FAGEMESO: 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.
FAGEMESO
Largest movements
- Cash +€348,553
up €348,553 (+340.9%), from €102,260 to €450,812
mainly Debts after one year (+€228,629) and Net result for the year (+€193,567)
- Tangible fixed assets -€51,681
down €51,681 (-5.7%), from €905,680 to €854,000
of which Land and buildings: -€62,683
- Debts after one year +€228,629
new in 2025: €228,629
- Reserves +€44,655
up €44,655 (+5.0%), from €893,514 to €938,169
of which Distributable reserves: +€44,655
- Current portion of long-term debt +€39,517
up €39,517, from €0 to €39,517
- Gross operating margin +€64,696
up €64,696 (+13.6%), from €474,004 to €538,701
- Taxes +€40,775
up €40,775 (+83.4%), from €48,914 to €89,689
- Depreciation -€38,297
down €38,297 (-30.3%), from €126,370 to €88,073
- Financial charges +€12,340
up €12,340 (+110.1%), from €11,211 to €23,550
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 | €1,093,554 | €1,384,172 | +€290,618 | +26.6% |
| Fixed assets | 21/28 | €905,680 | €854,000 | -€51,681 | -5.7% |
| Tangible fixed assets | 22/27 | €905,680 | €854,000 | -€51,681 | -5.7% |
| Land and buildings | 22 | €878,766 | €816,084 | -€62,683 | -7.1% |
| Plant, machinery and equipment | 23 | €9,779 | €2,812 | -€6,968 | -71.2% |
| Furniture and vehicles | 24 | €17,135 | €35,104 | +€17,970 | +104.9% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Current assets | 29/58 | €187,874 | €530,173 | +€342,299 | +182.2% |
| Amounts receivable within one year | 40/41 | €61,229 | €52,453 | -€8,775 | -14.3% |
| Trade receivables | 40 | €54,722 | €48,042 | -€6,680 | -12.2% |
| Other amounts receivable | 41 | €6,507 | €4,411 | -€2,096 | -32.2% |
| Cash at bank and in hand | 54/58 | €102,260 | €450,812 | +€348,553 | +340.9% |
| Deferred charges and accrued income | 490/1 | €24,386 | €26,907 | +€2,521 | +10.3% |
| Total equity and liabilities | 10/49 | €1,093,554 | €1,384,172 | +€290,618 | +26.6% |
| Equity | 10/15 | €1,007,207 | €1,051,862 | +€44,655 | +4.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €893,514 | €938,169 | +€44,655 | +5.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €872,909 | €917,564 | +€44,655 | +5.1% |
| Profit (loss) carried forward | 14 | €101,293 | €101,293 | = | 0.0% |
| Amounts payable | 17/49 | €86,347 | €332,311 | +€245,963 | +284.9% |
| Amounts payable after more than one year | 17 | - | €228,629 | +€228,629 | |
| Financial debts | 170/4 | - | €228,629 | +€228,629 | |
| Amounts payable within one year | 42/48 | €83,571 | €102,175 | +€18,605 | +22.3% |
| Current portion of amounts payable after more than one year | 42 | €0 | €39,517 | +€39,517 | |
| Trade debts | 44 | €33,555 | €24,326 | -€9,229 | -27.5% |
| Suppliers | 440/4 | €33,555 | €24,326 | -€9,229 | -27.5% |
| Advances received on contracts in progress | 46 | €16,574 | €14,126 | -€2,448 | -14.8% |
| Taxes, remuneration and social security | 45 | €33,441 | €24,207 | -€9,234 | -27.6% |
| Taxes | 450/3 | €18,844 | €15,809 | -€3,035 | -16.1% |
| Remuneration and social security | 454/9 | €14,597 | €8,398 | -€6,199 | -42.5% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €2,777 | €1,506 | -€1,271 | -45.8% |
| Remuneration, social security and pensions | 62 | €129,892 | €130,707 | +€816 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126,370 | €88,073 | -€38,297 | -30.3% |
| Other operating charges | 640/8 | €11,421 | €13,853 | +€2,432 | +21.3% |
| Gross operating margin | 9900 | €474,004 | €538,701 | +€64,696 | +13.6% |
| Operating profit (loss) | 9901 | €206,322 | €306,067 | +€99,746 | +48.3% |
| Financial income | 75/76B | €1,404 | €739 | -€665 | -47.4% |
| Recurring financial income | 75 | €1,404 | €739 | -€665 | -47.4% |
| Financial charges | 65/66B | €11,211 | €23,550 | +€12,340 | +110.1% |
| Recurring financial charges | 65 | €11,211 | €23,550 | +€12,340 | +110.1% |
| Profit (loss) for the period before taxes | 9903 | €196,515 | €283,256 | +€86,741 | +44.1% |
| Income taxes | 67/77 | €48,914 | €89,689 | +€40,775 | +83.4% |
| Profit (loss) for the period | 9904 | €147,601 | €193,567 | +€45,966 | +31.1% |
| Profit (loss) for the period to be appropriated | 9905 | €147,601 | €193,567 | +€45,966 | +31.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.