GF FPI: 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.
GF FPI
Largest movements
- Tangible fixed assets -€53,587
down €53,587 (-5.4%), from €993,210 to €939,623
of which Land and buildings: -€63,331
- Receivables within one year -€39,550
down €39,550 (-98.9%), from €40,000 to €450
- Stocks and contracts +€34,000
up €34,000 (+6.4%), from €529,773 to €563,773
- Cash +€22,710
up €22,710 (+243%), from €9,363 to €32,074
mainly Depreciation (+€65,105) and Receivables within one year (+€39,550)
- Other debts -€42,833
down €42,833 (-3.0%), from €1.4m to €1.4m
- Advances received -€40,765
no longer reported in 2025 (was €40,765)
- Tax, wage and social debts +€24,155
up €24,155 (+87.8%), from €27,515 to €51,670
of which Taxes: +€16,433
- Profit (loss) carried forward +€23,399
up €23,399 (+45.3%), from €51,698 to €75,097
- Gross operating margin +€144,608
up €144,608 (+71.6%), from €202,010 to €346,618
- Staff costs +€68,267
up €68,267 (+37.6%), from €181,421 to €249,687
- Depreciation +€46,843
up €46,843 (+256%), from €18,263 to €65,105
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 | €1,612,544 | €1,568,533 | -€44,011 | -2.7% |
| Fixed assets | 21/28 | €1,032,903 | €969,323 | -€63,579 | -6.2% |
| Intangible fixed assets | 21 | €39,693 | €29,701 | -€9,992 | -25.2% |
| Tangible fixed assets | 22/27 | €993,210 | €939,623 | -€53,587 | -5.4% |
| Land and buildings | 22 | €980,597 | €917,266 | -€63,331 | -6.5% |
| Furniture and vehicles | 24 | €12,613 | €22,356 | +€9,744 | +77.3% |
| Current assets | 29/58 | €579,641 | €599,209 | +€19,568 | +3.4% |
| Stocks and contracts in progress | 3 | €529,773 | €563,773 | +€34,000 | +6.4% |
| Stocks | 30/36 | €529,773 | €563,773 | +€34,000 | +6.4% |
| Amounts receivable within one year | 40/41 | €40,000 | €450 | -€39,550 | -98.9% |
| Trade receivables | 40 | €40,000 | €450 | -€39,550 | -98.9% |
| Cash at bank and in hand | 54/58 | €9,363 | €32,074 | +€22,710 | +243% |
| Deferred charges and accrued income | 490/1 | €505 | €2,914 | +€2,408 | +477% |
| Total equity and liabilities | 10/49 | €1,612,544 | €1,568,533 | -€44,011 | -2.7% |
| Equity | 10/15 | €109,347 | €132,746 | +€23,399 | +21.4% |
| Contributions | 10/11 | €57,649 | €57,649 | = | 0.0% |
| Profit (loss) carried forward | 14 | €51,698 | €75,097 | +€23,399 | +45.3% |
| Amounts payable | 17/49 | €1,503,197 | €1,435,787 | -€67,410 | -4.5% |
| Amounts payable within one year | 42/48 | €1,503,197 | €1,435,787 | -€67,410 | -4.5% |
| Trade debts | 44 | €15,658 | €7,692 | -€7,967 | -50.9% |
| Suppliers | 440/4 | €15,658 | €7,692 | -€7,967 | -50.9% |
| Advances received on contracts in progress | 46 | €40,765 | - | -€40,765 | |
| Taxes, remuneration and social security | 45 | €27,515 | €51,670 | +€24,155 | +87.8% |
| Taxes | 450/3 | €5,521 | €21,954 | +€16,433 | +298% |
| Remuneration and social security | 454/9 | €21,995 | €29,716 | +€7,722 | +35.1% |
| Other amounts payable | 47/48 | €1,419,258 | €1,376,425 | -€42,833 | -3.0% |
| Remuneration, social security and pensions | 62 | €181,421 | €249,687 | +€68,267 | +37.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,263 | €65,105 | +€46,843 | +256% |
| Other operating charges | 640/8 | €2,377 | €2,429 | +€52 | +2.2% |
| Gross operating margin | 9900 | €202,010 | €346,618 | +€144,608 | +71.6% |
| Operating profit (loss) | 9901 | -€50 | €29,397 | +€29,447 | |
| Financial charges | 65/66B | €2,566 | €5,998 | +€3,432 | +134% |
| Recurring financial charges | 65 | €2,566 | €5,998 | +€3,432 | +134% |
| Profit (loss) for the period before taxes | 9903 | -€2,616 | €23,399 | +€26,015 | |
| Profit (loss) for the period | 9904 | -€2,616 | €23,399 | +€26,015 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,616 | €23,399 | +€26,015 |
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 27 October 2026 via checked.be.