FM ELEC: what changed
FM ELEC
Largest movements
- Receivables within one year -€32,681
down €32,681 (-48.3%), from €67,650 to €34,969
of which Other amounts receivable: -€16,837
- Financial fixed assets +€21,441
new in 2025: €21,441
- Cash -€6,073
down €6,073 (-36.4%), from €16,662 to €10,589
mainly Investment in fixed assets (net) (-€25,391) and Trade debts (-€13,998)
- Tangible fixed assets +€3,533
up €3,533 (+299%), from €1,181 to €4,714
of which Assets under construction and advance payments: +€3,950
- Trade debts -€13,998
down €13,998 (-44.2%), from €31,680 to €17,683
- Profit (loss) carried forward +€3,800
up €3,800 (+9.1%), from €41,779 to €45,579
- Tax, wage and social debts -€3,580
down €3,580 (-58.0%), from €6,172 to €2,592
of which Remuneration and social security: -€1,800
- Gross operating margin -€29,048
down €29,048 (-81.4%), from €35,675 to €6,626
- Taxes -€5,616
down €5,616 (-80.3%), from €6,997 to €1,382
- Other operating charges +€567
up €567 (+578%), from €98 to €665
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €85,492 | €71,712 | -€13,779 | -16.1% |
| Fixed assets | 21/28 | €1,181 | €26,155 | +€24,974 | +2,115% |
| Tangible fixed assets | 22/27 | €1,181 | €4,714 | +€3,533 | +299% |
| Furniture and vehicles | 24 | €1,181 | €764 | -€417 | -35.3% |
| Assets under construction and advance payments | 27 | - | €3,950 | +€3,950 | |
| Financial fixed assets | 28 | - | €21,441 | +€21,441 | |
| Current assets | 29/58 | €84,311 | €45,558 | -€38,753 | -46.0% |
| Amounts receivable within one year | 40/41 | €67,650 | €34,969 | -€32,681 | -48.3% |
| Trade receivables | 40 | €29,201 | €13,357 | -€15,844 | -54.3% |
| Other amounts receivable | 41 | €38,449 | €21,612 | -€16,837 | -43.8% |
| Cash at bank and in hand | 54/58 | €16,662 | €10,589 | -€6,073 | -36.4% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €85,492 | €71,712 | -€13,779 | -16.1% |
| Equity | 10/15 | €46,779 | €50,579 | +€3,800 | +8.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €41,779 | €45,579 | +€3,800 | +9.1% |
| Amounts payable | 17/49 | €38,713 | €21,133 | -€17,580 | -45.4% |
| Amounts payable within one year | 42/48 | €38,713 | €21,133 | -€17,580 | -45.4% |
| Current portion of amounts payable after more than one year | 42 | €860 | €858 | -€2 | -0.3% |
| Trade debts | 44 | €31,680 | €17,683 | -€13,998 | -44.2% |
| Suppliers | 440/4 | €31,680 | €17,683 | -€13,998 | -44.2% |
| Taxes, remuneration and social security | 45 | €6,172 | €2,592 | -€3,580 | -58.0% |
| Taxes | 450/3 | €4,372 | €2,592 | -€1,780 | -40.7% |
| Remuneration and social security | 454/9 | €1,800 | €0 | -€1,800 | -100% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70 | €417 | +€347 | +498% |
| Other operating charges | 640/8 | €98 | €665 | +€567 | +578% |
| Gross operating margin | 9900 | €35,675 | €6,626 | -€29,048 | -81.4% |
| Operating profit (loss) | 9901 | €35,507 | €5,545 | -€29,962 | -84.4% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100% |
| Financial charges | 65/66B | €418 | €363 | -€55 | -13.2% |
| Recurring financial charges | 65 | €418 | €363 | -€55 | -13.2% |
| Profit (loss) for the period before taxes | 9903 | €35,089 | €5,182 | -€29,907 | -85.2% |
| Income taxes | 67/77 | €6,997 | €1,382 | -€5,616 | -80.3% |
| Profit (loss) for the period | 9904 | €28,092 | €3,800 | -€24,292 | -86.5% |
| Profit (loss) for the period to be appropriated | 9905 | €28,092 | €3,800 | -€24,292 | -86.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.