F.V.K. Management Services: 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.
F.V.K. Management Services
Largest movements
- Tangible fixed assets +€220,877
up €220,877 (+45.4%), from €486,807 to €707,684
of which Other tangible fixed assets: +€163,992
- Cash -€103,103
down €103,103 (-57.7%), from €178,550 to €75,447
mainly Investment in fixed assets (net) (-€289,884) and Receivables within one year (-€70,723)
- Receivables within one year +€70,723
up €70,723 (+786%), from €8,997 to €79,720
of which Other amounts receivable: +€51,687
- Debts after one year +€286,851
up €286,851 (+81.3%), from €352,787 to €639,638
of which Financial debts: +€276,451
- Other debts -€64,241
down €64,241 (-41.7%), from €153,927 to €89,686
- Profit (loss) carried forward -€44,283
down €44,283 (-704%), from -€6,288 to -€50,571
- Current portion of long-term debt +€20,762
new in 2025: €20,762
- Trade debts -€11,528
down €11,528 (-58.6%), from €19,675 to €8,147
- Depreciation +€27,547
up €27,547 (+66.4%), from €41,460 to €69,007
- Gross operating margin +€25,641
up €25,641 (+98.0%), from €26,171 to €51,812
- Financial charges +€9,033
up €9,033 (+65.3%), from €13,832 to €22,865
- Other operating charges +€1,637
up €1,637 (+75.0%), from €2,182 to €3,819
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 | €680,060 | €871,123 | +€191,063 | +28.1% |
| Fixed assets | 21/28 | €486,915 | €707,792 | +€220,877 | +45.4% |
| Tangible fixed assets | 22/27 | €486,807 | €707,684 | +€220,877 | +45.4% |
| Furniture and vehicles | 24 | €2,713 | €59,598 | +€56,885 | +2,097% |
| Other tangible fixed assets | 26 | €484,094 | €648,086 | +€163,992 | +33.9% |
| Financial fixed assets | 28 | €108 | €108 | = | 0.0% |
| Current assets | 29/58 | €193,145 | €163,331 | -€29,814 | -15.4% |
| Amounts receivable within one year | 40/41 | €8,997 | €79,720 | +€70,723 | +786% |
| Trade receivables | 40 | €1,680 | €20,716 | +€19,036 | +1,133% |
| Other amounts receivable | 41 | €7,317 | €59,004 | +€51,687 | +706% |
| Cash at bank and in hand | 54/58 | €178,550 | €75,447 | -€103,103 | -57.7% |
| Deferred charges and accrued income | 490/1 | €5,598 | €8,164 | +€2,566 | +45.8% |
| Total equity and liabilities | 10/49 | €680,060 | €871,123 | +€191,063 | +28.1% |
| Equity | 10/15 | €144,212 | €99,929 | -€44,283 | -30.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €88,500 | €88,500 | = | 0.0% |
| Distributable reserves | 133 | €88,500 | €88,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,288 | -€50,571 | -€44,283 | -704% |
| Amounts payable | 17/49 | €535,848 | €771,193 | +€235,346 | +43.9% |
| Amounts payable after more than one year | 17 | €352,787 | €639,638 | +€286,851 | +81.3% |
| Financial debts | 170/4 | €352,787 | €629,238 | +€276,451 | +78.4% |
| Other amounts payable | 178/9 | - | €10,400 | +€10,400 | |
| Amounts payable within one year | 42/48 | €176,699 | €127,971 | -€48,728 | -27.6% |
| Current portion of amounts payable after more than one year | 42 | - | €20,762 | +€20,762 | |
| Trade debts | 44 | €19,675 | €8,147 | -€11,528 | -58.6% |
| Suppliers | 440/4 | €19,675 | €8,147 | -€11,528 | -58.6% |
| Taxes, remuneration and social security | 45 | €3,097 | €9,376 | +€6,280 | +203% |
| Taxes | 450/3 | €3,097 | €9,376 | +€6,280 | +203% |
| Other amounts payable | 47/48 | €153,927 | €89,686 | -€64,241 | -41.7% |
| Accrued charges and deferred income | 492/3 | €6,362 | €3,584 | -€2,778 | -43.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,460 | €69,007 | +€27,547 | +66.4% |
| Other operating charges | 640/8 | €2,182 | €3,819 | +€1,637 | +75.0% |
| Non-recurring operating charges | 66A | €53 | €53 | = | 0.0% |
| Gross operating margin | 9900 | €26,171 | €51,812 | +€25,641 | +98.0% |
| Operating profit (loss) | 9901 | -€17,525 | -€21,067 | -€3,542 | -20.2% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €13,832 | €22,865 | +€9,033 | +65.3% |
| Recurring financial charges | 65 | €13,832 | €22,865 | +€9,033 | +65.3% |
| Profit (loss) for the period before taxes | 9903 | -€31,357 | -€43,933 | -€12,576 | -40.1% |
| Income taxes | 67/77 | €183 | €350 | +€167 | +91.4% |
| Profit (loss) for the period | 9904 | -€31,540 | -€44,283 | -€12,743 | -40.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€31,540 | -€44,283 | -€12,743 | -40.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.