FISMIR: 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.
FISMIR
Largest movements
- Cash -€122,396
down €122,396 (-73.8%), from €165,836 to €43,440
mainly Investment in fixed assets (net) (-€151,199) and Contributions, distributions and other (-€17,833)
- Tangible fixed assets +€79,864
up €79,864 (+24.9%), from €320,806 to €400,670
of which Other tangible fixed assets: +€104,779
- Financial fixed assets +€16,239
up €16,239 (+22.1%), from €73,345 to €89,584
- Reserves -€16,132
down €16,132 (-6.9%), from €233,967 to €217,835
of which Distributable reserves: -€16,132
- Debts after one year -€13,114
down €13,114 (-7.2%), from €181,495 to €168,381
- Other debts +€10,279
up €10,279 (+786.2%), from €1,307 to €11,586
- Current portion of long-term debt -€6,020
down €6,020 (-31.5%), from €19,134 to €13,114
- Gross operating margin +€14,951
up €14,951 (+27.7%), from €54,060 to €69,012
- Depreciation -€13,790
down €13,790 (-20.0%), from €68,886 to €55,095
- Financial charges +€1,072
up €1,072 (+14.2%), from €7,562 to €8,634
- Financial income +€892
up €892 (+253.9%), from €352 to €1,244
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 | €562,497 | €539,839 | -€22,658 | -4.0% |
| Fixed assets | 21/28 | €394,151 | €490,254 | +€96,104 | +24.4% |
| Tangible fixed assets | 22/27 | €320,806 | €400,670 | +€79,864 | +24.9% |
| Land and buildings | 22 | €269,046 | €255,764 | -€13,282 | -4.9% |
| Plant, machinery and equipment | 23 | €1,870 | €1,658 | -€212 | -11.4% |
| Furniture and vehicles | 24 | €36,896 | €25,476 | -€11,421 | -31.0% |
| Other tangible fixed assets | 26 | €12,994 | €117,773 | +€104,779 | +806.4% |
| Financial fixed assets | 28 | €73,345 | €89,584 | +€16,239 | +22.1% |
| Current assets | 29/58 | €168,346 | €49,585 | -€118,761 | -70.5% |
| Amounts receivable within one year | 40/41 | €1,035 | €4,500 | +€3,465 | +334.9% |
| Other amounts receivable | 41 | €1,035 | €4,500 | +€3,465 | +334.9% |
| Cash at bank and in hand | 54/58 | €165,836 | €43,440 | -€122,396 | -73.8% |
| Deferred charges and accrued income | 490/1 | €1,476 | €1,645 | +€169 | +11.5% |
| Total equity and liabilities | 10/49 | €562,497 | €539,839 | -€22,658 | -4.0% |
| Equity | 10/15 | €357,378 | €341,247 | -€16,132 | -4.5% |
| Contributions | 10/11 | €123,411 | €123,411 | = | 0.0% |
| Reserves | 13 | €233,967 | €217,835 | -€16,132 | -6.9% |
| Tax-exempt reserves | 132 | €4,929 | €4,929 | = | 0.0% |
| Distributable reserves | 133 | €229,037 | €212,906 | -€16,132 | -7.0% |
| Provisions and deferred taxes | 16 | €1,232 | €1,232 | = | 0.0% |
| Deferred taxes | 168 | €1,232 | €1,232 | = | 0.0% |
| Amounts payable | 17/49 | €203,887 | €197,360 | -€6,526 | -3.2% |
| Amounts payable after more than one year | 17 | €181,495 | €168,381 | -€13,114 | -7.2% |
| Financial debts | 170/4 | €181,495 | €168,381 | -€13,114 | -7.2% |
| Amounts payable within one year | 42/48 | €21,826 | €27,518 | +€5,692 | +26.1% |
| Current portion of amounts payable after more than one year | 42 | €19,134 | €13,114 | -€6,020 | -31.5% |
| Trade debts | 44 | €262 | €1,698 | +€1,436 | +547.7% |
| Suppliers | 440/4 | €262 | €1,698 | +€1,436 | +547.7% |
| Taxes, remuneration and social security | 45 | €1,122 | €1,120 | -€2 | -0.2% |
| Taxes | 450/3 | €1,122 | €1,120 | -€2 | -0.2% |
| Other amounts payable | 47/48 | €1,307 | €11,586 | +€10,279 | +786.2% |
| Accrued charges and deferred income | 492/3 | €566 | €1,461 | +€895 | +158.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,886 | €55,095 | -€13,790 | -20.0% |
| Other operating charges | 640/8 | €4,133 | €4,132 | -€1 | 0.0% |
| Gross operating margin | 9900 | €54,060 | €69,012 | +€14,951 | +27.7% |
| Operating profit (loss) | 9901 | -€18,958 | €9,784 | +€28,743 | |
| Financial income | 75/76B | €352 | €1,244 | +€892 | +253.9% |
| Recurring financial income | 75 | €352 | €1,244 | +€892 | +253.9% |
| Financial charges | 65/66B | €7,562 | €8,634 | +€1,072 | +14.2% |
| Recurring financial charges | 65 | €7,562 | €8,634 | +€1,072 | +14.2% |
| Profit (loss) for the period before taxes | 9903 | -€26,169 | €2,395 | +€28,564 | |
| Income taxes | 67/77 | €518 | €693 | +€175 | +33.8% |
| Profit (loss) for the period | 9904 | -€26,687 | €1,701 | +€28,389 | |
| Profit (loss) for the period to be appropriated | 9905 | -€26,687 | €1,701 | +€28,389 |
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.