FÉ-GO: 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.
FÉ-GO
Largest movements
- Stocks and contracts +€67,200
new in 2025: €67,200
- Tangible fixed assets -€6,130
down €6,130 (-34.5%), from €17,755 to €11,625
- Receivables within one year -€4,002
down €4,002 (-4.2%), from €94,608 to €90,605
of which Trade receivables: -€15,695
- Deferred charges and accrued income +€3,973
up €3,973 (+357%), from €1,114 to €5,087
- Cash -€2,391
down €2,391 (-6.0%), from €39,997 to €37,606
mainly Stocks and contracts (-€67,200) and Tax, wage and social debts (-€12,714)
- Other debts +€55,000
new in 2025: €55,000
- Reserves +€15,776
up €15,776 (+18.2%), from €86,773 to €102,549
- Tax, wage and social debts -€12,714
down €12,714 (-53.1%), from €23,937 to €11,223
of which Taxes: -€12,714
- Trade debts +€5,539
up €5,539 (+160%), from €3,453 to €8,992
- Debts after one year -€4,833
down €4,833 (-19.5%), from €24,833 to €20,000
- Gross operating margin -€10,118
down €10,118 (-23.3%), from €43,399 to €33,281
- Taxes -€2,796
down €2,796 (-32.9%), from €8,487 to €5,692
- Other operating charges +€1,308
up €1,308 (+194%), from €674 to €1,983
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 | €153,474 | €212,124 | +€58,650 | +38.2% |
| Fixed assets | 21/28 | €17,755 | €11,625 | -€6,130 | -34.5% |
| Tangible fixed assets | 22/27 | €17,755 | €11,625 | -€6,130 | -34.5% |
| Furniture and vehicles | 24 | €17,755 | €11,625 | -€6,130 | -34.5% |
| Current assets | 29/58 | €135,719 | €200,499 | +€64,780 | +47.7% |
| Stocks and contracts in progress | 3 | - | €67,200 | +€67,200 | |
| Stocks | 30/36 | - | €67,200 | +€67,200 | |
| Amounts receivable within one year | 40/41 | €94,608 | €90,605 | -€4,002 | -4.2% |
| Trade receivables | 40 | €15,695 | - | -€15,695 | |
| Other amounts receivable | 41 | €78,913 | €90,605 | +€11,692 | +14.8% |
| Cash at bank and in hand | 54/58 | €39,997 | €37,606 | -€2,391 | -6.0% |
| Deferred charges and accrued income | 490/1 | €1,114 | €5,087 | +€3,973 | +357% |
| Total equity and liabilities | 10/49 | €153,474 | €212,124 | +€58,650 | +38.2% |
| Equity | 10/15 | €92,773 | €108,549 | +€15,776 | +17.0% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €86,773 | €102,549 | +€15,776 | +18.2% |
| Distributable reserves | 133 | €86,773 | €102,549 | +€15,776 | +18.2% |
| Amounts payable | 17/49 | €60,700 | €103,575 | +€42,875 | +70.6% |
| Amounts payable after more than one year | 17 | €24,833 | €20,000 | -€4,833 | -19.5% |
| Financial debts | 170/4 | €24,833 | €20,000 | -€4,833 | -19.5% |
| Amounts payable within one year | 42/48 | €35,567 | €83,275 | +€47,708 | +134% |
| Current portion of amounts payable after more than one year | 42 | €8,178 | €8,060 | -€118 | -1.4% |
| Trade debts | 44 | €3,453 | €8,992 | +€5,539 | +160% |
| Suppliers | 440/4 | €3,453 | €8,992 | +€5,539 | +160% |
| Taxes, remuneration and social security | 45 | €23,937 | €11,223 | -€12,714 | -53.1% |
| Taxes | 450/3 | €21,937 | €9,223 | -€12,714 | -58.0% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | - | €55,000 | +€55,000 | |
| Accrued charges and deferred income | 492/3 | €300 | €300 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €2,016 | €2,064 | +€48 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,121 | €7,137 | +€16 | +0.2% |
| Other operating charges | 640/8 | €674 | €1,983 | +€1,308 | +194% |
| Non-recurring operating charges | 66A | - | €248 | +€248 | |
| Gross operating margin | 9900 | €43,399 | €33,281 | -€10,118 | -23.3% |
| Operating profit (loss) | 9901 | €33,587 | €21,850 | -€11,737 | -34.9% |
| Financial income | 75/76B | €4 | €0 | -€4 | -98.4% |
| Recurring financial income | 75 | €4 | €0 | -€4 | -98.4% |
| Financial charges | 65/66B | €465 | €383 | -€82 | -17.7% |
| Recurring financial charges | 65 | €465 | €383 | -€82 | -17.7% |
| Profit (loss) for the period before taxes | 9903 | €33,127 | €21,467 | -€11,659 | -35.2% |
| Income taxes | 67/77 | €8,487 | €5,692 | -€2,796 | -32.9% |
| Profit (loss) for the period | 9904 | €24,640 | €15,776 | -€8,864 | -36.0% |
| Profit (loss) for the period to be appropriated | 9905 | €24,640 | €15,776 | -€8,864 | -36.0% |
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 22 October 2026 via checked.be.