FPMG: 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.
FPMG
Largest movements
- Tangible fixed assets +€137,203
up €137,203 (+406%), from €33,773 to €170,976
- Receivables within one year +€11,825
up €11,825 (+17.3%), from €68,184 to €80,009
of which Other amounts receivable: +€12,441
- Debts after one year +€107,183
new in 2025: €107,183
- Reserves +€15,822
up €15,822 (+18.9%), from €83,615 to €99,437
of which Distributable reserves: +€15,822
- Other debts +€11,393
up €11,393, from €0 to €11,393
- Tax, wage and social debts +€5,960
up €5,960 (+305%), from €1,956 to €7,915
- Current portion of long-term debt +€4,698
new in 2025: €4,698
- Gross operating margin +€17,443
up €17,443 (+87.0%), from €20,049 to €37,492
- Taxes +€4,004
up €4,004 (+205%), from €1,956 to €5,960
- Financial charges +€2,487
up €2,487 (+950%), from €262 to €2,749
- Other operating charges +€1,539
up €1,539 (+24.7%), from €6,227 to €7,766
- Depreciation -€1,329
down €1,329 (-20.4%), from €6,524 to €5,195
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 | €105,570 | €253,921 | +€148,351 | +141% |
| Fixed assets | 21/28 | €33,773 | €170,976 | +€137,203 | +406% |
| Tangible fixed assets | 22/27 | €33,773 | €170,976 | +€137,203 | +406% |
| Land and buildings | 22 | €33,773 | €170,976 | +€137,203 | +406% |
| Current assets | 29/58 | €71,797 | €82,945 | +€11,147 | +15.5% |
| Amounts receivable within one year | 40/41 | €68,184 | €80,009 | +€11,825 | +17.3% |
| Trade receivables | 40 | €616 | €0 | -€616 | -100% |
| Other amounts receivable | 41 | €67,568 | €80,009 | +€12,441 | +18.4% |
| Cash at bank and in hand | 54/58 | €3,613 | €2,936 | -€678 | -18.8% |
| Total equity and liabilities | 10/49 | €105,570 | €253,921 | +€148,351 | +141% |
| Equity | 10/15 | €103,615 | €119,437 | +€15,822 | +15.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €83,615 | €99,437 | +€15,822 | +18.9% |
| Non-distributable reserves | 130/1 | €3,237 | €3,237 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,237 | €3,237 | = | 0.0% |
| Tax-exempt reserves | 132 | €15,279 | €15,279 | = | 0.0% |
| Distributable reserves | 133 | €65,099 | €80,921 | +€15,822 | +24.3% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €1,956 | €134,484 | +€132,528 | +6,777% |
| Amounts payable after more than one year | 17 | - | €107,183 | +€107,183 | |
| Financial debts | 170/4 | - | €107,183 | +€107,183 | |
| Amounts payable within one year | 42/48 | €1,956 | €24,531 | +€22,575 | +1,154% |
| Current portion of amounts payable after more than one year | 42 | - | €4,698 | +€4,698 | |
| Trade debts | 44 | €0 | €525 | +€525 | |
| Suppliers | 440/4 | €0 | €525 | +€525 | |
| Taxes, remuneration and social security | 45 | €1,956 | €7,915 | +€5,960 | +305% |
| Taxes | 450/3 | €1,956 | €7,915 | +€5,960 | +305% |
| Other amounts payable | 47/48 | €0 | €11,393 | +€11,393 | |
| Accrued charges and deferred income | 492/3 | - | €2,770 | +€2,770 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,524 | €5,195 | -€1,329 | -20.4% |
| Other operating charges | 640/8 | €6,227 | €7,766 | +€1,539 | +24.7% |
| Gross operating margin | 9900 | €20,049 | €37,492 | +€17,443 | +87.0% |
| Operating profit (loss) | 9901 | €7,297 | €24,531 | +€17,234 | +236% |
| Financial charges | 65/66B | €262 | €2,749 | +€2,487 | +950% |
| Recurring financial charges | 65 | €262 | €2,749 | +€2,487 | +950% |
| Profit (loss) for the period before taxes | 9903 | €7,035 | €21,782 | +€14,746 | +210% |
| Income taxes | 67/77 | €1,956 | €5,960 | +€4,004 | +205% |
| Profit (loss) for the period | 9904 | €5,080 | €15,822 | +€10,742 | +211% |
| Profit (loss) for the period to be appropriated | 9905 | €5,080 | €15,822 | +€10,742 | +211% |
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 16 October 2026 via checked.be.