FMIF: 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.
What changed
FMIF
NACE 68.110, Buying and selling of own real estate
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€22,601
2024 · -€65,497+€88,098
Equity
€3.4m
2024 · €3.3m+€122,601
Cash
€34,483
2024 · €53,706-€19,222
Balance sheet total
€5.6m
2024 · €5.4m+€137,612
Largest movements
Assets
- Receivables within one year +€183,333
up €183,333 (+333.6%), from €54,958 to €238,291
of which Other amounts receivable: +€152,890
Equity and liabilities
- Contributions +€100,000
up €100,000 (+3.2%), from €3.1m to €3.2m
Income statement
- Gross operating margin +€70,875
up €70,875 (+67.5%), from €104,979 to €175,855
- Financial charges -€14,672
down €14,672 (-21.2%), from €69,047 to €54,375
- Financial income +€5,566
up €5,566 (+83196.0%), from €7 to €5,573
- Depreciation +€3,522
up €3,522 (+5.3%), from €65,934 to €69,456
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.
Result 2024
-€65,497
Gross operating margin
+€70,875
Staff costs
+€919
Depreciation
-€3,522
Other operating charges
-€412
Financial income
+€5,566
Financial charges
+€14,672
Taxes
-€0
Result 2025
€22,601
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.
From operations
-€60,300
Investment
-€56,085
Financing
+€97,163
Cash 2024
€53,706
From operations (derived)
-€60,300
Net result for the year
+€22,601
Depreciation
+€69,456
Receivables within one year
-€183,333
Deferred charges and accrued income
+€13,128
Trade debts
-€7,616
Tax, wage and social debts
-€5,844
Other debts
+€31,309
Investment (derived)
-€56,085
Investment in fixed assets (net)
-€56,085
Financing
+€97,163
Debts after one year
+€50,000
Current portion of long-term debt
-€52,837
Contributions, distributions and other
+€100,000
Cash 2025
€34,483
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,419,076 | €5,556,688 | +€137,612 | +2.5% |
| Fixed assets | 21/28 | €5,290,465 | €5,277,094 | -€13,371 | -0.3% |
| Tangible fixed assets | 22/27 | €4,490,465 | €4,477,094 | -€13,371 | -0.3% |
| Land and buildings | 22 | €4,486,316 | €4,472,195 | -€14,121 | -0.3% |
| Plant, machinery and equipment | 23 | €3,850 | €2,316 | -€1,535 | -39.9% |
| Furniture and vehicles | 24 | €299 | €2,583 | +€2,284 | +764.2% |
| Financial fixed assets | 28 | €800,000 | €800,000 | = | 0.0% |
| Current assets | 29/58 | €128,612 | €279,595 | +€150,983 | +117.4% |
| Amounts receivable within one year | 40/41 | €54,958 | €238,291 | +€183,333 | +333.6% |
| Trade receivables | 40 | €48,527 | €78,970 | +€30,444 | +62.7% |
| Other amounts receivable | 41 | €6,431 | €159,321 | +€152,890 | +2377.3% |
| Cash at bank and in hand | 54/58 | €53,706 | €34,483 | -€19,222 | -35.8% |
| Deferred charges and accrued income | 490/1 | €19,948 | €6,820 | -€13,128 | -65.8% |
| Total equity and liabilities | 10/49 | €5,419,076 | €5,556,688 | +€137,612 | +2.5% |
| Equity | 10/15 | €3,250,716 | €3,373,317 | +€122,601 | +3.8% |
| Contributions | 10/11 | €3,138,600 | €3,238,600 | +€100,000 | +3.2% |
| Outside capital | 11 | €3,138,600 | - | -€3.1m | |
| Share premium | 1100/10 | €3,138,600 | - | -€3.1m | |
| Reserves | 13 | €112,116 | €134,717 | +€22,601 | +20.2% |
| Non-distributable reserves | 130/1 | €9,328 | - | -€9,328 | |
| Legal reserve | 130 | €9,328 | - | -€9,328 | |
| Distributable reserves | 133 | €102,788 | €134,717 | +€31,929 | +31.1% |
| Amounts payable | 17/49 | €2,168,360 | €2,183,371 | +€15,011 | +0.7% |
| Amounts payable after more than one year | 17 | €2,077,953 | €2,127,953 | +€50,000 | +2.4% |
| Financial debts | 170/4 | €2,077,953 | €2,127,953 | +€50,000 | +2.4% |
| Amounts payable within one year | 42/48 | €90,407 | €55,418 | -€34,989 | -38.7% |
| Current portion of amounts payable after more than one year | 42 | €52,837 | - | -€52,837 | |
| Trade debts | 44 | €24,520 | €16,904 | -€7,616 | -31.1% |
| Suppliers | 440/4 | €24,520 | €16,904 | -€7,616 | -31.1% |
| Taxes, remuneration and social security | 45 | €12,274 | €6,430 | -€5,844 | -47.6% |
| Taxes | 450/3 | €12,274 | €6,430 | -€5,844 | -47.6% |
| Other amounts payable | 47/48 | €775 | €32,084 | +€31,309 | +4039.9% |
| Non-recurring operating income | 76A | - | €30,879 | +€30,879 | |
| Remuneration, social security and pensions | 62 | €919 | - | -€919 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,934 | €69,456 | +€3,522 | +5.3% |
| Other operating charges | 640/8 | €34,582 | €34,994 | +€412 | +1.2% |
| Gross operating margin | 9900 | €104,979 | €175,855 | +€70,875 | +67.5% |
| Operating profit (loss) | 9901 | €3,544 | €71,404 | +€67,860 | +1914.7% |
| Financial income | 75/76B | €7 | €5,573 | +€5,566 | +83196.0% |
| Recurring financial income | 75 | €7 | €5,573 | +€5,566 | +83196.0% |
| Financial charges | 65/66B | €69,047 | €54,375 | -€14,672 | -21.2% |
| Recurring financial charges | 65 | €69,047 | €54,375 | -€14,672 | -21.2% |
| Profit (loss) for the period before taxes | 9903 | -€65,496 | €22,602 | +€88,098 | |
| Income taxes | 67/77 | €0 | €1 | +€0 | +80.6% |
| Profit (loss) for the period | 9904 | -€65,497 | €22,601 | +€88,098 | |
| Profit (loss) for the period to be appropriated | 9905 | -€65,497 | €22,601 | +€88,098 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.