FM PRODUCT: 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 PRODUCT
Largest movements
- Tangible fixed assets +€270,085
up €270,085 (+344%), from €78,502 to €348,587
of which Furniture and vehicles: +€271,108
- Receivables within one year +€193,515
up €193,515 (+206%), from €94,057 to €287,572
of which Trade receivables: +€189,142
- Cash -€118,733
down €118,733 (-65.2%), from €182,124 to €63,391
mainly Investment in fixed assets (net) (-€323,383) and Receivables within one year (-€193,515)
- Stocks and contracts +€36,960
up €36,960 (+85.3%), from €43,329 to €80,289
- Debts after one year +€290,870
up €290,870 (+191%), from €152,351 to €443,221
- Trade debts +€62,891
up €62,891 (+69.6%), from €90,389 to €153,280
- Current portion of long-term debt +€30,198
up €30,198 (+53.9%), from €56,007 to €86,206
- Depreciation +€18,696
up €18,696 (+54.0%), from €34,601 to €53,298
- Financial charges +€4,679
up €4,679 (+40.1%), from €11,657 to €16,336
- Taxes -€4,255
down €4,255 (-74.1%), from €5,745 to €1,491
- Other operating charges -€3,311
down €3,311 (-35.9%), from €9,228 to €5,916
- Gross operating margin -€1,022
down €1,022 (-1.3%), from €81,638 to €80,616
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 | €413,192 | €797,258 | +€384,066 | +93.0% |
| Fixed assets | 21/28 | €80,452 | €350,537 | +€270,085 | +336% |
| Tangible fixed assets | 22/27 | €78,502 | €348,587 | +€270,085 | +344% |
| Land and buildings | 22 | €4,123 | €2,914 | -€1,210 | -29.3% |
| Plant, machinery and equipment | 23 | €1,361 | €307 | -€1,054 | -77.4% |
| Furniture and vehicles | 24 | €70,652 | €341,760 | +€271,108 | +384% |
| Other tangible fixed assets | 26 | €2,366 | €3,606 | +€1,240 | +52.4% |
| Financial fixed assets | 28 | €1,950 | €1,950 | = | 0.0% |
| Current assets | 29/58 | €332,740 | €446,721 | +€113,981 | +34.3% |
| Stocks and contracts in progress | 3 | €43,329 | €80,289 | +€36,960 | +85.3% |
| Stocks | 30/36 | €43,329 | €80,289 | +€36,960 | +85.3% |
| Amounts receivable within one year | 40/41 | €94,057 | €287,572 | +€193,515 | +206% |
| Trade receivables | 40 | €84,803 | €273,945 | +€189,142 | +223% |
| Other amounts receivable | 41 | €9,255 | €13,627 | +€4,372 | +47.2% |
| Cash at bank and in hand | 54/58 | €182,124 | €63,391 | -€118,733 | -65.2% |
| Deferred charges and accrued income | 490/1 | €13,230 | €15,469 | +€2,239 | +16.9% |
| Total equity and liabilities | 10/49 | €413,192 | €797,258 | +€384,066 | +93.0% |
| Equity | 10/15 | €52,051 | €55,685 | +€3,634 | +7.0% |
| Reserves | 13 | €52,051 | €55,685 | +€3,634 | +7.0% |
| Distributable reserves | 133 | €52,051 | €55,685 | +€3,634 | +7.0% |
| Amounts payable | 17/49 | €361,142 | €741,573 | +€380,432 | +105% |
| Amounts payable after more than one year | 17 | €152,351 | €443,221 | +€290,870 | +191% |
| Financial debts | 170/4 | €152,351 | €443,221 | +€290,870 | +191% |
| Amounts payable within one year | 42/48 | €208,791 | €298,353 | +€89,561 | +42.9% |
| Current portion of amounts payable after more than one year | 42 | €56,007 | €86,206 | +€30,198 | +53.9% |
| Financial debts | 43 | €15,000 | €15,000 | = | 0.0% |
| Other loans | 439 | €15,000 | €15,000 | = | 0.0% |
| Trade debts | 44 | €90,389 | €153,280 | +€62,891 | +69.6% |
| Suppliers | 440/4 | €90,389 | €153,280 | +€62,891 | +69.6% |
| Taxes, remuneration and social security | 45 | €34,602 | €37,725 | +€3,123 | +9.0% |
| Taxes | 450/3 | €34,602 | €37,725 | +€3,123 | +9.0% |
| Other amounts payable | 47/48 | €12,793 | €6,142 | -€6,651 | -52.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,601 | €53,298 | +€18,696 | +54.0% |
| Other operating charges | 640/8 | €9,228 | €5,916 | -€3,311 | -35.9% |
| Gross operating margin | 9900 | €81,638 | €80,616 | -€1,022 | -1.3% |
| Operating profit (loss) | 9901 | €37,809 | €21,402 | -€16,407 | -43.4% |
| Financial income | 75/76B | €608 | €59 | -€549 | -90.3% |
| Recurring financial income | 75 | €608 | €59 | -€549 | -90.3% |
| Financial charges | 65/66B | €11,657 | €16,336 | +€4,679 | +40.1% |
| Recurring financial charges | 65 | €11,657 | €16,336 | +€4,679 | +40.1% |
| Profit (loss) for the period before taxes | 9903 | €26,760 | €5,125 | -€21,635 | -80.8% |
| Income taxes | 67/77 | €5,745 | €1,491 | -€4,255 | -74.1% |
| Profit (loss) for the period | 9904 | €21,015 | €3,634 | -€17,381 | -82.7% |
| Profit (loss) for the period to be appropriated | 9905 | €21,015 | €3,634 | -€17,381 | -82.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.