FEDERGON: 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.
What changed
FEDERGON
NACE 94.110, Activities of business and employers' organisations
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.0m
2024 · €149,402+€874,342
Equity
€12.9m
2024 · €11.9m+€1.0m
Cash
€176,575
2024 · €130,676+€45,899
Balance sheet total
€13.9m
2024 · €12.9m+€1.0m
Largest movements
Assets
- Deferred charges and accrued income +€1.0m
up €1.0m (+111.6%), from €928,395 to €2.0m
Equity and liabilities
- Reserves +€1.0m
up €1.0m (+18.0%), from €5.5m to €6.5m
Income statement
- Purchases and services +€4.2m
new in 2025: €4.2m
- Turnover +€2.0m
new in 2025: €2.0m
- Gross operating margin +€1.2m
up €1.2m (+51.9%), from €2.2m to €3.4m
- Financial charges +€331,202
up €331,202, from -€296,033 to €35,170
- Financial income +€103,756
up €103,756 (+18.3%), from €568,022 to €671,778
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.
Result 2024
€149,402
Gross operating margin
+€1.2m
Staff costs
-€39,430
Depreciation
-€21,912
Other operating charges
+€11,773
Financial income
+€103,756
Financial charges
-€331,202
Taxes
-€42
Result 2025
€1.0m
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.
From operations
+€221,174
Investment
-€175,275
Financing
€0
Cash 2024
€130,676
From operations (derived)
+€221,174
Net result for the year
+€1.0m
Depreciation
+€209,880
Receivables after one year
-€20,878
Receivables within one year
+€44,888
Deferred charges and accrued income
-€1.0m
Provisions
-€1,772
Trade debts
-€5,627
Tax, wage and social debts
+€27,442
Accrued charges and deferred income
-€20,000
Investment (derived)
-€175,275
Investment in fixed assets (net)
-€232,434
Current investments
+€57,159
Cash 2025
€176,575
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,859,637 | €13,883,425 | +€1.0m | +8.0% |
| Fixed assets | 21/28 | €604,422 | €626,977 | +€22,555 | +3.7% |
| Intangible fixed assets | 21 | €161,708 | €120,728 | -€40,980 | -25.3% |
| Tangible fixed assets | 22/27 | €442,714 | €506,249 | +€63,535 | +14.4% |
| Plant, machinery and equipment | 23 | €432,821 | €492,137 | +€59,316 | +13.7% |
| Furniture and vehicles | 24 | €9,893 | €14,112 | +€4,219 | +42.6% |
| Current assets | 29/58 | €12,255,215 | €13,256,448 | +€1.0m | +8.2% |
| Amounts receivable after more than one year | 29 | - | €20,878 | +€20,878 | |
| Other amounts receivable | 291 | - | €20,878 | +€20,878 | |
| Amounts receivable within one year | 40/41 | €527,949 | €483,062 | -€44,888 | -8.5% |
| Trade receivables | 40 | €360,967 | €325,758 | -€35,209 | -9.8% |
| Other amounts receivable | 41 | €166,982 | €157,303 | -€9,679 | -5.8% |
| Current investments | 50/53 | €10,668,195 | €10,611,035 | -€57,159 | -0.5% |
| Cash at bank and in hand | 54/58 | €130,676 | €176,575 | +€45,899 | +35.1% |
| Deferred charges and accrued income | 490/1 | €928,395 | €1,964,898 | +€1.0m | +111.6% |
| Total equity and liabilities | 10/49 | €12,859,637 | €13,883,425 | +€1.0m | +8.0% |
| Equity | 10/15 | €11,891,944 | €12,915,688 | +€1.0m | +8.6% |
| Reserves | 13 | €5,542,004 | €6,542,004 | +€1.0m | +18.0% |
| Profit (loss) carried forward | 14 | €6,349,940 | €6,373,684 | +€23,744 | +0.4% |
| Provisions and deferred taxes | 16 | €17,254 | €15,482 | -€1,772 | -10.3% |
| Provisions for liabilities and charges | 160/5 | €17,254 | €15,482 | -€1,772 | -10.3% |
| Pensions and similar obligations | 160 | €17,254 | €15,482 | -€1,772 | -10.3% |
| Amounts payable | 17/49 | €950,440 | €952,255 | +€1,815 | +0.2% |
| Amounts payable within one year | 42/48 | €930,440 | €952,255 | +€21,815 | +2.3% |
| Trade debts | 44 | €656,963 | €651,336 | -€5,627 | -0.9% |
| Suppliers | 440/4 | €656,963 | €651,336 | -€5,627 | -0.9% |
| Taxes, remuneration and social security | 45 | €273,477 | €300,919 | +€27,442 | +10.0% |
| Remuneration and social security | 454/9 | €273,477 | €300,919 | +€27,442 | +10.0% |
| Accrued charges and deferred income | 492/3 | €20,000 | - | -€20,000 | |
| Turnover | 70 | - | €1,973,710 | +€2.0m | |
| Non-recurring operating income | 76A | - | €1,000,000 | +€1.0m | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €4,169,973 | +€4.2m | |
| Remuneration, social security and pensions | 62 | €2,663,642 | €2,703,072 | +€39,430 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €187,968 | €209,880 | +€21,912 | +11.7% |
| Other operating charges | 640/8 | €78,661 | €66,888 | -€11,773 | -15.0% |
| Gross operating margin | 9900 | €2,220,374 | €3,371,773 | +€1.2m | +51.9% |
| Operating profit (loss) | 9901 | -€709,897 | €391,933 | +€1.1m | |
| Financial income | 75/76B | €568,022 | €671,778 | +€103,756 | +18.3% |
| Recurring financial income | 75 | €568,022 | €671,778 | +€103,756 | +18.3% |
| Financial charges | 65/66B | -€296,033 | €35,170 | +€331,202 | |
| Recurring financial charges | 65 | -€296,033 | €35,170 | +€331,202 | |
| Profit (loss) for the period before taxes | 9903 | €154,157 | €1,028,541 | +€874,384 | +567.2% |
| Income taxes | 67/77 | €4,755 | €4,796 | +€42 | +0.9% |
| Profit (loss) for the period | 9904 | €149,402 | €1,023,744 | +€874,342 | +585.2% |
| Profit (loss) for the period to be appropriated | 9905 | €149,402 | €1,023,744 | +€874,342 | +585.2% |
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.