FIGARO: 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.
FIGARO
Largest movements
- Tangible fixed assets -€22,559
down €22,559 (-11.6%), from €194,876 to €172,317
of which Land and buildings: -€21,827
- Cash +€14,284
up €14,284 (+114%), from €12,548 to €26,833
mainly Depreciation (+€22,559) and Net result for the year (+€2,630)
- Other debts -€9,404
down €9,404 (-7.4%), from €126,890 to €117,486
- Profit (loss) carried forward +€2,630
up €2,630 (+1.5%), from -€178,530 to -€175,900
- Depreciation -€1,581
down €1,581 (-6.5%), from €24,139 to €22,559
- Gross operating margin +€1,463
up €1,463 (+4.5%), from €32,480 to €33,942
- Staff costs +€863
up €863 (+35.0%), from €2,465 to €3,328
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 | €220,479 | €213,348 | -€7,131 | -3.2% |
| Fixed assets | 21/28 | €195,061 | €172,502 | -€22,559 | -11.6% |
| Tangible fixed assets | 22/27 | €194,876 | €172,317 | -€22,559 | -11.6% |
| Land and buildings | 22 | €193,428 | €171,600 | -€21,827 | -11.3% |
| Furniture and vehicles | 24 | €1,448 | €717 | -€731 | -50.5% |
| Financial fixed assets | 28 | €185 | €185 | = | 0.0% |
| Current assets | 29/58 | €25,418 | €40,846 | +€15,428 | +60.7% |
| Stocks and contracts in progress | 3 | €12,309 | €12,741 | +€432 | +3.5% |
| Stocks | 30/36 | €12,309 | €12,741 | +€432 | +3.5% |
| Amounts receivable within one year | 40/41 | - | €278 | +€278 | |
| Trade receivables | 40 | - | €278 | +€278 | |
| Cash at bank and in hand | 54/58 | €12,548 | €26,833 | +€14,284 | +114% |
| Deferred charges and accrued income | 490/1 | €560 | €994 | +€434 | +77.5% |
| Total equity and liabilities | 10/49 | €220,479 | €213,348 | -€7,131 | -3.2% |
| Equity | 10/15 | €86,673 | €89,303 | +€2,630 | +3.0% |
| Contributions | 10/11 | €194,000 | €194,000 | = | 0.0% |
| Contributions outside capital | 11 | €194,000 | €194,000 | = | 0.0% |
| Other | 1109/19 | €194,000 | €194,000 | = | 0.0% |
| Reserves | 13 | €71,202 | €71,202 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,755 | €8,755 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,755 | €8,755 | = | 0.0% |
| Distributable reserves | 133 | €62,447 | €62,447 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€178,530 | -€175,900 | +€2,630 | +1.5% |
| Amounts payable | 17/49 | €133,806 | €124,045 | -€9,761 | -7.3% |
| Amounts payable within one year | 42/48 | €133,806 | €123,992 | -€9,814 | -7.3% |
| Trade debts | 44 | €5,094 | €3,426 | -€1,668 | -32.7% |
| Suppliers | 440/4 | €5,094 | €3,426 | -€1,668 | -32.7% |
| Taxes, remuneration and social security | 45 | €1,822 | €3,080 | +€1,258 | +69.0% |
| Taxes | 450/3 | €746 | €2,080 | +€1,333 | +179% |
| Remuneration and social security | 454/9 | €1,076 | €1,000 | -€76 | -7.0% |
| Other amounts payable | 47/48 | €126,890 | €117,486 | -€9,404 | -7.4% |
| Accrued charges and deferred income | 492/3 | - | €53 | +€53 | |
| Remuneration, social security and pensions | 62 | €2,465 | €3,328 | +€863 | +35.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,139 | €22,559 | -€1,581 | -6.5% |
| Other operating charges | 640/8 | €4,267 | €4,291 | +€24 | +0.6% |
| Gross operating margin | 9900 | €32,480 | €33,942 | +€1,463 | +4.5% |
| Operating profit (loss) | 9901 | €1,608 | €3,765 | +€2,157 | +134% |
| Financial income | 75/76B | €115 | €89 | -€25 | -22.0% |
| Recurring financial income | 75 | €115 | €89 | -€25 | -22.0% |
| Financial charges | 65/66B | €852 | €973 | +€121 | +14.2% |
| Recurring financial charges | 65 | €852 | €973 | +€121 | +14.2% |
| Profit (loss) for the period before taxes | 9903 | €870 | €2,881 | +€2,010 | +231% |
| Income taxes | 67/77 | - | €251 | +€251 | |
| Profit (loss) for the period | 9904 | €870 | €2,630 | +€1,760 | +202% |
| Profit (loss) for the period to be appropriated | 9905 | €870 | €2,630 | +€1,760 | +202% |
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 30 October 2026 via checked.be.