FUGA: 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.
FUGA
Largest movements
- Receivables within one year +€5,699
up €5,699 (+12.5%), from €45,652 to €51,351
of which Trade receivables: +€5,735
- Tangible fixed assets -€3,208
down €3,208 (-11.6%), from €27,613 to €24,405
of which Leasing and similar rights: -€6,596
- Cash +€1,503
up €1,503 (+3.4%), from €44,232 to €45,734
mainly Net result for the year (+€15,505) and Depreciation (+€8,290)
- Reserves +€15,505
up €15,505 (+58.5%), from €26,522 to €42,027
of which Distributable reserves: +€15,505
- Debts after one year -€11,902
no longer reported in 2025 (was €11,902)
- Advances received +€4,594
new in 2025: €4,594
- Other debts -€3,947
down €3,947 (-9.9%), from €40,064 to €36,117
- Trade debts -€2,034
down €2,034 (-97.8%), from €2,081 to €47
- Gross operating margin -€3,071
down €3,071 (-7.2%), from €42,417 to €39,347
- Other operating charges -€2,739
down €2,739 (-49.0%), from €5,585 to €2,847
- Depreciation +€1,694
up €1,694 (+25.7%), from €6,596 to €8,290
- Taxes -€1,124
down €1,124 (-9.2%), from €12,273 to €11,149
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 | €122,596 | €125,967 | +€3,372 | +2.8% |
| Fixed assets | 21/28 | €27,614 | €24,406 | -€3,208 | -11.6% |
| Tangible fixed assets | 22/27 | €27,613 | €24,405 | -€3,208 | -11.6% |
| Furniture and vehicles | 24 | - | €3,388 | +€3,388 | |
| Leasing and similar rights | 25 | €27,613 | €21,017 | -€6,596 | -23.9% |
| Financial fixed assets | 28 | €1 | €1 | = | 0.0% |
| Current assets | 29/58 | €94,981 | €101,561 | +€6,580 | +6.9% |
| Stocks and contracts in progress | 3 | €1,648 | €1,026 | -€622 | -37.7% |
| Stocks | 30/36 | €1,648 | €1,026 | -€622 | -37.7% |
| Amounts receivable within one year | 40/41 | €45,652 | €51,351 | +€5,699 | +12.5% |
| Trade receivables | 40 | €44,839 | €50,575 | +€5,735 | +12.8% |
| Other amounts receivable | 41 | €812 | €776 | -€36 | -4.5% |
| Cash at bank and in hand | 54/58 | €44,232 | €45,734 | +€1,503 | +3.4% |
| Deferred charges and accrued income | 490/1 | €3,450 | €3,450 | = | 0.0% |
| Total equity and liabilities | 10/49 | €122,596 | €125,967 | +€3,372 | +2.8% |
| Equity | 10/15 | €45,114 | €60,619 | +€15,505 | +34.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €26,522 | €42,027 | +€15,505 | +58.5% |
| Non-distributable reserves | 130/1 | €493 | €493 | = | 0.0% |
| Reserves not available under the articles | 1311 | €493 | €493 | = | 0.0% |
| Distributable reserves | 133 | €26,029 | €41,534 | +€15,505 | +59.6% |
| Amounts payable | 17/49 | €77,482 | €65,348 | -€12,134 | -15.7% |
| Amounts payable after more than one year | 17 | €11,902 | - | -€11,902 | |
| Financial debts | 170/4 | €11,902 | - | -€11,902 | |
| Amounts payable within one year | 42/48 | €65,579 | €65,348 | -€232 | -0.4% |
| Current portion of amounts payable after more than one year | 42 | €11,026 | €11,902 | +€877 | +8.0% |
| Trade debts | 44 | €2,081 | €47 | -€2,034 | -97.8% |
| Suppliers | 440/4 | €2,081 | €47 | -€2,034 | -97.8% |
| Advances received on contracts in progress | 46 | - | €4,594 | +€4,594 | |
| Taxes, remuneration and social security | 45 | €12,409 | €12,688 | +€279 | +2.2% |
| Taxes | 450/3 | €12,409 | €12,688 | +€279 | +2.2% |
| Other amounts payable | 47/48 | €40,064 | €36,117 | -€3,947 | -9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,596 | €8,290 | +€1,694 | +25.7% |
| Other operating charges | 640/8 | €5,585 | €2,847 | -€2,739 | -49.0% |
| Non-recurring operating charges | 66A | €939 | €196 | -€743 | -79.1% |
| Gross operating margin | 9900 | €42,417 | €39,347 | -€3,071 | -7.2% |
| Operating profit (loss) | 9901 | €29,298 | €28,014 | -€1,284 | -4.4% |
| Financial income | 75/76B | - | €9 | +€9 | |
| Recurring financial income | 75 | - | €9 | +€9 | |
| Financial charges | 65/66B | €1,341 | €1,369 | +€28 | +2.1% |
| Recurring financial charges | 65 | €1,341 | €1,369 | +€28 | +2.1% |
| Profit (loss) for the period before taxes | 9903 | €27,957 | €26,654 | -€1,303 | -4.7% |
| Income taxes | 67/77 | €12,273 | €11,149 | -€1,124 | -9.2% |
| Profit (loss) for the period | 9904 | €15,684 | €15,505 | -€178 | -1.1% |
| Profit (loss) for the period to be appropriated | 9905 | €15,684 | €15,505 | -€178 | -1.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.