FIMADERO: 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.
What changed
FIMADERO
NACE 66.199, Other activities auxiliary to financial services, excluding insurance and pension funding
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€307,717
2024 · -€64,834-€242,882
Equity
€40.6m
2024 · €40.9m-€307,717
Cash
€7,448
2024 · €25,839-€18,391
Balance sheet total
€58.1m
2024 · €58.7m-€551,585
Largest movements
Assets
- Receivables after one year +€5.5m
up €5.5m (+164.5%), from €3.3m to €8.8m
- Financial fixed assets -€4.0m
down €4.0m (-11.0%), from €36.3m to €32.3m
- Receivables within one year -€2.2m
down €2.2m (-16.3%), from €13.5m to €11.3m
of which Other amounts receivable: -€2.2m
- Tangible fixed assets +€635,114
up €635,114 (+19.4%), from €3.3m to €3.9m
of which Assets under construction and advance payments: +€780,422
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Financial charges +€307,931
up €307,931 (+69954.1%), from €440 to €308,371
- Financial income +€128,017
up €128,017 (+82.6%), from €155,051 to €283,067
- Depreciation +€35,756
up €35,756 (+14.8%), from €240,842 to €276,597
- Gross operating margin -€30,117
down €30,117 (-15.2%), from €197,628 to €167,511
- Other operating charges -€3,088
down €3,088 (-1.8%), from €176,074 to €172,986
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.
Result 2024
-€64,834
Gross operating margin
-€30,117
Depreciation
-€35,756
Other operating charges
+€3,088
Financial income
+€128,017
Financial charges
-€307,931
Taxes
-€184
Result 2025
-€307,717
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.
From operations
-€3.7m
Investment
+€3.7m
Financing
€0
Cash 2024
€25,839
From operations (derived)
-€3.7m
Net result for the year
-€307,717
Depreciation
+€276,597
Receivables after one year
-€5.5m
Receivables within one year
+€2.2m
Deferred charges and accrued income
-€167,099
Trade debts
-€14,175
Smaller working-capital items
+€1,642
Other debts
-€231,336
Investment (derived)
+€3.7m
Investment in fixed assets (net)
+€3.2m
Current investments
+€504,151
Cash 2025
€7,448
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €58,665,579 | €58,113,994 | -€551,585 | -0.9% |
| Fixed assets | 21/28 | €40,783,017 | €37,300,067 | -€3.5m | -8.5% |
| Intangible fixed assets | 21 | €1,228,763 | €1,099,420 | -€129,344 | -10.5% |
| Tangible fixed assets | 22/27 | €3,277,901 | €3,913,015 | +€635,114 | +19.4% |
| Land and buildings | 22 | €3,244,417 | €3,099,108 | -€145,309 | -4.5% |
| Other tangible fixed assets | 26 | €33,484 | €33,484 | = | 0.0% |
| Assets under construction and advance payments | 27 | - | €780,422 | +€780,422 | |
| Financial fixed assets | 28 | €36,276,352 | €32,287,632 | -€4.0m | -11.0% |
| Current assets | 29/58 | €17,882,562 | €20,813,927 | +€2.9m | +16.4% |
| Amounts receivable after more than one year | 29 | €3,340,000 | €8,835,790 | +€5.5m | +164.5% |
| Other amounts receivable | 291 | €3,340,000 | €8,835,790 | +€5.5m | +164.5% |
| Amounts receivable within one year | 40/41 | €13,510,906 | €11,301,924 | -€2.2m | -16.3% |
| Trade receivables | 40 | €58,475 | €75,616 | +€17,141 | +29.3% |
| Other amounts receivable | 41 | €13,452,431 | €11,226,308 | -€2.2m | -16.5% |
| Current investments | 50/53 | €1,001,422 | €497,271 | -€504,151 | -50.3% |
| Cash at bank and in hand | 54/58 | €25,839 | €7,448 | -€18,391 | -71.2% |
| Deferred charges and accrued income | 490/1 | €4,395 | €171,494 | +€167,099 | +3802.1% |
| Total equity and liabilities | 10/49 | €58,665,579 | €58,113,994 | -€551,585 | -0.9% |
| Equity | 10/15 | €40,878,666 | €40,570,949 | -€307,717 | -0.8% |
| Contributions | 10/11 | €68,170,712 | €68,170,712 | = | 0.0% |
| Capital | 10 | €68,170,712 | €68,170,712 | = | 0.0% |
| Issued capital | 100 | €68,170,712 | €68,170,712 | = | 0.0% |
| Reserves | 13 | €10,310,571 | €10,181,228 | -€129,344 | -1.3% |
| Non-distributable reserves | 130/1 | €297,472 | €297,472 | = | 0.0% |
| Legal reserve | 130 | €297,472 | €297,472 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,228,763 | €1,099,420 | -€129,344 | -10.5% |
| Distributable reserves | 133 | €8,784,336 | €8,784,336 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€37,602,617 | -€37,780,991 | -€178,373 | -0.5% |
| Amounts payable | 17/49 | €17,786,913 | €17,543,044 | -€243,869 | -1.4% |
| Amounts payable after more than one year | 17 | €16,855,917 | €16,855,917 | = | 0.0% |
| Financial debts | 170/4 | €6,380,000 | €6,380,000 | = | 0.0% |
| Other amounts payable | 178/9 | €10,475,917 | €10,475,917 | = | 0.0% |
| Amounts payable within one year | 42/48 | €930,097 | €686,113 | -€243,984 | -26.2% |
| Trade debts | 44 | €117,655 | €103,480 | -€14,175 | -12.0% |
| Suppliers | 440/4 | €117,655 | €103,480 | -€14,175 | -12.0% |
| Taxes, remuneration and social security | 45 | €503 | €2,030 | +€1,527 | +303.8% |
| Taxes | 450/3 | €503 | €2,030 | +€1,527 | +303.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €811,940 | €580,603 | -€231,336 | -28.5% |
| Accrued charges and deferred income | 492/3 | €899 | €1,014 | +€115 | +12.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €240,842 | €276,597 | +€35,756 | +14.8% |
| Other operating charges | 640/8 | €176,074 | €172,986 | -€3,088 | -1.8% |
| Gross operating margin | 9900 | €197,628 | €167,511 | -€30,117 | -15.2% |
| Operating profit (loss) | 9901 | -€219,288 | -€282,072 | -€62,785 | -28.6% |
| Financial income | 75/76B | €155,051 | €283,067 | +€128,017 | +82.6% |
| Recurring financial income | 75 | €155,051 | €283,067 | +€128,017 | +82.6% |
| Financial charges | 65/66B | €440 | €308,371 | +€307,931 | +69954.1% |
| Recurring financial charges | 65 | €440 | €308,371 | +€307,931 | +69954.1% |
| Profit (loss) for the period before taxes | 9903 | -€64,677 | -€307,376 | -€242,699 | -375.2% |
| Income taxes | 67/77 | €157 | €341 | +€184 | +116.9% |
| Profit (loss) for the period | 9904 | -€64,834 | -€307,717 | -€242,882 | -374.6% |
| Transfer from tax-exempt reserves | 789 | €64,672 | €129,344 | +€64,672 | +100.0% |
| Transfer to tax-exempt reserves | 689 | €1,293,435 | €0 | -€1.3m | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,293,597 | -€178,373 | +€1.1m | +86.2% |
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.