FGWDG: 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.
FGWDG
Largest movements
- Receivables within one year +€115,890
up €115,890 (+887.7%), from €13,055 to €128,945
of which Trade receivables: +€114,601
- Cash +€18,295
up €18,295 (+25209.5%), from €73 to €18,367
mainly Net result for the year (+€109,726) and Tax, wage and social debts (+€27,343)
- Tangible fixed assets +€5,549
new in 2025: €5,549
of which Other tangible fixed assets: +€3,300
- Deferred charges and accrued income +€5,496
new in 2025: €5,496
- Reserves +€109,726
up €109,726 (+1939.4%), from €5,658 to €115,384
- Tax, wage and social debts +€27,343
up €27,343 (+1530.3%), from €1,787 to €29,130
of which Taxes: +€24,801
- Trade debts +€9,160
up €9,160 (+287.8%), from €3,183 to €12,343
- Gross operating margin +€139,628
up €139,628 (+1797.4%), from €7,768 to €147,396
- Taxes +€33,014
up €33,014 (+1847.6%), from €1,787 to €34,801
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 | €13,128 | €159,357 | +€146,230 | +1113.9% |
| Fixed assets | 21/28 | - | €6,549 | +€6,549 | |
| Tangible fixed assets | 22/27 | - | €5,549 | +€5,549 | |
| Furniture and vehicles | 24 | - | €2,249 | +€2,249 | |
| Other tangible fixed assets | 26 | - | €3,300 | +€3,300 | |
| Financial fixed assets | 28 | - | €1,000 | +€1,000 | |
| Current assets | 29/58 | €13,128 | €152,809 | +€139,681 | +1064.0% |
| Amounts receivable within one year | 40/41 | €13,055 | €128,945 | +€115,890 | +887.7% |
| Trade receivables | 40 | €11,797 | €126,399 | +€114,601 | +971.4% |
| Other amounts receivable | 41 | €1,258 | €2,547 | +€1,289 | +102.5% |
| Cash at bank and in hand | 54/58 | €73 | €18,367 | +€18,295 | +25209.5% |
| Deferred charges and accrued income | 490/1 | - | €5,496 | +€5,496 | |
| Total equity and liabilities | 10/49 | €13,128 | €159,357 | +€146,230 | +1113.9% |
| Equity | 10/15 | €8,158 | €117,884 | +€109,726 | +1345.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €5,658 | €115,384 | +€109,726 | +1939.4% |
| Distributable reserves | 133 | €5,658 | €115,384 | +€109,726 | +1939.4% |
| Amounts payable | 17/49 | €4,970 | €41,473 | +€36,503 | +734.5% |
| Amounts payable within one year | 42/48 | €4,970 | €41,473 | +€36,503 | +734.5% |
| Trade debts | 44 | €3,183 | €12,343 | +€9,160 | +287.8% |
| Suppliers | 440/4 | €3,183 | €12,343 | +€9,160 | +287.8% |
| Taxes, remuneration and social security | 45 | €1,787 | €29,130 | +€27,343 | +1530.3% |
| Taxes | 450/3 | €1,787 | €26,587 | +€24,801 | +1388.0% |
| Remuneration and social security | 454/9 | - | €2,542 | +€2,542 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €331 | +€331 | |
| Other operating charges | 640/8 | €322 | €1,658 | +€1,336 | +415.1% |
| Gross operating margin | 9900 | €7,768 | €147,396 | +€139,628 | +1797.4% |
| Operating profit (loss) | 9901 | €7,446 | €145,407 | +€137,961 | +1852.7% |
| Financial income | 75/76B | €6 | €168 | +€162 | +2796.2% |
| Recurring financial income | 75 | €6 | €168 | +€162 | +2796.2% |
| Financial charges | 65/66B | €8 | €1,048 | +€1,041 | +13855.3% |
| Recurring financial charges | 65 | €8 | €1,048 | +€1,041 | +13855.3% |
| Profit (loss) for the period before taxes | 9903 | €7,445 | €144,527 | +€137,082 | +1841.3% |
| Income taxes | 67/77 | €1,787 | €34,801 | +€33,014 | +1847.6% |
| Profit (loss) for the period | 9904 | €5,658 | €109,726 | +€104,069 | +1839.4% |
| Profit (loss) for the period to be appropriated | 9905 | €5,658 | €109,726 | +€104,069 | +1839.4% |
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 1 October 2026 via checked.be.