FOG: 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.
What changed
FOG
NACE 70.200, Business and other management consultancy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€53,067
2024 · €60,715-€113,782
Equity
€147,233
2024 · €259,123-€111,891
Cash
€100,026
2024 · €114,194-€14,169
Balance sheet total
€678,256
2024 · €737,229-€58,973
Largest movements
Assets
- Stocks and contracts -€45,000
down €45,000 (-100.0%), from €45,000 to €0
- Cash -€14,169
down €14,169 (-12.4%), from €114,194 to €100,026
mainly Contributions, distributions and other (-€58,824) and Net result for the year (-€53,067)
Equity and liabilities
- Profit (loss) carried forward -€111,891
down €111,891 (-54.0%), from €207,088 to €95,198
- Other debts +€50,449
up €50,449 (+5320.8%), from €948 to €51,397
Income statement
- Gross operating margin -€132,776
down €132,776 (-95.1%), from €139,593 to €6,817
- Taxes -€17,219
down €17,219 (-98.5%), from €17,487 to €267
- Depreciation -€2,571
down €2,571 (-5.5%), from €46,579 to €44,008
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.
Result 2024
€60,715
Gross operating margin
-€132,776
Depreciation
+€2,571
Other operating charges
-€935
Financial income
-€12
Financial charges
+€152
Taxes
+€17,219
Result 2025
-€53,067
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.
From operations
+€76,535
Investment
-€39,503
Financing
-€51,200
Cash 2024
€114,194
From operations (derived)
+€76,535
Net result for the year
-€53,067
Depreciation
+€44,008
Stocks and contracts
+€45,000
Receivables within one year
-€4,248
Deferred charges and accrued income
-€453
Trade debts
-€6,964
Tax, wage and social debts
+€1,023
Other debts
+€50,449
Accrued charges and deferred income
+€786
Investment (derived)
-€39,503
Investment in fixed assets (net)
-€39,503
Financing
-€51,200
Debts after one year
+€2,431
Current portion of long-term debt
+€5,193
Contributions, distributions and other
-€58,824
Cash 2025
€100,026
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €737,229 | €678,256 | -€58,973 | -8.0% |
| Fixed assets | 21/28 | €573,823 | €569,318 | -€4,505 | -0.8% |
| Tangible fixed assets | 22/27 | €573,823 | €569,318 | -€4,505 | -0.8% |
| Land and buildings | 22 | €571,364 | €567,857 | -€3,508 | -0.6% |
| Furniture and vehicles | 24 | €2,458 | €1,461 | -€997 | -40.6% |
| Current assets | 29/58 | €163,406 | €108,938 | -€54,468 | -33.3% |
| Stocks and contracts in progress | 3 | €45,000 | €0 | -€45,000 | -100.0% |
| Stocks | 30/36 | €45,000 | €0 | -€45,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €2,333 | €6,580 | +€4,248 | +182.1% |
| Trade receivables | 40 | €2,333 | €5,938 | +€3,606 | +154.6% |
| Other amounts receivable | 41 | €0 | €642 | +€642 | |
| Cash at bank and in hand | 54/58 | €114,194 | €100,026 | -€14,169 | -12.4% |
| Deferred charges and accrued income | 490/1 | €1,879 | €2,332 | +€453 | +24.1% |
| Total equity and liabilities | 10/49 | €737,229 | €678,256 | -€58,973 | -8.0% |
| Equity | 10/15 | €259,123 | €147,233 | -€111,891 | -43.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €33,435 | €33,435 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €33,435 | €33,435 | = | 0.0% |
| Profit (loss) carried forward | 14 | €207,088 | €95,198 | -€111,891 | -54.0% |
| Amounts payable | 17/49 | €478,106 | €531,024 | +€52,918 | +11.1% |
| Amounts payable after more than one year | 17 | €400,316 | €402,747 | +€2,431 | +0.6% |
| Financial debts | 170/4 | €388,596 | €391,027 | +€2,431 | +0.6% |
| Other amounts payable | 178/9 | €11,720 | €11,720 | = | 0.0% |
| Amounts payable within one year | 42/48 | €76,490 | €126,191 | +€49,701 | +65.0% |
| Current portion of amounts payable after more than one year | 42 | €41,298 | €46,491 | +€5,193 | +12.6% |
| Trade debts | 44 | €14,875 | €7,911 | -€6,964 | -46.8% |
| Suppliers | 440/4 | €14,875 | €7,911 | -€6,964 | -46.8% |
| Taxes, remuneration and social security | 45 | €19,369 | €20,391 | +€1,023 | +5.3% |
| Taxes | 450/3 | €17,272 | €19,392 | +€2,120 | +12.3% |
| Remuneration and social security | 454/9 | €2,096 | €1,000 | -€1,097 | -52.3% |
| Other amounts payable | 47/48 | €948 | €51,397 | +€50,449 | +5320.8% |
| Accrued charges and deferred income | 492/3 | €1,300 | €2,086 | +€786 | +60.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,579 | €44,008 | -€2,571 | -5.5% |
| Other operating charges | 640/8 | €6,088 | €7,023 | +€935 | +15.4% |
| Gross operating margin | 9900 | €139,593 | €6,817 | -€132,776 | -95.1% |
| Operating profit (loss) | 9901 | €86,927 | -€44,214 | -€131,141 | |
| Financial income | 75/76B | €142 | €130 | -€12 | -8.5% |
| Recurring financial income | 75 | €142 | €130 | -€12 | -8.5% |
| Financial charges | 65/66B | €8,868 | €8,716 | -€152 | -1.7% |
| Recurring financial charges | 65 | €8,868 | €8,716 | -€152 | -1.7% |
| Profit (loss) for the period before taxes | 9903 | €78,201 | -€52,800 | -€131,001 | |
| Income taxes | 67/77 | €17,487 | €267 | -€17,219 | -98.5% |
| Profit (loss) for the period | 9904 | €60,715 | -€53,067 | -€113,782 | |
| Transfer from tax-exempt reserves | 789 | €31,575 | €0 | -€31,575 | -100.0% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €92,290 | -€53,067 | -€145,357 |
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 29 September 2026 via checked.be.