FOUARGE: 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.
FOUARGE
Largest movements
- Receivables within one year +€85,939
up €85,939 (+122.0%), from €70,460 to €156,398
of which Trade receivables: +€81,889
- Cash -€53,236
down €53,236 (-44.1%), from €120,593 to €67,357
mainly Receivables within one year (-€85,939) and Trade debts (-€8,592)
- Tangible fixed assets -€14,019
down €14,019 (-24.6%), from €57,012 to €42,994
of which Furniture and vehicles: -€12,921
- Stocks and contracts -€9,146
down €9,146 (-31.3%), from €29,248 to €20,102
- Profit (loss) carried forward +€30,279
up €30,279 (+14.9%), from €203,120 to €233,399
- Trade debts -€8,592
down €8,592 (-40.1%), from €21,401 to €12,809
- Debts after one year -€7,838
down €7,838 (-60.0%), from €13,053 to €5,215
- Current portion of long-term debt -€5,306
down €5,306 (-40.4%), from €13,144 to €7,838
- Tax, wage and social debts +€3,150
up €3,150 (+17.6%), from €17,913 to €21,062
of which Taxes: +€5,083
- Staff costs -€25,896
down €25,896 (-96.6%), from €26,801 to €904
- Gross operating margin +€12,472
up €12,472 (+24.6%), from €50,731 to €63,203
- Taxes +€7,633
up €7,633 (+187.1%), from €4,079 to €11,712
- Depreciation +€3,819
up €3,819 (+33.8%), from €11,313 to €15,132
- Other operating charges +€3,135
up €3,135 (+180.9%), from €1,733 to €4,868
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 | €277,507 | €288,388 | +€10,881 | +3.9% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €57,072 | €43,054 | -€14,019 | -24.6% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €57,012 | €42,994 | -€14,019 | -24.6% |
| Land and buildings | 22 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €4,442 | €4,082 | -€360 | -8.1% |
| Furniture and vehicles | 24 | €49,399 | €36,478 | -€12,921 | -26.2% |
| Leasing and similar rights | 25 | €0 | €0 | = | |
| Other tangible fixed assets | 26 | €3,172 | €2,434 | -€738 | -23.3% |
| Financial fixed assets | 28 | €60 | €60 | = | 0.0% |
| Current assets | 29/58 | €220,435 | €245,334 | +€24,899 | +11.3% |
| Stocks and contracts in progress | 3 | €29,248 | €20,102 | -€9,146 | -31.3% |
| Stocks | 30/36 | €29,248 | €20,102 | -€9,146 | -31.3% |
| Amounts receivable within one year | 40/41 | €70,460 | €156,398 | +€85,939 | +122.0% |
| Trade receivables | 40 | €51,762 | €133,651 | +€81,889 | +158.2% |
| Other amounts receivable | 41 | €18,698 | €22,748 | +€4,049 | +21.7% |
| Cash at bank and in hand | 54/58 | €120,593 | €67,357 | -€53,236 | -44.1% |
| Deferred charges and accrued income | 490/1 | €133 | €1,477 | +€1,343 | +1008.6% |
| Total equity and liabilities | 10/49 | €277,507 | €288,388 | +€10,881 | +3.9% |
| Equity | 10/15 | €211,185 | €241,463 | +€30,279 | +14.3% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €203,120 | €233,399 | +€30,279 | +14.9% |
| Amounts payable | 17/49 | €66,322 | €46,924 | -€19,398 | -29.2% |
| Amounts payable after more than one year | 17 | €13,053 | €5,215 | -€7,838 | -60.0% |
| Financial debts | 170/4 | €13,053 | €5,215 | -€7,838 | -60.0% |
| Amounts payable within one year | 42/48 | €53,269 | €41,709 | -€11,560 | -21.7% |
| Current portion of amounts payable after more than one year | 42 | €13,144 | €7,838 | -€5,306 | -40.4% |
| Financial debts | 43 | €812 | €0 | -€812 | -100.0% |
| Credit institutions | 430/8 | €812 | €0 | -€812 | -100.0% |
| Trade debts | 44 | €21,401 | €12,809 | -€8,592 | -40.1% |
| Suppliers | 440/4 | €21,401 | €12,809 | -€8,592 | -40.1% |
| Taxes, remuneration and social security | 45 | €17,913 | €21,062 | +€3,150 | +17.6% |
| Taxes | 450/3 | €15,979 | €21,062 | +€5,083 | +31.8% |
| Remuneration and social security | 454/9 | €1,934 | €0 | -€1,934 | -100.0% |
| Turnover | 70 | €0 | €0 | = | |
| Non-recurring operating income | 76A | €0 | €1,320 | +€1,320 | +880080.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | €0 | = | |
| Remuneration, social security and pensions | 62 | €26,801 | €904 | -€25,896 | -96.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,313 | €15,132 | +€3,819 | +33.8% |
| Other operating charges | 640/8 | €1,733 | €4,868 | +€3,135 | +180.9% |
| Gross operating margin | 9900 | €50,731 | €63,203 | +€12,472 | +24.6% |
| Operating profit (loss) | 9901 | €10,885 | €42,299 | +€31,415 | +288.6% |
| Financial income | 75/76B | €12 | €582 | +€570 | +4753.8% |
| Recurring financial income | 75 | €12 | €582 | +€570 | +4753.8% |
| Financial charges | 65/66B | €463 | €891 | +€428 | +92.4% |
| Recurring financial charges | 65 | €460 | €870 | +€410 | +89.2% |
| Non-recurring financial charges | 66B | €3 | €21 | +€17 | +558.7% |
| Profit (loss) for the period before taxes | 9903 | €10,434 | €41,991 | +€31,557 | +302.5% |
| Income taxes | 67/77 | €4,079 | €11,712 | +€7,633 | +187.1% |
| Profit (loss) for the period | 9904 | €6,355 | €30,279 | +€23,924 | +376.5% |
| Profit (loss) for the period to be appropriated | 9905 | €6,355 | €30,279 | +€23,924 | +376.5% |
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 11 October 2026 via checked.be.