FUGAZI: 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.
FUGAZI
Largest movements
- Cash +€129,574
up €129,574 (+487%), from €26,628 to €156,203
mainly Current portion of long-term debt (+€103,980) and Net result for the year (+€33,749)
- Receivables within one year -€13,273
down €13,273 (-53.1%), from €24,990 to €11,717
of which Trade receivables: -€12,971
- Tangible fixed assets +€8,832
up €8,832 (+95.8%), from €9,214 to €18,046
of which Other tangible fixed assets: +€11,594
- Current portion of long-term debt +€103,980
new in 2024: €103,980
- Reserves +€32,083
up €32,083 (+42.2%), from €75,976 to €108,058
- Trade debts -€11,255
down €11,255 (-54.1%), from €20,795 to €9,540
- Other debts -€8,441
down €8,441 (-8.0%), from €105,810 to €97,369
- Tax, wage and social debts +€7,149
up €7,149 (+19.5%), from €36,629 to €43,778
of which Taxes: +€4,149
- Gross operating margin -€40,815
down €40,815 (-42.8%), from €95,432 to €54,617
- Taxes -€13,760
down €13,760 (-59.0%), from €23,325 to €9,565
- Financial charges -€4,080
down €4,080 (-70.4%), from €5,792 to €1,712
- Other operating charges -€1,841
down €1,841 (-85.8%), from €2,145 to €304
- Depreciation +€962
up €962 (+31.5%), from €3,051 to €4,013
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €254,710 | €378,225 | +€123,515 | +48.5% |
| Fixed assets | 21/28 | €9,214 | €18,046 | +€8,832 | +95.8% |
| Tangible fixed assets | 22/27 | €9,214 | €18,046 | +€8,832 | +95.8% |
| Furniture and vehicles | 24 | €9,214 | €6,453 | -€2,762 | -30.0% |
| Other tangible fixed assets | 26 | - | €11,594 | +€11,594 | |
| Current assets | 29/58 | €245,496 | €360,179 | +€114,683 | +46.7% |
| Stocks and contracts in progress | 3 | €192,792 | €191,094 | -€1,698 | -0.9% |
| Stocks | 30/36 | €192,792 | €191,094 | -€1,698 | -0.9% |
| Amounts receivable within one year | 40/41 | €24,990 | €11,717 | -€13,273 | -53.1% |
| Trade receivables | 40 | €24,684 | €11,713 | -€12,971 | -52.5% |
| Other amounts receivable | 41 | €307 | €4 | -€302 | -98.5% |
| Cash at bank and in hand | 54/58 | €26,628 | €156,203 | +€129,574 | +487% |
| Deferred charges and accrued income | 490/1 | €1,085 | €1,165 | +€80 | +7.4% |
| Total equity and liabilities | 10/49 | €254,710 | €378,225 | +€123,515 | +48.5% |
| Equity | 10/15 | €91,476 | €123,558 | +€32,083 | +35.1% |
| Contributions | 10/11 | €15,500 | €15,500 | = | 0.0% |
| Reserves | 13 | €75,976 | €108,058 | +€32,083 | +42.2% |
| Distributable reserves | 133 | €75,976 | €108,058 | +€32,083 | +42.2% |
| Amounts payable | 17/49 | €163,235 | €254,667 | +€91,433 | +56.0% |
| Amounts payable within one year | 42/48 | €163,235 | €254,667 | +€91,433 | +56.0% |
| Current portion of amounts payable after more than one year | 42 | - | €103,980 | +€103,980 | |
| Trade debts | 44 | €20,795 | €9,540 | -€11,255 | -54.1% |
| Suppliers | 440/4 | €20,795 | €9,540 | -€11,255 | -54.1% |
| Taxes, remuneration and social security | 45 | €36,629 | €43,778 | +€7,149 | +19.5% |
| Taxes | 450/3 | €36,629 | €40,778 | +€4,149 | +11.3% |
| Remuneration and social security | 454/9 | - | €3,000 | +€3,000 | |
| Other amounts payable | 47/48 | €105,810 | €97,369 | -€8,441 | -8.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,051 | €4,013 | +€962 | +31.5% |
| Other operating charges | 640/8 | €2,145 | €304 | -€1,841 | -85.8% |
| Non-recurring operating charges | 66A | - | €5,278 | +€5,278 | |
| Gross operating margin | 9900 | €95,432 | €54,617 | -€40,815 | -42.8% |
| Operating profit (loss) | 9901 | €90,235 | €45,023 | -€45,213 | -50.1% |
| Financial income | 75/76B | €446 | €3 | -€443 | -99.2% |
| Recurring financial income | 75 | €446 | €3 | -€443 | -99.2% |
| Financial charges | 65/66B | €5,792 | €1,712 | -€4,080 | -70.4% |
| Recurring financial charges | 65 | €5,792 | €1,712 | -€4,080 | -70.4% |
| Profit (loss) for the period before taxes | 9903 | €84,890 | €43,314 | -€41,576 | -49.0% |
| Income taxes | 67/77 | €23,325 | €9,565 | -€13,760 | -59.0% |
| Profit (loss) for the period | 9904 | €61,564 | €33,749 | -€27,816 | -45.2% |
| Profit (loss) for the period to be appropriated | 9905 | €61,564 | €33,749 | -€27,816 | -45.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.