FGH: 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.
FGH
Largest movements
- Receivables within one year +€72,885
up €72,885 (+43.7%), from €166,862 to €239,748
of which Trade receivables: +€81,405
- Advances received +€54,450
new in 2025: €54,450
- Reserves +€37,860
up €37,860 (+20.4%), from €185,476 to €223,336
of which Distributable reserves: +€37,860
- Other debts -€25,544
down €25,544 (-20.6%), from €124,159 to €98,615
- Tax, wage and social debts +€22,436
up €22,436 (+231%), from €9,708 to €32,144
- Trade debts +€11,050
up €11,050 (+8.5%), from €129,767 to €140,817
- Gross operating margin +€41,085
up €41,085 (+47.0%), from €87,377 to €128,462
- Taxes +€15,072
up €15,072 (+88.3%), from €17,072 to €32,144
- Other operating charges -€5,959
down €5,959 (-86.6%), from €6,884 to €925
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 | €720,715 | €798,984 | +€78,269 | +10.9% |
| Fixed assets | 21/28 | €541,488 | €543,730 | +€2,241 | +0.4% |
| Tangible fixed assets | 22/27 | €541,488 | €543,730 | +€2,241 | +0.4% |
| Land and buildings | 22 | €532,036 | €528,667 | -€3,369 | -0.6% |
| Plant, machinery and equipment | 23 | - | €929 | +€929 | |
| Furniture and vehicles | 24 | €9,453 | €14,134 | +€4,681 | +49.5% |
| Current assets | 29/58 | €179,227 | €255,254 | +€76,028 | +42.4% |
| Amounts receivable within one year | 40/41 | €166,862 | €239,748 | +€72,885 | +43.7% |
| Trade receivables | 40 | €140,460 | €221,865 | +€81,405 | +58.0% |
| Other amounts receivable | 41 | €26,402 | €17,882 | -€8,520 | -32.3% |
| Cash at bank and in hand | 54/58 | €12,364 | €15,507 | +€3,142 | +25.4% |
| Total equity and liabilities | 10/49 | €720,715 | €798,984 | +€78,269 | +10.9% |
| Equity | 10/15 | €191,633 | €229,493 | +€37,860 | +19.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €185,476 | €223,336 | +€37,860 | +20.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €183,616 | €221,476 | +€37,860 | +20.6% |
| Profit (loss) carried forward | 14 | -€6,243 | -€6,243 | = | 0.0% |
| Amounts payable | 17/49 | €529,082 | €569,491 | +€40,409 | +7.6% |
| Amounts payable after more than one year | 17 | €216,643 | €205,915 | -€10,728 | -5.0% |
| Financial debts | 170/4 | €216,643 | €205,915 | -€10,728 | -5.0% |
| Amounts payable within one year | 42/48 | €306,332 | €362,413 | +€56,081 | +18.3% |
| Current portion of amounts payable after more than one year | 42 | €42,699 | €36,387 | -€6,312 | -14.8% |
| Trade debts | 44 | €129,767 | €140,817 | +€11,050 | +8.5% |
| Suppliers | 440/4 | €129,767 | €140,817 | +€11,050 | +8.5% |
| Advances received on contracts in progress | 46 | - | €54,450 | +€54,450 | |
| Taxes, remuneration and social security | 45 | €9,708 | €32,144 | +€22,436 | +231% |
| Taxes | 450/3 | €9,708 | €32,144 | +€22,436 | +231% |
| Other amounts payable | 47/48 | €124,159 | €98,615 | -€25,544 | -20.6% |
| Accrued charges and deferred income | 492/3 | €6,107 | €1,162 | -€4,945 | -81.0% |
| Non-recurring operating income | 76A | - | €17,861 | +€17,861 | |
| Remuneration, social security and pensions | 62 | - | €501 | +€501 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,473 | €44,048 | -€425 | -1.0% |
| Other operating charges | 640/8 | €6,884 | €925 | -€5,959 | -86.6% |
| Gross operating margin | 9900 | €87,377 | €128,462 | +€41,085 | +47.0% |
| Operating profit (loss) | 9901 | €36,020 | €82,989 | +€46,968 | +130% |
| Financial income | 75/76B | €0 | €0 | +€0 | +2,400% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +2,400% |
| Financial charges | 65/66B | €11,916 | €12,985 | +€1,069 | +9.0% |
| Recurring financial charges | 65 | €11,916 | €12,985 | +€1,069 | +9.0% |
| Profit (loss) for the period before taxes | 9903 | €24,104 | €70,004 | +€45,900 | +190% |
| Income taxes | 67/77 | €17,072 | €32,144 | +€15,072 | +88.3% |
| Profit (loss) for the period | 9904 | €7,032 | €37,860 | +€30,828 | +438% |
| Profit (loss) for the period to be appropriated | 9905 | €7,032 | €37,860 | +€30,828 | +438% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.