FM DEVELOPPEMENT: 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 DEVELOPPEMENT
Largest movements
- Cash -€1.1m
down €1.1m (-89.8%), from €1.2m to €125,276
mainly Other debts (-€492,619) and Contributions, distributions and other (-€414,258)
- Tangible fixed assets +€159,783
up €159,783 (+101%), from €158,871 to €318,654
of which Other tangible fixed assets: +€120,673
- Receivables within one year -€104,426
down €104,426 (-8.4%), from €1.2m to €1.1m
of which Trade receivables: -€1.1m
- Other debts -€492,619
down €492,619 (-35.0%), from €1.4m to €914,288
- Profit (loss) carried forward -€418,774
down €418,774 (-63.4%), from €660,693 to €241,919
- Trade debts -€217,526
down €217,526 (-62.3%), from €349,270 to €131,744
- Contributions +€59,300
up €59,300 (+63.4%), from €93,592 to €152,892
- Tax, wage and social debts +€51,913
up €51,913 (+52.8%), from €98,250 to €150,163
of which Taxes: +€32,449
- Gross operating margin -€63,978
down €63,978 (-6.8%), from €940,888 to €876,909
- Staff costs +€60,948
up €60,948 (+10.0%), from €608,482 to €669,431
- Depreciation +€29,189
up €29,189 (+48.9%), from €59,647 to €88,836
- Financial income +€28,043
up €28,043 (+7,051%), from €398 to €28,441
- Financial charges -€18,802
down €18,802 (-41.7%), from €45,120 to €26,319
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 | €2,652,393 | €1,622,207 | -€1.0m | -38.8% |
| Fixed assets | 21/28 | €165,343 | €344,740 | +€179,397 | +108% |
| Intangible fixed assets | 21 | - | €19,614 | +€19,614 | |
| Tangible fixed assets | 22/27 | €158,871 | €318,654 | +€159,783 | +101% |
| Plant, machinery and equipment | 23 | €53,356 | €119,316 | +€65,959 | +124% |
| Furniture and vehicles | 24 | €66,647 | €39,798 | -€26,850 | -40.3% |
| Other tangible fixed assets | 26 | €38,867 | €159,540 | +€120,673 | +310% |
| Financial fixed assets | 28 | €6,472 | €6,472 | = | 0.0% |
| Current assets | 29/58 | €2,487,049 | €1,277,467 | -€1.2m | -48.6% |
| Amounts receivable within one year | 40/41 | €1,247,484 | €1,143,058 | -€104,426 | -8.4% |
| Trade receivables | 40 | €1,199,763 | €95,366 | -€1.1m | -92.1% |
| Other amounts receivable | 41 | €47,721 | €1,047,691 | +€999,970 | +2,095% |
| Cash at bank and in hand | 54/58 | €1,228,121 | €125,276 | -€1.1m | -89.8% |
| Deferred charges and accrued income | 490/1 | €11,444 | €9,134 | -€2,311 | -20.2% |
| Total equity and liabilities | 10/49 | €2,652,393 | €1,622,207 | -€1.0m | -38.8% |
| Equity | 10/15 | €756,144 | €407,509 | -€348,636 | -46.1% |
| Contributions | 10/11 | €93,592 | €152,892 | +€59,300 | +63.4% |
| Reserves | 13 | €1,859 | €12,698 | +€10,839 | +583% |
| Distributable reserves | 133 | €1,859 | €12,698 | +€10,839 | +583% |
| Profit (loss) carried forward | 14 | €660,693 | €241,919 | -€418,774 | -63.4% |
| Amounts payable | 17/49 | €1,896,248 | €1,214,698 | -€681,550 | -35.9% |
| Amounts payable after more than one year | 17 | €18,503 | €5,495 | -€13,008 | -70.3% |
| Financial debts | 170/4 | €18,503 | €5,495 | -€13,008 | -70.3% |
| Amounts payable within one year | 42/48 | €1,876,746 | €1,209,204 | -€667,542 | -35.6% |
| Current portion of amounts payable after more than one year | 42 | €22,318 | €13,008 | -€9,310 | -41.7% |
| Trade debts | 44 | €349,270 | €131,744 | -€217,526 | -62.3% |
| Suppliers | 440/4 | €349,270 | €131,744 | -€217,526 | -62.3% |
| Taxes, remuneration and social security | 45 | €98,250 | €150,163 | +€51,913 | +52.8% |
| Taxes | 450/3 | €35,589 | €68,038 | +€32,449 | +91.2% |
| Remuneration and social security | 454/9 | €62,661 | €82,126 | +€19,464 | +31.1% |
| Other amounts payable | 47/48 | €1,406,907 | €914,288 | -€492,619 | -35.0% |
| Accrued charges and deferred income | 492/3 | €1,000 | - | -€1,000 | |
| Remuneration, social security and pensions | 62 | €608,482 | €669,431 | +€60,948 | +10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,647 | €88,836 | +€29,189 | +48.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €750 | €16,109 | +€15,359 | +2,048% |
| Other operating charges | 640/8 | €14,560 | €10,113 | -€4,448 | -30.5% |
| Non-recurring operating charges | 66A | €19,138 | - | -€19,138 | |
| Gross operating margin | 9900 | €940,888 | €876,909 | -€63,978 | -6.8% |
| Operating profit (loss) | 9901 | €238,309 | €92,421 | -€145,888 | -61.2% |
| Financial income | 75/76B | €398 | €28,441 | +€28,043 | +7,051% |
| Recurring financial income | 75 | €398 | €28,441 | +€28,043 | +7,051% |
| Financial charges | 65/66B | €45,120 | €26,319 | -€18,802 | -41.7% |
| Recurring financial charges | 65 | €45,120 | €26,319 | -€18,802 | -41.7% |
| Profit (loss) for the period before taxes | 9903 | €193,587 | €94,543 | -€99,044 | -51.2% |
| Income taxes | 67/77 | €39,089 | €28,921 | -€10,168 | -26.0% |
| Profit (loss) for the period | 9904 | €154,498 | €65,622 | -€88,875 | -57.5% |
| Profit (loss) for the period to be appropriated | 9905 | €154,498 | €65,622 | -€88,875 | -57.5% |
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 29 October 2026 via checked.be.