FSM.GROUP: 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.
FSM.GROUP
Largest movements
- Tangible fixed assets +€147,304
new in 2025: €147,304
of which Plant, machinery and equipment: +€91,666
- Cash +€32,102
up €32,102 (+28373.3%), from €113 to €32,215
mainly Depreciation (+€72,553) and Debts after one year (+€59,669)
- Receivables within one year +€8,133
up €8,133 (+150.9%), from €5,390 to €13,523
of which Other amounts receivable: +€12,433
- Financial fixed assets +€6,000
new in 2025: €6,000
- Stocks and contracts +€2,852
new in 2025: €2,852
- Debts after one year +€59,669
new in 2025: €59,669
- Other debts +€51,788
new in 2025: €51,788
- Profit (loss) carried forward +€39,073
up €39,073 (+202557.0%), from €19 to €39,093
- Trade debts +€23,386
up €23,386 (+4831.8%), from €484 to €23,870
- Current portion of long-term debt +€23,204
new in 2025: €23,204
- Gross operating margin +€109,953
up €109,953 (+2506.8%), from €4,386 to €114,339
- Depreciation +€72,553
new in 2025: €72,553
- Financial charges +€2,398
up €2,398 (+3074.9%), from €78 to €2,476
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 | €5,503 | €204,676 | +€199,173 | +3619.2% |
| Fixed assets | 21/28 | - | €153,304 | +€153,304 | |
| Tangible fixed assets | 22/27 | - | €147,304 | +€147,304 | |
| Plant, machinery and equipment | 23 | - | €91,666 | +€91,666 | |
| Leasing and similar rights | 25 | - | €47,162 | +€47,162 | |
| Other tangible fixed assets | 26 | - | €8,476 | +€8,476 | |
| Financial fixed assets | 28 | - | €6,000 | +€6,000 | |
| Current assets | 29/58 | €5,503 | €51,372 | +€45,869 | +833.5% |
| Stocks and contracts in progress | 3 | - | €2,852 | +€2,852 | |
| Stocks | 30/36 | - | €2,852 | +€2,852 | |
| Amounts receivable within one year | 40/41 | €5,390 | €13,523 | +€8,133 | +150.9% |
| Trade receivables | 40 | €4,300 | - | -€4,300 | |
| Other amounts receivable | 41 | €1,090 | €13,523 | +€12,433 | +1140.5% |
| Cash at bank and in hand | 54/58 | €113 | €32,215 | +€32,102 | +28373.3% |
| Deferred charges and accrued income | 490/1 | - | €2,782 | +€2,782 | |
| Total equity and liabilities | 10/49 | €5,503 | €204,676 | +€199,173 | +3619.2% |
| Equity | 10/15 | €5,019 | €44,093 | +€39,073 | +778.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19 | €39,093 | +€39,073 | +202557.0% |
| Amounts payable | 17/49 | €484 | €160,583 | +€160,099 | +33078.4% |
| Amounts payable after more than one year | 17 | - | €59,669 | +€59,669 | |
| Financial debts | 170/4 | - | €59,669 | +€59,669 | |
| Amounts payable within one year | 42/48 | €484 | €100,914 | +€100,430 | +20750.0% |
| Current portion of amounts payable after more than one year | 42 | - | €23,204 | +€23,204 | |
| Trade debts | 44 | €484 | €23,870 | +€23,386 | +4831.8% |
| Suppliers | 440/4 | €484 | €23,870 | +€23,386 | +4831.8% |
| Taxes, remuneration and social security | 45 | - | €2,052 | +€2,052 | |
| Taxes | 450/3 | - | €2,052 | +€2,052 | |
| Other amounts payable | 47/48 | - | €51,788 | +€51,788 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €72,553 | +€72,553 | |
| Other operating charges | 640/8 | - | €252 | +€252 | |
| Gross operating margin | 9900 | €4,386 | €114,339 | +€109,953 | +2506.8% |
| Operating profit (loss) | 9901 | €4,386 | €41,535 | +€37,148 | +846.9% |
| Financial income | 75/76B | - | €15 | +€15 | |
| Recurring financial income | 75 | - | €15 | +€15 | |
| Financial charges | 65/66B | €78 | €2,476 | +€2,398 | +3074.9% |
| Recurring financial charges | 65 | €78 | €2,476 | +€2,398 | +3074.9% |
| Profit (loss) for the period before taxes | 9903 | €4,308 | €39,073 | +€34,765 | +807.0% |
| Profit (loss) for the period | 9904 | €4,308 | €39,073 | +€34,765 | +807.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,308 | €39,073 | +€34,765 | +807.0% |
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 7 October 2026 via checked.be.