FIMA: 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.
FIMA
Largest movements
- Current investments -€5.5m
down €5.5m (-67.1%), from €8.1m to €2.7m
- Tangible fixed assets -€3.0m
down €3.0m (-46.5%), from €6.5m to €3.5m
of which Land and buildings: -€3.1m
- Cash +€2.6m
up €2.6m (+2,383%), from €107,334 to €2.7m
mainly Current investments (+€5.5m) and Other debts (+€3.1m)
- Reserves -€5.5m
down €5.5m (-66.0%), from €8.4m to €2.8m
of which Distributable reserves: -€4.5m
- Other debts +€3.1m
up €3.1m (+132%), from €2.4m to €5.5m
- Debts after one year -€1.7m
no longer reported in 2025 (was €1.7m)
- Contributions -€1.3m
down €1.3m (-66.2%), from €2.0m to €675,015
- Profit (loss) carried forward -€503,528
down €503,528 (-90.5%), from €556,407 to €52,879
- Gross operating margin +€873,186
up €873,186 (+98.6%), from €885,613 to €1.8m
- Depreciation -€80,617
down €80,617 (-18.0%), from €449,033 to €368,416
- Financial charges +€28,538
up €28,538 (+9.0%), from €316,902 to €345,440
- Financial income -€27,636
down €27,636 (-9.2%), from €300,200 to €272,564
of which Financial income: -€28,251
- Provisions +€19,229
up €19,229 (+94.1%), from -€20,439 to -€1,210
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 | €15,732,819 | €9,849,246 | -€5.9m | -37.4% |
| Fixed assets | 21/28 | €6,550,154 | €3,533,125 | -€3.0m | -46.1% |
| Tangible fixed assets | 22/27 | €6,488,305 | €3,471,276 | -€3.0m | -46.5% |
| Land and buildings | 22 | €6,405,018 | €3,324,349 | -€3.1m | -48.1% |
| Plant, machinery and equipment | 23 | - | €6,762 | +€6,762 | |
| Furniture and vehicles | 24 | €83,286 | €140,165 | +€56,879 | +68.3% |
| Financial fixed assets | 28 | €61,849 | €61,849 | -€0 | 0.0% |
| Current assets | 29/58 | €9,182,665 | €6,316,121 | -€2.9m | -31.2% |
| Stocks and contracts in progress | 3 | €175,180 | €175,180 | -€0 | 0.0% |
| Stocks | 30/36 | €175,180 | €175,180 | -€0 | 0.0% |
| Amounts receivable within one year | 40/41 | €759,982 | €792,634 | +€32,652 | +4.3% |
| Trade receivables | 40 | €24,696 | €9,684 | -€15,012 | -60.8% |
| Other amounts receivable | 41 | €735,285 | €782,950 | +€47,665 | +6.5% |
| Current investments | 50/53 | €8,133,789 | €2,677,916 | -€5.5m | -67.1% |
| Cash at bank and in hand | 54/58 | €107,334 | €2,664,725 | +€2.6m | +2,383% |
| Deferred charges and accrued income | 490/1 | €6,381 | €5,666 | -€715 | -11.2% |
| Total equity and liabilities | 10/49 | €15,732,819 | €9,849,246 | -€5.9m | -37.4% |
| Equity | 10/15 | €10,933,386 | €3,577,479 | -€7.4m | -67.3% |
| Contributions | 10/11 | €2,000,000 | €675,015 | -€1.3m | -66.2% |
| Reserves | 13 | €8,376,979 | €2,849,585 | -€5.5m | -66.0% |
| Tax-exempt reserves | 132 | €1,098,148 | €105,477 | -€992,671 | -90.4% |
| Distributable reserves | 133 | €7,278,832 | €2,744,108 | -€4.5m | -62.3% |
| Profit (loss) carried forward | 14 | €556,407 | €52,879 | -€503,528 | -90.5% |
| Provisions and deferred taxes | 16 | €402,927 | €587,792 | +€184,865 | +45.9% |
| Provisions for liabilities and charges | 160/5 | €37,498 | €36,288 | -€1,210 | -3.2% |
| Major repairs and maintenance | 162 | €37,498 | €36,288 | -€1,210 | -3.2% |
| Deferred taxes | 168 | €365,429 | €551,504 | +€186,075 | +50.9% |
| Amounts payable | 17/49 | €4,396,506 | €5,683,975 | +€1.3m | +29.3% |
| Amounts payable after more than one year | 17 | €1,654,272 | - | -€1.7m | |
| Other amounts payable | 178/9 | €1,654,272 | - | -€1.7m | |
| Amounts payable within one year | 42/48 | €2,400,696 | €5,656,603 | +€3.3m | +136% |
| Trade debts | 44 | €4,893 | €127,741 | +€122,848 | +2,511% |
| Suppliers | 440/4 | €4,893 | €127,741 | +€122,848 | +2,511% |
| Taxes, remuneration and social security | 45 | €35,145 | €48,048 | +€12,903 | +36.7% |
| Taxes | 450/3 | €35,145 | €48,048 | +€12,903 | +36.7% |
| Other amounts payable | 47/48 | €2,360,658 | €5,480,814 | +€3.1m | +132% |
| Accrued charges and deferred income | 492/3 | €341,538 | €27,372 | -€314,166 | -92.0% |
| Non-recurring operating income | 76A | - | €985,627 | +€985,627 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €449,033 | €368,416 | -€80,617 | -18.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€20,439 | -€1,210 | +€19,229 | +94.1% |
| Other operating charges | 640/8 | €103,281 | €105,257 | +€1,976 | +1.9% |
| Non-recurring operating charges | 66A | - | €13,825 | +€13,825 | |
| Gross operating margin | 9900 | €885,613 | €1,758,799 | +€873,186 | +98.6% |
| Operating profit (loss) | 9901 | €353,738 | €1,272,511 | +€918,773 | +260% |
| Financial income | 75/76B | €300,200 | €272,564 | -€27,636 | -9.2% |
| Recurring financial income | 75 | €300,200 | €271,949 | -€28,251 | -9.4% |
| Non-recurring financial income | 76B | - | €615 | +€615 | |
| Financial charges | 65/66B | €316,902 | €345,440 | +€28,538 | +9.0% |
| Recurring financial charges | 65 | €316,902 | €345,440 | +€28,538 | +9.0% |
| Profit (loss) for the period before taxes | 9903 | €337,036 | €1,199,635 | +€862,599 | +256% |
| Transfer from deferred taxes | 780 | €42,520 | €54,541 | +€12,021 | +28.3% |
| Transfer to deferred taxes | 680 | - | €240,616 | +€240,616 | |
| Income taxes | 67/77 | €128,285 | €130,378 | +€2,093 | +1.6% |
| Profit (loss) for the period | 9904 | €251,271 | €883,182 | +€631,911 | +251% |
| Transfer from tax-exempt reserves | 789 | €127,560 | €163,623 | +€36,063 | +28.3% |
| Transfer to tax-exempt reserves | 689 | - | €721,848 | +€721,848 | |
| Profit (loss) for the period to be appropriated | 9905 | €378,832 | €324,957 | -€53,875 | -14.2% |
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 18 October 2026 via checked.be.