FG PAPER: what changed
Two fiscal 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.
FG PAPER
Largest movements
- Tangible fixed assets -€1,244
down €1,244 (-11.8%), from €10,512 to €9,268
- Cash -€617
down €617 (-74.3%), from €831 to €214
mainly Net result for the year (-€14,187) and Receivables within one year (-€507)
- Receivables within one year +€507
up €507 (+29.6%), from €1,712 to €2,218
of which Other amounts receivable: +€343
- Profit (loss) carried forward -€14,187
down €14,187 (-141.9%), from -€10,001 to -€24,188
- Other debts +€11,776
up €11,776 (+57.4%), from €20,516 to €32,291
- Trade debts +€1,288
up €1,288 (+57.6%), from €2,234 to €3,522
- Tax, wage and social debts -€231
down €231 (-75.5%), from €306 to €75
- Gross operating margin +€6,921
up €6,921 (+36.3%), from -€19,090 to -€12,169
- Other operating charges -€356
down €356 (-35.4%), from €1,007 to €651
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 | €13,055 | €11,700 | -€1,355 | -10.4% |
| Fixed assets | 21/28 | €10,512 | €9,268 | -€1,244 | -11.8% |
| Tangible fixed assets | 22/27 | €10,512 | €9,268 | -€1,244 | -11.8% |
| Other tangible fixed assets | 26 | €10,512 | €9,268 | -€1,244 | -11.8% |
| Current assets | 29/58 | €2,543 | €2,432 | -€111 | -4.4% |
| Amounts receivable within one year | 40/41 | €1,712 | €2,218 | +€507 | +29.6% |
| Trade receivables | 40 | €1,016 | €1,179 | +€163 | +16.1% |
| Other amounts receivable | 41 | €696 | €1,039 | +€343 | +49.4% |
| Cash at bank and in hand | 54/58 | €831 | €214 | -€617 | -74.3% |
| Total equity and liabilities | 10/49 | €13,055 | €11,700 | -€1,355 | -10.4% |
| Equity | 10/15 | -€10,001 | -€24,188 | -€14,187 | -141.9% |
| Profit (loss) carried forward | 14 | -€10,001 | -€24,188 | -€14,187 | -141.9% |
| Amounts payable | 17/49 | €23,056 | €35,888 | +€12,832 | +55.7% |
| Amounts payable within one year | 42/48 | €23,056 | €35,888 | +€12,832 | +55.7% |
| Trade debts | 44 | €2,234 | €3,522 | +€1,288 | +57.6% |
| Suppliers | 440/4 | €2,234 | €3,522 | +€1,288 | +57.6% |
| Taxes, remuneration and social security | 45 | €306 | €75 | -€231 | -75.5% |
| Taxes | 450/3 | €306 | €75 | -€231 | -75.5% |
| Other amounts payable | 47/48 | €20,516 | €32,291 | +€11,776 | +57.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,244 | €1,244 | = | 0.0% |
| Other operating charges | 640/8 | €1,007 | €651 | -€356 | -35.4% |
| Gross operating margin | 9900 | -€19,090 | -€12,169 | +€6,921 | +36.3% |
| Operating profit (loss) | 9901 | -€21,341 | -€14,064 | +€7,277 | +34.1% |
| Financial charges | 65/66B | €47 | €48 | +€1 | +3.1% |
| Recurring financial charges | 65 | €47 | €48 | +€1 | +3.1% |
| Profit (loss) for the period before taxes | 9903 | -€21,388 | -€14,112 | +€7,276 | +34.0% |
| Income taxes | 67/77 | €174 | €75 | -€100 | -57.1% |
| Profit (loss) for the period | 9904 | -€21,562 | -€14,187 | +€7,375 | +34.2% |
| Transfer from tax-exempt reserves | 789 | €1,860 | - | -€1,860 | |
| Profit (loss) for the period to be appropriated | 9905 | -€19,702 | -€14,187 | +€5,515 | +28.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.