FNGA: 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.
FNGA
Largest movements
- Receivables within one year -€215,375
down €215,375 (-88.3%), from €243,919 to €28,544
of which Trade receivables: -€218,415
- Tangible fixed assets -€79,709
down €79,709 (-6.7%), from €1.2m to €1.1m
of which Land and buildings: -€77,405
- Current investments +€45,017
up €45,017 (+448%), from €10,048 to €55,065
- Trade debts -€217,540
down €217,540 (-98.4%), from €221,109 to €3,568
- Debts after one year -€76,794
down €76,794 (-16.0%), from €481,434 to €404,641
- Gross operating margin +€26,169
up €26,169 (+24.0%), from €109,103 to €135,272
- Taxes +€7,432
up €7,432 (+1,453%), from €512 to €7,944
- Financial charges +€1,846
up €1,846 (+7.7%), from €24,022 to €25,868
- Other operating charges -€1,611
down €1,611 (-29.5%), from €5,458 to €3,847
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 | €2,036,544 | €1,776,104 | -€260,439 | -12.8% |
| Fixed assets | 21/28 | €1,760,524 | €1,680,815 | -€79,709 | -4.5% |
| Tangible fixed assets | 22/27 | €1,190,524 | €1,110,815 | -€79,709 | -6.7% |
| Land and buildings | 22 | €1,176,451 | €1,099,045 | -€77,405 | -6.6% |
| Plant, machinery and equipment | 23 | €1,498 | €877 | -€621 | -41.4% |
| Furniture and vehicles | 24 | €12,575 | €10,893 | -€1,683 | -13.4% |
| Financial fixed assets | 28 | €570,000 | €570,000 | = | 0.0% |
| Current assets | 29/58 | €276,019 | €95,289 | -€180,730 | -65.5% |
| Amounts receivable within one year | 40/41 | €243,919 | €28,544 | -€215,375 | -88.3% |
| Trade receivables | 40 | €218,415 | €0 | -€218,415 | -100% |
| Other amounts receivable | 41 | €25,504 | €28,544 | +€3,040 | +11.9% |
| Current investments | 50/53 | €10,048 | €55,065 | +€45,017 | +448% |
| Cash at bank and in hand | 54/58 | €20,521 | €7,951 | -€12,570 | -61.3% |
| Deferred charges and accrued income | 490/1 | €1,531 | €3,729 | +€2,198 | +144% |
| Total equity and liabilities | 10/49 | €2,036,544 | €1,776,104 | -€260,439 | -12.8% |
| Equity | 10/15 | €1,005,485 | €1,017,416 | +€11,931 | +1.2% |
| Contributions | 10/11 | €588,600 | €588,600 | = | 0.0% |
| Reserves | 13 | €423,769 | €428,816 | +€5,047 | +1.2% |
| Distributable reserves | 133 | €423,769 | €428,816 | +€5,047 | +1.2% |
| Profit (loss) carried forward | 14 | -€6,884 | €0 | +€6,884 | |
| Amounts payable | 17/49 | €1,031,059 | €758,688 | -€272,370 | -26.4% |
| Amounts payable after more than one year | 17 | €481,434 | €404,641 | -€76,794 | -16.0% |
| Financial debts | 170/4 | €481,434 | €404,641 | -€76,794 | -16.0% |
| Amounts payable within one year | 42/48 | €549,624 | €354,047 | -€195,577 | -35.6% |
| Current portion of amounts payable after more than one year | 42 | €75,493 | €76,794 | +€1,301 | +1.7% |
| Financial debts | 43 | €144 | €64 | -€80 | -55.4% |
| Credit institutions | 430/8 | €144 | €64 | -€80 | -55.4% |
| Trade debts | 44 | €221,109 | €3,568 | -€217,540 | -98.4% |
| Suppliers | 440/4 | €221,109 | €3,568 | -€217,540 | -98.4% |
| Taxes, remuneration and social security | 45 | €13,645 | €16,897 | +€3,252 | +23.8% |
| Taxes | 450/3 | €13,645 | €16,897 | +€3,252 | +23.8% |
| Other amounts payable | 47/48 | €239,234 | €256,725 | +€17,491 | +7.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,033 | €85,699 | -€333 | -0.4% |
| Other operating charges | 640/8 | €5,458 | €3,847 | -€1,611 | -29.5% |
| Gross operating margin | 9900 | €109,103 | €135,272 | +€26,169 | +24.0% |
| Operating profit (loss) | 9901 | €17,613 | €45,726 | +€28,113 | +160% |
| Financial income | 75/76B | €37 | €17 | -€20 | -54.6% |
| Recurring financial income | 75 | €37 | €17 | -€20 | -54.6% |
| Financial charges | 65/66B | €24,022 | €25,868 | +€1,846 | +7.7% |
| Recurring financial charges | 65 | €24,022 | €25,868 | +€1,846 | +7.7% |
| Profit (loss) for the period before taxes | 9903 | -€6,372 | €19,875 | +€26,247 | |
| Income taxes | 67/77 | €512 | €7,944 | +€7,432 | +1,453% |
| Profit (loss) for the period | 9904 | -€6,884 | €11,931 | +€18,815 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,884 | €11,931 | +€18,815 |
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.