FGMA: 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.
FGMA
Largest movements
- Deferred charges and accrued income +€17,960
up €17,960 (+1,061%), from €1,693 to €19,653
- Receivables within one year -€7,242
down €7,242 (-8.0%), from €90,082 to €82,840
of which Other amounts receivable: -€17,442
- Tangible fixed assets +€6,248
up €6,248 (+240%), from €2,600 to €8,848
of which Other tangible fixed assets: +€6,769
- Cash -€2,313
down €2,313 (-34.7%), from €6,676 to €4,363
mainly Deferred charges and accrued income (-€17,960) and Other debts (-€10,069)
- Profit (loss) carried forward +€23,003
up €23,003 (+4.4%), from -€527,994 to -€504,991
- Other debts -€10,069
down €10,069 (-1.6%), from €610,881 to €600,812
- Tax, wage and social debts +€2,747
up €2,747 (+97.0%), from €2,833 to €5,581
of which Remuneration and social security: +€2,050
- Financial charges -€520,412
down €520,412 (-99.8%), from €521,283 to €872
of which Non-recurring financial charges: -€520,439
- Gross operating margin +€33,913
up €33,913, from -€5,860 to €28,054
- Other operating charges +€2,240
up €2,240 (+375%), from €597 to €2,837
- Depreciation +€1,182
up €1,182 (+13,771%), from €9 to €1,190
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 | €101,179 | €115,704 | +€14,525 | +14.4% |
| Fixed assets | 21/28 | €2,600 | €8,848 | +€6,248 | +240% |
| Tangible fixed assets | 22/27 | €2,600 | €8,848 | +€6,248 | +240% |
| Plant, machinery and equipment | 23 | €2,600 | €2,078 | -€522 | -20.1% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | - | €6,769 | +€6,769 | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €98,579 | €106,856 | +€8,277 | +8.4% |
| Amounts receivable within one year | 40/41 | €90,082 | €82,840 | -€7,242 | -8.0% |
| Trade receivables | 40 | €72,640 | €82,840 | +€10,200 | +14.0% |
| Other amounts receivable | 41 | €17,442 | €0 | -€17,442 | -100% |
| Current investments | 50/53 | €128 | €0 | -€128 | -100% |
| Cash at bank and in hand | 54/58 | €6,676 | €4,363 | -€2,313 | -34.7% |
| Deferred charges and accrued income | 490/1 | €1,693 | €19,653 | +€17,960 | +1,061% |
| Total equity and liabilities | 10/49 | €101,179 | €115,704 | +€14,525 | +14.4% |
| Equity | 10/15 | -€524,994 | -€501,991 | +€23,003 | +4.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€527,994 | -€504,991 | +€23,003 | +4.4% |
| Amounts payable | 17/49 | €626,173 | €617,695 | -€8,478 | -1.4% |
| Amounts payable within one year | 42/48 | €626,173 | €617,695 | -€8,478 | -1.4% |
| Trade debts | 44 | €12,459 | €11,302 | -€1,157 | -9.3% |
| Suppliers | 440/4 | €12,459 | €11,302 | -€1,157 | -9.3% |
| Taxes, remuneration and social security | 45 | €2,833 | €5,581 | +€2,747 | +97.0% |
| Taxes | 450/3 | €2,833 | €3,531 | +€697 | +24.6% |
| Remuneration and social security | 454/9 | €0 | €2,050 | +€2,050 | |
| Other amounts payable | 47/48 | €610,881 | €600,812 | -€10,069 | -1.6% |
| Non-recurring operating income | 76A | €8,125 | €0 | -€8,125 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9 | €1,190 | +€1,182 | +13,771% |
| Other operating charges | 640/8 | €597 | €2,837 | +€2,240 | +375% |
| Gross operating margin | 9900 | -€5,860 | €28,054 | +€33,913 | |
| Operating profit (loss) | 9901 | -€6,466 | €24,027 | +€30,492 | |
| Financial charges | 65/66B | €521,283 | €872 | -€520,412 | -99.8% |
| Recurring financial charges | 65 | €845 | €872 | +€27 | +3.2% |
| Non-recurring financial charges | 66B | €520,439 | €0 | -€520,439 | -100% |
| Profit (loss) for the period before taxes | 9903 | -€527,749 | €23,155 | +€550,904 | |
| Income taxes | 67/77 | €245 | €152 | -€93 | -37.9% |
| Profit (loss) for the period | 9904 | -€527,994 | €23,003 | +€550,997 | |
| Profit (loss) for the period to be appropriated | 9905 | -€527,994 | €23,003 | +€550,997 |
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 24 October 2026 via checked.be.