FMI: 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.
FMI
Largest movements
- Cash -€106,764
down €106,764 (-37.3%), from €286,225 to €179,461
mainly Other debts (-€207,066) and Tax, wage and social debts (-€32,527)
- Tangible fixed assets -€78,791
down €78,791 (-1.3%), from €6.2m to €6.1m
- Reserves -€2.0m
down €2.0m (-50.0%), from €4.0m to €2.0m
of which Distributable reserves: -€2.0m
- Profit (loss) carried forward +€2.0m
up €2.0m (+404%), from €487,226 to €2.5m
- Other debts -€207,066
down €207,066 (-10.4%), from €2.0m to €1.8m
- Trade debts +€70,953
up €70,953 (+565%), from €12,569 to €83,522
- Gross operating margin -€73,968
down €73,968 (-52.7%), from €140,368 to €66,400
- Other operating charges -€59,847
down €59,847 (-75.9%), from €78,899 to €19,053
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 | €6,534,288 | €6,334,054 | -€200,234 | -3.1% |
| Fixed assets | 21/28 | €6,230,511 | €6,151,720 | -€78,791 | -1.3% |
| Tangible fixed assets | 22/27 | €6,227,511 | €6,148,720 | -€78,791 | -1.3% |
| Land and buildings | 22 | €6,227,511 | €6,148,720 | -€78,791 | -1.3% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €303,777 | €182,333 | -€121,443 | -40.0% |
| Amounts receivable within one year | 40/41 | €17,552 | €2,872 | -€14,680 | -83.6% |
| Trade receivables | 40 | €17,552 | - | -€17,552 | |
| Other amounts receivable | 41 | - | €2,872 | +€2,872 | |
| Cash at bank and in hand | 54/58 | €286,225 | €179,461 | -€106,764 | -37.3% |
| Total equity and liabilities | 10/49 | €6,534,288 | €6,334,054 | -€200,234 | -3.1% |
| Equity | 10/15 | €4,501,486 | €4,469,892 | -€31,594 | -0.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €4,001,860 | €2,001,860 | -€2.0m | -50.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €4,000,000 | €2,000,000 | -€2.0m | -50.0% |
| Profit (loss) carried forward | 14 | €487,226 | €2,455,632 | +€2.0m | +404% |
| Amounts payable | 17/49 | €2,032,802 | €1,864,162 | -€168,640 | -8.3% |
| Amounts payable within one year | 42/48 | €2,032,802 | €1,864,162 | -€168,640 | -8.3% |
| Trade debts | 44 | €12,569 | €83,522 | +€70,953 | +565% |
| Suppliers | 440/4 | €12,569 | €83,522 | +€70,953 | +565% |
| Taxes, remuneration and social security | 45 | €32,527 | - | -€32,527 | |
| Taxes | 450/3 | €32,527 | - | -€32,527 | |
| Other amounts payable | 47/48 | €1,987,706 | €1,780,640 | -€207,066 | -10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,440 | €78,791 | -€649 | -0.8% |
| Other operating charges | 640/8 | €78,899 | €19,053 | -€59,847 | -75.9% |
| Gross operating margin | 9900 | €140,368 | €66,400 | -€73,968 | -52.7% |
| Operating profit (loss) | 9901 | -€17,971 | -€31,443 | -€13,472 | -75.0% |
| Financial income | 75/76B | €11 | - | -€11 | |
| Recurring financial income | 75 | €11 | - | -€11 | |
| Financial charges | 65/66B | €152 | €151 | -€2 | -1.2% |
| Recurring financial charges | 65 | €152 | €151 | -€2 | -1.2% |
| Profit (loss) for the period before taxes | 9903 | -€18,112 | -€31,594 | -€13,481 | -74.4% |
| Income taxes | 67/77 | €132 | - | -€132 | |
| Profit (loss) for the period | 9904 | -€18,244 | -€31,594 | -€13,350 | -73.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,244 | -€31,594 | -€13,350 | -73.2% |
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 19 October 2026 via checked.be.