FJESTUM: 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.
FJESTUM
Largest movements
- Tangible fixed assets -€115,874
down €115,874 (-42.3%), from €273,616 to €157,741
of which Plant, machinery and equipment: -€100,594
- Cash +€112,092
up €112,092 (+286%), from €39,183 to €151,275
mainly Net result for the year (+€87,057) and Investment in fixed assets (net) (+€74,120)
- Receivables within one year +€16,532
up €16,532 (+12.6%), from €131,208 to €147,740
of which Other amounts receivable: +€10,284
- Deferred charges and accrued income +€6,646
up €6,646 (+78.1%), from €8,515 to €15,162
- Reserves +€87,057
up €87,057 (+91,823%), from €95 to €87,152
- Tax, wage and social debts -€27,945
down €27,945 (-75.8%), from €36,847 to €8,902
of which Taxes: -€17,572
- Trade debts -€27,369
down €27,369 (-37.7%), from €72,613 to €45,244
- Current portion of long-term debt -€13,107
down €13,107 (-52.4%), from €25,005 to €11,899
- Other debts +€12,304
up €12,304 (+6.3%), from €194,786 to €207,090
- Staff costs -€68,734
down €68,734 (-27.1%), from €253,780 to €185,046
- Taxes +€39,123
up €39,123 (+1,434%), from €2,728 to €41,851
- Depreciation -€30,205
down €30,205 (-42.0%), from €71,959 to €41,754
- Gross operating margin -€16,322
down €16,322 (-4.4%), from €371,944 to €355,622
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 | €453,562 | €472,958 | +€19,396 | +4.3% |
| Fixed assets | 21/28 | €274,656 | €158,781 | -€115,874 | -42.2% |
| Tangible fixed assets | 22/27 | €273,616 | €157,741 | -€115,874 | -42.3% |
| Land and buildings | 22 | €13,444 | €13,118 | -€326 | -2.4% |
| Plant, machinery and equipment | 23 | €233,689 | €133,095 | -€100,594 | -43.0% |
| Furniture and vehicles | 24 | €21,582 | €11,529 | -€10,054 | -46.6% |
| Leasing and similar rights | 25 | €4,900 | - | -€4,900 | |
| Financial fixed assets | 28 | €1,040 | €1,040 | = | 0.0% |
| Current assets | 29/58 | €178,906 | €314,176 | +€135,270 | +75.6% |
| Amounts receivable within one year | 40/41 | €131,208 | €147,740 | +€16,532 | +12.6% |
| Trade receivables | 40 | €124,819 | €131,068 | +€6,248 | +5.0% |
| Other amounts receivable | 41 | €6,388 | €16,673 | +€10,284 | +161% |
| Cash at bank and in hand | 54/58 | €39,183 | €151,275 | +€112,092 | +286% |
| Deferred charges and accrued income | 490/1 | €8,515 | €15,162 | +€6,646 | +78.1% |
| Total equity and liabilities | 10/49 | €453,562 | €472,958 | +€19,396 | +4.3% |
| Equity | 10/15 | €81,241 | €168,298 | +€87,057 | +107% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €95 | €87,152 | +€87,057 | +91,823% |
| Distributable reserves | 133 | €95 | €87,152 | +€87,057 | +91,823% |
| Profit (loss) carried forward | 14 | €62,546 | €62,546 | = | 0.0% |
| Amounts payable | 17/49 | €372,321 | €304,660 | -€67,661 | -18.2% |
| Amounts payable after more than one year | 17 | €39,410 | €27,512 | -€11,899 | -30.2% |
| Financial debts | 170/4 | €39,410 | €27,512 | -€11,899 | -30.2% |
| Amounts payable within one year | 42/48 | €332,600 | €276,483 | -€56,117 | -16.9% |
| Current portion of amounts payable after more than one year | 42 | €25,005 | €11,899 | -€13,107 | -52.4% |
| Financial debts | 43 | €3,348 | €3,348 | = | 0.0% |
| Credit institutions | 430/8 | €3,348 | €3,348 | = | 0.0% |
| Trade debts | 44 | €72,613 | €45,244 | -€27,369 | -37.7% |
| Suppliers | 440/4 | €72,613 | €45,244 | -€27,369 | -37.7% |
| Taxes, remuneration and social security | 45 | €36,847 | €8,902 | -€27,945 | -75.8% |
| Taxes | 450/3 | €19,502 | €1,930 | -€17,572 | -90.1% |
| Remuneration and social security | 454/9 | €17,345 | €6,973 | -€10,373 | -59.8% |
| Other amounts payable | 47/48 | €194,786 | €207,090 | +€12,304 | +6.3% |
| Accrued charges and deferred income | 492/3 | €311 | €665 | +€354 | +114% |
| Remuneration, social security and pensions | 62 | €253,780 | €185,046 | -€68,734 | -27.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,959 | €41,754 | -€30,205 | -42.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €497 | +€497 | |
| Other operating charges | 640/8 | €1,987 | €1,389 | -€598 | -30.1% |
| Non-recurring operating charges | 66A | €58 | - | -€58 | |
| Gross operating margin | 9900 | €371,944 | €355,622 | -€16,322 | -4.4% |
| Operating profit (loss) | 9901 | €44,160 | €126,936 | +€82,776 | +187% |
| Financial income | 75/76B | €1,404 | €4,807 | +€3,403 | +242% |
| Recurring financial income | 75 | €1,404 | €4,807 | +€3,403 | +242% |
| Financial charges | 65/66B | €4,467 | €2,835 | -€1,633 | -36.6% |
| Recurring financial charges | 65 | €4,467 | €2,835 | -€1,633 | -36.6% |
| Profit (loss) for the period before taxes | 9903 | €41,097 | €128,908 | +€87,812 | +214% |
| Income taxes | 67/77 | €2,728 | €41,851 | +€39,123 | +1,434% |
| Profit (loss) for the period | 9904 | €38,368 | €87,057 | +€48,689 | +127% |
| Profit (loss) for the period to be appropriated | 9905 | €38,368 | €87,057 | +€48,689 | +127% |
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 23 October 2026 via checked.be.