FAGOD: 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.
FAGOD
Largest movements
- Receivables within one year +€23,723
up €23,723 (+6.0%), from €394,840 to €418,562
of which Other amounts receivable: +€15,416
- Cash -€5,233
down €5,233 (-78.5%), from €6,667 to €1,434
mainly Tax, wage and social debts (-€47,671) and Receivables within one year (-€23,723)
- Reserves +€67,714
up €67,714 (+21.6%), from €313,690 to €381,404
- Tax, wage and social debts -€47,671
down €47,671 (-46.6%), from €102,227 to €54,556
of which Taxes: -€47,671
- Gross operating margin +€20,875
up €20,875 (+26.9%), from €77,634 to €98,509
- Taxes +€3,955
up €3,955 (+23.8%), from €16,609 to €20,565
- Depreciation +€1,878
up €1,878 (+28.6%), from €6,561 to €8,439
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 | €422,566 | €442,698 | +€20,131 | +4.8% |
| Fixed assets | 21/28 | €21,060 | €22,702 | +€1,641 | +7.8% |
| Tangible fixed assets | 22/27 | €21,060 | €22,702 | +€1,641 | +7.8% |
| Plant, machinery and equipment | 23 | €755 | €553 | -€202 | -26.7% |
| Furniture and vehicles | 24 | €20,305 | €22,148 | +€1,843 | +9.1% |
| Current assets | 29/58 | €401,506 | €419,996 | +€18,490 | +4.6% |
| Amounts receivable within one year | 40/41 | €394,840 | €418,562 | +€23,723 | +6.0% |
| Trade receivables | 40 | €15,730 | €24,037 | +€8,307 | +52.8% |
| Other amounts receivable | 41 | €379,110 | €394,525 | +€15,416 | +4.1% |
| Cash at bank and in hand | 54/58 | €6,667 | €1,434 | -€5,233 | -78.5% |
| Total equity and liabilities | 10/49 | €422,566 | €442,698 | +€20,131 | +4.8% |
| Equity | 10/15 | €316,690 | €384,404 | +€67,714 | +21.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €313,690 | €381,404 | +€67,714 | +21.6% |
| Distributable reserves | 133 | €313,690 | €381,404 | +€67,714 | +21.6% |
| Amounts payable | 17/49 | €105,877 | €58,294 | -€47,582 | -44.9% |
| Amounts payable within one year | 42/48 | €105,877 | €58,294 | -€47,582 | -44.9% |
| Trade debts | 44 | €156 | €3,738 | +€3,582 | +2289.9% |
| Suppliers | 440/4 | €156 | €3,738 | +€3,582 | +2289.9% |
| Taxes, remuneration and social security | 45 | €102,227 | €54,556 | -€47,671 | -46.6% |
| Taxes | 450/3 | €98,762 | €51,091 | -€47,671 | -48.3% |
| Remuneration and social security | 454/9 | €3,465 | €3,465 | = | 0.0% |
| Other amounts payable | 47/48 | €3,493 | - | -€3,493 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,561 | €8,439 | +€1,878 | +28.6% |
| Other operating charges | 640/8 | €987 | €1,015 | +€28 | +2.9% |
| Gross operating margin | 9900 | €77,634 | €98,509 | +€20,875 | +26.9% |
| Operating profit (loss) | 9901 | €70,086 | €89,055 | +€18,969 | +27.1% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €576 | €777 | +€201 | +34.8% |
| Recurring financial charges | 65 | €576 | €777 | +€201 | +34.8% |
| Profit (loss) for the period before taxes | 9903 | €69,510 | €88,278 | +€18,768 | +27.0% |
| Income taxes | 67/77 | €16,609 | €20,565 | +€3,955 | +23.8% |
| Profit (loss) for the period | 9904 | €52,901 | €67,714 | +€14,813 | +28.0% |
| Profit (loss) for the period to be appropriated | 9905 | €52,901 | €67,714 | +€14,813 | +28.0% |
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 7 October 2026 via checked.be.