FNV: 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.
FNV
Largest movements
- Cash +€75,622
up €75,622 (+111%), from €68,273 to €143,895
mainly Net result for the year (+€46,865) and Depreciation (+€30,765)
- Tangible fixed assets -€30,765
down €30,765 (-8.2%), from €376,795 to €346,030
of which Furniture and vehicles: -€22,735
- Profit (loss) carried forward +€32,268
no longer reported in 2025 (was -€32,268)
- Reserves +€12,879
up €12,879 (+4.2%), from €308,312 to €321,191
- Debts after one year -€10,816
down €10,816 (-3.9%), from €276,193 to €265,377
- Depreciation -€64,194
down €64,194 (-67.6%), from €94,959 to €30,765
- Gross operating margin +€23,118
up €23,118 (+30.1%), from €76,712 to €99,830
- Taxes +€6,614
up €6,614 (+2,214%), from €299 to €6,913
- Financial income +€1,473
up €1,473 (+189%), from €780 to €2,254
- Financial charges +€1,413
up €1,413 (+9.1%), from €15,600 to €17,013
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 | €838,011 | €881,183 | +€43,172 | +5.2% |
| Fixed assets | 21/28 | €376,805 | €346,040 | -€30,765 | -8.2% |
| Tangible fixed assets | 22/27 | €376,795 | €346,030 | -€30,765 | -8.2% |
| Land and buildings | 22 | €323,210 | €315,180 | -€8,030 | -2.5% |
| Furniture and vehicles | 24 | €53,585 | €30,850 | -€22,735 | -42.4% |
| Financial fixed assets | 28 | €10 | €10 | = | 0.0% |
| Current assets | 29/58 | €461,206 | €535,143 | +€73,937 | +16.0% |
| Amounts receivable within one year | 40/41 | €30,191 | €26,197 | -€3,994 | -13.2% |
| Trade receivables | 40 | €30,191 | €17,431 | -€12,760 | -42.3% |
| Other amounts receivable | 41 | - | €8,766 | +€8,766 | |
| Current investments | 50/53 | €362,741 | €364,313 | +€1,572 | +0.4% |
| Cash at bank and in hand | 54/58 | €68,273 | €143,895 | +€75,622 | +111% |
| Deferred charges and accrued income | 490/1 | - | €737 | +€737 | |
| Total equity and liabilities | 10/49 | €838,011 | €881,183 | +€43,172 | +5.2% |
| Equity | 10/15 | €369,444 | €414,591 | +€45,147 | +12.2% |
| Contributions | 10/11 | €93,400 | €93,400 | = | 0.0% |
| Reserves | 13 | €308,312 | €321,191 | +€12,879 | +4.2% |
| Distributable reserves | 133 | €308,312 | €321,191 | +€12,879 | +4.2% |
| Profit (loss) carried forward | 14 | -€32,268 | - | +€32,268 | |
| Provisions and deferred taxes | 16 | €38,346 | €38,346 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €38,346 | €38,346 | = | 0.0% |
| Pensions and similar obligations | 160 | €38,346 | €38,346 | = | 0.0% |
| Amounts payable | 17/49 | €430,220 | €428,245 | -€1,975 | -0.5% |
| Amounts payable after more than one year | 17 | €276,193 | €265,377 | -€10,816 | -3.9% |
| Financial debts | 170/4 | €276,193 | €265,377 | -€10,816 | -3.9% |
| Amounts payable within one year | 42/48 | €146,745 | €150,293 | +€3,548 | +2.4% |
| Current portion of amounts payable after more than one year | 42 | €10,418 | €10,816 | +€397 | +3.8% |
| Trade debts | 44 | €663 | €2,871 | +€2,208 | +333% |
| Suppliers | 440/4 | €663 | €2,871 | +€2,208 | +333% |
| Taxes, remuneration and social security | 45 | €10,770 | €8,472 | -€2,298 | -21.3% |
| Taxes | 450/3 | €10,770 | €8,472 | -€2,298 | -21.3% |
| Other amounts payable | 47/48 | €124,894 | €128,135 | +€3,242 | +2.6% |
| Accrued charges and deferred income | 492/3 | €7,282 | €12,575 | +€5,293 | +72.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94,959 | €30,765 | -€64,194 | -67.6% |
| Other operating charges | 640/8 | €626 | €528 | -€98 | -15.6% |
| Gross operating margin | 9900 | €76,712 | €99,830 | +€23,118 | +30.1% |
| Operating profit (loss) | 9901 | -€18,873 | €68,537 | +€87,411 | |
| Financial income | 75/76B | €780 | €2,254 | +€1,473 | +189% |
| Recurring financial income | 75 | €780 | €2,254 | +€1,473 | +189% |
| Financial charges | 65/66B | €15,600 | €17,013 | +€1,413 | +9.1% |
| Recurring financial charges | 65 | €15,600 | €17,013 | +€1,413 | +9.1% |
| Profit (loss) for the period before taxes | 9903 | -€33,693 | €53,778 | +€87,471 | |
| Income taxes | 67/77 | €299 | €6,913 | +€6,614 | +2,214% |
| Profit (loss) for the period | 9904 | -€33,992 | €46,865 | +€80,857 | |
| Profit (loss) for the period to be appropriated | 9905 | -€33,992 | €46,865 | +€80,857 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.