FAGC MANAGEMENT: 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.
FAGC MANAGEMENT
Largest movements
- Cash -€513,868
down €513,868 (-82.2%), from €625,402 to €111,535
mainly Current investments (-€349,275) and Other debts (-€171,535)
- Current investments +€349,275
up €349,275 (+214279.4%), from €163 to €349,438
- Receivables within one year -€8,069
down €8,069 (-20.9%), from €38,554 to €30,485
of which Trade receivables: -€8,915
- Other debts -€171,535
down €171,535 (-73.0%), from €235,035 to €63,500
- Gross operating margin +€13,995
up €13,995 (+17.0%), from €82,319 to €96,314
- Taxes +€9,091
up €9,091 (+49.6%), from €18,338 to €27,429
- Depreciation -€4,334
down €4,334 (-43.9%), from €9,871 to €5,536
- Financial income +€4,303
up €4,303 (+155.9%), from €2,760 to €7,063
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 | €695,837 | €517,639 | -€178,198 | -25.6% |
| Fixed assets | 21/28 | €31,718 | €26,181 | -€5,536 | -17.5% |
| Tangible fixed assets | 22/27 | €30,718 | €25,181 | -€5,536 | -18.0% |
| Land and buildings | 22 | €24,954 | €23,829 | -€1,125 | -4.5% |
| Furniture and vehicles | 24 | €5,325 | €1,352 | -€3,973 | -74.6% |
| Other tangible fixed assets | 26 | €439 | - | -€439 | |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €664,120 | €491,458 | -€172,662 | -26.0% |
| Amounts receivable within one year | 40/41 | €38,554 | €30,485 | -€8,069 | -20.9% |
| Trade receivables | 40 | €21,655 | €12,740 | -€8,915 | -41.2% |
| Other amounts receivable | 41 | €16,899 | €17,745 | +€845 | +5.0% |
| Current investments | 50/53 | €163 | €349,438 | +€349,275 | +214279.4% |
| Cash at bank and in hand | 54/58 | €625,402 | €111,535 | -€513,868 | -82.2% |
| Total equity and liabilities | 10/49 | €695,837 | €517,639 | -€178,198 | -25.6% |
| Equity | 10/15 | €427,012 | €429,104 | +€2,092 | +0.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €371,860 | €372,860 | +€1,000 | +0.3% |
| Non-distributable reserves | 130/1 | €4,860 | €4,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,860 | €4,860 | = | 0.0% |
| Distributable reserves | 133 | €367,000 | €368,000 | +€1,000 | +0.3% |
| Profit (loss) carried forward | 14 | €42,752 | €43,844 | +€1,092 | +2.6% |
| Amounts payable | 17/49 | €268,825 | €88,536 | -€180,290 | -67.1% |
| Amounts payable within one year | 42/48 | €268,825 | €88,536 | -€180,290 | -67.1% |
| Trade debts | 44 | €7,931 | €1,137 | -€6,794 | -85.7% |
| Suppliers | 440/4 | €7,931 | €1,137 | -€6,794 | -85.7% |
| Taxes, remuneration and social security | 45 | €25,859 | €23,898 | -€1,961 | -7.6% |
| Taxes | 450/3 | €23,759 | €23,898 | +€139 | +0.6% |
| Remuneration and social security | 454/9 | €2,100 | - | -€2,100 | |
| Other amounts payable | 47/48 | €235,035 | €63,500 | -€171,535 | -73.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,871 | €5,536 | -€4,334 | -43.9% |
| Other operating charges | 640/8 | €673 | €447 | -€226 | -33.6% |
| Non-recurring operating charges | 66A | - | €685 | +€685 | |
| Gross operating margin | 9900 | €82,319 | €96,314 | +€13,995 | +17.0% |
| Operating profit (loss) | 9901 | €71,775 | €89,646 | +€17,871 | +24.9% |
| Financial income | 75/76B | €2,760 | €7,063 | +€4,303 | +155.9% |
| Recurring financial income | 75 | €2,760 | €7,063 | +€4,303 | +155.9% |
| Financial charges | 65/66B | €9 | €188 | +€179 | +2032.8% |
| Recurring financial charges | 65 | €9 | €188 | +€179 | +2032.8% |
| Profit (loss) for the period before taxes | 9903 | €74,526 | €96,521 | +€21,995 | +29.5% |
| Income taxes | 67/77 | €18,338 | €27,429 | +€9,091 | +49.6% |
| Profit (loss) for the period | 9904 | €56,188 | €69,092 | +€12,904 | +23.0% |
| Profit (loss) for the period to be appropriated | 9905 | €56,188 | €69,092 | +€12,904 | +23.0% |
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 10 October 2026 via checked.be.