FBGM: 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.
FBGM
Largest movements
- Receivables within one year -€19,357
down €19,357 (-22.2%), from €87,307 to €67,950
of which Other amounts receivable: -€42,268
- Cash -€14,353
down €14,353 (-63.3%), from €22,681 to €8,328
mainly Other debts (-€80,000) and Debts after one year (-€11,515)
- Tangible fixed assets -€5,460
down €5,460 (-32.7%), from €16,709 to €11,249
of which Furniture and vehicles: -€5,189
- Other debts -€80,000
no longer reported in 2025 (was €80,000)
- Profit (loss) carried forward +€52,517
up €52,517 (+34.4%), from €152,569 to €205,086
- Debts after one year -€11,515
down €11,515 (-23.5%), from €48,932 to €37,417
- Financial income +€22,014
up €22,014 (+74.2%), from €29,673 to €51,687
- Financial charges +€2,299
up €2,299 (+255%), from €903 to €3,202
- Depreciation -€1,106
down €1,106 (-16.8%), from €6,566 to €5,460
- Other operating charges +€322
up €322 (+23.5%), from €1,368 to €1,690
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.
Derived cash bridge
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 | €335,319 | €294,244 | -€41,075 | -12.2% |
| Fixed assets | 21/28 | €223,174 | €217,714 | -€5,460 | -2.4% |
| Tangible fixed assets | 22/27 | €16,709 | €11,249 | -€5,460 | -32.7% |
| Furniture and vehicles | 24 | €15,293 | €10,104 | -€5,189 | -33.9% |
| Other tangible fixed assets | 26 | €1,415 | €1,145 | -€270 | -19.1% |
| Financial fixed assets | 28 | €206,465 | €206,465 | = | 0.0% |
| Current assets | 29/58 | €112,145 | €76,529 | -€35,615 | -31.8% |
| Amounts receivable within one year | 40/41 | €87,307 | €67,950 | -€19,357 | -22.2% |
| Trade receivables | 40 | €35,034 | €57,945 | +€22,911 | +65.4% |
| Other amounts receivable | 41 | €52,273 | €10,005 | -€42,268 | -80.9% |
| Cash at bank and in hand | 54/58 | €22,681 | €8,328 | -€14,353 | -63.3% |
| Deferred charges and accrued income | 490/1 | €2,157 | €252 | -€1,905 | -88.3% |
| Total equity and liabilities | 10/49 | €335,319 | €294,244 | -€41,075 | -12.2% |
| Equity | 10/15 | €173,029 | €225,546 | +€52,517 | +30.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €152,569 | €205,086 | +€52,517 | +34.4% |
| Amounts payable | 17/49 | €162,289 | €68,698 | -€93,592 | -57.7% |
| Amounts payable after more than one year | 17 | €48,932 | €37,417 | -€11,515 | -23.5% |
| Financial debts | 170/4 | €48,932 | €37,417 | -€11,515 | -23.5% |
| Amounts payable within one year | 42/48 | €113,357 | €31,281 | -€82,076 | -72.4% |
| Current portion of amounts payable after more than one year | 42 | €12,598 | €11,515 | -€1,083 | -8.6% |
| Trade debts | 44 | €468 | €1,329 | +€861 | +184% |
| Suppliers | 440/4 | €468 | €1,329 | +€861 | +184% |
| Taxes, remuneration and social security | 45 | €20,291 | €18,436 | -€1,854 | -9.1% |
| Taxes | 450/3 | €17,291 | €15,436 | -€1,854 | -10.7% |
| Remuneration and social security | 454/9 | €3,000 | €3,000 | = | 0.0% |
| Other amounts payable | 47/48 | €80,000 | - | -€80,000 | |
| Non-recurring operating income | 76A | - | €10,645 | +€10,645 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,566 | €5,460 | -€1,106 | -16.8% |
| Other operating charges | 640/8 | €1,368 | €1,690 | +€322 | +23.5% |
| Gross operating margin | 9900 | €11,417 | €11,447 | +€30 | +0.3% |
| Operating profit (loss) | 9901 | €3,484 | €4,297 | +€813 | +23.4% |
| Financial income | 75/76B | €29,673 | €51,687 | +€22,014 | +74.2% |
| Recurring financial income | 75 | €29,673 | €51,687 | +€22,014 | +74.2% |
| Financial charges | 65/66B | €903 | €3,202 | +€2,299 | +255% |
| Recurring financial charges | 65 | €903 | €3,202 | +€2,299 | +255% |
| Profit (loss) for the period before taxes | 9903 | €32,254 | €52,782 | +€20,529 | +63.6% |
| Income taxes | 67/77 | €289 | €266 | -€23 | -8.0% |
| Profit (loss) for the period | 9904 | €31,965 | €52,517 | +€20,552 | +64.3% |
| Profit (loss) for the period to be appropriated | 9905 | €31,965 | €52,517 | +€20,552 | +64.3% |
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 15 October 2026 via checked.be.