FAGEDIS: 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.
FAGEDIS
Largest movements
- Tangible fixed assets +€202,240
up €202,240 (+38.7%), from €522,509 to €724,749
of which Land and buildings: +€146,147
- Cash -€138,009
down €138,009 (-60.6%), from €227,633 to €89,624
mainly Other debts (-€388,449) and Investment in fixed assets (net) (-€300,902)
- Deferred charges and accrued income -€45,413
down €45,413 (-91.1%), from €49,862 to €4,449
- Stocks and contracts +€32,398
up €32,398 (+20.0%), from €161,711 to €194,109
- Receivables within one year -€16,232
down €16,232 (-5.6%), from €289,171 to €272,940
of which Other amounts receivable: -€64,855
- Other debts -€388,449
down €388,449 (-83.0%), from €468,169 to €79,720
- Debts after one year +€249,978
new in 2025: €249,978
- Profit (loss) carried forward +€117,315
up €117,315 (+39.9%), from €294,003 to €411,318
- Trade debts +€72,859
up €72,859 (+94.1%), from €77,403 to €150,262
- Accrued charges and deferred income -€15,056
down €15,056 (-99.7%), from €15,106 to €50
- Gross operating margin -€51,268
down €51,268 (-9.1%), from €565,573 to €514,304
- Depreciation +€32,846
up €32,846 (+49.8%), from €66,020 to €98,866
- Taxes -€24,027
down €24,027 (-37.1%), from €64,764 to €40,737
- Financial charges -€7,389
down €7,389 (-45.5%), from €16,251 to €8,862
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 | €1,251,091 | €1,285,871 | +€34,780 | +2.8% |
| Fixed assets | 21/28 | €522,713 | €724,749 | +€202,036 | +38.7% |
| Tangible fixed assets | 22/27 | €522,509 | €724,749 | +€202,240 | +38.7% |
| Land and buildings | 22 | €411,711 | €557,858 | +€146,147 | +35.5% |
| Plant, machinery and equipment | 23 | €71,430 | €62,225 | -€9,204 | -12.9% |
| Furniture and vehicles | 24 | €39,368 | €104,666 | +€65,298 | +165.9% |
| Financial fixed assets | 28 | €204 | - | -€204 | |
| Current assets | 29/58 | €728,377 | €561,121 | -€167,256 | -23.0% |
| Stocks and contracts in progress | 3 | €161,711 | €194,109 | +€32,398 | +20.0% |
| Stocks | 30/36 | €161,711 | €194,109 | +€32,398 | +20.0% |
| Amounts receivable within one year | 40/41 | €289,171 | €272,940 | -€16,232 | -5.6% |
| Trade receivables | 40 | €221,498 | €270,121 | +€48,623 | +22.0% |
| Other amounts receivable | 41 | €67,673 | €2,818 | -€64,855 | -95.8% |
| Cash at bank and in hand | 54/58 | €227,633 | €89,624 | -€138,009 | -60.6% |
| Deferred charges and accrued income | 490/1 | €49,862 | €4,449 | -€45,413 | -91.1% |
| Total equity and liabilities | 10/49 | €1,251,091 | €1,285,871 | +€34,780 | +2.8% |
| Equity | 10/15 | €633,003 | €750,318 | +€117,315 | +18.5% |
| Contributions | 10/11 | €220,000 | €220,000 | = | 0.0% |
| Capital | 10 | €220,000 | €220,000 | = | 0.0% |
| Issued capital | 100 | €220,000 | €220,000 | = | 0.0% |
| Reserves | 13 | €119,000 | €119,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €22,000 | €22,000 | = | 0.0% |
| Legal reserve | 130 | €22,000 | €22,000 | = | 0.0% |
| Distributable reserves | 133 | €97,000 | €97,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €294,003 | €411,318 | +€117,315 | +39.9% |
| Amounts payable | 17/49 | €618,088 | €535,552 | -€82,535 | -13.4% |
| Amounts payable after more than one year | 17 | - | €249,978 | +€249,978 | |
| Financial debts | 170/4 | - | €249,978 | +€249,978 | |
| Amounts payable within one year | 42/48 | €602,981 | €285,524 | -€317,457 | -52.6% |
| Current portion of amounts payable after more than one year | 42 | €20,000 | €14,249 | -€5,751 | -28.8% |
| Trade debts | 44 | €77,403 | €150,262 | +€72,859 | +94.1% |
| Suppliers | 440/4 | €77,403 | €150,262 | +€72,859 | +94.1% |
| Taxes, remuneration and social security | 45 | €37,410 | €41,293 | +€3,883 | +10.4% |
| Taxes | 450/3 | €14,882 | €21,386 | +€6,504 | +43.7% |
| Remuneration and social security | 454/9 | €22,528 | €19,907 | -€2,621 | -11.6% |
| Other amounts payable | 47/48 | €468,169 | €79,720 | -€388,449 | -83.0% |
| Accrued charges and deferred income | 492/3 | €15,106 | €50 | -€15,056 | -99.7% |
| Non-recurring operating income | 76A | €16,680 | - | -€16,680 | |
| Remuneration, social security and pensions | 62 | €193,441 | €197,421 | +€3,979 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,020 | €98,866 | +€32,846 | +49.8% |
| Non-recurring operating charges | 66A | - | €1,560 | +€1,560 | |
| Gross operating margin | 9900 | €565,573 | €514,304 | -€51,268 | -9.1% |
| Operating profit (loss) | 9901 | €306,112 | €216,458 | -€89,654 | -29.3% |
| Financial income | 75/76B | €457 | €456 | -€1 | -0.3% |
| Recurring financial income | 75 | €457 | €456 | -€1 | -0.3% |
| Financial charges | 65/66B | €16,251 | €8,862 | -€7,389 | -45.5% |
| Recurring financial charges | 65 | €16,251 | €8,862 | -€7,389 | -45.5% |
| Profit (loss) for the period before taxes | 9903 | €290,318 | €208,052 | -€82,266 | -28.3% |
| Income taxes | 67/77 | €64,764 | €40,737 | -€24,027 | -37.1% |
| Profit (loss) for the period | 9904 | €225,554 | €167,315 | -€58,239 | -25.8% |
| Profit (loss) for the period to be appropriated | 9905 | €225,554 | €167,315 | -€58,239 | -25.8% |
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 30 September 2026 via checked.be.