FiGleMA: 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.
FiGleMA
Largest movements
- Tangible fixed assets +€101,486
up €101,486 (+6.2%), from €1.6m to €1.7m
of which Assets under construction and advance payments: +€174,574
- Cash +€27,269
up €27,269 (+116.8%), from €23,342 to €50,610
mainly Other debts (+€157,605) and Depreciation (+€77,614)
- Other debts +€157,605
up €157,605 (+91.4%), from €172,425 to €330,030
- Gross operating margin +€24,286
up €24,286 (+56.4%), from €43,097 to €67,384
- Depreciation +€7,419
up €7,419 (+10.6%), from €70,195 to €77,614
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 | €1,670,338 | €1,798,784 | +€128,446 | +7.7% |
| Fixed assets | 21/28 | €1,646,618 | €1,748,104 | +€101,486 | +6.2% |
| Tangible fixed assets | 22/27 | €1,646,618 | €1,748,104 | +€101,486 | +6.2% |
| Land and buildings | 22 | €1,385,050 | €1,328,086 | -€56,964 | -4.1% |
| Other tangible fixed assets | 26 | €185,391 | €169,266 | -€16,125 | -8.7% |
| Assets under construction and advance payments | 27 | €76,177 | €250,751 | +€174,574 | +229.2% |
| Current assets | 29/58 | €23,719 | €50,680 | +€26,961 | +113.7% |
| Cash at bank and in hand | 54/58 | €23,342 | €50,610 | +€27,269 | +116.8% |
| Deferred charges and accrued income | 490/1 | €378 | €70 | -€308 | -81.5% |
| Total equity and liabilities | 10/49 | €1,670,338 | €1,798,784 | +€128,446 | +7.7% |
| Equity | 10/15 | €598,207 | €576,934 | -€21,273 | -3.6% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €292,246 | €276,954 | -€15,292 | -5.2% |
| Tax-exempt reserves | 132 | €257,627 | €242,335 | -€15,292 | -5.9% |
| Distributable reserves | 133 | €34,619 | €34,619 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€94,039 | -€100,021 | -€5,981 | -6.4% |
| Provisions and deferred taxes | 16 | €85,876 | €80,778 | -€5,097 | -5.9% |
| Deferred taxes | 168 | €85,876 | €80,778 | -€5,097 | -5.9% |
| Amounts payable | 17/49 | €986,255 | €1,141,072 | +€154,817 | +15.7% |
| Amounts payable after more than one year | 17 | €800,000 | €800,000 | = | 0.0% |
| Financial debts | 170/4 | €800,000 | €800,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €175,630 | €330,146 | +€154,516 | +88.0% |
| Trade debts | 44 | €3,205 | €116 | -€3,089 | -96.4% |
| Suppliers | 440/4 | €3,205 | €116 | -€3,089 | -96.4% |
| Other amounts payable | 47/48 | €172,425 | €330,030 | +€157,605 | +91.4% |
| Accrued charges and deferred income | 492/3 | €10,625 | €10,926 | +€301 | +2.8% |
| Non-recurring operating income | 76A | €3,531 | - | -€3,531 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,195 | €77,614 | +€7,419 | +10.6% |
| Other operating charges | 640/8 | €8,304 | €8,564 | +€259 | +3.1% |
| Gross operating margin | 9900 | €43,097 | €67,384 | +€24,286 | +56.4% |
| Operating profit (loss) | 9901 | -€35,402 | -€18,794 | +€16,608 | +46.9% |
| Financial income | 75/76B | €321 | €96 | -€225 | -70.1% |
| Recurring financial income | 75 | €321 | €96 | -€225 | -70.1% |
| Financial charges | 65/66B | €7,661 | €7,672 | +€11 | +0.1% |
| Recurring financial charges | 65 | €7,661 | €7,672 | +€11 | +0.1% |
| Profit (loss) for the period before taxes | 9903 | -€42,742 | -€26,370 | +€16,372 | +38.3% |
| Transfer from deferred taxes | 780 | €5,292 | €5,097 | -€194 | -3.7% |
| Profit (loss) for the period | 9904 | -€37,451 | -€21,273 | +€16,178 | +43.2% |
| Transfer from tax-exempt reserves | 789 | €15,875 | €15,292 | -€583 | -3.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,576 | -€5,981 | +€15,595 | +72.3% |
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 6 October 2026 via checked.be.