FRAGMAI: 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.
FRAGMAI
Largest movements
- Tangible fixed assets -€7,101
down €7,101 (-18.2%), from €39,112 to €32,011
of which Plant, machinery and equipment: -€6,856
- Receivables within one year -€1,406
down €1,406 (-20.4%), from €6,887 to €5,480
of which Other amounts receivable: -€1,175
- Deferred charges and accrued income +€1,085
up €1,085 (+9,052%), from €12 to €1,097
- Financial fixed assets +€600
up €600 (+60.0%), from €1,000 to €1,600
- Other debts +€20,819
up €20,819 (+984%), from €2,116 to €22,935
- Debts after one year -€15,489
down €15,489 (-100%), from €15,489 to €0
- Profit (loss) carried forward -€8,592
down €8,592 (-101%), from -€8,534 to -€17,125
- Current portion of long-term debt -€5,855
down €5,855 (-100%), from €5,855 to €0
- Tax, wage and social debts +€1,350
new in 2025: €1,350
- Staff costs +€3,303
up €3,303 (+270%), from €1,223 to €4,526
- Gross operating margin -€1,751
down €1,751 (-27.5%), from €6,378 to €4,628
- Other operating charges -€1,114
down €1,114 (-78.1%), from €1,426 to €312
- Depreciation +€233
up €233 (+3.4%), from €6,868 to €7,101
- Financial charges -€102
down €102 (-7.4%), from €1,381 to €1,279
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 | €48,679 | €41,679 | -€7,000 | -14.4% |
| Fixed assets | 21/28 | €40,112 | €33,611 | -€6,501 | -16.2% |
| Tangible fixed assets | 22/27 | €39,112 | €32,011 | -€7,101 | -18.2% |
| Plant, machinery and equipment | 23 | €36,763 | €29,907 | -€6,856 | -18.7% |
| Furniture and vehicles | 24 | €2,349 | €2,104 | -€245 | -10.4% |
| Financial fixed assets | 28 | €1,000 | €1,600 | +€600 | +60.0% |
| Current assets | 29/58 | €8,567 | €8,068 | -€498 | -5.8% |
| Amounts receivable within one year | 40/41 | €6,887 | €5,480 | -€1,406 | -20.4% |
| Trade receivables | 40 | €4,680 | €4,449 | -€231 | -4.9% |
| Other amounts receivable | 41 | €2,207 | €1,032 | -€1,175 | -53.2% |
| Cash at bank and in hand | 54/58 | €1,668 | €1,490 | -€177 | -10.6% |
| Deferred charges and accrued income | 490/1 | €12 | €1,097 | +€1,085 | +9,052% |
| Total equity and liabilities | 10/49 | €48,679 | €41,679 | -€7,000 | -14.4% |
| Equity | 10/15 | €16,882 | €8,290 | -€8,592 | -50.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Contributions outside capital | 11 | €18,592 | - | -€18,592 | |
| Other | 1109/19 | €18,592 | - | -€18,592 | |
| Reserves | 13 | €6,823 | €6,823 | = | 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% |
| Distributable reserves | 133 | €4,964 | €4,964 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,534 | -€17,125 | -€8,592 | -101% |
| Amounts payable | 17/49 | €31,797 | €33,390 | +€1,592 | +5.0% |
| Amounts payable after more than one year | 17 | €15,489 | €0 | -€15,489 | -100% |
| Financial debts | 170/4 | €15,489 | €0 | -€15,489 | -100% |
| Amounts payable within one year | 42/48 | €16,308 | €33,390 | +€17,082 | +105% |
| Current portion of amounts payable after more than one year | 42 | €5,855 | €0 | -€5,855 | -100% |
| Financial debts | 43 | €2,481 | €2,455 | -€26 | -1.0% |
| Credit institutions | 430/8 | €2,481 | €2,455 | -€26 | -1.0% |
| Trade debts | 44 | €5,856 | €6,650 | +€794 | +13.6% |
| Suppliers | 440/4 | €5,856 | €6,650 | +€794 | +13.6% |
| Taxes, remuneration and social security | 45 | - | €1,350 | +€1,350 | |
| Remuneration and social security | 454/9 | - | €1,350 | +€1,350 | |
| Other amounts payable | 47/48 | €2,116 | €22,935 | +€20,819 | +984% |
| Remuneration, social security and pensions | 62 | €1,223 | €4,526 | +€3,303 | +270% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,868 | €7,101 | +€233 | +3.4% |
| Other operating charges | 640/8 | €1,426 | €312 | -€1,114 | -78.1% |
| Gross operating margin | 9900 | €6,378 | €4,628 | -€1,751 | -27.5% |
| Operating profit (loss) | 9901 | -€3,139 | -€7,313 | -€4,174 | -133% |
| Financial charges | 65/66B | €1,381 | €1,279 | -€102 | -7.4% |
| Recurring financial charges | 65 | €1,381 | €1,279 | -€102 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | -€4,520 | -€8,592 | -€4,072 | -90.1% |
| Profit (loss) for the period | 9904 | -€4,520 | -€8,592 | -€4,072 | -90.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,520 | -€8,592 | -€4,072 | -90.1% |
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 26 October 2026 via checked.be.