FMVDS: 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.
FMVDS
Largest movements
- Receivables within one year +€76,571
up €76,571 (+48.9%), from €156,728 to €233,299
of which Trade receivables: +€79,254
- Stocks and contracts -€53,047
down €53,047 (-38.4%), from €137,982 to €84,935
- Tangible fixed assets +€28,401
up €28,401 (+144.3%), from €19,685 to €48,086
of which Furniture and vehicles: +€32,110
- Cash +€16,488
up €16,488 (+47.4%), from €34,804 to €51,293
mainly Stocks and contracts (+€53,047) and Debts after one year (+€23,156)
- Debts after one year +€23,156
up €23,156 (+1343.4%), from €1,724 to €24,880
- Reserves +€22,439
up €22,439 (+8.3%), from €271,733 to €294,172
- Trade debts +€11,944
up €11,944 (+193.4%), from €6,175 to €18,119
- Tax, wage and social debts +€4,292
up €4,292 (+1335.1%), from €322 to €4,614
of which Remuneration and social security: +€4,600
- Gross operating margin +€18,910
up €18,910 (+61.8%), from €30,581 to €49,491
- Depreciation +€7,472
up €7,472 (+79.5%), from €9,400 to €16,872
- Taxes +€960
up €960 (+13.4%), from €7,194 to €8,154
- Financial charges +€939
up €939 (+352.6%), from €266 to €1,205
- Other operating charges +€666
up €666 (+34.5%), from €1,928 to €2,594
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 | €350,120 | €417,975 | +€67,854 | +19.4% |
| Fixed assets | 21/28 | €19,685 | €48,086 | +€28,401 | +144.3% |
| Tangible fixed assets | 22/27 | €19,685 | €48,086 | +€28,401 | +144.3% |
| Plant, machinery and equipment | 23 | €11,058 | €7,349 | -€3,709 | -33.5% |
| Furniture and vehicles | 24 | €8,626 | €40,737 | +€32,110 | +372.2% |
| Current assets | 29/58 | €330,436 | €369,889 | +€39,453 | +11.9% |
| Stocks and contracts in progress | 3 | €137,982 | €84,935 | -€53,047 | -38.4% |
| Stocks | 30/36 | €137,982 | €84,935 | -€53,047 | -38.4% |
| Amounts receivable within one year | 40/41 | €156,728 | €233,299 | +€76,571 | +48.9% |
| Trade receivables | 40 | €135,625 | €214,880 | +€79,254 | +58.4% |
| Other amounts receivable | 41 | €21,103 | €18,420 | -€2,683 | -12.7% |
| Cash at bank and in hand | 54/58 | €34,804 | €51,293 | +€16,488 | +47.4% |
| Deferred charges and accrued income | 490/1 | €922 | €362 | -€560 | -60.7% |
| Total equity and liabilities | 10/49 | €350,120 | €417,975 | +€67,854 | +19.4% |
| Equity | 10/15 | €284,384 | €306,823 | +€22,439 | +7.9% |
| Contributions | 10/11 | €12,651 | €12,651 | = | 0.0% |
| Reserves | 13 | €271,733 | €294,172 | +€22,439 | +8.3% |
| Distributable reserves | 133 | €271,733 | €294,172 | +€22,439 | +8.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €65,737 | €111,152 | +€45,415 | +69.1% |
| Amounts payable after more than one year | 17 | €1,724 | €24,880 | +€23,156 | +1343.4% |
| Financial debts | 170/4 | €1,724 | €24,880 | +€23,156 | +1343.4% |
| Amounts payable within one year | 42/48 | €64,013 | €86,241 | +€22,228 | +34.7% |
| Current portion of amounts payable after more than one year | 42 | €5,127 | €8,676 | +€3,549 | +69.2% |
| Trade debts | 44 | €6,175 | €18,119 | +€11,944 | +193.4% |
| Suppliers | 440/4 | €6,175 | €18,119 | +€11,944 | +193.4% |
| Taxes, remuneration and social security | 45 | €322 | €4,614 | +€4,292 | +1335.1% |
| Taxes | 450/3 | €322 | €14 | -€308 | -95.7% |
| Remuneration and social security | 454/9 | - | €4,600 | +€4,600 | |
| Other amounts payable | 47/48 | €52,390 | €54,832 | +€2,442 | +4.7% |
| Accrued charges and deferred income | 492/3 | - | €31 | +€31 | |
| Non-recurring operating income | 76A | - | €3,306 | +€3,306 | |
| Remuneration, social security and pensions | 62 | - | €57 | +€57 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,400 | €16,872 | +€7,472 | +79.5% |
| Other operating charges | 640/8 | €1,928 | €2,594 | +€666 | +34.5% |
| Gross operating margin | 9900 | €30,581 | €49,491 | +€18,910 | +61.8% |
| Operating profit (loss) | 9901 | €19,253 | €29,967 | +€10,714 | +55.7% |
| Financial income | 75/76B | €1,683 | €1,832 | +€149 | +8.9% |
| Recurring financial income | 75 | €1,683 | €1,832 | +€149 | +8.9% |
| Financial charges | 65/66B | €266 | €1,205 | +€939 | +352.6% |
| Recurring financial charges | 65 | €266 | €1,205 | +€939 | +352.6% |
| Profit (loss) for the period before taxes | 9903 | €20,669 | €30,594 | +€9,924 | +48.0% |
| Income taxes | 67/77 | €7,194 | €8,154 | +€960 | +13.4% |
| Profit (loss) for the period | 9904 | €13,476 | €22,439 | +€8,964 | +66.5% |
| Profit (loss) for the period to be appropriated | 9905 | €13,476 | €22,439 | +€8,964 | +66.5% |
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 7 October 2026 via checked.be.