Fragusma: 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.
Fragusma
Largest movements
- Tangible fixed assets +€154,678
up €154,678 (+6.3%), from €2.5m to €2.6m
of which Land and buildings: +€151,888
- Current investments -€100,000
down €100,000 (-90.9%), from €110,000 to €10,000
- Debts after one year +€120,513
up €120,513 (+15.3%), from €786,687 to €907,201
- Reserves -€33,333
down €33,333 (-2.8%), from €1.2m to €1.2m
of which Tax-exempt reserves: -€33,333
- Gross operating margin +€35,663
up €35,663 (+49.0%), from €72,818 to €108,481
- Other operating charges +€20,972
up €20,972 (+171.2%), from €12,248 to €33,221
- Financial charges +€7,313
up €7,313 (+30.0%), from €24,358 to €31,671
- Taxes -€6,821
down €6,821 (-95.0%), from €7,181 to €361
- Financial income +€4,251
up €4,251 (+203.1%), from €2,093 to €6,344
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 | €2,611,553 | €2,699,505 | +€87,953 | +3.4% |
| Fixed assets | 21/28 | €2,465,607 | €2,620,285 | +€154,678 | +6.3% |
| Tangible fixed assets | 22/27 | €2,465,607 | €2,620,285 | +€154,678 | +6.3% |
| Land and buildings | 22 | €2,450,764 | €2,602,653 | +€151,888 | +6.2% |
| Plant, machinery and equipment | 23 | €981 | €8,478 | +€7,497 | +764.3% |
| Furniture and vehicles | 24 | €13,862 | €9,155 | -€4,707 | -34.0% |
| Current assets | 29/58 | €145,946 | €79,220 | -€66,726 | -45.7% |
| Amounts receivable within one year | 40/41 | €34,783 | €49,324 | +€14,542 | +41.8% |
| Other amounts receivable | 41 | €34,783 | €49,324 | +€14,542 | +41.8% |
| Current investments | 50/53 | €110,000 | €10,000 | -€100,000 | -90.9% |
| Cash at bank and in hand | 54/58 | €1,163 | €19,896 | +€18,733 | +1610.8% |
| Total equity and liabilities | 10/49 | €2,611,553 | €2,699,505 | +€87,953 | +3.4% |
| Equity | 10/15 | €1,379,149 | €1,364,413 | -€14,737 | -1.1% |
| Contributions | 10/11 | €68,600 | €68,600 | = | 0.0% |
| Reserves | 13 | €1,184,732 | €1,151,399 | -€33,333 | -2.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,062,872 | €1,029,539 | -€33,333 | -3.1% |
| Distributable reserves | 133 | €120,000 | €120,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €125,817 | €144,414 | +€18,596 | +14.8% |
| Provisions and deferred taxes | 16 | €354,440 | €343,478 | -€10,962 | -3.1% |
| Deferred taxes | 168 | €354,440 | €343,478 | -€10,962 | -3.1% |
| Amounts payable | 17/49 | €877,964 | €991,615 | +€113,651 | +12.9% |
| Amounts payable after more than one year | 17 | €786,687 | €907,201 | +€120,513 | +15.3% |
| Financial debts | 170/4 | €786,687 | €907,201 | +€120,513 | +15.3% |
| Amounts payable within one year | 42/48 | €91,276 | €84,414 | -€6,862 | -7.5% |
| Current portion of amounts payable after more than one year | 42 | €49,622 | €51,566 | +€1,944 | +3.9% |
| Trade debts | 44 | €4,874 | €4,515 | -€359 | -7.4% |
| Suppliers | 440/4 | €4,874 | €4,515 | -€359 | -7.4% |
| Taxes, remuneration and social security | 45 | €18,407 | €5,791 | -€12,616 | -68.5% |
| Taxes | 450/3 | €18,407 | €5,791 | -€12,616 | -68.5% |
| Other amounts payable | 47/48 | €18,373 | €22,543 | +€4,170 | +22.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,086 | €75,272 | +€4,186 | +5.9% |
| Other operating charges | 640/8 | €12,248 | €33,221 | +€20,972 | +171.2% |
| Gross operating margin | 9900 | €72,818 | €108,481 | +€35,663 | +49.0% |
| Operating profit (loss) | 9901 | -€10,516 | -€12 | +€10,505 | +99.9% |
| Financial income | 75/76B | €2,093 | €6,344 | +€4,251 | +203.1% |
| Recurring financial income | 75 | €2,093 | €6,344 | +€4,251 | +203.1% |
| Financial charges | 65/66B | €24,358 | €31,671 | +€7,313 | +30.0% |
| Recurring financial charges | 65 | €24,358 | €31,671 | +€7,313 | +30.0% |
| Profit (loss) for the period before taxes | 9903 | -€32,782 | -€25,338 | +€7,443 | +22.7% |
| Transfer from deferred taxes | 780 | €10,962 | €10,962 | = | 0.0% |
| Income taxes | 67/77 | €7,181 | €361 | -€6,821 | -95.0% |
| Profit (loss) for the period | 9904 | -€29,001 | -€14,737 | +€14,264 | +49.2% |
| Transfer from tax-exempt reserves | 789 | €33,333 | €33,333 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,332 | €18,596 | +€14,264 | +329.3% |
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 8 October 2026 via checked.be.