FUGREX: 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.
FUGREX
Largest movements
- Intangible fixed assets -€12,925
down €12,925 (-36.4%), from €35,545 to €22,619
- Tangible fixed assets -€11,138
down €11,138 (-3.5%), from €316,539 to €305,401
- Cash -€9,424
down €9,424 (-99.8%), from €9,442 to €18
mainly Debts after one year (-€19,200) and Net result for the year (-€15,522)
- Debts after one year -€19,200
down €19,200 (-15.1%), from €127,200 to €108,000
- Revaluation surpluses -€8,000
down €8,000 (-6.0%), from €134,000 to €126,000
- Reserves -€7,522
down €7,522 (-9.7%), from €77,759 to €70,237
of which Distributable reserves: -€7,522
- Gross operating margin +€1,743
up €1,743 (+6.8%), from €25,506 to €27,250
- Depreciation -€559
down €559 (-1.5%), from €36,069 to €35,511
- Taxes +€459
up €459 (+30.6%), from €1,501 to €1,960
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 | €362,262 | €328,804 | -€33,458 | -9.2% |
| Fixed assets | 21/28 | €352,083 | €328,020 | -€24,063 | -6.8% |
| Intangible fixed assets | 21 | €35,545 | €22,619 | -€12,925 | -36.4% |
| Tangible fixed assets | 22/27 | €316,539 | €305,401 | -€11,138 | -3.5% |
| Land and buildings | 22 | €316,539 | €305,401 | -€11,138 | -3.5% |
| Current assets | 29/58 | €10,179 | €784 | -€9,395 | -92.3% |
| Cash at bank and in hand | 54/58 | €9,442 | €18 | -€9,424 | -99.8% |
| Deferred charges and accrued income | 490/1 | €737 | €766 | +€29 | +3.9% |
| Total equity and liabilities | 10/49 | €362,262 | €328,804 | -€33,458 | -9.2% |
| Equity | 10/15 | €231,901 | €216,379 | -€15,522 | -6.7% |
| Contributions | 10/11 | €20,143 | €20,143 | = | 0.0% |
| Outside capital | 11 | €20,143 | €20,143 | = | 0.0% |
| Share premium | 1100/10 | €143 | €143 | = | 0.0% |
| Other | 1109/19 | €20,000 | €20,000 | = | 0.0% |
| Revaluation surpluses | 12 | €134,000 | €126,000 | -€8,000 | -6.0% |
| Reserves | 13 | €77,759 | €70,237 | -€7,522 | -9.7% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €75,759 | €68,237 | -€7,522 | -9.9% |
| Amounts payable | 17/49 | €130,361 | €112,425 | -€17,936 | -13.8% |
| Amounts payable after more than one year | 17 | €127,200 | €108,000 | -€19,200 | -15.1% |
| Other amounts payable | 178/9 | €127,200 | €108,000 | -€19,200 | -15.1% |
| Amounts payable within one year | 42/48 | €3,161 | €4,425 | +€1,264 | +40.0% |
| Trade debts | 44 | - | €285 | +€285 | |
| Suppliers | 440/4 | - | €285 | +€285 | |
| Taxes, remuneration and social security | 45 | €1,500 | €2,000 | +€500 | +33.3% |
| Taxes | 450/3 | €1,500 | €2,000 | +€500 | +33.3% |
| Other amounts payable | 47/48 | €1,661 | €2,140 | +€479 | +28.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,069 | €35,511 | -€559 | -1.5% |
| Other operating charges | 640/8 | €5,165 | €5,254 | +€89 | +1.7% |
| Gross operating margin | 9900 | €25,506 | €27,250 | +€1,743 | +6.8% |
| Operating profit (loss) | 9901 | -€15,728 | -€13,515 | +€2,213 | +14.1% |
| Financial charges | 65/66B | €42 | €47 | +€5 | +11.0% |
| Recurring financial charges | 65 | €42 | €47 | +€5 | +11.0% |
| Profit (loss) for the period before taxes | 9903 | -€15,770 | -€13,562 | +€2,208 | +14.0% |
| Income taxes | 67/77 | €1,501 | €1,960 | +€459 | +30.6% |
| Profit (loss) for the period | 9904 | -€17,271 | -€15,522 | +€1,749 | +10.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,271 | -€15,522 | +€1,749 | +10.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.