FMSM CAPITAL: 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.
FMSM CAPITAL
Largest movements
- Receivables after one year +€93,969
up €93,969 (+39.1%), from €240,264 to €334,233
- Cash +€30,051
up €30,051 (+71.8%), from €41,876 to €71,927
mainly Net result for the year (+€114,016) and Tax, wage and social debts (+€19,994)
- Tangible fixed assets +€19,208
new in 2025: €19,208
- Current investments -€9,000
no longer reported in 2025 (was €9,000)
- Profit (loss) carried forward +€114,016
up €114,016 (+54.0%), from €211,107 to €325,123
- Tax, wage and social debts +€19,994
up €19,994 (+35.1%), from €56,936 to €76,930
- Debts after one year -€11,153
no longer reported in 2025 (was €11,153)
- Other debts +€10,800
new in 2025: €10,800
- Gross operating margin +€5,437
up €5,437 (+3.9%), from €138,514 to €143,951
- Financial charges -€3,644
down €3,644 (-72.6%), from €5,016 to €1,373
- Financial income +€2,039
up €2,039 (+26.9%), from €7,572 to €9,611
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 | €293,914 | €425,368 | +€131,454 | +44.7% |
| Formation expenses | 20 | €224 | - | -€224 | |
| Fixed assets | 21/28 | - | €19,208 | +€19,208 | |
| Tangible fixed assets | 22/27 | - | €19,208 | +€19,208 | |
| Furniture and vehicles | 24 | - | €19,208 | +€19,208 | |
| Current assets | 29/58 | €293,690 | €406,160 | +€112,470 | +38.3% |
| Amounts receivable after more than one year | 29 | €240,264 | €334,233 | +€93,969 | +39.1% |
| Trade receivables | 290 | €240,264 | €334,233 | +€93,969 | +39.1% |
| Amounts receivable within one year | 40/41 | €2,550 | - | -€2,550 | |
| Trade receivables | 40 | €1,846 | - | -€1,846 | |
| Other amounts receivable | 41 | €704 | - | -€704 | |
| Current investments | 50/53 | €9,000 | - | -€9,000 | |
| Cash at bank and in hand | 54/58 | €41,876 | €71,927 | +€30,051 | +71.8% |
| Total equity and liabilities | 10/49 | €293,914 | €425,368 | +€131,454 | +44.7% |
| Equity | 10/15 | €212,107 | €326,123 | +€114,016 | +53.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €211,107 | €325,123 | +€114,016 | +54.0% |
| Amounts payable | 17/49 | €81,807 | €99,245 | +€17,438 | +21.3% |
| Amounts payable after more than one year | 17 | €11,153 | - | -€11,153 | |
| Financial debts | 170/4 | €11,153 | - | -€11,153 | |
| Amounts payable within one year | 42/48 | €70,654 | €99,245 | +€28,591 | +40.5% |
| Current portion of amounts payable after more than one year | 42 | €10,612 | €11,153 | +€542 | +5.1% |
| Trade debts | 44 | €3,107 | €361 | -€2,745 | -88.4% |
| Suppliers | 440/4 | €3,107 | €361 | -€2,745 | -88.4% |
| Taxes, remuneration and social security | 45 | €56,936 | €76,930 | +€19,994 | +35.1% |
| Taxes | 450/3 | €56,936 | €76,930 | +€19,994 | +35.1% |
| Other amounts payable | 47/48 | - | €10,800 | +€10,800 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €268 | €1,515 | +€1,248 | +466% |
| Other operating charges | 640/8 | €673 | €936 | +€264 | +39.2% |
| Gross operating margin | 9900 | €138,514 | €143,951 | +€5,437 | +3.9% |
| Operating profit (loss) | 9901 | €137,574 | €141,499 | +€3,925 | +2.9% |
| Financial income | 75/76B | €7,572 | €9,611 | +€2,039 | +26.9% |
| Recurring financial income | 75 | €7,572 | €9,611 | +€2,039 | +26.9% |
| Financial charges | 65/66B | €5,016 | €1,373 | -€3,644 | -72.6% |
| Recurring financial charges | 65 | €5,016 | €1,373 | -€3,644 | -72.6% |
| Profit (loss) for the period before taxes | 9903 | €140,129 | €149,737 | +€9,608 | +6.9% |
| Income taxes | 67/77 | €35,274 | €35,721 | +€447 | +1.3% |
| Profit (loss) for the period | 9904 | €104,855 | €114,016 | +€9,161 | +8.7% |
| Profit (loss) for the period to be appropriated | 9905 | €104,855 | €114,016 | +€9,161 | +8.7% |
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 13 October 2026 via checked.be.