FANGORN: 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.
FANGORN
Largest movements
- Receivables within one year +€1.8m
up €1.8m (+11304.1%), from €16,017 to €1.8m
of which Other amounts receivable: +€1.8m
- Current portion of long-term debt +€1.9m
up €1.9m (+699.5%), from €264,972 to €2.1m
- Short-term financial debts +€401,637
new in 2025: €401,637
- Other debts -€374,220
down €374,220 (-98.3%), from €380,847 to €6,628
- Debts after one year -€278,483
down €278,483 (-18.9%), from €1.5m to €1.2m
- Reserves +€145,527
up €145,527 (+122.2%), from €119,109 to €264,635
- Financial income +€400,000
up €400,000, from €0 to €400,000
- Gross operating margin -€135,991
down €135,991 (-677.3%), from -€20,079 to -€156,070
- Financial charges +€19,171
up €19,171 (+24.6%), from €78,027 to €97,198
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 | €2,266,023 | €4,076,981 | +€1.8m | +79.9% |
| Fixed assets | 21/28 | €2,250,000 | €2,250,000 | = | 0.0% |
| Financial fixed assets | 28 | €2,250,000 | €2,250,000 | = | 0.0% |
| Current assets | 29/58 | €16,023 | €1,826,981 | +€1.8m | +11302.5% |
| Amounts receivable within one year | 40/41 | €16,017 | €1,826,573 | +€1.8m | +11304.1% |
| Trade receivables | 40 | €16,017 | €0 | -€16,017 | -100.0% |
| Other amounts receivable | 41 | - | €1,826,573 | +€1.8m | |
| Cash at bank and in hand | 54/58 | €6 | €409 | +€403 | +6895.0% |
| Total equity and liabilities | 10/49 | €2,266,023 | €4,076,981 | +€1.8m | +79.9% |
| Equity | 10/15 | €124,109 | €269,635 | +€145,527 | +117.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €119,109 | €264,635 | +€145,527 | +122.2% |
| Distributable reserves | 133 | €119,109 | €264,635 | +€145,527 | +122.2% |
| Amounts payable | 17/49 | €2,141,914 | €3,807,346 | +€1.7m | +77.8% |
| Amounts payable after more than one year | 17 | €1,469,991 | €1,191,508 | -€278,483 | -18.9% |
| Financial debts | 170/4 | €1,469,991 | €1,191,508 | -€278,483 | -18.9% |
| Amounts payable within one year | 42/48 | €648,139 | €2,551,570 | +€1.9m | +293.7% |
| Current portion of amounts payable after more than one year | 42 | €264,972 | €2,118,454 | +€1.9m | +699.5% |
| Financial debts | 43 | - | €401,637 | +€401,637 | |
| Credit institutions | 430/8 | - | €401,637 | +€401,637 | |
| Trade debts | 44 | €2,320 | €24,851 | +€22,531 | +971.3% |
| Suppliers | 440/4 | €2,320 | €24,851 | +€22,531 | +971.3% |
| Other amounts payable | 47/48 | €380,847 | €6,628 | -€374,220 | -98.3% |
| Accrued charges and deferred income | 492/3 | €23,785 | €64,268 | +€40,484 | +170.2% |
| Other operating charges | 640/8 | €1,100 | €1,206 | +€107 | +9.7% |
| Gross operating margin | 9900 | -€20,079 | -€156,070 | -€135,991 | -677.3% |
| Operating profit (loss) | 9901 | -€21,178 | -€157,276 | -€136,098 | -642.6% |
| Financial income | 75/76B | €0 | €400,000 | +€400,000 | |
| Recurring financial income | 75 | €0 | €400,000 | +€400,000 | |
| Financial charges | 65/66B | €78,027 | €97,198 | +€19,171 | +24.6% |
| Recurring financial charges | 65 | €78,027 | €97,198 | +€19,171 | +24.6% |
| Profit (loss) for the period before taxes | 9903 | -€99,205 | €145,527 | +€244,732 | |
| Profit (loss) for the period | 9904 | -€99,205 | €145,527 | +€244,732 | |
| Profit (loss) for the period to be appropriated | 9905 | -€99,205 | €145,527 | +€244,732 |
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 10 October 2026 via checked.be.