PASSAGE FIEMS: 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.
PASSAGE FIEMS
Largest movements
- Tangible fixed assets -€13,955
down €13,955 (-23.6%), from €59,230 to €45,275
of which Furniture and vehicles: -€13,991
- Cash +€2,186
up €2,186 (+64.3%), from €3,402 to €5,588
mainly Depreciation (+€16,223) and Tax, wage and social debts (+€1,934)
- Receivables within one year +€948
up €948 (+156%), from €607 to €1,555
- Debts after one year -€13,245
down €13,245 (-32.7%), from €40,507 to €27,262
- Trade debts -€3,354
down €3,354 (-51.0%), from €6,577 to €3,223
- Tax, wage and social debts +€1,934
up €1,934 (+70.6%), from €2,739 to €4,673
of which Taxes: +€1,622
- Profit (loss) carried forward +€1,861
up €1,861 (+4.6%), from -€40,769 to -€38,908
- Other debts +€1,269
up €1,269 (+2.8%), from €45,560 to €46,829
- Gross operating margin +€11,942
up €11,942 (+34.3%), from €34,802 to €46,744
- Staff costs +€1,489
up €1,489 (+6.5%), from €22,994 to €24,483
- Depreciation +€517
up €517 (+3.3%), from €15,706 to €16,223
- Financial charges -€488
down €488 (-14.7%), from €3,326 to €2,838
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 | €74,250 | €63,345 | -€10,905 | -14.7% |
| Fixed assets | 21/28 | €59,230 | €45,275 | -€13,955 | -23.6% |
| Tangible fixed assets | 22/27 | €59,230 | €45,275 | -€13,955 | -23.6% |
| Land and buildings | 22 | €1,113 | €674 | -€439 | -39.4% |
| Plant, machinery and equipment | 23 | €1,183 | €1,658 | +€475 | +40.2% |
| Furniture and vehicles | 24 | €56,934 | €42,943 | -€13,991 | -24.6% |
| Current assets | 29/58 | €15,020 | €18,070 | +€3,050 | +20.3% |
| Stocks and contracts in progress | 3 | €10,516 | €10,927 | +€411 | +3.9% |
| Stocks | 30/36 | €10,516 | €10,927 | +€411 | +3.9% |
| Amounts receivable within one year | 40/41 | €607 | €1,555 | +€948 | +156% |
| Other amounts receivable | 41 | €607 | €1,555 | +€948 | +156% |
| Cash at bank and in hand | 54/58 | €3,402 | €5,588 | +€2,186 | +64.3% |
| Deferred charges and accrued income | 490/1 | €495 | - | -€495 | |
| Total equity and liabilities | 10/49 | €74,250 | €63,345 | -€10,905 | -14.7% |
| Equity | 10/15 | -€33,749 | -€31,888 | +€1,861 | +5.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €820 | €820 | = | 0.0% |
| Non-distributable reserves | 130/1 | €820 | €820 | = | 0.0% |
| Reserves not available under the articles | 1311 | €820 | €820 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€40,769 | -€38,908 | +€1,861 | +4.6% |
| Amounts payable | 17/49 | €107,999 | €95,233 | -€12,766 | -11.8% |
| Amounts payable after more than one year | 17 | €40,507 | €27,262 | -€13,245 | -32.7% |
| Financial debts | 170/4 | €40,507 | €27,262 | -€13,245 | -32.7% |
| Amounts payable within one year | 42/48 | €67,492 | €67,971 | +€479 | +0.7% |
| Current portion of amounts payable after more than one year | 42 | €12,616 | €13,246 | +€630 | +5.0% |
| Trade debts | 44 | €6,577 | €3,223 | -€3,354 | -51.0% |
| Suppliers | 440/4 | €6,577 | €3,223 | -€3,354 | -51.0% |
| Taxes, remuneration and social security | 45 | €2,739 | €4,673 | +€1,934 | +70.6% |
| Taxes | 450/3 | €2,297 | €3,919 | +€1,622 | +70.6% |
| Remuneration and social security | 454/9 | €442 | €754 | +€312 | +70.6% |
| Other amounts payable | 47/48 | €45,560 | €46,829 | +€1,269 | +2.8% |
| Remuneration, social security and pensions | 62 | €22,994 | €24,483 | +€1,489 | +6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,706 | €16,223 | +€517 | +3.3% |
| Other operating charges | 640/8 | €1,707 | €1,437 | -€270 | -15.8% |
| Gross operating margin | 9900 | €34,802 | €46,744 | +€11,942 | +34.3% |
| Operating profit (loss) | 9901 | -€5,605 | €4,601 | +€10,206 | |
| Financial income | 75/76B | - | €98 | +€98 | |
| Recurring financial income | 75 | - | €98 | +€98 | |
| Financial charges | 65/66B | €3,326 | €2,838 | -€488 | -14.7% |
| Recurring financial charges | 65 | €3,326 | €2,838 | -€488 | -14.7% |
| Profit (loss) for the period before taxes | 9903 | -€8,931 | €1,861 | +€10,792 | |
| Profit (loss) for the period | 9904 | -€8,931 | €1,861 | +€10,792 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,931 | €1,861 | +€10,792 |
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 27 October 2026 via checked.be.