FC&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.
FC&V
Largest movements
- Tangible fixed assets -€51,710
down €51,710 (-24.1%), from €214,956 to €163,246
of which Land and buildings: -€50,170
- Cash -€13,733
down €13,733 (-59.6%), from €23,023 to €9,290
mainly Debts after one year (-€35,976) and Net result for the year (-€17,689)
- Debts after one year -€35,976
down €35,976 (-50.9%), from €70,656 to €34,680
- Reserves -€17,689
down €17,689 (-37.6%), from €47,014 to €29,325
- Other debts -€8,281
down €8,281 (-13.8%), from €59,876 to €51,596
- Current portion of long-term debt -€4,772
down €4,772 (-11.7%), from €40,748 to €35,976
- Depreciation -€16,920
down €16,920 (-24.7%), from €68,631 to €51,710
- Gross operating margin -€10,154
down €10,154 (-20.6%), from €49,299 to €39,146
- Financial charges -€2,649
down €2,649 (-55.7%), from €4,757 to €2,107
- Other operating charges +€691
up €691 (+35.0%), from €1,975 to €2,666
- Taxes -€648
down €648 (-64.9%), from €998 to €350
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 | €239,479 | €172,894 | -€66,585 | -27.8% |
| Fixed assets | 21/28 | €215,314 | €163,604 | -€51,710 | -24.0% |
| Tangible fixed assets | 22/27 | €214,956 | €163,246 | -€51,710 | -24.1% |
| Land and buildings | 22 | €213,167 | €162,998 | -€50,170 | -23.5% |
| Plant, machinery and equipment | 23 | €622 | €159 | -€464 | -74.5% |
| Furniture and vehicles | 24 | €1,167 | €89 | -€1,077 | -92.3% |
| Financial fixed assets | 28 | €358 | €358 | = | 0.0% |
| Current assets | 29/58 | €24,165 | €9,290 | -€14,875 | -61.6% |
| Amounts receivable within one year | 40/41 | €1,142 | €0 | -€1,142 | -100.0% |
| Trade receivables | 40 | €1,142 | €0 | -€1,142 | -100.0% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €23,023 | €9,290 | -€13,733 | -59.6% |
| Total equity and liabilities | 10/49 | €239,479 | €172,894 | -€66,585 | -27.8% |
| Equity | 10/15 | €65,614 | €47,925 | -€17,689 | -27.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €47,014 | €29,325 | -€17,689 | -37.6% |
| Distributable reserves | 133 | €47,014 | €29,325 | -€17,689 | -37.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €173,865 | €124,969 | -€48,896 | -28.1% |
| Amounts payable after more than one year | 17 | €70,656 | €34,680 | -€35,976 | -50.9% |
| Financial debts | 170/4 | €70,656 | €34,680 | -€35,976 | -50.9% |
| Amounts payable within one year | 42/48 | €103,209 | €90,289 | -€12,920 | -12.5% |
| Current portion of amounts payable after more than one year | 42 | €40,748 | €35,976 | -€4,772 | -11.7% |
| Trade debts | 44 | €320 | €320 | = | 0.0% |
| Suppliers | 440/4 | €320 | €320 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €2,265 | €2,397 | +€132 | +5.8% |
| Taxes | 450/3 | €2,265 | €2,397 | +€132 | +5.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €59,876 | €51,596 | -€8,281 | -13.8% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,631 | €51,710 | -€16,920 | -24.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€138 | €0 | +€138 | |
| Other operating charges | 640/8 | €1,975 | €2,666 | +€691 | +35.0% |
| Gross operating margin | 9900 | €49,299 | €39,146 | -€10,154 | -20.6% |
| Operating profit (loss) | 9901 | -€21,169 | -€15,231 | +€5,938 | +28.0% |
| Financial charges | 65/66B | €4,757 | €2,107 | -€2,649 | -55.7% |
| Recurring financial charges | 65 | €4,757 | €2,107 | -€2,649 | -55.7% |
| Profit (loss) for the period before taxes | 9903 | -€25,926 | -€17,339 | +€8,587 | +33.1% |
| Income taxes | 67/77 | €998 | €350 | -€648 | -64.9% |
| Profit (loss) for the period | 9904 | -€26,924 | -€17,689 | +€9,235 | +34.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,924 | -€17,689 | +€9,235 | +34.3% |
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 3 October 2026 via checked.be.