FIVAS: 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.
FIVAS
Largest movements
- Receivables within one year +€22,998
up €22,998 (+68.4%), from €33,623 to €56,621
of which Other amounts receivable: +€26,705
- Cash +€7,712
up €7,712 (+43.8%), from €17,592 to €25,304
mainly Net result for the year (+€36,876) and Tax, wage and social debts (+€16,299)
- Reserves +€36,876
up €36,876 (+18.9%), from €195,050 to €231,926
- Tax, wage and social debts +€16,299
up €16,299 (+409%), from €3,982 to €20,281
of which Taxes: +€16,313
- Short-term financial debts -€14,937
down €14,937 (-66.7%), from €22,383 to €7,446
- Other debts -€8,233
no longer reported in 2025 (was €8,233)
- Gross operating margin +€31,733
up €31,733 (+65.0%), from €48,795 to €80,528
- Taxes +€7,720
up €7,720 (+91.7%), from €8,418 to €16,138
- Depreciation +€1,187
up €1,187 (+420%), from €283 to €1,470
- Financial charges +€960
up €960 (+24.3%), from €3,952 to €4,912
- Financial income +€901
new in 2025: €901
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 | €251,285 | €283,268 | +€31,983 | +12.7% |
| Fixed assets | 21/28 | €199,938 | €199,688 | -€250 | -0.1% |
| Tangible fixed assets | 22/27 | €199,938 | €199,688 | -€250 | -0.1% |
| Plant, machinery and equipment | 23 | €1,162 | €88 | -€1,074 | -92.4% |
| Furniture and vehicles | 24 | €1,213 | €2,036 | +€823 | +67.9% |
| Other tangible fixed assets | 26 | €197,564 | €197,564 | = | 0.0% |
| Current assets | 29/58 | €51,347 | €83,580 | +€32,233 | +62.8% |
| Amounts receivable within one year | 40/41 | €33,623 | €56,621 | +€22,998 | +68.4% |
| Trade receivables | 40 | €29,894 | €26,187 | -€3,707 | -12.4% |
| Other amounts receivable | 41 | €3,729 | €30,434 | +€26,705 | +716% |
| Cash at bank and in hand | 54/58 | €17,592 | €25,304 | +€7,712 | +43.8% |
| Deferred charges and accrued income | 490/1 | €131 | €1,655 | +€1,524 | +1,160% |
| Total equity and liabilities | 10/49 | €251,285 | €283,268 | +€31,983 | +12.7% |
| Equity | 10/15 | €213,897 | €250,772 | +€36,876 | +17.2% |
| Contributions | 10/11 | €18,697 | €18,697 | = | 0.0% |
| Reserves | 13 | €195,050 | €231,926 | +€36,876 | +18.9% |
| Distributable reserves | 133 | €195,050 | €231,926 | +€36,876 | +18.9% |
| Profit (loss) carried forward | 14 | €149 | €149 | = | 0.0% |
| Amounts payable | 17/49 | €37,388 | €32,496 | -€4,893 | -13.1% |
| Amounts payable within one year | 42/48 | €36,138 | €31,246 | -€4,893 | -13.5% |
| Financial debts | 43 | €22,383 | €7,446 | -€14,937 | -66.7% |
| Credit institutions | 430/8 | €22,383 | €7,446 | -€14,937 | -66.7% |
| Trade debts | 44 | €1,541 | €3,519 | +€1,978 | +128% |
| Suppliers | 440/4 | €1,541 | €3,519 | +€1,978 | +128% |
| Taxes, remuneration and social security | 45 | €3,982 | €20,281 | +€16,299 | +409% |
| Taxes | 450/3 | €997 | €17,310 | +€16,313 | +1,636% |
| Remuneration and social security | 454/9 | €2,984 | €2,970 | -€14 | -0.5% |
| Other amounts payable | 47/48 | €8,233 | - | -€8,233 | |
| Accrued charges and deferred income | 492/3 | €1,250 | €1,250 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €20,207 | €20,674 | +€467 | +2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €283 | €1,470 | +€1,187 | +420% |
| Other operating charges | 640/8 | €1,256 | €1,359 | +€103 | +8.2% |
| Gross operating margin | 9900 | €48,795 | €80,528 | +€31,733 | +65.0% |
| Operating profit (loss) | 9901 | €27,050 | €57,025 | +€29,975 | +111% |
| Financial income | 75/76B | - | €901 | +€901 | |
| Recurring financial income | 75 | - | €901 | +€901 | |
| Financial charges | 65/66B | €3,952 | €4,912 | +€960 | +24.3% |
| Recurring financial charges | 65 | €3,952 | €4,912 | +€960 | +24.3% |
| Profit (loss) for the period before taxes | 9903 | €23,099 | €53,014 | +€29,916 | +130% |
| Income taxes | 67/77 | €8,418 | €16,138 | +€7,720 | +91.7% |
| Profit (loss) for the period | 9904 | €14,680 | €36,876 | +€22,196 | +151% |
| Profit (loss) for the period to be appropriated | 9905 | €14,680 | €36,876 | +€22,196 | +151% |
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 16 October 2026 via checked.be.