FIM: 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.
FIM
Largest movements
- Tangible fixed assets +€3.9m
up €3.9m (+46.7%), from €8.3m to €12.1m
of which Land and buildings: +€5.0m
- Receivables within one year +€1.8m
up €1.8m (+1822.5%), from €96,556 to €1.9m
of which Other amounts receivable: +€1.8m
- Cash +€187,810
up €187,810 (+338.0%), from €55,567 to €243,377
mainly Debts after one year (+€5.1m) and Trade debts (+€701,295)
- Debts after one year +€5.1m
up €5.1m (+97.7%), from €5.2m to €10.3m
- Trade debts +€701,295
up €701,295 (+324.9%), from €215,873 to €917,167
- Other debts -€447,100
down €447,100 (-35.3%), from €1.3m to €820,141
- Current portion of long-term debt +€402,531
up €402,531 (+68.2%), from €589,965 to €992,496
- Gross operating margin +€161,320
up €161,320 (+21.5%), from €748,972 to €910,292
- Financial charges +€132,756
up €132,756 (+64.2%), from €206,657 to €339,413
- Depreciation +€119,461
up €119,461 (+33.6%), from €355,513 to €474,974
- Financial income +€55,661
up €55,661 (+6983.1%), from €797 to €56,458
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 | €8,437,052 | €14,249,206 | +€5.8m | +68.9% |
| Fixed assets | 21/28 | €8,283,088 | €12,147,686 | +€3.9m | +46.7% |
| Tangible fixed assets | 22/27 | €8,270,483 | €12,135,081 | +€3.9m | +46.7% |
| Land and buildings | 22 | €6,786,883 | €11,761,801 | +€5.0m | +73.3% |
| Assets under construction and advance payments | 27 | €1,483,600 | €373,280 | -€1.1m | -74.8% |
| Financial fixed assets | 28 | €12,605 | €12,605 | = | 0.0% |
| Current assets | 29/58 | €153,964 | €2,101,520 | +€1.9m | +1264.9% |
| Amounts receivable within one year | 40/41 | €96,556 | €1,856,302 | +€1.8m | +1822.5% |
| Trade receivables | 40 | €2,676 | €2,676 | = | 0.0% |
| Other amounts receivable | 41 | €93,880 | €1,853,626 | +€1.8m | +1874.5% |
| Cash at bank and in hand | 54/58 | €55,567 | €243,377 | +€187,810 | +338.0% |
| Deferred charges and accrued income | 490/1 | €1,842 | €1,842 | = | 0.0% |
| Total equity and liabilities | 10/49 | €8,437,052 | €14,249,206 | +€5.8m | +68.9% |
| Equity | 10/15 | €1,069,141 | €1,119,201 | +€50,060 | +4.7% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €819,141 | €869,201 | +€50,060 | +6.1% |
| Non-distributable reserves | 130/1 | €25,000 | €25,000 | = | 0.0% |
| Legal reserve | 130 | €25,000 | €25,000 | = | 0.0% |
| Distributable reserves | 133 | €794,141 | €844,201 | +€50,060 | +6.3% |
| Amounts payable | 17/49 | €7,367,911 | €13,130,006 | +€5.8m | +78.2% |
| Amounts payable after more than one year | 17 | €5,222,048 | €10,326,271 | +€5.1m | +97.7% |
| Financial debts | 170/4 | €5,222,048 | €10,326,271 | +€5.1m | +97.7% |
| Amounts payable within one year | 42/48 | €2,102,483 | €2,750,521 | +€648,038 | +30.8% |
| Current portion of amounts payable after more than one year | 42 | €589,965 | €992,496 | +€402,531 | +68.2% |
| Financial debts | 43 | €29,404 | €20,716 | -€8,688 | -29.5% |
| Credit institutions | 430/8 | €29,404 | €20,716 | -€8,688 | -29.5% |
| Trade debts | 44 | €215,873 | €917,167 | +€701,295 | +324.9% |
| Suppliers | 440/4 | €215,873 | €917,167 | +€701,295 | +324.9% |
| Other amounts payable | 47/48 | €1,267,240 | €820,141 | -€447,100 | -35.3% |
| Accrued charges and deferred income | 492/3 | €43,381 | €53,214 | +€9,833 | +22.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €355,513 | €474,974 | +€119,461 | +33.6% |
| Other operating charges | 640/8 | €74,918 | €77,163 | +€2,246 | +3.0% |
| Gross operating margin | 9900 | €748,972 | €910,292 | +€161,320 | +21.5% |
| Operating profit (loss) | 9901 | €318,541 | €358,155 | +€39,614 | +12.4% |
| Financial income | 75/76B | €797 | €56,458 | +€55,661 | +6983.1% |
| Recurring financial income | 75 | €797 | €56,458 | +€55,661 | +6983.1% |
| Financial charges | 65/66B | €206,657 | €339,413 | +€132,756 | +64.2% |
| Recurring financial charges | 65 | €206,657 | €339,413 | +€132,756 | +64.2% |
| Profit (loss) for the period before taxes | 9903 | €112,681 | €75,200 | -€37,481 | -33.3% |
| Income taxes | 67/77 | €21,830 | €25,141 | +€3,311 | +15.2% |
| Profit (loss) for the period | 9904 | €90,851 | €50,060 | -€40,792 | -44.9% |
| Profit (loss) for the period to be appropriated | 9905 | €90,851 | €50,060 | -€40,792 | -44.9% |
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 11 October 2026 via checked.be.