FMTR: 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.
FMTR
Largest movements
- Receivables within one year +€69,980
up €69,980 (+225.8%), from €30,987 to €100,967
of which Other amounts receivable: +€48,727
- Cash -€31,468
down €31,468 (-34.5%), from €91,197 to €59,729
mainly Receivables within one year (-€69,980) and Tax, wage and social debts (-€4,837)
- Trade debts +€19,783
up €19,783 (+412.7%), from €4,794 to €24,577
- Profit (loss) carried forward +€14,485
up €14,485 (+20.8%), from €69,711 to €84,196
- Accrued charges and deferred income +€6,217
new in 2025: €6,217
- Tax, wage and social debts -€4,837
down €4,837 (-53.1%), from €9,112 to €4,275
of which Remuneration and social security: -€8,804
- Other debts +€2,105
up €2,105 (+8.3%), from €25,333 to €27,439
- Gross operating margin -€31,006
down €31,006 (-61.9%), from €50,057 to €19,051
- Taxes -€6,019
down €6,019 (-60.3%), from €9,986 to €3,967
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 | €123,950 | €161,703 | +€37,754 | +30.5% |
| Fixed assets | 21/28 | €1,282 | €756 | -€526 | -41.0% |
| Tangible fixed assets | 22/27 | €1,282 | €756 | -€526 | -41.0% |
| Furniture and vehicles | 24 | €1,282 | €756 | -€526 | -41.0% |
| Current assets | 29/58 | €122,668 | €160,947 | +€38,279 | +31.2% |
| Amounts receivable within one year | 40/41 | €30,987 | €100,967 | +€69,980 | +225.8% |
| Trade receivables | 40 | €15,542 | €36,796 | +€21,254 | +136.7% |
| Other amounts receivable | 41 | €15,445 | €64,171 | +€48,727 | +315.5% |
| Cash at bank and in hand | 54/58 | €91,197 | €59,729 | -€31,468 | -34.5% |
| Deferred charges and accrued income | 490/1 | €484 | €251 | -€233 | -48.1% |
| Total equity and liabilities | 10/49 | €123,950 | €161,703 | +€37,754 | +30.5% |
| Equity | 10/15 | €84,711 | €99,196 | +€14,485 | +17.1% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €69,711 | €84,196 | +€14,485 | +20.8% |
| Amounts payable | 17/49 | €39,239 | €62,507 | +€23,268 | +59.3% |
| Amounts payable within one year | 42/48 | €39,239 | €56,290 | +€17,051 | +43.5% |
| Trade debts | 44 | €4,794 | €24,577 | +€19,783 | +412.7% |
| Suppliers | 440/4 | €4,794 | €24,577 | +€19,783 | +412.7% |
| Taxes, remuneration and social security | 45 | €9,112 | €4,275 | -€4,837 | -53.1% |
| Taxes | 450/3 | - | €3,967 | +€3,967 | |
| Remuneration and social security | 454/9 | €9,112 | €308 | -€8,804 | -96.6% |
| Other amounts payable | 47/48 | €25,333 | €27,439 | +€2,105 | +8.3% |
| Accrued charges and deferred income | 492/3 | - | €6,217 | +€6,217 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €526 | €526 | = | 0.0% |
| Gross operating margin | 9900 | €50,057 | €19,051 | -€31,006 | -61.9% |
| Operating profit (loss) | 9901 | €49,532 | €18,525 | -€31,006 | -62.6% |
| Financial income | 75/76B | €52 | €0 | -€52 | -100.0% |
| Recurring financial income | 75 | €52 | €0 | -€52 | -100.0% |
| Financial charges | 65/66B | €135 | €73 | -€62 | -46.0% |
| Recurring financial charges | 65 | €135 | €73 | -€62 | -46.0% |
| Profit (loss) for the period before taxes | 9903 | €49,449 | €18,452 | -€30,997 | -62.7% |
| Income taxes | 67/77 | €9,986 | €3,967 | -€6,019 | -60.3% |
| Profit (loss) for the period | 9904 | €39,463 | €14,485 | -€24,978 | -63.3% |
| Profit (loss) for the period to be appropriated | 9905 | €39,463 | €14,485 | -€24,978 | -63.3% |
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 9 October 2026 via checked.be.