FDV PROJECTS: 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.
FDV PROJECTS
Largest movements
- Cash +€25,042
up €25,042 (+196%), from €12,769 to €37,811
mainly Depreciation (+€14,397) and Stocks and contracts (+€10,000)
- Stocks and contracts -€10,000
no longer reported in 2025 (was €10,000)
- Receivables within one year -€4,621
down €4,621 (-11.6%), from €39,794 to €35,173
of which Trade receivables: -€4,802
- Tangible fixed assets -€3,575
down €3,575 (-7.8%), from €45,780 to €42,204
of which Plant, machinery and equipment: -€7,074
- Other debts +€6,566
up €6,566 (+7.4%), from €88,944 to €95,510
- Trade debts -€4,586
down €4,586 (-65.2%), from €7,030 to €2,444
- Tax, wage and social debts +€2,964
up €2,964 (+204%), from €1,456 to €4,420
- Profit (loss) carried forward +€1,946
up €1,946 (+327%), from €596 to €2,542
- Gross operating margin +€7,404
up €7,404 (+65.8%), from €11,246 to €18,650
- Depreciation +€3,766
up €3,766 (+35.4%), from €10,632 to €14,397
- Other operating charges -€328
down €328 (-20.1%), from €1,634 to €1,306
- Financial charges +€229
up €229 (+288%), from €80 to €309
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 | €108,342 | €115,233 | +€6,891 | +6.4% |
| Fixed assets | 21/28 | €45,780 | €42,204 | -€3,575 | -7.8% |
| Tangible fixed assets | 22/27 | €45,780 | €42,204 | -€3,575 | -7.8% |
| Plant, machinery and equipment | 23 | €19,334 | €12,260 | -€7,074 | -36.6% |
| Furniture and vehicles | 24 | €26,445 | €29,944 | +€3,499 | +13.2% |
| Current assets | 29/58 | €62,563 | €73,029 | +€10,466 | +16.7% |
| Stocks and contracts in progress | 3 | €10,000 | - | -€10,000 | |
| Contracts in progress | 37 | €10,000 | - | -€10,000 | |
| Amounts receivable within one year | 40/41 | €39,794 | €35,173 | -€4,621 | -11.6% |
| Trade receivables | 40 | €39,212 | €34,410 | -€4,802 | -12.2% |
| Other amounts receivable | 41 | €582 | €763 | +€181 | +31.2% |
| Cash at bank and in hand | 54/58 | €12,769 | €37,811 | +€25,042 | +196% |
| Deferred charges and accrued income | 490/1 | - | €45 | +€45 | |
| Total equity and liabilities | 10/49 | €108,342 | €115,233 | +€6,891 | +6.4% |
| Equity | 10/15 | €10,596 | €12,542 | +€1,946 | +18.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €596 | €2,542 | +€1,946 | +327% |
| Amounts payable | 17/49 | €97,746 | €102,691 | +€4,945 | +5.1% |
| Amounts payable within one year | 42/48 | €97,431 | €102,374 | +€4,944 | +5.1% |
| Trade debts | 44 | €7,030 | €2,444 | -€4,586 | -65.2% |
| Suppliers | 440/4 | €7,030 | €2,444 | -€4,586 | -65.2% |
| Taxes, remuneration and social security | 45 | €1,456 | €4,420 | +€2,964 | +204% |
| Taxes | 450/3 | €1,456 | €4,420 | +€2,964 | +204% |
| Other amounts payable | 47/48 | €88,944 | €95,510 | +€6,566 | +7.4% |
| Accrued charges and deferred income | 492/3 | €316 | €317 | +€1 | +0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,632 | €14,397 | +€3,766 | +35.4% |
| Other operating charges | 640/8 | €1,634 | €1,306 | -€328 | -20.1% |
| Gross operating margin | 9900 | €11,246 | €18,650 | +€7,404 | +65.8% |
| Operating profit (loss) | 9901 | -€1,020 | €2,946 | +€3,966 | |
| Financial charges | 65/66B | €80 | €309 | +€229 | +288% |
| Recurring financial charges | 65 | €80 | €309 | +€229 | +288% |
| Profit (loss) for the period before taxes | 9903 | -€1,100 | €2,637 | +€3,737 | |
| Income taxes | 67/77 | €747 | €691 | -€56 | -7.5% |
| Profit (loss) for the period | 9904 | -€1,847 | €1,946 | +€3,793 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,847 | €1,946 | +€3,793 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.