F.G.M.: 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.M.
Largest movements
- Receivables within one year -€20,748
down €20,748 (-73.4%), from €28,254 to €7,506
- Stocks and contracts -€18,857
down €18,857 (-10.6%), from €177,529 to €158,672
- Cash +€16,400
up €16,400 (+51.7%), from €31,695 to €48,095
mainly Receivables within one year (+€20,748) and Stocks and contracts (+€18,857)
- Reserves +€110,000
up €110,000 (+1,209%), from €9,100 to €119,100
of which Distributable reserves: +€110,000
- Profit (loss) carried forward -€104,012
down €104,012 (-96.8%), from €107,495 to €3,482
- Tax, wage and social debts -€15,821
down €15,821 (-37.4%), from €42,255 to €26,434
of which Taxes: -€14,244
- Trade debts -€10,190
down €10,190 (-19.5%), from €52,257 to €42,067
- Advances received +€9,163
up €9,163 (+62.6%), from €14,637 to €23,800
- Gross operating margin -€21,661
down €21,661 (-19.4%), from €111,582 to €89,921
- Depreciation -€14,363
down €14,363 (-57.5%), from €24,993 to €10,630
- Taxes -€2,715
down €2,715 (-35.9%), from €7,559 to €4,844
- Staff costs +€2,444
up €2,444 (+4.0%), from €61,541 to €63,985
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €340,601 | €320,073 | -€20,529 | -6.0% |
| Fixed assets | 21/28 | €103,124 | €102,737 | -€387 | -0.4% |
| Tangible fixed assets | 22/27 | €103,124 | €102,737 | -€387 | -0.4% |
| Land and buildings | 22 | €63,650 | €61,250 | -€2,400 | -3.8% |
| Plant, machinery and equipment | 23 | €20,938 | €17,892 | -€3,046 | -14.5% |
| Furniture and vehicles | 24 | €7,074 | €9,362 | +€2,287 | +32.3% |
| Assets under construction and advance payments | 27 | €11,461 | €14,233 | +€2,772 | +24.2% |
| Current assets | 29/58 | €237,478 | €217,336 | -€20,142 | -8.5% |
| Stocks and contracts in progress | 3 | €177,529 | €158,672 | -€18,857 | -10.6% |
| Stocks | 30/36 | €177,529 | €158,672 | -€18,857 | -10.6% |
| Amounts receivable within one year | 40/41 | €28,254 | €7,506 | -€20,748 | -73.4% |
| Trade receivables | 40 | €28,254 | €7,506 | -€20,748 | -73.4% |
| Cash at bank and in hand | 54/58 | €31,695 | €48,095 | +€16,400 | +51.7% |
| Deferred charges and accrued income | 490/1 | - | €3,063 | +€3,063 | |
| Total equity and liabilities | 10/49 | €340,601 | €320,073 | -€20,529 | -6.0% |
| Equity | 10/15 | €199,245 | €205,232 | +€5,988 | +3.0% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Revaluation surpluses | 12 | €63,650 | €63,650 | = | 0.0% |
| Reserves | 13 | €9,100 | €119,100 | +€110,000 | +1,209% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Distributable reserves | 133 | €7,200 | €117,200 | +€110,000 | +1,528% |
| Profit (loss) carried forward | 14 | €107,495 | €3,482 | -€104,012 | -96.8% |
| Amounts payable | 17/49 | €141,357 | €114,841 | -€26,516 | -18.8% |
| Amounts payable after more than one year | 17 | €28,093 | €22,539 | -€5,554 | -19.8% |
| Financial debts | 170/4 | €28,093 | - | -€28,093 | |
| Other amounts payable | 178/9 | - | €22,539 | +€22,539 | |
| Amounts payable within one year | 42/48 | €113,263 | €92,302 | -€20,962 | -18.5% |
| Current portion of amounts payable after more than one year | 42 | €4,114 | - | -€4,114 | |
| Trade debts | 44 | €52,257 | €42,067 | -€10,190 | -19.5% |
| Suppliers | 440/4 | €52,257 | €42,067 | -€10,190 | -19.5% |
| Advances received on contracts in progress | 46 | €14,637 | €23,800 | +€9,163 | +62.6% |
| Taxes, remuneration and social security | 45 | €42,255 | €26,434 | -€15,821 | -37.4% |
| Taxes | 450/3 | €36,087 | €21,843 | -€14,244 | -39.5% |
| Remuneration and social security | 454/9 | €6,168 | €4,592 | -€1,576 | -25.6% |
| Remuneration, social security and pensions | 62 | €61,541 | €63,985 | +€2,444 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,993 | €10,630 | -€14,363 | -57.5% |
| Other operating charges | 640/8 | €3,316 | €3,607 | +€291 | +8.8% |
| Gross operating margin | 9900 | €111,582 | €89,921 | -€21,661 | -19.4% |
| Operating profit (loss) | 9901 | €21,732 | €11,699 | -€10,033 | -46.2% |
| Financial charges | 65/66B | €749 | €868 | +€118 | +15.8% |
| Recurring financial charges | 65 | €749 | €868 | +€118 | +15.8% |
| Profit (loss) for the period before taxes | 9903 | €20,983 | €10,832 | -€10,151 | -48.4% |
| Income taxes | 67/77 | €7,559 | €4,844 | -€2,715 | -35.9% |
| Profit (loss) for the period | 9904 | €13,424 | €5,988 | -€7,436 | -55.4% |
| Profit (loss) for the period to be appropriated | 9905 | €13,424 | €5,988 | -€7,436 | -55.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.