FM3V: 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.
FM3V
Largest movements
- Receivables within one year +€67,751
up €67,751 (+21.6%), from €313,773 to €381,524
of which Other amounts receivable: +€68,169
- Cash -€8,267
no longer reported in 2025 (was €8,267)
mainly Contributions, distributions and other (-€150,000) and Receivables within one year (-€67,751)
- Other debts +€150,000
new in 2025: €150,000
- Profit (loss) carried forward -€149,953
down €149,953 (-73.8%), from €203,278 to €53,325
- Reserves +€49,600
up €49,600 (+77.5%), from €64,000 to €113,600
- Gross operating margin -€18,288
down €18,288 (-19.1%), from €95,888 to €77,600
- Taxes -€3,779
down €3,779 (-14.8%), from €25,592 to €21,813
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 | €328,488 | €384,333 | +€55,845 | +17.0% |
| Fixed assets | 21/28 | €6,214 | €2,571 | -€3,643 | -58.6% |
| Tangible fixed assets | 22/27 | €6,214 | €2,571 | -€3,643 | -58.6% |
| Furniture and vehicles | 24 | €6,214 | €2,571 | -€3,643 | -58.6% |
| Current assets | 29/58 | €322,274 | €381,762 | +€59,488 | +18.5% |
| Amounts receivable within one year | 40/41 | €313,773 | €381,524 | +€67,751 | +21.6% |
| Trade receivables | 40 | €418 | - | -€418 | |
| Other amounts receivable | 41 | €313,355 | €381,524 | +€68,169 | +21.8% |
| Cash at bank and in hand | 54/58 | €8,267 | - | -€8,267 | |
| Deferred charges and accrued income | 490/1 | €234 | €238 | +€4 | +1.7% |
| Total equity and liabilities | 10/49 | €328,488 | €384,333 | +€55,845 | +17.0% |
| Equity | 10/15 | €272,278 | €171,925 | -€100,353 | -36.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €64,000 | €113,600 | +€49,600 | +77.5% |
| Distributable reserves | 133 | €64,000 | €113,600 | +€49,600 | +77.5% |
| Profit (loss) carried forward | 14 | €203,278 | €53,325 | -€149,953 | -73.8% |
| Amounts payable | 17/49 | €56,210 | €212,408 | +€156,198 | +277.9% |
| Amounts payable within one year | 42/48 | €56,042 | €212,215 | +€156,173 | +278.7% |
| Financial debts | 43 | - | €3,187 | +€3,187 | |
| Credit institutions | 430/8 | - | €3,187 | +€3,187 | |
| Trade debts | 44 | €741 | €2,181 | +€1,440 | +194.3% |
| Suppliers | 440/4 | €741 | €2,181 | +€1,440 | +194.3% |
| Taxes, remuneration and social security | 45 | €55,301 | €56,847 | +€1,546 | +2.8% |
| Taxes | 450/3 | €55,301 | €56,847 | +€1,546 | +2.8% |
| Other amounts payable | 47/48 | - | €150,000 | +€150,000 | |
| Accrued charges and deferred income | 492/3 | €168 | €193 | +€25 | +14.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,643 | €3,643 | = | 0.0% |
| Other operating charges | 640/8 | €564 | €690 | +€126 | +22.3% |
| Gross operating margin | 9900 | €95,888 | €77,600 | -€18,288 | -19.1% |
| Operating profit (loss) | 9901 | €91,681 | €73,267 | -€18,414 | -20.1% |
| Financial income | 75/76B | €4 | - | -€4 | |
| Recurring financial income | 75 | €4 | - | -€4 | |
| Financial charges | 65/66B | €1,882 | €1,807 | -€75 | -4.0% |
| Recurring financial charges | 65 | €1,882 | €1,807 | -€75 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | €89,803 | €71,460 | -€18,343 | -20.4% |
| Income taxes | 67/77 | €25,592 | €21,813 | -€3,779 | -14.8% |
| Profit (loss) for the period | 9904 | €64,211 | €49,647 | -€14,564 | -22.7% |
| Profit (loss) for the period to be appropriated | 9905 | €64,211 | €49,647 | -€14,564 | -22.7% |
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 30 September 2026 via checked.be.