FIMODEX: 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.
FIMODEX
Largest movements
- Intangible fixed assets +€279,948
new in 2025: €279,948
- Receivables within one year +€59,806
up €59,806 (+25.8%), from €231,871 to €291,677
of which Other amounts receivable: +€38,448
- Cash -€24,018
down €24,018 (-54.2%), from €44,294 to €20,276
mainly Investment in fixed assets (net) (-€326,976) and Receivables within one year (-€59,806)
- Reserves +€332,345
up €332,345 (+7661.0%), from €4,338 to €336,683
of which Distributable reserves: +€332,345
- Profit (loss) carried forward -€261,096
no longer reported in 2025 (was €261,096)
- Debts after one year +€226,801
up €226,801 (+487.3%), from €46,539 to €273,340
- Trade debts -€26,627
down €26,627 (-22.0%), from €120,796 to €94,169
- Current portion of long-term debt +€18,759
up €18,759 (+35.9%), from €52,296 to €71,055
- Financial income +€79,581
up €79,581 (+1744.3%), from €4,562 to €84,143
- Gross operating margin -€38,993
down €38,993 (-20.8%), from €187,533 to €148,540
- Depreciation +€37,746
up €37,746 (+210.8%), from €17,905 to €55,651
- Taxes -€15,923
down €15,923 (-69.0%), from €23,085 to €7,162
- Staff costs -€14,287
down €14,287 (-16.1%), from €88,755 to €74,468
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 | €608,669 | €914,562 | +€305,893 | +50.3% |
| Fixed assets | 21/28 | €329,801 | €601,126 | +€271,325 | +82.3% |
| Intangible fixed assets | 21 | - | €279,948 | +€279,948 | |
| Tangible fixed assets | 22/27 | €102,989 | €94,366 | -€8,623 | -8.4% |
| Land and buildings | 22 | €1,692 | €423 | -€1,269 | -75.0% |
| Furniture and vehicles | 24 | €389 | €128 | -€261 | -67.1% |
| Other tangible fixed assets | 26 | €100,908 | €93,815 | -€7,093 | -7.0% |
| Financial fixed assets | 28 | €226,812 | €226,812 | +€0 | 0.0% |
| Current assets | 29/58 | €278,868 | €313,436 | +€34,568 | +12.4% |
| Amounts receivable within one year | 40/41 | €231,871 | €291,677 | +€59,806 | +25.8% |
| Trade receivables | 40 | €210,300 | €231,657 | +€21,357 | +10.2% |
| Other amounts receivable | 41 | €21,572 | €60,020 | +€38,448 | +178.2% |
| Cash at bank and in hand | 54/58 | €44,294 | €20,276 | -€24,018 | -54.2% |
| Deferred charges and accrued income | 490/1 | €2,702 | €1,483 | -€1,219 | -45.1% |
| Total equity and liabilities | 10/49 | €608,669 | €914,562 | +€305,893 | +50.3% |
| Equity | 10/15 | €284,026 | €355,275 | +€71,249 | +25.1% |
| Contributions | 10/11 | €18,592 | €18,592 | -€0 | 0.0% |
| Reserves | 13 | €4,338 | €336,683 | +€332,345 | +7661.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | -€0 | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | -€0 | 0.0% |
| Tax-exempt reserves | 132 | €2,479 | €2,479 | +€0 | 0.0% |
| Distributable reserves | 133 | - | €332,345 | +€332,345 | |
| Profit (loss) carried forward | 14 | €261,096 | - | -€261,096 | |
| Amounts payable | 17/49 | €324,643 | €559,287 | +€234,644 | +72.3% |
| Amounts payable after more than one year | 17 | €46,539 | €273,340 | +€226,801 | +487.3% |
| Financial debts | 170/4 | €46,539 | €273,340 | +€226,801 | +487.3% |
| Amounts payable within one year | 42/48 | €275,604 | €285,947 | +€10,343 | +3.8% |
| Current portion of amounts payable after more than one year | 42 | €52,296 | €71,055 | +€18,759 | +35.9% |
| Trade debts | 44 | €120,796 | €94,169 | -€26,627 | -22.0% |
| Suppliers | 440/4 | €120,796 | €94,169 | -€26,627 | -22.0% |
| Taxes, remuneration and social security | 45 | €36,791 | €52,534 | +€15,743 | +42.8% |
| Taxes | 450/3 | €26,599 | €34,536 | +€7,937 | +29.8% |
| Remuneration and social security | 454/9 | €10,192 | €17,998 | +€7,806 | +76.6% |
| Other amounts payable | 47/48 | €65,720 | €68,189 | +€2,469 | +3.8% |
| Accrued charges and deferred income | 492/3 | €2,500 | - | -€2,500 | |
| Remuneration, social security and pensions | 62 | €88,755 | €74,468 | -€14,287 | -16.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,905 | €55,651 | +€37,746 | +210.8% |
| Other operating charges | 640/8 | €3,855 | €11,644 | +€7,789 | +202.1% |
| Gross operating margin | 9900 | €187,533 | €148,540 | -€38,993 | -20.8% |
| Operating profit (loss) | 9901 | €77,018 | €6,777 | -€70,241 | -91.2% |
| Financial income | 75/76B | €4,562 | €84,143 | +€79,581 | +1744.3% |
| Recurring financial income | 75 | €4,562 | €84,143 | +€79,581 | +1744.3% |
| Financial charges | 65/66B | €5,427 | €12,509 | +€7,082 | +130.5% |
| Recurring financial charges | 65 | €5,427 | €12,509 | +€7,082 | +130.5% |
| Profit (loss) for the period before taxes | 9903 | €76,153 | €78,411 | +€2,258 | +3.0% |
| Income taxes | 67/77 | €23,085 | €7,162 | -€15,923 | -69.0% |
| Profit (loss) for the period | 9904 | €53,068 | €71,249 | +€18,181 | +34.3% |
| Profit (loss) for the period to be appropriated | 9905 | €53,068 | €71,249 | +€18,181 | +34.3% |
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 11 October 2026 via checked.be.