FMG: 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.
FMG
Largest movements
- Cash -€13,329
down €13,329 (-20.8%), from €64,157 to €50,828
mainly Contributions, distributions and other (-€8,848) and Tax, wage and social debts (-€5,607)
- Tangible fixed assets -€6,572
down €6,572 (-32.0%), from €20,512 to €13,940
of which Leasing and similar rights: -€5,069
- Intangible fixed assets -€5,000
down €5,000 (-33.3%), from €15,000 to €10,000
- Stocks and contracts -€1,846
down €1,846 (-31.6%), from €5,849 to €4,003
- Reserves -€8,848
down €8,848 (-13.4%), from €65,868 to €57,019
- Tax, wage and social debts -€5,607
down €5,607 (-77.5%), from €7,234 to €1,628
- Other debts -€5,294
down €5,294 (-36.9%), from €14,351 to €9,056
- Current portion of long-term debt -€5,223
no longer reported in 2025 (was €5,223)
- Profit (loss) carried forward -€3,815
new in 2025: -€3,815
- Gross operating margin -€11,965
down €11,965 (-54.1%), from €22,105 to €10,140
- Depreciation -€3,580
down €3,580 (-21.4%), from €16,744 to €13,164
- Taxes -€1,419
down €1,419 (-100.0%), from €1,419 to €0
- Financial charges -€317
down €317 (-60.8%), from €521 to €204
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 | €113,274 | €84,959 | -€28,315 | -25.0% |
| Fixed assets | 21/28 | €35,512 | €23,940 | -€11,572 | -32.6% |
| Intangible fixed assets | 21 | €15,000 | €10,000 | -€5,000 | -33.3% |
| Tangible fixed assets | 22/27 | €20,512 | €13,940 | -€6,572 | -32.0% |
| Plant, machinery and equipment | 23 | €4,864 | €2,851 | -€2,013 | -41.4% |
| Furniture and vehicles | 24 | €748 | €1,257 | +€510 | +68.2% |
| Leasing and similar rights | 25 | €14,901 | €9,832 | -€5,069 | -34.0% |
| Current assets | 29/58 | €77,762 | €61,018 | -€16,743 | -21.5% |
| Stocks and contracts in progress | 3 | €5,849 | €4,003 | -€1,846 | -31.6% |
| Stocks | 30/36 | €5,849 | €4,003 | -€1,846 | -31.6% |
| Amounts receivable within one year | 40/41 | €6,101 | €5,232 | -€868 | -14.2% |
| Trade receivables | 40 | €1,447 | €232 | -€1,215 | -83.9% |
| Other amounts receivable | 41 | €4,654 | €5,000 | +€346 | +7.4% |
| Cash at bank and in hand | 54/58 | €64,157 | €50,828 | -€13,329 | -20.8% |
| Deferred charges and accrued income | 490/1 | €1,655 | €955 | -€700 | -42.3% |
| Total equity and liabilities | 10/49 | €113,274 | €84,959 | -€28,315 | -25.0% |
| Equity | 10/15 | €84,468 | €71,805 | -€12,663 | -15.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €65,868 | €57,019 | -€8,848 | -13.4% |
| Distributable reserves | 133 | €65,868 | €57,019 | -€8,848 | -13.4% |
| Profit (loss) carried forward | 14 | - | -€3,815 | -€3,815 | |
| Amounts payable | 17/49 | €28,806 | €13,154 | -€15,652 | -54.3% |
| Amounts payable within one year | 42/48 | €28,806 | €13,154 | -€15,652 | -54.3% |
| Current portion of amounts payable after more than one year | 42 | €5,223 | - | -€5,223 | |
| Trade debts | 44 | €1,998 | €2,470 | +€472 | +23.6% |
| Suppliers | 440/4 | €1,998 | €2,470 | +€472 | +23.6% |
| Taxes, remuneration and social security | 45 | €7,234 | €1,628 | -€5,607 | -77.5% |
| Taxes | 450/3 | €7,234 | €1,628 | -€5,607 | -77.5% |
| Other amounts payable | 47/48 | €14,351 | €9,056 | -€5,294 | -36.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,744 | €13,164 | -€3,580 | -21.4% |
| Other operating charges | 640/8 | €597 | €629 | +€32 | +5.4% |
| Gross operating margin | 9900 | €22,105 | €10,140 | -€11,965 | -54.1% |
| Operating profit (loss) | 9901 | €4,764 | -€3,652 | -€8,417 | |
| Financial income | 75/76B | €37 | €42 | +€5 | +13.7% |
| Recurring financial income | 75 | €37 | €42 | +€5 | +13.7% |
| Financial charges | 65/66B | €521 | €204 | -€317 | -60.8% |
| Recurring financial charges | 65 | €521 | €204 | -€317 | -60.8% |
| Profit (loss) for the period before taxes | 9903 | €4,280 | -€3,815 | -€8,095 | |
| Income taxes | 67/77 | €1,419 | €0 | -€1,419 | -100.0% |
| Profit (loss) for the period | 9904 | €2,861 | -€3,815 | -€6,676 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,861 | -€3,815 | -€6,676 |
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 12 October 2026 via checked.be.