FIMUKO: what changed
FIMUKO
Largest movements
- Receivables within one year +€95,319
up €95,319 (+174%), from €54,736 to €150,055
of which Trade receivables: +€79,689
- Cash -€30,739
down €30,739 (-56.5%), from €54,442 to €23,703
mainly Receivables within one year (-€95,319) and Investment in fixed assets (net) (-€7,500)
- Tangible fixed assets -€9,720
down €9,720 (-42.3%), from €23,004 to €13,285
- Intangible fixed assets +€7,500
new in 2025: €7,500
- Profit (loss) carried forward +€62,572
up €62,572 (+135,614%), from €46 to €62,618
- Trade debts -€4,571
down €4,571 (-37.4%), from €12,236 to €7,665
- Tax, wage and social debts +€4,360
up €4,360 (+18.1%), from €24,100 to €28,460
- Gross operating margin +€17,027
up €17,027 (+12.6%), from €134,727 to €151,754
- Write-downs +€16,699
up €16,699 (+76.2%), from €21,910 to €38,609
- Taxes +€15,198
up €15,198 (+264%), from €5,756 to €20,954
- Staff costs +€8,954
up €8,954 (+88.8%), from €10,088 to €19,042
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €134,881 | €197,242 | +€62,361 | +46.2% |
| Fixed assets | 21/28 | €25,704 | €23,484 | -€2,220 | -8.6% |
| Intangible fixed assets | 21 | - | €7,500 | +€7,500 | |
| Tangible fixed assets | 22/27 | €23,004 | €13,285 | -€9,720 | -42.3% |
| Furniture and vehicles | 24 | €23,004 | €13,285 | -€9,720 | -42.3% |
| Financial fixed assets | 28 | €2,700 | €2,700 | = | 0.0% |
| Current assets | 29/58 | €109,178 | €173,758 | +€64,580 | +59.2% |
| Amounts receivable within one year | 40/41 | €54,736 | €150,055 | +€95,319 | +174% |
| Trade receivables | 40 | €44,668 | €124,357 | +€79,689 | +178% |
| Other amounts receivable | 41 | €10,068 | €25,698 | +€15,630 | +155% |
| Cash at bank and in hand | 54/58 | €54,442 | €23,703 | -€30,739 | -56.5% |
| Total equity and liabilities | 10/49 | €134,881 | €197,242 | +€62,361 | +46.2% |
| Equity | 10/15 | €86,506 | €149,078 | +€62,572 | +72.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €67,860 | €67,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €66,000 | €66,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46 | €62,618 | +€62,572 | +135,614% |
| Amounts payable | 17/49 | €48,375 | €48,164 | -€212 | -0.4% |
| Amounts payable within one year | 42/48 | €36,337 | €36,125 | -€212 | -0.6% |
| Trade debts | 44 | €12,236 | €7,665 | -€4,571 | -37.4% |
| Suppliers | 440/4 | €12,236 | €7,665 | -€4,571 | -37.4% |
| Taxes, remuneration and social security | 45 | €24,100 | €28,460 | +€4,360 | +18.1% |
| Taxes | 450/3 | €24,100 | €28,460 | +€4,360 | +18.1% |
| Accrued charges and deferred income | 492/3 | €12,039 | €12,039 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €10,088 | €19,042 | +€8,954 | +88.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,720 | €9,720 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €21,910 | €38,609 | +€16,699 | +76.2% |
| Other operating charges | 640/8 | €451 | €460 | +€9 | +2.0% |
| Non-recurring operating charges | 66A | €5,420 | - | -€5,420 | |
| Gross operating margin | 9900 | €134,727 | €151,754 | +€17,027 | +12.6% |
| Operating profit (loss) | 9901 | €87,139 | €83,923 | -€3,216 | -3.7% |
| Financial income | 75/76B | €81 | - | -€81 | |
| Recurring financial income | 75 | €81 | - | -€81 | |
| Financial charges | 65/66B | €1,476 | €397 | -€1,079 | -73.1% |
| Recurring financial charges | 65 | €1,476 | €397 | -€1,079 | -73.1% |
| Profit (loss) for the period before taxes | 9903 | €85,744 | €83,526 | -€2,218 | -2.6% |
| Income taxes | 67/77 | €5,756 | €20,954 | +€15,198 | +264% |
| Profit (loss) for the period | 9904 | €79,988 | €62,572 | -€17,416 | -21.8% |
| Profit (loss) for the period to be appropriated | 9905 | €79,988 | €62,572 | -€17,416 | -21.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.