FM: 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.
FM
Largest movements
- Tangible fixed assets +€9,232
up €9,232 (+61.0%), from €15,128 to €24,360
of which Furniture and vehicles: +€10,468
- Receivables within one year +€7,955
up €7,955 (+2517.4%), from €316 to €8,271
of which Trade receivables: +€8,109
- Cash -€2,247
down €2,247 (-86.2%), from €2,607 to €360
mainly Investment in fixed assets (net) (-€16,305) and Receivables within one year (-€7,955)
- Deferred charges and accrued income +€1,451
up €1,451 (+150.4%), from €965 to €2,416
- Stocks and contracts +€1,166
up €1,166 (+51.6%), from €2,260 to €3,426
- Other debts +€10,475
up €10,475 (+28.3%), from €37,006 to €47,481
- Tax, wage and social debts +€7,340
up €7,340 (+61.1%), from €12,007 to €19,347
of which Remuneration and social security: +€6,673
- Profit (loss) carried forward -€6,902
down €6,902 (-10.2%), from -€67,506 to -€74,408
- Trade debts +€6,644
up €6,644 (+34.3%), from €19,359 to €26,003
- Staff costs +€20,990
up €20,990 (+27.5%), from €76,323 to €97,313
- Gross operating margin -€6,566
down €6,566 (-6.2%), from €106,558 to €99,992
- Depreciation +€5,246
up €5,246 (+287.1%), from €1,827 to €7,073
- Other operating charges -€2,189
down €2,189 (-60.1%), from €3,644 to €1,455
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 | €21,326 | €38,883 | +€17,557 | +82.3% |
| Fixed assets | 21/28 | €15,178 | €24,410 | +€9,232 | +60.8% |
| Tangible fixed assets | 22/27 | €15,128 | €24,360 | +€9,232 | +61.0% |
| Plant, machinery and equipment | 23 | €740 | €1,183 | +€443 | +59.9% |
| Furniture and vehicles | 24 | €515 | €10,983 | +€10,468 | +2032.6% |
| Other tangible fixed assets | 26 | €13,873 | €12,194 | -€1,679 | -12.1% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €6,148 | €14,473 | +€8,325 | +135.4% |
| Stocks and contracts in progress | 3 | €2,260 | €3,426 | +€1,166 | +51.6% |
| Stocks | 30/36 | €2,260 | €3,426 | +€1,166 | +51.6% |
| Amounts receivable within one year | 40/41 | €316 | €8,271 | +€7,955 | +2517.4% |
| Trade receivables | 40 | €162 | €8,271 | +€8,109 | +5005.6% |
| Other amounts receivable | 41 | €154 | - | -€154 | |
| Cash at bank and in hand | 54/58 | €2,607 | €360 | -€2,247 | -86.2% |
| Deferred charges and accrued income | 490/1 | €965 | €2,416 | +€1,451 | +150.4% |
| Total equity and liabilities | 10/49 | €21,326 | €38,883 | +€17,557 | +82.3% |
| Equity | 10/15 | -€47,046 | -€53,948 | -€6,902 | -14.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 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% |
| Profit (loss) carried forward | 14 | -€67,506 | -€74,408 | -€6,902 | -10.2% |
| Amounts payable | 17/49 | €68,372 | €92,831 | +€24,459 | +35.8% |
| Amounts payable within one year | 42/48 | €68,372 | €92,831 | +€24,459 | +35.8% |
| Trade debts | 44 | €19,359 | €26,003 | +€6,644 | +34.3% |
| Suppliers | 440/4 | €19,359 | €26,003 | +€6,644 | +34.3% |
| Taxes, remuneration and social security | 45 | €12,007 | €19,347 | +€7,340 | +61.1% |
| Taxes | 450/3 | €955 | €1,622 | +€667 | +69.8% |
| Remuneration and social security | 454/9 | €11,052 | €17,725 | +€6,673 | +60.4% |
| Other amounts payable | 47/48 | €37,006 | €47,481 | +€10,475 | +28.3% |
| Remuneration, social security and pensions | 62 | €76,323 | €97,313 | +€20,990 | +27.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,827 | €7,073 | +€5,246 | +287.1% |
| Other operating charges | 640/8 | €3,644 | €1,455 | -€2,189 | -60.1% |
| Gross operating margin | 9900 | €106,558 | €99,992 | -€6,566 | -6.2% |
| Operating profit (loss) | 9901 | €24,764 | -€5,849 | -€30,613 | |
| Financial income | 75/76B | €11 | €11 | = | 0.0% |
| Recurring financial income | 75 | €11 | €11 | = | 0.0% |
| Financial charges | 65/66B | €910 | €775 | -€135 | -14.8% |
| Recurring financial charges | 65 | €910 | €775 | -€135 | -14.8% |
| Profit (loss) for the period before taxes | 9903 | €23,865 | -€6,613 | -€30,478 | |
| Income taxes | 67/77 | €335 | €289 | -€46 | -13.7% |
| Profit (loss) for the period | 9904 | €23,530 | -€6,902 | -€30,432 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,530 | -€6,902 | -€30,432 |
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 29 September 2026 via checked.be.