FMD: 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.
FMD
Largest movements
- Cash -€29,530
down €29,530 (-63.1%), from €46,794 to €17,264
mainly Contributions, distributions and other (-€40,235) and Receivables within one year (-€11,602)
- Tangible fixed assets -€23,471
no longer reported in 2025 (was €23,471)
of which Furniture and vehicles: -€23,164
- Receivables within one year +€11,602
up €11,602 (+26670.5%), from €44 to €11,645
of which Other amounts receivable: +€11,645
- Reserves -€40,235
down €40,235 (-66.6%), from €60,382 to €20,147
- Other debts -€5,646
no longer reported in 2025 (was €5,646)
- Tax, wage and social debts +€3,986
up €3,986 (+161.1%), from €2,475 to €6,461
- Profit (loss) carried forward +€745
up €745 (+16.5%), from -€4,516 to -€3,772
- Financial income -€17,940
down €17,940 (-98.7%), from €18,175 to €235
of which Non-recurring financial income: -€18,105
- Depreciation -€9,524
down €9,524 (-96.9%), from €9,831 to €307
- Gross operating margin -€6,171
down €6,171 (-41.8%), from €14,761 to €8,590
- Other operating charges -€970
down €970 (-63.6%), from €1,525 to €555
- Financial charges -€341
down €341 (-89.4%), from €381 to €40
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 | €71,174 | €29,836 | -€41,338 | -58.1% |
| Fixed assets | 21/28 | €23,471 | - | -€23,471 | |
| Tangible fixed assets | 22/27 | €23,471 | - | -€23,471 | |
| Land and buildings | 22 | €307 | - | -€307 | |
| Furniture and vehicles | 24 | €23,164 | - | -€23,164 | |
| Current assets | 29/58 | €47,703 | €29,836 | -€17,867 | -37.5% |
| Amounts receivable within one year | 40/41 | €44 | €11,645 | +€11,602 | +26670.5% |
| Trade receivables | 40 | €44 | - | -€44 | |
| Other amounts receivable | 41 | - | €11,645 | +€11,645 | |
| Cash at bank and in hand | 54/58 | €46,794 | €17,264 | -€29,530 | -63.1% |
| Deferred charges and accrued income | 490/1 | €866 | €927 | +€61 | +7.0% |
| Total equity and liabilities | 10/49 | €71,174 | €29,836 | -€41,338 | -58.1% |
| Equity | 10/15 | €62,866 | €23,375 | -€39,490 | -62.8% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €60,382 | €20,147 | -€40,235 | -66.6% |
| Distributable reserves | 133 | €60,382 | €20,147 | -€40,235 | -66.6% |
| Profit (loss) carried forward | 14 | -€4,516 | -€3,772 | +€745 | +16.5% |
| Amounts payable | 17/49 | €8,309 | €6,461 | -€1,848 | -22.2% |
| Amounts payable within one year | 42/48 | €8,160 | €6,461 | -€1,699 | -20.8% |
| Trade debts | 44 | €39 | - | -€39 | |
| Suppliers | 440/4 | €39 | - | -€39 | |
| Taxes, remuneration and social security | 45 | €2,475 | €6,461 | +€3,986 | +161.1% |
| Taxes | 450/3 | €2,475 | €6,461 | +€3,986 | +161.1% |
| Other amounts payable | 47/48 | €5,646 | - | -€5,646 | |
| Accrued charges and deferred income | 492/3 | €148 | - | -€148 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,831 | €307 | -€9,524 | -96.9% |
| Other operating charges | 640/8 | €1,525 | €555 | -€970 | -63.6% |
| Non-recurring operating charges | 66A | - | €7,164 | +€7,164 | |
| Gross operating margin | 9900 | €14,761 | €8,590 | -€6,171 | -41.8% |
| Operating profit (loss) | 9901 | €3,405 | €564 | -€2,840 | -83.4% |
| Financial income | 75/76B | €18,175 | €235 | -€17,940 | -98.7% |
| Recurring financial income | 75 | €70 | €235 | +€165 | +237.4% |
| Non-recurring financial income | 76B | €18,105 | - | -€18,105 | |
| Financial charges | 65/66B | €381 | €40 | -€341 | -89.4% |
| Recurring financial charges | 65 | €381 | €40 | -€341 | -89.4% |
| Profit (loss) for the period before taxes | 9903 | €21,198 | €759 | -€20,439 | -96.4% |
| Income taxes | 67/77 | €198 | €14 | -€183 | -92.7% |
| Profit (loss) for the period | 9904 | €21,001 | €745 | -€20,256 | -96.5% |
| Profit (loss) for the period to be appropriated | 9905 | €21,001 | €745 | -€20,256 | -96.5% |
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 11 October 2026 via checked.be.