FAZOEGE: 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.
FAZOEGE
Largest movements
- Tangible fixed assets -€64,211
down €64,211 (-5.1%), from €1.3m to €1.2m
of which Land and buildings: -€39,944
- Stocks and contracts +€44,854
up €44,854 (+24.2%), from €185,529 to €230,383
- Receivables within one year -€16,283
down €16,283 (-36.6%), from €44,515 to €28,232
of which Trade receivables: -€14,750
- Debts after one year -€78,419
down €78,419 (-6.8%), from €1.1m to €1.1m
- Trade debts +€34,895
up €34,895 (+32.2%), from €108,531 to €143,426
- Other debts +€29,348
up €29,348 (+22.0%), from €133,490 to €162,838
- Profit (loss) carried forward -€17,992
down €17,992 (-64.0%), from €28,121 to €10,129
- Tax, wage and social debts -€17,269
down €17,269 (-27.7%), from €62,410 to €45,141
of which Taxes: -€18,697
- Depreciation -€69,641
down €69,641 (-51.7%), from €134,691 to €65,051
- Gross operating margin +€33,864
up €33,864 (+7.7%), from €437,196 to €471,060
- Taxes +€24,857
up €24,857 (+109.3%), from €22,750 to €47,607
- Financial charges +€11,836
up €11,836 (+47.7%), from €24,814 to €36,651
- Other operating charges -€7,758
down €7,758 (-48.6%), from €15,978 to €8,220
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 | €1,577,966 | €1,530,820 | -€47,146 | -3.0% |
| Fixed assets | 21/28 | €1,250,602 | €1,186,391 | -€64,211 | -5.1% |
| Tangible fixed assets | 22/27 | €1,250,102 | €1,185,891 | -€64,211 | -5.1% |
| Land and buildings | 22 | €1,163,792 | €1,123,848 | -€39,944 | -3.4% |
| Plant, machinery and equipment | 23 | €28,011 | €17,197 | -€10,813 | -38.6% |
| Furniture and vehicles | 24 | €58,299 | €44,845 | -€13,454 | -23.1% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €327,364 | €344,429 | +€17,065 | +5.2% |
| Stocks and contracts in progress | 3 | €185,529 | €230,383 | +€44,854 | +24.2% |
| Stocks | 30/36 | €185,529 | €230,383 | +€44,854 | +24.2% |
| Amounts receivable within one year | 40/41 | €44,515 | €28,232 | -€16,283 | -36.6% |
| Trade receivables | 40 | €42,982 | €28,232 | -€14,750 | -34.3% |
| Other amounts receivable | 41 | €1,532 | - | -€1,532 | |
| Cash at bank and in hand | 54/58 | €97,321 | €85,814 | -€11,507 | -11.8% |
| Total equity and liabilities | 10/49 | €1,577,966 | €1,530,820 | -€47,146 | -3.0% |
| Equity | 10/15 | €48,581 | €30,589 | -€17,992 | -37.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,121 | €10,129 | -€17,992 | -64.0% |
| Amounts payable | 17/49 | €1,529,385 | €1,500,231 | -€29,154 | -1.9% |
| Amounts payable after more than one year | 17 | €1,148,826 | €1,070,407 | -€78,419 | -6.8% |
| Financial debts | 170/4 | €1,148,826 | €1,070,407 | -€78,419 | -6.8% |
| Amounts payable within one year | 42/48 | €380,559 | €429,824 | +€49,265 | +12.9% |
| Current portion of amounts payable after more than one year | 42 | €76,128 | €78,419 | +€2,291 | +3.0% |
| Trade debts | 44 | €108,531 | €143,426 | +€34,895 | +32.2% |
| Suppliers | 440/4 | €108,531 | €143,426 | +€34,895 | +32.2% |
| Taxes, remuneration and social security | 45 | €62,410 | €45,141 | -€17,269 | -27.7% |
| Taxes | 450/3 | €34,435 | €15,737 | -€18,697 | -54.3% |
| Remuneration and social security | 454/9 | €27,976 | €29,404 | +€1,428 | +5.1% |
| Other amounts payable | 47/48 | €133,490 | €162,838 | +€29,348 | +22.0% |
| Remuneration, social security and pensions | 62 | €145,328 | €151,524 | +€6,196 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €134,691 | €65,051 | -€69,641 | -51.7% |
| Other operating charges | 640/8 | €15,978 | €8,220 | -€7,758 | -48.6% |
| Non-recurring operating charges | 66A | €479 | - | -€479 | |
| Gross operating margin | 9900 | €437,196 | €471,060 | +€33,864 | +7.7% |
| Operating profit (loss) | 9901 | €140,720 | €246,265 | +€105,545 | +75.0% |
| Financial income | 75/76B | €11 | - | -€11 | |
| Recurring financial income | 75 | €11 | - | -€11 | |
| Financial charges | 65/66B | €24,814 | €36,651 | +€11,836 | +47.7% |
| Recurring financial charges | 65 | €24,814 | €36,651 | +€11,836 | +47.7% |
| Profit (loss) for the period before taxes | 9903 | €115,918 | €209,615 | +€93,697 | +80.8% |
| Income taxes | 67/77 | €22,750 | €47,607 | +€24,857 | +109.3% |
| Profit (loss) for the period | 9904 | €93,168 | €162,008 | +€68,840 | +73.9% |
| Profit (loss) for the period to be appropriated | 9905 | €93,168 | €162,008 | +€68,840 | +73.9% |
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.