FUGASE: 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.
FUGASE
Largest movements
- Tangible fixed assets -€70,990
down €70,990 (-4.1%), from €1.7m to €1.7m
of which Land and buildings: -€62,968
- Receivables within one year -€20,587
down €20,587 (-61.1%), from €33,687 to €13,100
- Profit (loss) carried forward -€132,634
down €132,634 (-48.5%), from -€273,378 to -€406,012
- Debts after one year +€56,399
up €56,399 (+3.5%), from €1.6m to €1.7m
of which Other amounts payable: +€192,990
- Trade debts -€21,429
down €21,429 (-59.0%), from €36,316 to €14,888
- Staff costs +€33,723
up €33,723 (+32.0%), from €105,221 to €138,944
- Gross operating margin +€6,331
up €6,331 (+7.2%), from €87,902 to €94,233
- Financial income -€1,497
down €1,497 (-76.1%), from €1,968 to €471
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 | €1,774,435 | €1,686,230 | -€88,205 | -5.0% |
| Fixed assets | 21/28 | €1,737,998 | €1,667,008 | -€70,990 | -4.1% |
| Tangible fixed assets | 22/27 | €1,737,998 | €1,667,008 | -€70,990 | -4.1% |
| Land and buildings | 22 | €1,719,958 | €1,656,990 | -€62,968 | -3.7% |
| Plant, machinery and equipment | 23 | €5,002 | €2,623 | -€2,379 | -47.6% |
| Furniture and vehicles | 24 | €13,038 | €7,396 | -€5,643 | -43.3% |
| Current assets | 29/58 | €36,437 | €19,223 | -€17,215 | -47.2% |
| Amounts receivable within one year | 40/41 | €33,687 | €13,100 | -€20,587 | -61.1% |
| Trade receivables | 40 | €33,687 | €13,100 | -€20,587 | -61.1% |
| Cash at bank and in hand | 54/58 | €2,750 | €6,122 | +€3,372 | +122.6% |
| Total equity and liabilities | 10/49 | €1,774,435 | €1,686,230 | -€88,205 | -5.0% |
| Equity | 10/15 | -€46,711 | -€179,345 | -€132,634 | -283.9% |
| Contributions | 10/11 | €226,667 | €226,667 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€273,378 | -€406,012 | -€132,634 | -48.5% |
| Amounts payable | 17/49 | €1,821,146 | €1,865,575 | +€44,429 | +2.4% |
| Amounts payable after more than one year | 17 | €1,631,509 | €1,687,908 | +€56,399 | +3.5% |
| Financial debts | 170/4 | €579,498 | €442,908 | -€136,591 | -23.6% |
| Other amounts payable | 178/9 | €1,052,010 | €1,245,000 | +€192,990 | +18.3% |
| Amounts payable within one year | 42/48 | €189,637 | €177,667 | -€11,970 | -6.3% |
| Current portion of amounts payable after more than one year | 42 | €134,861 | €136,591 | +€1,730 | +1.3% |
| Financial debts | 43 | €13 | - | -€13 | |
| Credit institutions | 430/8 | €13 | - | -€13 | |
| Trade debts | 44 | €36,316 | €14,888 | -€21,429 | -59.0% |
| Suppliers | 440/4 | €36,316 | €14,888 | -€21,429 | -59.0% |
| Taxes, remuneration and social security | 45 | €18,448 | €16,634 | -€1,813 | -9.8% |
| Taxes | 450/3 | €5,086 | €3,093 | -€1,992 | -39.2% |
| Remuneration and social security | 454/9 | €13,362 | €13,541 | +€179 | +1.3% |
| Other amounts payable | 47/48 | - | €9,555 | +€9,555 | |
| Remuneration, social security and pensions | 62 | €105,221 | €138,944 | +€33,723 | +32.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,517 | €70,990 | -€526 | -0.7% |
| Other operating charges | 640/8 | €8,496 | €7,667 | -€829 | -9.8% |
| Gross operating margin | 9900 | €87,902 | €94,233 | +€6,331 | +7.2% |
| Operating profit (loss) | 9901 | -€97,331 | -€123,368 | -€26,037 | -26.8% |
| Financial income | 75/76B | €1,968 | €471 | -€1,497 | -76.1% |
| Recurring financial income | 75 | €1,968 | €471 | -€1,497 | -76.1% |
| Financial charges | 65/66B | €10,306 | €9,737 | -€569 | -5.5% |
| Recurring financial charges | 65 | €10,306 | €9,737 | -€569 | -5.5% |
| Profit (loss) for the period before taxes | 9903 | -€105,669 | -€132,634 | -€26,965 | -25.5% |
| Profit (loss) for the period | 9904 | -€105,669 | -€132,634 | -€26,965 | -25.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€105,669 | -€132,634 | -€26,965 | -25.5% |
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 10 October 2026 via checked.be.