F.V.S.: 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.S.
Largest movements
- Current investments +€150,997
up €150,997 (+6.6%), from €2.3m to €2.4m
- Receivables within one year +€60,647
up €60,647 (+121.3%), from €50,000 to €110,647
of which Other amounts receivable: +€60,397
- Reserves +€239,688
up €239,688 (+16.3%), from €1.5m to €1.7m
of which Distributable reserves: +€299,094
- Other debts -€30,338
down €30,338 (-40.1%), from €75,583 to €45,245
- Financial income +€24,924
up €24,924 (+33.0%), from €75,640 to €100,564
- Gross operating margin -€13,417
down €13,417 (-4.3%), from €310,299 to €296,882
- Financial charges -€8,534
down €8,534 (-66.9%), from €12,765 to €4,231
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 | €2,484,742 | €2,691,854 | +€207,112 | +8.3% |
| Current assets | 29/58 | €2,484,742 | €2,691,854 | +€207,112 | +8.3% |
| Amounts receivable within one year | 40/41 | €50,000 | €110,647 | +€60,647 | +121.3% |
| Trade receivables | 40 | - | €250 | +€250 | |
| Other amounts receivable | 41 | €50,000 | €110,397 | +€60,397 | +120.8% |
| Current investments | 50/53 | €2,296,407 | €2,447,404 | +€150,997 | +6.6% |
| Cash at bank and in hand | 54/58 | €137,447 | €132,915 | -€4,532 | -3.3% |
| Deferred charges and accrued income | 490/1 | €888 | €888 | = | 0.0% |
| Total equity and liabilities | 10/49 | €2,484,742 | €2,691,854 | +€207,112 | +8.3% |
| Equity | 10/15 | €2,376,471 | €2,616,159 | +€239,688 | +10.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,473,040 | €1,712,728 | +€239,688 | +16.3% |
| Tax-exempt reserves | 132 | €87,473 | €28,067 | -€59,406 | -67.9% |
| Distributable reserves | 133 | €1,385,567 | €1,684,661 | +€299,094 | +21.6% |
| Profit (loss) carried forward | 14 | €884,839 | €884,839 | = | 0.0% |
| Amounts payable | 17/49 | €108,271 | €75,695 | -€32,576 | -30.1% |
| Amounts payable within one year | 42/48 | €108,271 | €75,695 | -€32,576 | -30.1% |
| Trade debts | 44 | €116 | €540 | +€424 | +365.5% |
| Suppliers | 440/4 | €116 | €540 | +€424 | +365.5% |
| Taxes, remuneration and social security | 45 | €32,572 | €29,910 | -€2,662 | -8.2% |
| Taxes | 450/3 | €32,572 | €29,910 | -€2,662 | -8.2% |
| Other amounts payable | 47/48 | €75,583 | €45,245 | -€30,338 | -40.1% |
| Other operating charges | 640/8 | €2,646 | €1,496 | -€1,150 | -43.5% |
| Gross operating margin | 9900 | €310,299 | €296,882 | -€13,417 | -4.3% |
| Operating profit (loss) | 9901 | €307,653 | €295,386 | -€12,267 | -4.0% |
| Financial income | 75/76B | €75,640 | €100,564 | +€24,924 | +33.0% |
| Recurring financial income | 75 | €75,640 | €100,564 | +€24,924 | +33.0% |
| Financial charges | 65/66B | €12,765 | €4,231 | -€8,534 | -66.9% |
| Recurring financial charges | 65 | €12,765 | €4,231 | -€8,534 | -66.9% |
| Profit (loss) for the period before taxes | 9903 | €370,528 | €391,719 | +€21,191 | +5.7% |
| Income taxes | 67/77 | €109,834 | €107,031 | -€2,803 | -2.6% |
| Profit (loss) for the period | 9904 | €260,694 | €284,688 | +€23,994 | +9.2% |
| Transfer from tax-exempt reserves | 789 | €110,027 | €59,406 | -€50,621 | -46.0% |
| Profit (loss) for the period to be appropriated | 9905 | €370,721 | €344,094 | -€26,627 | -7.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.