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
- Receivables within one year +€24,888
up €24,888 (+501.7%), from €4,961 to €29,849
of which Trade receivables: +€22,561
- Cash -€22,321
down €22,321 (-60.9%), from €36,678 to €14,357
mainly Contributions, distributions and other (-€50,000) and Receivables within one year (-€24,888)
- Profit (loss) carried forward -€24,632
down €24,632 (-98.2%), from €25,085 to €453
- Other debts +€21,324
up €21,324 (+177.6%), from €12,008 to €33,332
- Tax, wage and social debts +€6,019
up €6,019 (+16211.2%), from €37 to €6,056
- Trade debts +€512
up €512 (+87.9%), from €582 to €1,094
- Gross operating margin +€4,495
up €4,495 (+15.0%), from €30,048 to €34,543
- Taxes +€1,022
up €1,022 (+15.5%), from €6,595 to €7,617
- Write-downs +€864
up €864, from -€864 to €0
- Other operating charges -€833
down €833 (-54.0%), from €1,543 to €710
- Financial charges -€369
down €369 (-30.3%), from €1,218 to €849
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 | €41,741 | €44,698 | +€2,958 | +7.1% |
| Current assets | 29/58 | €41,741 | €44,698 | +€2,958 | +7.1% |
| Amounts receivable within one year | 40/41 | €4,961 | €29,849 | +€24,888 | +501.7% |
| Trade receivables | 40 | €0 | €22,561 | +€22,561 | |
| Other amounts receivable | 41 | €4,961 | €7,288 | +€2,327 | +46.9% |
| Cash at bank and in hand | 54/58 | €36,678 | €14,357 | -€22,321 | -60.9% |
| Deferred charges and accrued income | 490/1 | €101 | €492 | +€390 | +384.8% |
| Total equity and liabilities | 10/49 | €41,741 | €44,698 | +€2,958 | +7.1% |
| Equity | 10/15 | €28,085 | €3,453 | -€24,632 | -87.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,085 | €453 | -€24,632 | -98.2% |
| Amounts payable | 17/49 | €13,655 | €41,245 | +€27,590 | +202.0% |
| Amounts payable within one year | 42/48 | €12,627 | €40,482 | +€27,855 | +220.6% |
| Trade debts | 44 | €582 | €1,094 | +€512 | +87.9% |
| Suppliers | 440/4 | €582 | €1,094 | +€512 | +87.9% |
| Taxes, remuneration and social security | 45 | €37 | €6,056 | +€6,019 | +16211.2% |
| Taxes | 450/3 | €37 | €6,056 | +€6,019 | +16211.2% |
| Other amounts payable | 47/48 | €12,008 | €33,332 | +€21,324 | +177.6% |
| Accrued charges and deferred income | 492/3 | €1,029 | €764 | -€265 | -25.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€864 | €0 | +€864 | |
| Other operating charges | 640/8 | €1,543 | €710 | -€833 | -54.0% |
| Gross operating margin | 9900 | €30,048 | €34,543 | +€4,495 | +15.0% |
| Operating profit (loss) | 9901 | €29,369 | €33,833 | +€4,464 | +15.2% |
| Financial income | 75/76B | €0 | €1 | +€1 | |
| Recurring financial income | 75 | €0 | €1 | +€1 | |
| Financial charges | 65/66B | €1,218 | €849 | -€369 | -30.3% |
| Recurring financial charges | 65 | €1,218 | €849 | -€369 | -30.3% |
| Profit (loss) for the period before taxes | 9903 | €28,151 | €32,985 | +€4,834 | +17.2% |
| Income taxes | 67/77 | €6,595 | €7,617 | +€1,022 | +15.5% |
| Profit (loss) for the period | 9904 | €21,556 | €25,368 | +€3,811 | +17.7% |
| Profit (loss) for the period to be appropriated | 9905 | €21,556 | €25,368 | +€3,811 | +17.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.