FODEVA: 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.
FODEVA
Largest movements
- Receivables within one year +€414,510
up €414,510 (+195.6%), from €211,898 to €626,408
of which Other amounts receivable: +€374,715
- Tangible fixed assets -€55,533
down €55,533 (-8.9%), from €623,553 to €568,019
of which Land and buildings: -€38,012
- Profit (loss) carried forward +€247,396
up €247,396 (+139.9%), from €176,790 to €424,185
- Trade debts +€78,860
up €78,860 (+193.7%), from €40,712 to €119,572
- Reserves +€59,460
up €59,460 (+37.1%), from €160,458 to €219,918
of which Tax-exempt reserves: +€59,460
- Current portion of long-term debt -€40,504
no longer reported in 2025 (was €40,504)
- Gross operating margin -€391,787
down €391,787 (-45.9%), from €852,883 to €461,096
- Depreciation -€32,294
down €32,294 (-35.1%), from €91,947 to €59,653
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,985,348 | €2,343,994 | +€358,646 | +18.1% |
| Fixed assets | 21/28 | €640,735 | €581,082 | -€59,653 | -9.3% |
| Intangible fixed assets | 21 | €17,033 | €12,913 | -€4,120 | -24.2% |
| Tangible fixed assets | 22/27 | €623,553 | €568,019 | -€55,533 | -8.9% |
| Land and buildings | 22 | €516,875 | €478,862 | -€38,012 | -7.4% |
| Plant, machinery and equipment | 23 | €106,223 | €88,979 | -€17,244 | -16.2% |
| Furniture and vehicles | 24 | €382 | €140 | -€243 | -63.5% |
| Other tangible fixed assets | 26 | €73 | €38 | -€35 | -47.5% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €1,344,613 | €1,762,912 | +€418,300 | +31.1% |
| Amounts receivable after more than one year | 29 | €500,000 | €500,000 | = | 0.0% |
| Other amounts receivable | 291 | €500,000 | €500,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €614,392 | €619,111 | +€4,718 | +0.8% |
| Stocks | 30/36 | €614,392 | €619,111 | +€4,718 | +0.8% |
| Amounts receivable within one year | 40/41 | €211,898 | €626,408 | +€414,510 | +195.6% |
| Trade receivables | 40 | - | €39,795 | +€39,795 | |
| Other amounts receivable | 41 | €211,898 | €586,613 | +€374,715 | +176.8% |
| Deferred charges and accrued income | 490/1 | €18,322 | €17,394 | -€929 | -5.1% |
| Total equity and liabilities | 10/49 | €1,985,348 | €2,343,994 | +€358,646 | +18.1% |
| Equity | 10/15 | €1,887,248 | €2,194,104 | +€306,856 | +16.3% |
| Contributions | 10/11 | €1,550,000 | €1,550,000 | = | 0.0% |
| Reserves | 13 | €160,458 | €219,918 | +€59,460 | +37.1% |
| Tax-exempt reserves | 132 | €53,358 | €112,818 | +€59,460 | +111.4% |
| Distributable reserves | 133 | €107,100 | €107,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €176,790 | €424,185 | +€247,396 | +139.9% |
| Provisions and deferred taxes | 16 | - | €19,820 | +€19,820 | |
| Deferred taxes | 168 | - | €19,820 | +€19,820 | |
| Amounts payable | 17/49 | €98,100 | €130,071 | +€31,971 | +32.6% |
| Amounts payable within one year | 42/48 | €97,694 | €130,071 | +€32,377 | +33.1% |
| Current portion of amounts payable after more than one year | 42 | €40,504 | - | -€40,504 | |
| Trade debts | 44 | €40,712 | €119,572 | +€78,860 | +193.7% |
| Suppliers | 440/4 | €40,712 | €119,572 | +€78,860 | +193.7% |
| Taxes, remuneration and social security | 45 | €16,478 | €10,499 | -€5,979 | -36.3% |
| Taxes | 450/3 | €5,090 | €2,544 | -€2,546 | -50.0% |
| Remuneration and social security | 454/9 | €11,388 | €7,955 | -€3,433 | -30.1% |
| Accrued charges and deferred income | 492/3 | €406 | - | -€406 | |
| Non-recurring operating income | 76A | €23,044 | - | -€23,044 | |
| Remuneration, social security and pensions | 62 | €61,201 | €59,730 | -€1,471 | -2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,947 | €59,653 | -€32,294 | -35.1% |
| Other operating charges | 640/8 | €23,407 | €23,903 | +€496 | +2.1% |
| Gross operating margin | 9900 | €852,883 | €461,096 | -€391,787 | -45.9% |
| Operating profit (loss) | 9901 | €676,328 | €317,810 | -€358,518 | -53.0% |
| Financial income | 75/76B | €12,959 | €9,833 | -€3,126 | -24.1% |
| Recurring financial income | 75 | €12,959 | €9,833 | -€3,126 | -24.1% |
| Financial charges | 65/66B | €4,659 | €968 | -€3,691 | -79.2% |
| Recurring financial charges | 65 | €4,659 | €968 | -€3,691 | -79.2% |
| Profit (loss) for the period before taxes | 9903 | €684,629 | €326,676 | -€357,953 | -52.3% |
| Transfer to deferred taxes | 680 | - | €19,820 | +€19,820 | |
| Profit (loss) for the period | 9904 | €684,629 | €306,856 | -€377,773 | -55.2% |
| Transfer to tax-exempt reserves | 689 | - | €59,460 | +€59,460 | |
| Profit (loss) for the period to be appropriated | 9905 | €684,629 | €247,396 | -€437,233 | -63.9% |
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.