FEME: 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.
FEME
Largest movements
- Receivables after one year +€30,000
up €30,000 (+200%), from €15,000 to €45,000
- Cash -€6,181
down €6,181 (-13.1%), from €47,319 to €41,138
mainly Receivables after one year (-€30,000) and Tax, wage and social debts (-€7,260)
- Receivables within one year +€2,323
up €2,323 (+8.4%), from €27,647 to €29,970
of which Trade receivables: +€13,855
- Deferred charges and accrued income +€1,408
up €1,408 (+87.4%), from €1,612 to €3,020
- Tangible fixed assets -€1,308
down €1,308 (-34.3%), from €3,811 to €2,503
of which Plant, machinery and equipment: -€974
- Reserves +€23,393
up €23,393 (+39.6%), from €59,089 to €82,482
- Tax, wage and social debts -€7,260
down €7,260 (-24.9%), from €29,155 to €21,895
- Trade debts +€6,226
up €6,226 (+150%), from €4,145 to €10,371
- Other debts +€3,883
up €3,883, from €0 to €3,883
- Gross operating margin +€3,190
up €3,190 (+9.6%), from €33,229 to €36,419
- Taxes +€761
up €761 (+12.3%), from €6,179 to €6,940
- Financial charges -€617
down €617 (-11.8%), from €5,220 to €4,603
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 | €95,389 | €121,631 | +€26,242 | +27.5% |
| Fixed assets | 21/28 | €3,811 | €2,503 | -€1,308 | -34.3% |
| Tangible fixed assets | 22/27 | €3,811 | €2,503 | -€1,308 | -34.3% |
| Plant, machinery and equipment | 23 | €3,321 | €2,347 | -€974 | -29.3% |
| Furniture and vehicles | 24 | €490 | €156 | -€334 | -68.2% |
| Current assets | 29/58 | €91,578 | €119,128 | +€27,550 | +30.1% |
| Amounts receivable after more than one year | 29 | €15,000 | €45,000 | +€30,000 | +200% |
| Other amounts receivable | 291 | €15,000 | €45,000 | +€30,000 | +200% |
| Amounts receivable within one year | 40/41 | €27,647 | €29,970 | +€2,323 | +8.4% |
| Trade receivables | 40 | €16,115 | €29,970 | +€13,855 | +86.0% |
| Other amounts receivable | 41 | €11,532 | €0 | -€11,532 | -100% |
| Cash at bank and in hand | 54/58 | €47,319 | €41,138 | -€6,181 | -13.1% |
| Deferred charges and accrued income | 490/1 | €1,612 | €3,020 | +€1,408 | +87.4% |
| Total equity and liabilities | 10/49 | €95,389 | €121,631 | +€26,242 | +27.5% |
| Equity | 10/15 | €62,089 | €85,482 | +€23,393 | +37.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €59,089 | €82,482 | +€23,393 | +39.6% |
| Distributable reserves | 133 | €59,089 | €82,482 | +€23,393 | +39.6% |
| Amounts payable | 17/49 | €33,300 | €36,149 | +€2,849 | +8.6% |
| Amounts payable within one year | 42/48 | €33,300 | €36,149 | +€2,849 | +8.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €4,145 | €10,371 | +€6,226 | +150% |
| Suppliers | 440/4 | €4,145 | €10,371 | +€6,226 | +150% |
| Taxes, remuneration and social security | 45 | €29,155 | €21,895 | -€7,260 | -24.9% |
| Taxes | 450/3 | €29,155 | €21,895 | -€7,260 | -24.9% |
| Other amounts payable | 47/48 | €0 | €3,883 | +€3,883 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,308 | €1,308 | = | 0.0% |
| Other operating charges | 640/8 | €1,412 | €1,248 | -€164 | -11.6% |
| Gross operating margin | 9900 | €33,229 | €36,419 | +€3,190 | +9.6% |
| Operating profit (loss) | 9901 | €30,510 | €33,863 | +€3,353 | +11.0% |
| Financial income | 75/76B | €771 | €1,073 | +€302 | +39.2% |
| Recurring financial income | 75 | €771 | €1,073 | +€302 | +39.2% |
| Financial charges | 65/66B | €5,220 | €4,603 | -€617 | -11.8% |
| Recurring financial charges | 65 | €5,220 | €4,603 | -€617 | -11.8% |
| Profit (loss) for the period before taxes | 9903 | €26,061 | €30,333 | +€4,272 | +16.4% |
| Income taxes | 67/77 | €6,179 | €6,940 | +€761 | +12.3% |
| Profit (loss) for the period | 9904 | €19,882 | €23,393 | +€3,511 | +17.7% |
| Profit (loss) for the period to be appropriated | 9905 | €19,882 | €23,393 | +€3,511 | +17.7% |
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 18 October 2026 via checked.be.