Fagotvalk: 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.
What changed
Fagotvalk
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€64,615
2024 · €6,759+€57,856
Equity
€1.4m
2024 · €1.3m+€75,735
Cash
€195,703
2024 · €177,439+€18,264
Balance sheet total
€9.0m
2024 · €9.1m-€103,372
Largest movements
Assets
- Receivables within one year +€6.7m
up €6.7m (+39779.0%), from €16,748 to €6.7m
of which Other amounts receivable: +€6.7m
- Receivables after one year -€6.6m
down €6.6m (-100.0%), from €6.6m to €0
- Deferred charges and accrued income -€157,103
down €157,103 (-69.4%), from €226,288 to €69,185
Equity and liabilities
- Debts after one year -€7.5m
no longer reported in 2025 (was €7.5m)
- Current portion of long-term debt +€7.3m
up €7.3m (+3795.3%), from €193,000 to €7.5m
Income statement
- Financial charges -€122,630
down €122,630 (-29.7%), from €412,468 to €289,838
- Gross operating margin -€53,188
down €53,188 (-12.7%), from €417,703 to €364,515
- Taxes +€10,792
up €10,792, from -€150 to €10,641
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.
Result 2024
€6,759
Gross operating margin
-€53,188
Depreciation
-€1,727
Other operating charges
-€1,548
Financial income
+€2,480
Financial charges
+€122,630
Taxes
-€10,792
Result 2025
€64,615
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.
From operations
+€220,360
Investment
-€20,216
Financing
-€181,879
Cash 2024
€177,439
From operations (derived)
+€220,360
Net result for the year
+€64,615
Depreciation
+€47,753
Receivables after one year
+€6.6m
Receivables within one year
-€6.7m
Deferred charges and accrued income
+€157,103
Smaller working-capital items
-€4,702
Advances received
+€46,122
Accrued charges and deferred income
-€27,527
Investment (derived)
-€20,216
Investment in fixed assets (net)
-€20,216
Financing
-€181,879
Debts after one year
-€7.5m
Current portion of long-term debt
+€7.3m
Contributions, distributions and other
+€11,121
Cash 2025
€195,703
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,135,513 | €9,032,140 | -€103,372 | -1.1% |
| Fixed assets | 21/28 | €2,115,892 | €2,088,355 | -€27,537 | -1.3% |
| Tangible fixed assets | 22/27 | €2,115,892 | €2,088,355 | -€27,537 | -1.3% |
| Land and buildings | 22 | €2,115,892 | €2,088,355 | -€27,537 | -1.3% |
| Current assets | 29/58 | €7,019,621 | €6,943,786 | -€75,835 | -1.1% |
| Amounts receivable after more than one year | 29 | €6,599,145 | €0 | -€6.6m | -100.0% |
| Other amounts receivable | 291 | €6,599,145 | €0 | -€6.6m | -100.0% |
| Amounts receivable within one year | 40/41 | €16,748 | €6,678,897 | +€6.7m | +39779.0% |
| Trade receivables | 40 | €15,370 | €1,725 | -€13,645 | -88.8% |
| Other amounts receivable | 41 | €1,378 | €6,677,172 | +€6.7m | +484543.2% |
| Cash at bank and in hand | 54/58 | €177,439 | €195,703 | +€18,264 | +10.3% |
| Deferred charges and accrued income | 490/1 | €226,288 | €69,185 | -€157,103 | -69.4% |
| Total equity and liabilities | 10/49 | €9,135,513 | €9,032,140 | -€103,372 | -1.1% |
| Equity | 10/15 | €1,277,053 | €1,352,788 | +€75,735 | +5.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,257,053 | €1,321,667 | +€64,615 | +5.1% |
| Investment grants | 15 | - | €11,121 | +€11,121 | |
| Amounts payable | 17/49 | €7,858,460 | €7,679,353 | -€179,107 | -2.3% |
| Amounts payable after more than one year | 17 | €7,518,000 | - | -€7.5m | |
| Financial debts | 170/4 | €7,518,000 | - | -€7.5m | |
| Amounts payable within one year | 42/48 | €246,393 | €7,612,813 | +€7.4m | +2989.7% |
| Current portion of amounts payable after more than one year | 42 | €193,000 | €7,518,000 | +€7.3m | +3795.3% |
| Trade debts | 44 | €50,887 | €48,035 | -€2,852 | -5.6% |
| Suppliers | 440/4 | €50,887 | €48,035 | -€2,852 | -5.6% |
| Advances received on contracts in progress | 46 | - | €46,122 | +€46,122 | |
| Taxes, remuneration and social security | 45 | €2,507 | €656 | -€1,850 | -73.8% |
| Taxes | 450/3 | €2,507 | €656 | -€1,850 | -73.8% |
| Accrued charges and deferred income | 492/3 | €94,067 | €66,539 | -€27,527 | -29.3% |
| Non-recurring operating income | 76A | €50,706 | €10,049 | -€40,657 | -80.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,027 | €47,753 | +€1,727 | +3.8% |
| Other operating charges | 640/8 | €49,305 | €50,853 | +€1,548 | +3.1% |
| Gross operating margin | 9900 | €417,703 | €364,515 | -€53,188 | -12.7% |
| Operating profit (loss) | 9901 | €322,371 | €265,908 | -€56,463 | -17.5% |
| Financial income | 75/76B | €96,705 | €99,185 | +€2,480 | +2.6% |
| Recurring financial income | 75 | €96,705 | €99,185 | +€2,480 | +2.6% |
| Financial charges | 65/66B | €412,468 | €289,838 | -€122,630 | -29.7% |
| Recurring financial charges | 65 | €412,468 | €289,838 | -€122,630 | -29.7% |
| Profit (loss) for the period before taxes | 9903 | €6,608 | €75,256 | +€68,648 | +1038.8% |
| Income taxes | 67/77 | -€150 | €10,641 | +€10,792 | |
| Profit (loss) for the period | 9904 | €6,759 | €64,615 | +€57,856 | +856.0% |
| Profit (loss) for the period to be appropriated | 9905 | €6,759 | €64,615 | +€57,856 | +856.0% |
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.