FM HOTEL: 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.
What changed
FM HOTEL
NACE 55.100, Hotels and similar accommodation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€112,589
2024 · €200,545-€87,956
Equity
€1.9m
2024 · €1.9m+€67,652
Cash
€266,666
2024 · €257,473+€9,192
Balance sheet total
€6.6m
2024 · €4.3m+€2.3m
Largest movements
Assets
- Tangible fixed assets +€2.3m
up €2.3m (+57.8%), from €3.9m to €6.2m
of which Land and buildings: +€1.9m
Equity and liabilities
- Debts after one year +€1.8m
up €1.8m (+106%), from €1.7m to €3.5m
of which Other amounts payable: +€2.0m
- Trade debts +€376,775
up €376,775 (+144%), from €261,917 to €638,691
- Reserves +€112,589
up €112,589 (+12.3%), from €915,207 to €1.0m
of which Distributable reserves: +€112,589
- Tax, wage and social debts +€97,179
up €97,179 (+121%), from €80,077 to €177,256
of which Remuneration and social security: +€91,484
Income statement
- Gross operating margin +€354,088
up €354,088 (+22.9%), from €1.5m to €1.9m
- Staff costs +€349,174
up €349,174 (+42.5%), from €821,137 to €1.2m
- Depreciation +€65,718
up €65,718 (+21.5%), from €305,505 to €371,223
- Financial charges +€40,213
up €40,213 (+22.8%), from €176,591 to €216,804
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.
Result 2024
€200,545
Gross operating margin
+€354,088
Staff costs
-€349,174
Depreciation
-€65,718
Write-downs
+€11,925
Other operating charges
-€5,289
Other operating items
-€268
Financial income
-€9,010
Financial charges
-€40,213
Taxes
+€15,704
Result 2025
€112,589
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€946,510
Investment
-€2.6m
Financing
+€1.7m
Cash 2024
€257,473
From operations (derived)
+€946,510
Net result for the year
+€112,589
Depreciation
+€371,223
Smaller working-capital items
+€26
Receivables within one year
-€34,330
Deferred charges and accrued income
-€33,033
Trade debts
+€376,775
Tax, wage and social debts
+€97,179
Other debts
+€13,174
Accrued charges and deferred income
+€42,908
Investment (derived)
-€2.6m
Investment in fixed assets (net)
-€2.6m
Financing
+€1.7m
Debts after one year
+€1.8m
Current portion of long-term debt
-€43,214
Contributions, distributions and other
-€44,937
Cash 2025
€266,666
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,258,403 | €6,594,149 | +€2.3m | +54.9% |
| Fixed assets | 21/28 | €3,908,482 | €6,167,275 | +€2.3m | +57.8% |
| Tangible fixed assets | 22/27 | €3,908,107 | €6,166,900 | +€2.3m | +57.8% |
| Land and buildings | 22 | €3,547,653 | €5,449,617 | +€1.9m | +53.6% |
| Plant, machinery and equipment | 23 | €218,706 | €259,518 | +€40,812 | +18.7% |
| Furniture and vehicles | 24 | €141,748 | €457,764 | +€316,016 | +223% |
| Financial fixed assets | 28 | €375 | €375 | = | 0.0% |
| Current assets | 29/58 | €349,921 | €426,875 | +€76,954 | +22.0% |
| Stocks and contracts in progress | 3 | €12,439 | €12,837 | +€398 | +3.2% |
| Stocks | 30/36 | €12,439 | €12,837 | +€398 | +3.2% |
| Amounts receivable within one year | 40/41 | €56,380 | €90,710 | +€34,330 | +60.9% |
| Trade receivables | 40 | €2,830 | €20,461 | +€17,631 | +623% |
| Other amounts receivable | 41 | €53,550 | €70,249 | +€16,699 | +31.2% |
| Cash at bank and in hand | 54/58 | €257,473 | €266,666 | +€9,192 | +3.6% |
| Deferred charges and accrued income | 490/1 | €23,629 | €56,662 | +€33,033 | +140% |
| Total equity and liabilities | 10/49 | €4,258,403 | €6,594,149 | +€2.3m | +54.9% |
| Equity | 10/15 | €1,873,554 | €1,941,206 | +€67,652 | +3.6% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €915,207 | €1,027,796 | +€112,589 | +12.3% |
| Non-distributable reserves | 130/1 | €30,000 | €30,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €30,000 | €30,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €208,891 | €208,891 | = | 0.0% |
| Distributable reserves | 133 | €676,316 | €788,905 | +€112,589 | +16.6% |
| Investment grants | 15 | €558,347 | €513,409 | -€44,937 | -8.0% |
| Amounts payable | 17/49 | €2,384,849 | €4,652,944 | +€2.3m | +95.1% |
| Amounts payable after more than one year | 17 | €1,676,488 | €3,457,337 | +€1.8m | +106% |
| Financial debts | 170/4 | €621,824 | €421,195 | -€200,628 | -32.3% |
| Other amounts payable | 178/9 | €1,054,664 | €3,036,141 | +€2.0m | +188% |
| Amounts payable within one year | 42/48 | €656,696 | €1,101,033 | +€444,338 | +67.7% |
| Current portion of amounts payable after more than one year | 42 | €243,842 | €200,628 | -€43,214 | -17.7% |
| Trade debts | 44 | €261,917 | €638,691 | +€376,775 | +144% |
| Suppliers | 440/4 | €261,917 | €638,691 | +€376,775 | +144% |
| Advances received on contracts in progress | 46 | €17,841 | €18,266 | +€424 | +2.4% |
| Taxes, remuneration and social security | 45 | €80,077 | €177,256 | +€97,179 | +121% |
| Taxes | 450/3 | €445 | €6,140 | +€5,695 | +1,280% |
| Remuneration and social security | 454/9 | €79,632 | €171,116 | +€91,484 | +115% |
| Other amounts payable | 47/48 | €53,018 | €66,192 | +€13,174 | +24.8% |
| Accrued charges and deferred income | 492/3 | €51,665 | €94,574 | +€42,908 | +83.1% |
| Non-recurring operating income | 76A | €2,023 | €1,180 | -€843 | -41.7% |
| Remuneration, social security and pensions | 62 | €821,137 | €1,170,311 | +€349,174 | +42.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €305,505 | €371,223 | +€65,718 | +21.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,560 | -€7,364 | -€11,925 | |
| Other operating charges | 640/8 | €78,903 | €84,192 | +€5,289 | +6.7% |
| Non-recurring operating charges | 66A | - | €268 | +€268 | |
| Gross operating margin | 9900 | €1,549,186 | €1,903,274 | +€354,088 | +22.9% |
| Operating profit (loss) | 9901 | €339,080 | €284,643 | -€54,437 | -16.1% |
| Financial income | 75/76B | €56,154 | €47,144 | -€9,010 | -16.0% |
| Recurring financial income | 75 | €56,154 | €47,144 | -€9,010 | -16.0% |
| Financial charges | 65/66B | €176,591 | €216,804 | +€40,213 | +22.8% |
| Recurring financial charges | 65 | €176,591 | €216,804 | +€40,213 | +22.8% |
| Profit (loss) for the period before taxes | 9903 | €218,643 | €114,984 | -€103,660 | -47.4% |
| Income taxes | 67/77 | €18,098 | €2,394 | -€15,704 | -86.8% |
| Profit (loss) for the period | 9904 | €200,545 | €112,589 | -€87,956 | -43.9% |
| Profit (loss) for the period to be appropriated | 9905 | €200,545 | €112,589 | -€87,956 | -43.9% |
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 26 October 2026 via checked.be.