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
- Receivables within one year +€34,002
up €34,002 (+96.8%), from €35,118 to €69,120
of which Trade receivables: +€34,002
- Profit (loss) carried forward +€26,359
up €26,359 (+49.8%), from €52,912 to €79,271
- Debts after one year -€16,698
down €16,698 (-20.3%), from €82,111 to €65,413
- Other debts +€9,692
up €9,692 (+59.6%), from €16,271 to €25,963
- Tax, wage and social debts +€8,165
up €8,165 (+49.6%), from €16,475 to €24,640
of which Taxes: +€4,899
- Trade debts +€3,522
up €3,522 (+951%), from €370 to €3,892
- Gross operating margin +€13,832
up €13,832 (+46.5%), from €29,714 to €43,547
- Taxes +€3,318
up €3,318 (+52.0%), from €6,385 to €9,703
- Depreciation +€969
up €969 (+102%), from €953 to €1,921
- Financial charges +€920
up €920 (+25.2%), from €3,652 to €4,572
- Other operating charges +€743
up €743 (+299%), from €249 to €991
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 | €187,240 | €218,878 | +€31,638 | +16.9% |
| Fixed assets | 21/28 | €151,374 | €149,452 | -€1,921 | -1.3% |
| Tangible fixed assets | 22/27 | €2,995 | €1,074 | -€1,921 | -64.2% |
| Plant, machinery and equipment | 23 | €2,995 | €1,074 | -€1,921 | -64.2% |
| Financial fixed assets | 28 | €148,378 | €148,378 | = | 0.0% |
| Current assets | 29/58 | €35,866 | €69,426 | +€33,559 | +93.6% |
| Amounts receivable within one year | 40/41 | €35,118 | €69,120 | +€34,002 | +96.8% |
| Trade receivables | 40 | €5,118 | €39,120 | +€34,002 | +664% |
| Other amounts receivable | 41 | €30,000 | €30,000 | +€0 | 0.0% |
| Cash at bank and in hand | 54/58 | €748 | €47 | -€701 | -93.7% |
| Deferred charges and accrued income | 490/1 | €0 | €258 | +€258 | |
| Total equity and liabilities | 10/49 | €187,240 | €218,878 | +€31,638 | +16.9% |
| Equity | 10/15 | €55,912 | €82,271 | +€26,359 | +47.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,912 | €79,271 | +€26,359 | +49.8% |
| Amounts payable | 17/49 | €131,327 | €136,606 | +€5,279 | +4.0% |
| Amounts payable after more than one year | 17 | €82,111 | €65,413 | -€16,698 | -20.3% |
| Financial debts | 170/4 | €82,111 | €65,413 | -€16,698 | -20.3% |
| Amounts payable within one year | 42/48 | €49,216 | €71,193 | +€21,977 | +44.7% |
| Current portion of amounts payable after more than one year | 42 | €16,099 | €16,698 | +€598 | +3.7% |
| Trade debts | 44 | €370 | €3,892 | +€3,522 | +951% |
| Suppliers | 440/4 | €370 | €3,892 | +€3,522 | +951% |
| Taxes, remuneration and social security | 45 | €16,475 | €24,640 | +€8,165 | +49.6% |
| Taxes | 450/3 | €15,241 | €20,140 | +€4,899 | +32.1% |
| Remuneration and social security | 454/9 | €1,234 | €4,500 | +€3,266 | +265% |
| Other amounts payable | 47/48 | €16,271 | €25,963 | +€9,692 | +59.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €953 | €1,921 | +€969 | +102% |
| Other operating charges | 640/8 | €249 | €991 | +€743 | +299% |
| Gross operating margin | 9900 | €29,714 | €43,547 | +€13,832 | +46.5% |
| Operating profit (loss) | 9901 | €28,513 | €40,634 | +€12,121 | +42.5% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €3,652 | €4,572 | +€920 | +25.2% |
| Recurring financial charges | 65 | €3,652 | €4,572 | +€920 | +25.2% |
| Profit (loss) for the period before taxes | 9903 | €24,861 | €36,062 | +€11,201 | +45.1% |
| Income taxes | 67/77 | €6,385 | €9,703 | +€3,318 | +52.0% |
| Profit (loss) for the period | 9904 | €18,476 | €26,359 | +€7,883 | +42.7% |
| Profit (loss) for the period to be appropriated | 9905 | €18,476 | €26,359 | +€7,883 | +42.7% |
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 15 October 2026 via checked.be.