FMI: what changed
Two fiscal 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.
FMI
Largest movements
- Tangible fixed assets -€36,323
down €36,323 (-4.7%), from €774,019 to €737,696
of which Plant, machinery and equipment: -€19,267
- Debts after one year -€46,879
down €46,879 (-7.8%), from €601,207 to €554,328
of which Financial debts: -€56,879
- Current portion of long-term debt +€15,987
up €15,987 (+26.8%), from €59,709 to €75,696
- Accrued charges and deferred income +€11,559
new in 2025: €11,559
- Tax, wage and social debts -€10,175
down €10,175 (-60.8%), from €16,726 to €6,550
- Gross operating margin -€16,593
down €16,593 (-21.6%), from €76,710 to €60,116
- Taxes -€4,543
down €4,543 (-80.7%), from €5,627 to €1,084
- Depreciation +€2,161
up €2,161 (+6.3%), from €34,162 to €36,323
- Other operating charges -€1,381
down €1,381 (-24.4%), from €5,665 to €4,285
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 | €778,639 | €746,129 | -€32,509 | -4.2% |
| Fixed assets | 21/28 | €775,069 | €738,746 | -€36,323 | -4.7% |
| Tangible fixed assets | 22/27 | €774,019 | €737,696 | -€36,323 | -4.7% |
| Land and buildings | 22 | €615,776 | €598,720 | -€17,056 | -2.8% |
| Plant, machinery and equipment | 23 | €158,243 | €138,976 | -€19,267 | -12.2% |
| Financial fixed assets | 28 | €1,050 | €1,050 | = | 0.0% |
| Current assets | 29/58 | €3,570 | €7,384 | +€3,814 | +106.8% |
| Cash at bank and in hand | 54/58 | €3,325 | €7,384 | +€4,059 | +122.1% |
| Deferred charges and accrued income | 490/1 | €245 | - | -€245 | |
| Total equity and liabilities | 10/49 | €778,639 | €746,129 | -€32,509 | -4.2% |
| Equity | 10/15 | €94,653 | €97,029 | +€2,377 | +2.5% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €74,248 | €76,624 | +€2,377 | +3.2% |
| Amounts payable | 17/49 | €683,986 | €649,100 | -€34,886 | -5.1% |
| Amounts payable after more than one year | 17 | €601,207 | €554,328 | -€46,879 | -7.8% |
| Financial debts | 170/4 | €490,952 | €434,073 | -€56,879 | -11.6% |
| Other amounts payable | 178/9 | €110,255 | €120,255 | +€10,000 | +9.1% |
| Amounts payable within one year | 42/48 | €82,779 | €83,214 | +€435 | +0.5% |
| Current portion of amounts payable after more than one year | 42 | €59,709 | €75,696 | +€15,987 | +26.8% |
| Trade debts | 44 | €6,344 | €968 | -€5,376 | -84.7% |
| Suppliers | 440/4 | €6,344 | €968 | -€5,376 | -84.7% |
| Taxes, remuneration and social security | 45 | €16,726 | €6,550 | -€10,175 | -60.8% |
| Taxes | 450/3 | €16,726 | €6,550 | -€10,175 | -60.8% |
| Accrued charges and deferred income | 492/3 | - | €11,559 | +€11,559 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,162 | €36,323 | +€2,161 | +6.3% |
| Other operating charges | 640/8 | €5,665 | €4,285 | -€1,381 | -24.4% |
| Gross operating margin | 9900 | €76,710 | €60,116 | -€16,593 | -21.6% |
| Operating profit (loss) | 9901 | €36,883 | €19,509 | -€17,374 | -47.1% |
| Financial charges | 65/66B | €16,233 | €16,048 | -€185 | -1.1% |
| Recurring financial charges | 65 | €16,233 | €16,048 | -€185 | -1.1% |
| Profit (loss) for the period before taxes | 9903 | €20,649 | €3,460 | -€17,189 | -83.2% |
| Income taxes | 67/77 | €5,627 | €1,084 | -€4,543 | -80.7% |
| Profit (loss) for the period | 9904 | €15,022 | €2,377 | -€12,646 | -84.2% |
| Profit (loss) for the period to be appropriated | 9905 | €15,022 | €2,377 | -€12,646 | -84.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.