FEMO: what changed
Two fiscal 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
- Stocks and contracts +€65,078
up €65,078 (+1.3%), from €5.0m to €5.1m
- Other debts +€645,782
up €645,782 (+38.0%), from €1.7m to €2.3m
- Debts after one year -€384,608
down €384,608 (-23.5%), from €1.6m to €1.3m
- Profit (loss) carried forward -€180,224
down €180,224 (-215.4%), from -€83,683 to -€263,908
- Gross operating margin -€175,218
down €175,218, from €162,196 to -€13,022
- Financial charges -€47,102
down €47,102 (-21.7%), from €217,236 to €170,133
- Other operating charges -€15,783
down €15,783 (-45.5%), from €34,722 to €18,939
- Taxes -€12,902
down €12,902, from €302 to -€12,600
- Financial income +€2,890
up €2,890 (+45.3%), from €6,380 to €9,270
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 | €5,889,035 | €5,963,785 | +€74,750 | +1.3% |
| Fixed assets | 21/28 | €5,962 | €5,962 | = | 0.0% |
| Financial fixed assets | 28 | €5,962 | €5,962 | = | 0.0% |
| Current assets | 29/58 | €5,883,074 | €5,957,823 | +€74,750 | +1.3% |
| Stocks and contracts in progress | 3 | €5,019,598 | €5,084,676 | +€65,078 | +1.3% |
| Stocks | 30/36 | €5,019,598 | €5,084,676 | +€65,078 | +1.3% |
| Amounts receivable within one year | 40/41 | €761,689 | €797,875 | +€36,186 | +4.8% |
| Trade receivables | 40 | - | €1,615 | +€1,615 | |
| Other amounts receivable | 41 | €761,689 | €796,260 | +€34,572 | +4.5% |
| Cash at bank and in hand | 54/58 | €101,787 | €75,272 | -€26,515 | -26.0% |
| Total equity and liabilities | 10/49 | €5,889,035 | €5,963,785 | +€74,750 | +1.3% |
| Equity | 10/15 | €1,743,796 | €1,563,571 | -€180,224 | -10.3% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €1,765,506 | €1,765,506 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €1,759,308 | €1,759,308 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€83,683 | -€263,908 | -€180,224 | -215.4% |
| Amounts payable | 17/49 | €4,145,240 | €4,400,214 | +€254,974 | +6.2% |
| Amounts payable after more than one year | 17 | €1,638,471 | €1,253,863 | -€384,608 | -23.5% |
| Financial debts | 170/4 | €1,638,471 | €1,253,863 | -€384,608 | -23.5% |
| Amounts payable within one year | 42/48 | €2,506,769 | €3,146,351 | +€639,581 | +25.5% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €807,794 | €800,000 | -€7,794 | -1.0% |
| Credit institutions | 430/8 | €807,794 | €800,000 | -€7,794 | -1.0% |
| Trade debts | 44 | €0 | €1,593 | +€1,593 | |
| Suppliers | 440/4 | €0 | €1,593 | +€1,593 | |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,698,975 | €2,344,757 | +€645,782 | +38.0% |
| Non-recurring operating income | 76A | - | €20,845 | +€20,845 | |
| Other operating charges | 640/8 | €34,722 | €18,939 | -€15,783 | -45.5% |
| Gross operating margin | 9900 | €162,196 | -€13,022 | -€175,218 | |
| Operating profit (loss) | 9901 | €127,474 | -€31,961 | -€159,435 | |
| Financial income | 75/76B | €6,380 | €9,270 | +€2,890 | +45.3% |
| Recurring financial income | 75 | €6,380 | €9,270 | +€2,890 | +45.3% |
| Financial charges | 65/66B | €217,236 | €170,133 | -€47,102 | -21.7% |
| Recurring financial charges | 65 | €217,236 | €170,133 | -€47,102 | -21.7% |
| Profit (loss) for the period before taxes | 9903 | -€83,382 | -€192,824 | -€109,443 | -131.3% |
| Income taxes | 67/77 | €302 | -€12,600 | -€12,902 | |
| Profit (loss) for the period | 9904 | -€83,683 | -€180,224 | -€96,541 | -115.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€83,683 | -€180,224 | -€96,541 | -115.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.