FEMO: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
FEMO
Largest movements
- Cash -€23,972
down €23,972 (-77.8%), from €30,816 to €6,844
mainly Debts after one year (-€28,577) and Investment in fixed assets (net) (-€13,250)
- Tangible fixed assets -€13,471
down €13,471 (-4.7%), from €287,865 to €274,393
of which Land and buildings: -€12,707
- Debts after one year -€28,577
down €28,577 (-100%), from €28,577 to €0
- Other debts -€10,090
down €10,090 (-97.1%), from €10,390 to €300
- Provisions -€6,310
down €6,310 (-16.5%), from €38,325 to €32,016
- Reserves +€5,594
up €5,594 (+2.9%), from €194,055 to €199,649
of which Distributable reserves: +€24,523
- Gross operating margin +€4,044
up €4,044 (+10.8%), from €37,383 to €41,427
- Financial charges -€1,555
down €1,555 (-33.5%), from €4,647 to €3,092
- Taxes +€1,344
up €1,344 (+18.8%), from €7,151 to €8,495
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €319,735 | €282,970 | -€36,765 | -11.5% |
| Fixed assets | 21/28 | €287,865 | €274,393 | -€13,471 | -4.7% |
| Tangible fixed assets | 22/27 | €287,865 | €274,393 | -€13,471 | -4.7% |
| Land and buildings | 22 | €265,048 | €252,341 | -€12,707 | -4.8% |
| Plant, machinery and equipment | 23 | €4,592 | €3,856 | -€736 | -16.0% |
| Furniture and vehicles | 24 | €18,225 | €18,196 | -€29 | -0.2% |
| Current assets | 29/58 | €31,870 | €8,577 | -€23,293 | -73.1% |
| Amounts receivable within one year | 40/41 | €273 | €0 | -€273 | -100% |
| Other amounts receivable | 41 | €273 | €0 | -€273 | -100% |
| Cash at bank and in hand | 54/58 | €30,816 | €6,844 | -€23,972 | -77.8% |
| Deferred charges and accrued income | 490/1 | €781 | €1,732 | +€952 | +122% |
| Total equity and liabilities | 10/49 | €319,735 | €282,970 | -€36,765 | -11.5% |
| Equity | 10/15 | €212,605 | €218,199 | +€5,594 | +2.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €194,055 | €199,649 | +€5,594 | +2.9% |
| Tax-exempt reserves | 132 | €114,975 | €96,047 | -€18,929 | -16.5% |
| Distributable reserves | 133 | €79,080 | €103,603 | +€24,523 | +31.0% |
| Provisions and deferred taxes | 16 | €38,325 | €32,016 | -€6,310 | -16.5% |
| Deferred taxes | 168 | €38,325 | €32,016 | -€6,310 | -16.5% |
| Amounts payable | 17/49 | €68,804 | €32,755 | -€36,049 | -52.4% |
| Amounts payable after more than one year | 17 | €28,577 | €0 | -€28,577 | -100% |
| Financial debts | 170/4 | €28,577 | €0 | -€28,577 | -100% |
| Amounts payable within one year | 42/48 | €40,227 | €32,755 | -€7,472 | -18.6% |
| Current portion of amounts payable after more than one year | 42 | €28,571 | €28,577 | +€6 | 0.0% |
| Trade debts | 44 | €1,115 | €3,383 | +€2,268 | +203% |
| Suppliers | 440/4 | €1,115 | €3,383 | +€2,268 | +203% |
| Taxes, remuneration and social security | 45 | €151 | €495 | +€344 | +227% |
| Taxes | 450/3 | €151 | €495 | +€344 | +227% |
| Other amounts payable | 47/48 | €10,390 | €300 | -€10,090 | -97.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,592 | €26,721 | +€130 | +0.5% |
| Other operating charges | 640/8 | €3,719 | €3,836 | +€117 | +3.1% |
| Gross operating margin | 9900 | €37,383 | €41,427 | +€4,044 | +10.8% |
| Operating profit (loss) | 9901 | €7,073 | €10,870 | +€3,797 | +53.7% |
| Financial income | 75/76B | €1 | €2 | +€1 | +214% |
| Recurring financial income | 75 | €1 | €2 | +€1 | +214% |
| Financial charges | 65/66B | €4,647 | €3,092 | -€1,555 | -33.5% |
| Recurring financial charges | 65 | €4,647 | €3,092 | -€1,555 | -33.5% |
| Profit (loss) for the period before taxes | 9903 | €2,427 | €7,780 | +€5,353 | +221% |
| Transfer from deferred taxes | 780 | €6,310 | €6,310 | = | 0.0% |
| Income taxes | 67/77 | €7,151 | €8,495 | +€1,344 | +18.8% |
| Profit (loss) for the period | 9904 | €1,585 | €5,594 | +€4,009 | +253% |
| Transfer from tax-exempt reserves | 789 | €18,929 | €18,929 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €20,513 | €24,523 | +€4,009 | +19.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.