to €300
- Provisions -€6,310
down €6,310 (-16.5%), from €38,325 to €32,016
- Reserves +€5,594
up €5,594 (+2.9%), from €194,055 to €199,649
of which Distributable reserves: +€24,523
- Gross operating margin +€4,044
up €4,044 (+10.8%), from €37,383 to €41,427
- Financial charges -€1,555
down €1,555 (-33.5%), from €4,647 to €3,092
- Taxes +€1,344
up €1,344 (+18.8%), from €7,151 to €8,495
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 | €319,735 | €282,970 | -€36,765 | -11.5% |
| Fixed assets | 21/28 | €287,865 | €274,393 | -€13,471 | -4.7% |
| Tangible fixed assets | 22/27 | €287,865 | €274,393 | -€13,471 | -4.7% |
| Land and buildings | 22 | €265,048 | €252,341 | -€12,707 | -4.8% |
| Plant, machinery and equipment | 23 | €4,592 | €3,856 | -€736 | -16.0% |
| Furniture and vehicles | 24 | €18,225 | €18,196 | -€29 | -0.2% |
| Current assets | 29/58 | €31,870 | €8,577 | -€23,293 | -73.1% |
| Amounts receivable within one year | 40/41 | €273 | €0 | -€273 | -100.0% |
| Other amounts receivable | 41 | €273 | €0 | -€273 | -100.0% |
| Cash at bank and in hand | 54/58 | €30,816 | €6,844 | -€23,972 | -77.8% |
| Deferred charges and accrued income | 490/1 | €781 | €1,732 | +€952 | +121.9% |
| Total equity and liabilities | 10/49 | €319,735 | €282,970 | -€36,765 | -11.5% |
| Equity | 10/15 | €212,605 | €218,199 | +€5,594 | +2.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €194,055 | €199,649 | +€5,594 | +2.9% |
| Tax-exempt reserves | 132 | €114,975 | €96,047 | -€18,929 | -16.5% |
| Distributable reserves | 133 | €79,080 | €103,603 | +€24,523 | +31.0% |
| Provisions and deferred taxes | 16 | €38,325 | €32,016 | -€6,310 | -16.5% |
| Deferred taxes | 168 | €38,325 | €32,016 | -€6,310 | -16.5% |
| Amounts payable | 17/49 | €68,804 | €32,755 | -€36,049 | -52.4% |
| Amounts payable after more than one year | 17 | €28,577 | €0 | -€28,577 | -100.0% |
| Financial debts | 170/4 | €28,577 | €0 | -€28,577 | -100.0% |
| Amounts payable within one year | 42/48 | €40,227 | €32,755 | -€7,472 | -18.6% |
| Current portion of amounts payable after more than one year | 42 | €28,571 | €28,577 | +€6 | 0.0% |
| Trade debts | 44 | €1,115 | €3,383 | +€2,268 | +203.4% |
| Suppliers | 440/4 | €1,115 | €3,383 | +€2,268 | +203.4% |
| Taxes, remuneration and social security | 45 | €151 | €495 | +€344 | +227.4% |
| Taxes | 450/3 | €151 | €495 | +€344 | +227.4% |
| Other amounts payable | 47/48 | €10,390 | €300 | -€10,090 | -97.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,592 | €26,721 | +€130 | +0.5% |
| Other operating charges | 640/8 | €3,719 | €3,836 | +€117 | +3.1% |
| Gross operating margin | 9900 | €37,383 | €41,427 | +€4,044 | +10.8% |
| Operating profit (loss) | 9901 | €7,073 | €10,870 | +€3,797 | +53.7% |
| Financial income | 75/76B | €1 | €2 | +€1 | +213.8% |
| Recurring financial income | 75 | €1 | €2 | +€1 | +213.8% |
| Financial charges | 65/66B | €4,647 | €3,092 | -€1,555 | -33.5% |
| Recurring financial charges | 65 | €4,647 | €3,092 | -€1,555 | -33.5% |
| Profit (loss) for the period before taxes | 9903 | €2,427 | €7,780 | +€5,353 | +220.6% |
| Transfer from deferred taxes | 780 | €6,310 | €6,310 | = | 0.0% |
| Income taxes | 67/77 | €7,151 | €8,495 | +€1,344 | +18.8% |
| Profit (loss) for the period | 9904 | €1,585 | €5,594 | +€4,009 | +253.0% |
| Transfer from tax-exempt reserves | 789 | €18,929 | €18,929 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €20,513 | €24,523 | +€4,009 | +19.5% |
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 9 October 2026 via checked.be.