F&G: 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.
F&G
Largest movements
- Cash -€144,066
down €144,066 (-74.6%), from €193,003 to €48,937
mainly Trade debts (-€182,551) and Current investments (-€45,000)
- Receivables within one year -€127,209
down €127,209 (-75.0%), from €169,705 to €42,496
of which Trade receivables: -€140,343
- Current investments +€45,000
new in 2025: €45,000
- Trade debts -€182,551
down €182,551 (-87.1%), from €209,696 to €27,145
- Tax, wage and social debts -€27,180
no longer reported in 2025 (was €27,180)
- Profit (loss) carried forward -€15,585
new in 2025: -€15,585
- Gross operating margin -€96,473
down €96,473, from €83,079 to -€13,394
- Taxes -€27,177
no longer reported in 2025 (was €27,177)
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 | €370,509 | €144,902 | -€225,607 | -60.9% |
| Fixed assets | 21/28 | €1,865 | €2,052 | +€187 | +10.0% |
| Tangible fixed assets | 22/27 | €1,865 | €2,052 | +€187 | +10.0% |
| Furniture and vehicles | 24 | €1,865 | €2,052 | +€187 | +10.0% |
| Current assets | 29/58 | €368,644 | €142,850 | -€225,794 | -61.2% |
| Amounts receivable within one year | 40/41 | €169,705 | €42,496 | -€127,209 | -75.0% |
| Trade receivables | 40 | €168,807 | €28,464 | -€140,343 | -83.1% |
| Other amounts receivable | 41 | €898 | €14,032 | +€13,134 | +1,463% |
| Current investments | 50/53 | - | €45,000 | +€45,000 | |
| Cash at bank and in hand | 54/58 | €193,003 | €48,937 | -€144,066 | -74.6% |
| Deferred charges and accrued income | 490/1 | €5,936 | €6,417 | +€481 | +8.1% |
| Total equity and liabilities | 10/49 | €370,509 | €144,902 | -€225,607 | -60.9% |
| Equity | 10/15 | €133,086 | €117,194 | -€15,892 | -11.9% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €102,086 | €101,779 | -€307 | -0.3% |
| Distributable reserves | 133 | €102,086 | €101,779 | -€307 | -0.3% |
| Profit (loss) carried forward | 14 | - | -€15,585 | -€15,585 | |
| Amounts payable | 17/49 | €237,423 | €27,708 | -€209,715 | -88.3% |
| Amounts payable within one year | 42/48 | €236,876 | €27,145 | -€209,731 | -88.5% |
| Trade debts | 44 | €209,696 | €27,145 | -€182,551 | -87.1% |
| Suppliers | 440/4 | €209,696 | €27,145 | -€182,551 | -87.1% |
| Taxes, remuneration and social security | 45 | €27,180 | - | -€27,180 | |
| Taxes | 450/3 | €27,180 | - | -€27,180 | |
| Accrued charges and deferred income | 492/3 | €547 | €563 | +€16 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26 | €846 | +€820 | +3,154% |
| Other operating charges | 640/8 | €1,129 | €1,475 | +€346 | +30.6% |
| Gross operating margin | 9900 | €83,079 | -€13,394 | -€96,473 | |
| Operating profit (loss) | 9901 | €81,924 | -€15,715 | -€97,639 | |
| Financial income | 75/76B | €2 | €162 | +€160 | +8,000% |
| Recurring financial income | 75 | €2 | €162 | +€160 | +8,000% |
| Financial charges | 65/66B | €409 | €339 | -€70 | -17.1% |
| Recurring financial charges | 65 | €409 | €339 | -€70 | -17.1% |
| Profit (loss) for the period before taxes | 9903 | €81,517 | -€15,892 | -€97,409 | |
| Income taxes | 67/77 | €27,177 | - | -€27,177 | |
| Profit (loss) for the period | 9904 | €54,340 | -€15,892 | -€70,232 | |
| Profit (loss) for the period to be appropriated | 9905 | €54,340 | -€15,892 | -€70,232 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.