FuMoCo: 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.
FuMoCo
Largest movements
- Receivables within one year +€184,039
up €184,039 (+78.4%), from €234,753 to €418,792
of which Other amounts receivable: +€154,082
- Tangible fixed assets +€143,934
up €143,934 (+500%), from €28,802 to €172,736
of which Land and buildings: +€143,603
- Debts after one year +€138,505
up €138,505 (+5.0%), from €2.8m to €2.9m
- Other debts +€82,824
up €82,824 (+33.1%), from €249,986 to €332,810
- Reserves +€73,774
up €73,774 (+708%), from €10,416 to €84,190
- Gross operating margin -€32,043
down €32,043 (-41.4%), from €77,360 to €45,317
- Financial income -€21,765
down €21,765 (-14.5%), from €150,306 to €128,541
- Financial charges +€9,059
up €9,059 (+10.9%), from €82,923 to €91,982
- Depreciation -€2,365
down €2,365 (-28.5%), from €8,306 to €5,941
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 | €3,065,479 | €3,388,824 | +€323,345 | +10.5% |
| Fixed assets | 21/28 | €2,789,848 | €2,933,782 | +€143,934 | +5.2% |
| Tangible fixed assets | 22/27 | €28,802 | €172,736 | +€143,934 | +500% |
| Land and buildings | 22 | €27,775 | €171,378 | +€143,603 | +517% |
| Furniture and vehicles | 24 | €1,027 | €1,358 | +€331 | +32.2% |
| Financial fixed assets | 28 | €2,761,046 | €2,761,046 | = | 0.0% |
| Current assets | 29/58 | €275,631 | €455,042 | +€179,411 | +65.1% |
| Amounts receivable within one year | 40/41 | €234,753 | €418,792 | +€184,039 | +78.4% |
| Trade receivables | 40 | €63,097 | €93,054 | +€29,957 | +47.5% |
| Other amounts receivable | 41 | €171,656 | €325,738 | +€154,082 | +89.8% |
| Cash at bank and in hand | 54/58 | €27,097 | €9,735 | -€17,362 | -64.1% |
| Deferred charges and accrued income | 490/1 | €13,781 | €26,515 | +€12,734 | +92.4% |
| Total equity and liabilities | 10/49 | €3,065,479 | €3,388,824 | +€323,345 | +10.5% |
| Equity | 10/15 | €25,416 | €99,190 | +€73,774 | +290% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €10,416 | €84,190 | +€73,774 | +708% |
| Distributable reserves | 133 | €10,416 | €84,190 | +€73,774 | +708% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €3,040,063 | €3,289,634 | +€249,570 | +8.2% |
| Amounts payable after more than one year | 17 | €2,761,046 | €2,899,551 | +€138,505 | +5.0% |
| Financial debts | 170/4 | €2,761,046 | €2,899,551 | +€138,505 | +5.0% |
| Amounts payable within one year | 42/48 | €273,058 | €386,156 | +€113,098 | +41.4% |
| Trade debts | 44 | €19,136 | €50,553 | +€31,416 | +164% |
| Suppliers | 440/4 | €19,136 | €50,553 | +€31,416 | +164% |
| Taxes, remuneration and social security | 45 | €3,937 | €2,794 | -€1,143 | -29.0% |
| Taxes | 450/3 | €3,937 | €2,794 | -€1,143 | -29.0% |
| Other amounts payable | 47/48 | €249,986 | €332,810 | +€82,824 | +33.1% |
| Accrued charges and deferred income | 492/3 | €5,959 | €3,927 | -€2,032 | -34.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,306 | €5,941 | -€2,365 | -28.5% |
| Other operating charges | 640/8 | €2,033 | €2,077 | +€44 | +2.2% |
| Gross operating margin | 9900 | €77,360 | €45,317 | -€32,043 | -41.4% |
| Operating profit (loss) | 9901 | €67,020 | €37,298 | -€29,722 | -44.3% |
| Financial income | 75/76B | €150,306 | €128,541 | -€21,765 | -14.5% |
| Recurring financial income | 75 | €150,306 | €128,541 | -€21,765 | -14.5% |
| Financial charges | 65/66B | €82,923 | €91,982 | +€9,059 | +10.9% |
| Recurring financial charges | 65 | €82,923 | €91,982 | +€9,059 | +10.9% |
| Profit (loss) for the period before taxes | 9903 | €134,403 | €73,857 | -€60,546 | -45.0% |
| Income taxes | 67/77 | €71 | €82 | +€12 | +16.7% |
| Profit (loss) for the period | 9904 | €134,332 | €73,774 | -€60,558 | -45.1% |
| Profit (loss) for the period to be appropriated | 9905 | €134,332 | €73,774 | -€60,558 | -45.1% |
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 31 October 2026 via checked.be.