FUMAS: 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.
FUMAS
Largest movements
- Cash +€84,133
up €84,133 (+42.3%), from €199,074 to €283,207
mainly Net result for the year (+€197,098) and Other debts (+€102,021)
- Tangible fixed assets +€59,370
up €59,370 (+125.7%), from €47,222 to €106,592
of which Furniture and vehicles: +€60,801
- Other debts +€102,021
up €102,021 (+210.2%), from €48,544 to €150,565
- Reserves +€33,436
up €33,436 (+4.1%), from €809,697 to €843,132
- Tax, wage and social debts +€11,976
up €11,976 (+23.5%), from €50,980 to €62,956
- Gross operating margin +€20,623
up €20,623 (+7.4%), from €280,102 to €300,725
- Depreciation +€8,650
up €8,650 (+112.1%), from €7,715 to €16,366
- Taxes +€7,176
up €7,176 (+8.0%), from €89,588 to €96,763
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 | €909,679 | €1,057,230 | +€147,551 | +16.2% |
| Fixed assets | 21/28 | €47,472 | €106,592 | +€59,120 | +124.5% |
| Tangible fixed assets | 22/27 | €47,222 | €106,592 | +€59,370 | +125.7% |
| Plant, machinery and equipment | 23 | €7,465 | €6,105 | -€1,360 | -18.2% |
| Furniture and vehicles | 24 | €12,372 | €73,173 | +€60,801 | +491.5% |
| Other tangible fixed assets | 26 | €27,385 | €27,314 | -€71 | -0.3% |
| Financial fixed assets | 28 | €250 | €0 | -€250 | -100.0% |
| Current assets | 29/58 | €862,207 | €950,638 | +€88,431 | +10.3% |
| Amounts receivable after more than one year | 29 | €600,000 | €600,000 | = | 0.0% |
| Other amounts receivable | 291 | €600,000 | €600,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €2,879 | €0 | -€2,879 | -100.0% |
| Stocks | 30/36 | €2,879 | €0 | -€2,879 | -100.0% |
| Amounts receivable within one year | 40/41 | €42,776 | €48,245 | +€5,469 | +12.8% |
| Trade receivables | 40 | €42,775 | €48,245 | +€5,470 | +12.8% |
| Other amounts receivable | 41 | €1 | €0 | -€1 | -100.0% |
| Cash at bank and in hand | 54/58 | €199,074 | €283,207 | +€84,133 | +42.3% |
| Deferred charges and accrued income | 490/1 | €17,479 | €19,186 | +€1,707 | +9.8% |
| Total equity and liabilities | 10/49 | €909,679 | €1,057,230 | +€147,551 | +16.2% |
| Equity | 10/15 | €809,697 | €843,132 | +€33,436 | +4.1% |
| Reserves | 13 | €809,697 | €843,132 | +€33,436 | +4.1% |
| Distributable reserves | 133 | €809,697 | €843,132 | +€33,436 | +4.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €99,982 | €214,097 | +€114,115 | +114.1% |
| Amounts payable within one year | 42/48 | €99,982 | €214,097 | +€114,115 | +114.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €96 | €0 | -€96 | -100.0% |
| Credit institutions | 430/8 | €96 | €0 | -€96 | -100.0% |
| Trade debts | 44 | €363 | €577 | +€214 | +59.0% |
| Suppliers | 440/4 | €363 | €577 | +€214 | +59.0% |
| Taxes, remuneration and social security | 45 | €50,980 | €62,956 | +€11,976 | +23.5% |
| Taxes | 450/3 | €50,980 | €62,956 | +€11,976 | +23.5% |
| Other amounts payable | 47/48 | €48,544 | €150,565 | +€102,021 | +210.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €9,450 | €0 | -€9,450 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,715 | €16,366 | +€8,650 | +112.1% |
| Other operating charges | 640/8 | €2,340 | €3,688 | +€1,348 | +57.6% |
| Gross operating margin | 9900 | €280,102 | €300,725 | +€20,623 | +7.4% |
| Operating profit (loss) | 9901 | €270,046 | €280,671 | +€10,625 | +3.9% |
| Financial income | 75/76B | €14,000 | €14,092 | +€92 | +0.7% |
| Recurring financial income | 75 | €14,000 | €14,092 | +€92 | +0.7% |
| Financial charges | 65/66B | €398 | €902 | +€504 | +126.8% |
| Recurring financial charges | 65 | €398 | €902 | +€504 | +126.8% |
| Profit (loss) for the period before taxes | 9903 | €283,649 | €293,862 | +€10,213 | +3.6% |
| Income taxes | 67/77 | €89,588 | €96,763 | +€7,176 | +8.0% |
| Profit (loss) for the period | 9904 | €194,061 | €197,098 | +€3,037 | +1.6% |
| Profit (loss) for the period to be appropriated | 9905 | €194,061 | €197,098 | +€3,037 | +1.6% |
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 9 October 2026 via checked.be.