F.V.: 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.
F.V.
Largest movements
- Tangible fixed assets -€29,995
down €29,995 (-3.6%), from €835,860 to €805,865
No liability line moved by more than 1% of the balance sheet total.
- Financial charges +€6,485
up €6,485 (+10.9%), from €59,290 to €65,775
- Gross operating margin -€1,879
down €1,879 (-1.8%), from €105,347 to €103,468
- Staff costs -€1,290
no longer reported in 2025 (was €1,290)
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 | €2,122,102 | €2,093,496 | -€28,606 | -1.3% |
| Fixed assets | 21/28 | €2,116,331 | €2,086,336 | -€29,995 | -1.4% |
| Tangible fixed assets | 22/27 | €835,860 | €805,865 | -€29,995 | -3.6% |
| Land and buildings | 22 | €835,860 | €805,865 | -€29,995 | -3.6% |
| Financial fixed assets | 28 | €1,280,471 | €1,280,471 | = | 0.0% |
| Current assets | 29/58 | €5,771 | €7,160 | +€1,389 | +24.1% |
| Cash at bank and in hand | 54/58 | €4,330 | €5,676 | +€1,346 | +31.1% |
| Deferred charges and accrued income | 490/1 | €1,442 | €1,484 | +€43 | +3.0% |
| Total equity and liabilities | 10/49 | €2,122,102 | €2,093,496 | -€28,606 | -1.3% |
| Equity | 10/15 | €533,155 | €526,835 | -€6,320 | -1.2% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Outside capital | 11 | €61,973 | €61,973 | = | 0.0% |
| Other | 1109/19 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €471,182 | €464,862 | -€6,320 | -1.3% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €464,985 | €458,664 | -€6,320 | -1.4% |
| Provisions and deferred taxes | 16 | €15,252 | €15,252 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €15,252 | €15,252 | = | 0.0% |
| Major repairs and maintenance | 162 | €15,252 | €15,252 | = | 0.0% |
| Amounts payable | 17/49 | €1,573,695 | €1,551,410 | -€22,286 | -1.4% |
| Amounts payable within one year | 42/48 | €1,514,908 | €1,502,589 | -€12,319 | -0.8% |
| Trade debts | 44 | €598 | €716 | +€118 | +19.7% |
| Suppliers | 440/4 | €598 | €716 | +€118 | +19.7% |
| Taxes, remuneration and social security | 45 | €4,873 | €5,427 | +€554 | +11.4% |
| Taxes | 450/3 | €3,373 | €2,427 | -€946 | -28.0% |
| Remuneration and social security | 454/9 | €1,500 | €3,000 | +€1,500 | +100.0% |
| Other amounts payable | 47/48 | €1,509,437 | €1,496,446 | -€12,991 | -0.9% |
| Accrued charges and deferred income | 492/3 | €58,787 | €48,821 | -€9,967 | -17.0% |
| Remuneration, social security and pensions | 62 | €1,290 | - | -€1,290 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,995 | €29,995 | = | 0.0% |
| Other operating charges | 640/8 | €12,969 | €13,087 | +€118 | +0.9% |
| Gross operating margin | 9900 | €105,347 | €103,468 | -€1,879 | -1.8% |
| Operating profit (loss) | 9901 | €61,093 | €60,386 | -€707 | -1.2% |
| Financial charges | 65/66B | €59,290 | €65,775 | +€6,485 | +10.9% |
| Recurring financial charges | 65 | €59,290 | €65,775 | +€6,485 | +10.9% |
| Profit (loss) for the period before taxes | 9903 | €1,803 | -€5,388 | -€7,192 | |
| Income taxes | 67/77 | €598 | €932 | +€334 | +55.9% |
| Profit (loss) for the period | 9904 | €1,206 | -€6,320 | -€7,526 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,206 | -€6,320 | -€7,526 |
Source: filed annual accounts (NBB), fiscal years ended 30 April 2024 and 30 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.