FIEMAG: 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.
FIEMAG
Largest movements
- Cash +€189,171
up €189,171 (+267%), from €70,776 to €259,946
mainly Current investments (+€150,000) and Net result for the year (+€32,259)
- Current investments -€150,000
no longer reported in 2025 (was €150,000)
- Reserves +€32,259
up €32,259 (+11.1%), from €289,731 to €321,990
of which Distributable reserves: +€32,259
- Gross operating margin -€17,473
down €17,473 (-30.8%), from €56,657 to €39,184
- Taxes -€3,552
down €3,552 (-22.1%), from €16,083 to €12,530
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 | €961,127 | €1,004,803 | +€43,676 | +4.5% |
| Fixed assets | 21/28 | €606,428 | €607,327 | +€899 | +0.1% |
| Tangible fixed assets | 22/27 | €606,428 | €607,327 | +€899 | +0.1% |
| Land and buildings | 22 | €606,305 | €606,305 | = | 0.0% |
| Plant, machinery and equipment | 23 | €123 | €1,022 | +€899 | +728% |
| Current assets | 29/58 | €354,699 | €397,476 | +€42,777 | +12.1% |
| Amounts receivable after more than one year | 29 | €120,000 | €120,000 | = | 0.0% |
| Other amounts receivable | 291 | €120,000 | €120,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €3,400 | - | -€3,400 | |
| Trade receivables | 40 | €3,400 | - | -€3,400 | |
| Current investments | 50/53 | €150,000 | - | -€150,000 | |
| Cash at bank and in hand | 54/58 | €70,776 | €259,946 | +€189,171 | +267% |
| Deferred charges and accrued income | 490/1 | €10,524 | €17,530 | +€7,006 | +66.6% |
| Total equity and liabilities | 10/49 | €961,127 | €1,004,803 | +€43,676 | +4.5% |
| Equity | 10/15 | €941,532 | €973,791 | +€32,259 | +3.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €557,199 | €557,199 | = | 0.0% |
| Reserves | 13 | €289,731 | €321,990 | +€32,259 | +11.1% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €441 | €441 | = | 0.0% |
| Distributable reserves | 133 | €283,090 | €315,349 | +€32,259 | +11.4% |
| Profit (loss) carried forward | 14 | €32,602 | €32,602 | = | 0.0% |
| Amounts payable | 17/49 | €19,596 | €31,013 | +€11,417 | +58.3% |
| Amounts payable within one year | 42/48 | €18,850 | €30,293 | +€11,443 | +60.7% |
| Trade debts | 44 | €458 | €9,196 | +€8,738 | +1,909% |
| Suppliers | 440/4 | €458 | €9,196 | +€8,738 | +1,909% |
| Taxes, remuneration and social security | 45 | €7,722 | €11,376 | +€3,654 | +47.3% |
| Taxes | 450/3 | €7,722 | €11,376 | +€3,654 | +47.3% |
| Other amounts payable | 47/48 | €10,670 | €9,720 | -€949 | -8.9% |
| Accrued charges and deferred income | 492/3 | €746 | €720 | -€26 | -3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €474 | €145 | -€328 | -69.3% |
| Other operating charges | 640/8 | €894 | €1,251 | +€358 | +40.0% |
| Gross operating margin | 9900 | €56,657 | €39,184 | -€17,473 | -30.8% |
| Operating profit (loss) | 9901 | €55,290 | €37,787 | -€17,502 | -31.7% |
| Financial income | 75/76B | €7,208 | €7,246 | +€38 | +0.5% |
| Recurring financial income | 75 | €7,208 | €7,246 | +€38 | +0.5% |
| Financial charges | 65/66B | €113 | €244 | +€132 | +117% |
| Recurring financial charges | 65 | €113 | €244 | +€132 | +117% |
| Profit (loss) for the period before taxes | 9903 | €62,385 | €44,789 | -€17,596 | -28.2% |
| Income taxes | 67/77 | €16,083 | €12,530 | -€3,552 | -22.1% |
| Profit (loss) for the period | 9904 | €46,303 | €32,259 | -€14,044 | -30.3% |
| Profit (loss) for the period to be appropriated | 9905 | €46,303 | €32,259 | -€14,044 | -30.3% |
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 17 October 2026 via checked.be.