FAGOS: 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.
FAGOS
Largest movements
- Receivables within one year +€64,146
up €64,146 (+333.4%), from €19,238 to €83,384
of which Other amounts receivable: +€66,145
- Cash -€14,608
down €14,608 (-38.5%), from €37,920 to €23,312
mainly Receivables within one year (-€64,146) and Investment in fixed assets (net) (-€21,874)
- Tangible fixed assets +€10,140
up €10,140 (+46.0%), from €22,057 to €32,197
- Stocks and contracts +€5,338
up €5,338 (+26.7%), from €20,015 to €25,352
- Profit (loss) carried forward +€31,714
up €31,714 (+57.9%), from €54,797 to €86,511
- Trade debts +€25,559
up €25,559 (+507.5%), from €5,036 to €30,596
- Tax, wage and social debts +€7,397
up €7,397 (+46.8%), from €15,790 to €23,187
of which Taxes: +€5,639
- Gross operating margin -€10,066
down €10,066 (-6.9%), from €146,075 to €136,009
- Other operating charges +€6,171
up €6,171 (+180.2%), from €3,424 to €9,595
- Taxes -€2,547
down €2,547 (-22.1%), from €11,534 to €8,987
- Depreciation +€2,453
up €2,453 (+26.8%), from €9,160 to €11,613
- Staff costs -€1,785
down €1,785 (-2.4%), from €75,101 to €73,316
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 | €105,623 | €170,760 | +€65,137 | +61.7% |
| Fixed assets | 21/28 | €28,450 | €38,712 | +€10,261 | +36.1% |
| Tangible fixed assets | 22/27 | €22,057 | €32,197 | +€10,140 | +46.0% |
| Plant, machinery and equipment | 23 | €3,430 | €5,345 | +€1,914 | +55.8% |
| Furniture and vehicles | 24 | €4,034 | €7,743 | +€3,709 | +91.9% |
| Other tangible fixed assets | 26 | €14,593 | €19,109 | +€4,517 | +31.0% |
| Financial fixed assets | 28 | €6,393 | €6,515 | +€122 | +1.9% |
| Current assets | 29/58 | €77,173 | €132,049 | +€54,876 | +71.1% |
| Stocks and contracts in progress | 3 | €20,015 | €25,352 | +€5,338 | +26.7% |
| Stocks | 30/36 | €20,015 | €25,352 | +€5,338 | +26.7% |
| Amounts receivable within one year | 40/41 | €19,238 | €83,384 | +€64,146 | +333.4% |
| Trade receivables | 40 | €3,501 | €1,503 | -€1,999 | -57.1% |
| Other amounts receivable | 41 | €15,737 | €81,881 | +€66,145 | +420.3% |
| Cash at bank and in hand | 54/58 | €37,920 | €23,312 | -€14,608 | -38.5% |
| Total equity and liabilities | 10/49 | €105,623 | €170,760 | +€65,137 | +61.7% |
| Equity | 10/15 | €84,797 | €116,511 | +€31,714 | +37.4% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,797 | €86,511 | +€31,714 | +57.9% |
| Amounts payable | 17/49 | €20,826 | €54,250 | +€33,423 | +160.5% |
| Amounts payable within one year | 42/48 | €20,826 | €54,250 | +€33,423 | +160.5% |
| Financial debts | 43 | - | €467 | +€467 | |
| Credit institutions | 430/8 | - | €467 | +€467 | |
| Trade debts | 44 | €5,036 | €30,596 | +€25,559 | +507.5% |
| Suppliers | 440/4 | €5,036 | €30,596 | +€25,559 | +507.5% |
| Taxes, remuneration and social security | 45 | €15,790 | €23,187 | +€7,397 | +46.8% |
| Taxes | 450/3 | €12,966 | €18,605 | +€5,639 | +43.5% |
| Remuneration and social security | 454/9 | €2,824 | €4,583 | +€1,759 | +62.3% |
| Remuneration, social security and pensions | 62 | €75,101 | €73,316 | -€1,785 | -2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,160 | €11,613 | +€2,453 | +26.8% |
| Other operating charges | 640/8 | €3,424 | €9,595 | +€6,171 | +180.2% |
| Gross operating margin | 9900 | €146,075 | €136,009 | -€10,066 | -6.9% |
| Operating profit (loss) | 9901 | €58,390 | €41,485 | -€16,904 | -29.0% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €1,013 | €784 | -€229 | -22.6% |
| Recurring financial charges | 65 | €1,013 | €784 | -€229 | -22.6% |
| Profit (loss) for the period before taxes | 9903 | €57,377 | €40,701 | -€16,676 | -29.1% |
| Income taxes | 67/77 | €11,534 | €8,987 | -€2,547 | -22.1% |
| Profit (loss) for the period | 9904 | €45,843 | €31,714 | -€14,129 | -30.8% |
| Profit (loss) for the period to be appropriated | 9905 | €45,843 | €31,714 | -€14,129 | -30.8% |
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 11 October 2026 via checked.be.