FAGRE: 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.
FAGRE
Largest movements
- Tangible fixed assets -€85,936
down €85,936 (-4.4%), from €1.9m to €1.9m
of which Land and buildings: -€79,728
- Profit (loss) carried forward -€81,826
down €81,826 (-17.5%), from -€466,945 to -€548,771
- Revaluation surpluses -€50,966
down €50,966 (-6.4%), from €798,465 to €747,499
- Reserves +€50,966
up €50,966 (+22.3%), from €228,463 to €279,429
of which Distributable reserves: +€50,966
- Gross operating margin +€8,566
up €8,566 (+208.9%), from €4,100 to €12,666
- Other operating charges -€1,959
down €1,959 (-32.5%), from €6,036 to €4,077
- Depreciation -€309
down €309 (-0.4%), from €86,245 to €85,936
- Financial charges -€242
down €242 (-5.1%), from €4,721 to €4,479
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 | €1,940,983 | €1,854,710 | -€86,272 | -4.4% |
| Fixed assets | 21/28 | €1,938,551 | €1,852,615 | -€85,936 | -4.4% |
| Tangible fixed assets | 22/27 | €1,938,414 | €1,852,478 | -€85,936 | -4.4% |
| Land and buildings | 22 | €1,898,766 | €1,819,038 | -€79,728 | -4.2% |
| Plant, machinery and equipment | 23 | €21,402 | €18,177 | -€3,225 | -15.1% |
| Furniture and vehicles | 24 | €18,246 | €15,263 | -€2,983 | -16.3% |
| Financial fixed assets | 28 | €137 | €137 | = | 0.0% |
| Current assets | 29/58 | €2,432 | €2,096 | -€336 | -13.8% |
| Amounts receivable within one year | 40/41 | €1,963 | €1,963 | = | 0.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €1,963 | €1,963 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €127 | €115 | -€12 | -9.6% |
| Deferred charges and accrued income | 490/1 | €342 | €18 | -€324 | -94.6% |
| Total equity and liabilities | 10/49 | €1,940,983 | €1,854,710 | -€86,272 | -4.4% |
| Equity | 10/15 | €1,397,288 | €1,315,462 | -€81,826 | -5.9% |
| Contributions | 10/11 | €837,304 | €837,304 | = | 0.0% |
| Revaluation surpluses | 12 | €798,465 | €747,499 | -€50,966 | -6.4% |
| Reserves | 13 | €228,463 | €279,429 | +€50,966 | +22.3% |
| Non-distributable reserves | 130/1 | €3,963 | €3,963 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,963 | €3,963 | = | 0.0% |
| Distributable reserves | 133 | €224,501 | €275,466 | +€50,966 | +22.7% |
| Profit (loss) carried forward | 14 | -€466,945 | -€548,771 | -€81,826 | -17.5% |
| Provisions and deferred taxes | 16 | €38,672 | €38,672 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €38,672 | €38,672 | = | 0.0% |
| Pensions and similar obligations | 160 | €38,672 | €38,672 | = | 0.0% |
| Amounts payable | 17/49 | €505,023 | €500,576 | -€4,446 | -0.9% |
| Amounts payable after more than one year | 17 | €304,641 | €285,401 | -€19,241 | -6.3% |
| Financial debts | 170/4 | €304,641 | €285,401 | -€19,241 | -6.3% |
| Amounts payable within one year | 42/48 | €200,381 | €215,176 | +€14,794 | +7.4% |
| Current portion of amounts payable after more than one year | 42 | €19,241 | €19,241 | = | 0.0% |
| Trade debts | 44 | €560 | €1,126 | +€566 | +101.1% |
| Suppliers | 440/4 | €560 | €1,126 | +€566 | +101.1% |
| Other amounts payable | 47/48 | €180,581 | €194,809 | +€14,228 | +7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,245 | €85,936 | -€309 | -0.4% |
| Other operating charges | 640/8 | €6,036 | €4,077 | -€1,959 | -32.5% |
| Gross operating margin | 9900 | €4,100 | €12,666 | +€8,566 | +208.9% |
| Operating profit (loss) | 9901 | -€88,181 | -€77,347 | +€10,834 | +12.3% |
| Financial charges | 65/66B | €4,721 | €4,479 | -€242 | -5.1% |
| Recurring financial charges | 65 | €4,721 | €4,479 | -€242 | -5.1% |
| Profit (loss) for the period before taxes | 9903 | -€92,902 | -€81,826 | +€11,076 | +11.9% |
| Profit (loss) for the period | 9904 | -€92,902 | -€81,826 | +€11,076 | +11.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€92,902 | -€81,826 | +€11,076 | +11.9% |
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 29 September 2026 via checked.be.