F and G Partners: 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.
What changed
F and G Partners
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€349,197
2024 · €54,537+€294,660
Equity
€4.6m
2024 · €4.3m+€309,197
Cash
€55,162
2024 · €82,394-€27,232
Balance sheet total
€14.4m
2024 · €14.5m-€70,222
Largest movements
Assets
- Tangible fixed assets -€311,856
down €311,856 (-4.2%), from €7.4m to €7.1m
of which Other tangible fixed assets: -€162,658
- Receivables within one year +€263,139
up €263,139, from €0 to €263,139
Equity and liabilities
- Debts after one year -€476,494
down €476,494 (-47.4%), from €1.0m to €528,440
- Tax, wage and social debts -€417,277
down €417,277 (-78.6%), from €530,890 to €113,613
- Other debts +€382,008
up €382,008 (+12.1%), from €3.2m to €3.5m
- Reserves +€305,000
up €305,000 (+19.3%), from €1.6m to €1.9m
of which Distributable reserves: +€305,000
Income statement
- Taxes -€417,277
down €417,277 (-78.6%), from €530,890 to €113,613
- Financial charges -€115,678
down €115,678 (-30.2%), from €382,550 to €266,872
- Gross operating margin +€75,704
up €75,704 (+7.8%), from €971,642 to €1.0m
- Financial income +€24,007
up €24,007 (+22.0%), from €109,000 to €133,007
- Staff costs -€15,471
down €15,471 (-20.8%), from €74,396 to €58,924
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.
Result 2024
€54,537
Gross operating margin
+€75,704
Staff costs
+€15,471
Depreciation
+€2,474
Other operating charges
+€6,031
Financial income
+€24,007
Financial charges
+€115,678
Taxes
+€417,277
Deferred taxes and other
-€361,983
Result 2025
€349,197
raises the resultnot broken down further in the accounts
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.
From operations
+€483,197
Investment
€0
Financing
-€510,429
Cash 2024
€82,394
From operations (derived)
+€483,197
Net result for the year
+€349,197
Depreciation
+€312,826
Receivables within one year
-€263,139
Deferred charges and accrued income
-€6,697
Trade debts
-€11,114
Tax, wage and social debts
-€417,277
Other debts
+€382,008
Accrued charges and deferred income
+€137,393
Financing
-€510,429
Debts after one year
-€476,494
Current portion of long-term debt
+€6,065
Contributions, distributions and other
-€40,000
Cash 2025
€55,162
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,513,652 | €14,443,430 | -€70,222 | -0.5% |
| Formation expenses | 20 | €3,666 | €2,697 | -€970 | -26.5% |
| Fixed assets | 21/28 | €14,394,512 | €14,082,656 | -€311,856 | -2.2% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €7,376,608 | €7,064,752 | -€311,856 | -4.2% |
| Land and buildings | 22 | €5,769,657 | €5,660,060 | -€109,598 | -1.9% |
| Plant, machinery and equipment | 23 | €109,897 | €82,758 | -€27,139 | -24.7% |
| Furniture and vehicles | 24 | €28,880 | €16,419 | -€12,461 | -43.1% |
| Other tangible fixed assets | 26 | €1,468,174 | €1,305,516 | -€162,658 | -11.1% |
| Financial fixed assets | 28 | €7,017,904 | €7,017,904 | = | 0.0% |
| Current assets | 29/58 | €115,474 | €358,077 | +€242,604 | +210% |
| Amounts receivable within one year | 40/41 | €0 | €263,139 | +€263,139 | |
| Trade receivables | 40 | €0 | €263,139 | +€263,139 | |
| Cash at bank and in hand | 54/58 | €82,394 | €55,162 | -€27,232 | -33.1% |
| Deferred charges and accrued income | 490/1 | €33,079 | €39,777 | +€6,697 | +20.2% |
| Total equity and liabilities | 10/49 | €14,513,652 | €14,443,430 | -€70,222 | -0.5% |
| Equity | 10/15 | €4,310,742 | €4,619,939 | +€309,197 | +7.2% |
| Contributions | 10/11 | €600,000 | €600,000 | = | 0.0% |
| Capital | 10 | €600,000 | €600,000 | = | 0.0% |
| Issued capital | 100 | €600,000 | €600,000 | = | 0.0% |
| Reserves | 13 | €1,584,222 | €1,889,222 | +€305,000 | +19.3% |
| Non-distributable reserves | 130/1 | €60,000 | €60,000 | = | 0.0% |
| Legal reserve | 130 | €60,000 | €60,000 | = | 0.0% |
| Distributable reserves | 133 | €1,524,222 | €1,829,222 | +€305,000 | +20.0% |
| Profit (loss) carried forward | 14 | €2,126,520 | €2,130,717 | +€4,197 | +0.2% |
| Amounts payable | 17/49 | €10,202,910 | €9,823,491 | -€379,419 | -3.7% |
| Amounts payable after more than one year | 17 | €1,004,934 | €528,440 | -€476,494 | -47.4% |
| Financial debts | 170/4 | €1,004,934 | €528,440 | -€476,494 | -47.4% |
| Amounts payable within one year | 42/48 | €8,695,528 | €8,655,210 | -€40,318 | -0.5% |
| Current portion of amounts payable after more than one year | 42 | €470,429 | €476,494 | +€6,065 | +1.3% |
| Financial debts | 43 | €4,500,000 | €4,500,000 | = | 0.0% |
| Credit institutions | 430/8 | €4,500,000 | €4,500,000 | = | 0.0% |
| Trade debts | 44 | €29,084 | €17,970 | -€11,114 | -38.2% |
| Suppliers | 440/4 | €29,084 | €17,970 | -€11,114 | -38.2% |
| Taxes, remuneration and social security | 45 | €530,890 | €113,613 | -€417,277 | -78.6% |
| Taxes | 450/3 | €530,890 | €113,613 | -€417,277 | -78.6% |
| Other amounts payable | 47/48 | €3,165,125 | €3,547,133 | +€382,008 | +12.1% |
| Accrued charges and deferred income | 492/3 | €502,449 | €639,842 | +€137,393 | +27.3% |
| Remuneration, social security and pensions | 62 | €74,396 | €58,924 | -€15,471 | -20.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €315,300 | €312,826 | -€2,474 | -0.8% |
| Other operating charges | 640/8 | €84,952 | €78,921 | -€6,031 | -7.1% |
| Gross operating margin | 9900 | €971,642 | €1,047,346 | +€75,704 | +7.8% |
| Operating profit (loss) | 9901 | €496,994 | €596,675 | +€99,681 | +20.1% |
| Financial income | 75/76B | €109,000 | €133,007 | +€24,007 | +22.0% |
| Recurring financial income | 75 | €109,000 | €133,007 | +€24,007 | +22.0% |
| Financial charges | 65/66B | €382,550 | €266,872 | -€115,678 | -30.2% |
| Recurring financial charges | 65 | €382,550 | €266,872 | -€115,678 | -30.2% |
| Profit (loss) for the period before taxes | 9903 | €223,444 | €462,810 | +€239,366 | +107% |
| Transfer from deferred taxes | 780 | €361,983 | - | -€361,983 | |
| Income taxes | 67/77 | €530,890 | €113,613 | -€417,277 | -78.6% |
| Profit (loss) for the period | 9904 | €54,537 | €349,197 | +€294,660 | +540% |
| Transfer from tax-exempt reserves | 789 | €1,085,949 | - | -€1.1m | |
| Profit (loss) for the period to be appropriated | 9905 | €1,140,485 | €349,197 | -€791,289 | -69.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.