FM: 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.
FM
Largest movements
- Receivables within one year -€164,253
down €164,253 (-65.9%), from €249,178 to €84,925
- Tangible fixed assets -€18,724
down €18,724 (-4.1%), from €456,339 to €437,615
of which Land and buildings: -€17,154
- Other debts -€185,000
down €185,000 (-47.3%), from €391,089 to €206,089
- Debts after one year -€33,653
down €33,653 (-16.9%), from €198,890 to €165,237
- Current portion of long-term debt +€17,842
new in 2024: €17,842
- Trade debts +€16,936
up €16,936 (+406%), from €4,175 to €21,111
- Gross operating margin -€16,275
down €16,275 (-42.0%), from €38,742 to €22,467
- Taxes -€5,047
no longer reported in 2024 (was €5,047)
- Financial charges +€3,193
up €3,193 (+178%), from €1,798 to €4,991
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €713,102 | €526,207 | -€186,895 | -26.2% |
| Fixed assets | 21/28 | €456,339 | €437,615 | -€18,724 | -4.1% |
| Tangible fixed assets | 22/27 | €456,339 | €437,615 | -€18,724 | -4.1% |
| Land and buildings | 22 | €451,640 | €434,486 | -€17,154 | -3.8% |
| Plant, machinery and equipment | 23 | €4,699 | €3,129 | -€1,570 | -33.4% |
| Current assets | 29/58 | €256,763 | €88,592 | -€168,171 | -65.5% |
| Amounts receivable within one year | 40/41 | €249,178 | €84,925 | -€164,253 | -65.9% |
| Trade receivables | 40 | €249,178 | €84,925 | -€164,253 | -65.9% |
| Cash at bank and in hand | 54/58 | €7,585 | €3,668 | -€3,918 | -51.7% |
| Total equity and liabilities | 10/49 | €713,102 | €526,207 | -€186,895 | -26.2% |
| Equity | 10/15 | €105,925 | €102,377 | -€3,548 | -3.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €43,925 | €40,377 | -€3,548 | -8.1% |
| Distributable reserves | 133 | €43,925 | €40,377 | -€3,548 | -8.1% |
| Amounts payable | 17/49 | €607,177 | €423,830 | -€183,347 | -30.2% |
| Amounts payable after more than one year | 17 | €198,890 | €165,237 | -€33,653 | -16.9% |
| Financial debts | 170/4 | €198,890 | €165,237 | -€33,653 | -16.9% |
| Amounts payable within one year | 42/48 | €408,287 | €258,593 | -€149,694 | -36.7% |
| Current portion of amounts payable after more than one year | 42 | - | €17,842 | +€17,842 | |
| Trade debts | 44 | €4,175 | €21,111 | +€16,936 | +406% |
| Suppliers | 440/4 | €4,175 | €21,111 | +€16,936 | +406% |
| Taxes, remuneration and social security | 45 | €13,023 | €13,551 | +€528 | +4.1% |
| Taxes | 450/3 | €13,023 | €13,551 | +€528 | +4.1% |
| Other amounts payable | 47/48 | €391,089 | €206,089 | -€185,000 | -47.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,974 | €18,724 | -€250 | -1.3% |
| Other operating charges | 640/8 | €2,929 | €2,681 | -€248 | -8.5% |
| Gross operating margin | 9900 | €38,742 | €22,467 | -€16,275 | -42.0% |
| Operating profit (loss) | 9901 | €16,839 | €1,062 | -€15,777 | -93.7% |
| Financial income | 75/76B | - | €381 | +€381 | |
| Recurring financial income | 75 | - | €381 | +€381 | |
| Financial charges | 65/66B | €1,798 | €4,991 | +€3,193 | +178% |
| Recurring financial charges | 65 | €1,798 | €4,991 | +€3,193 | +178% |
| Profit (loss) for the period before taxes | 9903 | €15,041 | -€3,548 | -€18,589 | |
| Income taxes | 67/77 | €5,047 | - | -€5,047 | |
| Profit (loss) for the period | 9904 | €9,994 | -€3,548 | -€13,541 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,994 | -€3,548 | -€13,541 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.