FGS: 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.
FGS
Largest movements
- Receivables within one year +€401,028
up €401,028 (+111.6%), from €359,190 to €760,218
of which Trade receivables: +€379,715
- Cash -€70,158
down €70,158 (-45.6%), from €153,872 to €83,714
mainly Receivables within one year (-€401,028) and Deferred charges and accrued income (-€10,460)
- Tangible fixed assets -€21,497
down €21,497 (-24.8%), from €86,749 to €65,252
- Deferred charges and accrued income +€10,460
up €10,460 (+199.8%), from €5,236 to €15,696
- Trade debts +€150,594
up €150,594 (+51.1%), from €294,757 to €445,351
- Profit (loss) carried forward +€91,786
up €91,786, from -€57,423 to €34,363
- Tax, wage and social debts +€73,073
up €73,073 (+44.3%), from €165,042 to €238,115
of which Taxes: +€82,764
- Gross operating margin +€244,158
up €244,158 (+19.8%), from €1.2m to €1.5m
- Taxes +€58,281
up €58,281 (+1318.6%), from €4,420 to €62,701
- Staff costs +€42,613
up €42,613 (+3.4%), from €1.3m to €1.3m
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 | €607,392 | €926,283 | +€318,890 | +52.5% |
| Fixed assets | 21/28 | €89,094 | €66,654 | -€22,439 | -25.2% |
| Intangible fixed assets | 21 | €2,345 | €1,403 | -€942 | -40.2% |
| Tangible fixed assets | 22/27 | €86,749 | €65,252 | -€21,497 | -24.8% |
| Furniture and vehicles | 24 | €86,749 | €65,252 | -€21,497 | -24.8% |
| Current assets | 29/58 | €518,299 | €859,628 | +€341,330 | +65.9% |
| Amounts receivable within one year | 40/41 | €359,190 | €760,218 | +€401,028 | +111.6% |
| Trade receivables | 40 | €321,717 | €701,432 | +€379,715 | +118.0% |
| Other amounts receivable | 41 | €37,473 | €58,787 | +€21,313 | +56.9% |
| Cash at bank and in hand | 54/58 | €153,872 | €83,714 | -€70,158 | -45.6% |
| Deferred charges and accrued income | 490/1 | €5,236 | €15,696 | +€10,460 | +199.8% |
| Total equity and liabilities | 10/49 | €607,392 | €926,283 | +€318,890 | +52.5% |
| Equity | 10/15 | -€54,423 | €37,363 | +€91,786 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€57,423 | €34,363 | +€91,786 | |
| Amounts payable | 17/49 | €661,816 | €888,920 | +€227,104 | +34.3% |
| Amounts payable within one year | 42/48 | €661,816 | €885,483 | +€223,667 | +33.8% |
| Trade debts | 44 | €294,757 | €445,351 | +€150,594 | +51.1% |
| Suppliers | 440/4 | €294,757 | €445,351 | +€150,594 | +51.1% |
| Taxes, remuneration and social security | 45 | €165,042 | €238,115 | +€73,073 | +44.3% |
| Taxes | 450/3 | €44,504 | €127,268 | +€82,764 | +186.0% |
| Remuneration and social security | 454/9 | €120,538 | €110,848 | -€9,691 | -8.0% |
| Other amounts payable | 47/48 | €202,017 | €202,017 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €3,437 | +€3,437 | |
| Remuneration, social security and pensions | 62 | €1,256,362 | €1,298,975 | +€42,613 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,781 | €23,605 | -€175 | -0.7% |
| Other operating charges | 640/8 | €617 | €2,492 | +€1,876 | +304.3% |
| Gross operating margin | 9900 | €1,235,681 | €1,479,838 | +€244,158 | +19.8% |
| Operating profit (loss) | 9901 | -€45,078 | €154,766 | +€199,844 | |
| Financial income | 75/76B | - | €83 | +€83 | |
| Recurring financial income | 75 | - | €83 | +€83 | |
| Financial charges | 65/66B | €20 | €362 | +€342 | +1735.5% |
| Recurring financial charges | 65 | €20 | €362 | +€342 | +1735.5% |
| Profit (loss) for the period before taxes | 9903 | -€45,098 | €154,487 | +€199,585 | |
| Income taxes | 67/77 | €4,420 | €62,701 | +€58,281 | +1318.6% |
| Profit (loss) for the period | 9904 | -€49,518 | €91,786 | +€141,304 | |
| Profit (loss) for the period to be appropriated | 9905 | -€49,518 | €91,786 | +€141,304 |
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 4 October 2026 via checked.be.