De Fagot: what changed
Two fiscal 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.
De Fagot
Largest movements
- Cash +€60,106
up €60,106 (+11343.7%), from €530 to €60,636
mainly Net result for the year (+€61,202) and Depreciation (+€31,816)
- Tangible fixed assets -€27,461
down €27,461 (-14.3%), from €192,343 to €164,882
of which Plant, machinery and equipment: -€16,908
- Reserves +€61,202
new in 2025: €61,202
- Debts after one year -€24,492
down €24,492 (-27.7%), from €88,415 to €63,922
- Tax, wage and social debts +€6,465
up €6,465 (+23.0%), from €28,052 to €34,517
of which Taxes: +€16,516
- Trade debts -€5,465
down €5,465 (-47.0%), from €11,619 to €6,153
- Other debts -€3,484
down €3,484 (-22.2%), from €15,673 to €12,189
- Gross operating margin +€52,953
up €52,953 (+80.4%), from €65,828 to €118,780
- Taxes +€12,622
up €12,622 (+320.9%), from €3,933 to €16,554
- Depreciation +€12,306
up €12,306 (+63.1%), from €19,510 to €31,816
- Financial charges +€2,603
up €2,603 (+56.0%), from €4,650 to €7,254
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 | €205,112 | €238,469 | +€33,357 | +16.3% |
| Formation expenses | 20 | €1,310 | €1,000 | -€310 | -23.7% |
| Fixed assets | 21/28 | €192,343 | €164,882 | -€27,461 | -14.3% |
| Tangible fixed assets | 22/27 | €192,343 | €164,882 | -€27,461 | -14.3% |
| Land and buildings | 22 | €106,094 | €95,855 | -€10,239 | -9.7% |
| Plant, machinery and equipment | 23 | €73,969 | €57,062 | -€16,908 | -22.9% |
| Furniture and vehicles | 24 | €12,279 | €11,965 | -€314 | -2.6% |
| Current assets | 29/58 | €11,459 | €72,587 | +€61,128 | +533.5% |
| Stocks and contracts in progress | 3 | €4,499 | €4,483 | -€16 | -0.4% |
| Stocks | 30/36 | €4,499 | €4,483 | -€16 | -0.4% |
| Amounts receivable within one year | 40/41 | €4,005 | €5,216 | +€1,211 | +30.2% |
| Trade receivables | 40 | €1,087 | €3,519 | +€2,432 | +223.8% |
| Other amounts receivable | 41 | €2,918 | €1,697 | -€1,221 | -41.8% |
| Cash at bank and in hand | 54/58 | €530 | €60,636 | +€60,106 | +11343.7% |
| Deferred charges and accrued income | 490/1 | €2,426 | €2,252 | -€173 | -7.1% |
| Total equity and liabilities | 10/49 | €205,112 | €238,469 | +€33,357 | +16.3% |
| Equity | 10/15 | €35,916 | €97,118 | +€61,202 | +170.4% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | - | €61,202 | +€61,202 | |
| Distributable reserves | 133 | - | €61,202 | +€61,202 | |
| Profit (loss) carried forward | 14 | €31,916 | €31,916 | = | 0.0% |
| Amounts payable | 17/49 | €169,197 | €141,351 | -€27,845 | -16.5% |
| Amounts payable after more than one year | 17 | €88,415 | €63,922 | -€24,492 | -27.7% |
| Financial debts | 170/4 | €88,415 | €63,922 | -€24,492 | -27.7% |
| Amounts payable within one year | 42/48 | €78,762 | €77,351 | -€1,411 | -1.8% |
| Current portion of amounts payable after more than one year | 42 | €23,418 | €24,492 | +€1,074 | +4.6% |
| Trade debts | 44 | €11,619 | €6,153 | -€5,465 | -47.0% |
| Suppliers | 440/4 | €11,619 | €6,153 | -€5,465 | -47.0% |
| Taxes, remuneration and social security | 45 | €28,052 | €34,517 | +€6,465 | +23.0% |
| Taxes | 450/3 | €12,659 | €29,174 | +€16,516 | +130.5% |
| Remuneration and social security | 454/9 | €15,393 | €5,342 | -€10,051 | -65.3% |
| Other amounts payable | 47/48 | €15,673 | €12,189 | -€3,484 | -22.2% |
| Accrued charges and deferred income | 492/3 | €2,020 | €78 | -€1,942 | -96.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,510 | €31,816 | +€12,306 | +63.1% |
| Other operating charges | 640/8 | €820 | €1,982 | +€1,162 | +141.6% |
| Gross operating margin | 9900 | €65,828 | €118,780 | +€52,953 | +80.4% |
| Operating profit (loss) | 9901 | €45,497 | €84,982 | +€39,485 | +86.8% |
| Financial income | 75/76B | €1 | €28 | +€26 | +2183.5% |
| Recurring financial income | 75 | €1 | €28 | +€26 | +2183.5% |
| Financial charges | 65/66B | €4,650 | €7,254 | +€2,603 | +56.0% |
| Recurring financial charges | 65 | €4,650 | €7,254 | +€2,603 | +56.0% |
| Profit (loss) for the period before taxes | 9903 | €40,848 | €77,756 | +€36,908 | +90.4% |
| Income taxes | 67/77 | €3,933 | €16,554 | +€12,622 | +320.9% |
| Profit (loss) for the period | 9904 | €36,916 | €61,202 | +€24,286 | +65.8% |
| Profit (loss) for the period to be appropriated | 9905 | €36,916 | €61,202 | +€24,286 | +65.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.