FORTVEGA: 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.
FORTVEGA
Largest movements
- Tangible fixed assets -€106,394
down €106,394 (-16.4%), from €648,617 to €542,223
of which Other tangible fixed assets: -€106,006
- Cash -€40,316
down €40,316 (-27.1%), from €148,771 to €108,455
mainly Debts after one year (-€141,026) and Trade debts (-€44,235)
- Debts after one year -€141,026
down €141,026 (-49.7%), from €283,682 to €142,656
- Trade debts -€44,235
down €44,235 (-30.2%), from €146,677 to €102,441
- Current portion of long-term debt +€13,291
up €13,291 (+9.5%), from €139,414 to €152,705
- Tax, wage and social debts +€10,674
up €10,674 (+11.9%), from €90,066 to €100,740
of which Remuneration and social security: +€9,115
- Staff costs +€71,999
up €71,999 (+9.5%), from €757,107 to €829,106
- Gross operating margin +€70,507
up €70,507 (+7.9%), from €897,281 to €967,788
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 | €1,050,953 | €882,391 | -€168,562 | -16.0% |
| Fixed assets | 21/28 | €652,568 | €543,599 | -€108,969 | -16.7% |
| Intangible fixed assets | 21 | €2,974 | €399 | -€2,575 | -86.6% |
| Tangible fixed assets | 22/27 | €648,617 | €542,223 | -€106,394 | -16.4% |
| Furniture and vehicles | 24 | €20,076 | €19,688 | -€388 | -1.9% |
| Other tangible fixed assets | 26 | €628,541 | €522,535 | -€106,006 | -16.9% |
| Financial fixed assets | 28 | €977 | €977 | = | 0.0% |
| Current assets | 29/58 | €398,385 | €338,792 | -€59,593 | -15.0% |
| Amounts receivable after more than one year | 29 | €155,000 | €155,000 | = | 0.0% |
| Other amounts receivable | 291 | €155,000 | €155,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €18,286 | €17,094 | -€1,192 | -6.5% |
| Stocks | 30/36 | €18,286 | €17,094 | -€1,192 | -6.5% |
| Amounts receivable within one year | 40/41 | €38,478 | €28,584 | -€9,894 | -25.7% |
| Trade receivables | 40 | €23,603 | €1,238 | -€22,365 | -94.8% |
| Other amounts receivable | 41 | €14,875 | €27,345 | +€12,470 | +83.8% |
| Cash at bank and in hand | 54/58 | €148,771 | €108,455 | -€40,316 | -27.1% |
| Deferred charges and accrued income | 490/1 | €37,850 | €29,660 | -€8,190 | -21.6% |
| Total equity and liabilities | 10/49 | €1,050,953 | €882,391 | -€168,562 | -16.0% |
| Equity | 10/15 | €367,473 | €375,219 | +€7,745 | +2.1% |
| Contributions | 10/11 | €325,000 | €325,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €42,473 | €50,219 | +€7,745 | +18.2% |
| Amounts payable | 17/49 | €683,480 | €507,172 | -€176,308 | -25.8% |
| Amounts payable after more than one year | 17 | €283,682 | €142,656 | -€141,026 | -49.7% |
| Financial debts | 170/4 | €283,682 | €142,656 | -€141,026 | -49.7% |
| Amounts payable within one year | 42/48 | €384,521 | €355,886 | -€28,635 | -7.4% |
| Current portion of amounts payable after more than one year | 42 | €139,414 | €152,705 | +€13,291 | +9.5% |
| Financial debts | 43 | €8,365 | - | -€8,365 | |
| Credit institutions | 430/8 | €8,365 | - | -€8,365 | |
| Trade debts | 44 | €146,677 | €102,441 | -€44,235 | -30.2% |
| Suppliers | 440/4 | €146,677 | €102,441 | -€44,235 | -30.2% |
| Taxes, remuneration and social security | 45 | €90,066 | €100,740 | +€10,674 | +11.9% |
| Taxes | 450/3 | €2,346 | €3,906 | +€1,559 | +66.5% |
| Remuneration and social security | 454/9 | €87,720 | €96,835 | +€9,115 | +10.4% |
| Accrued charges and deferred income | 492/3 | €15,276 | €8,629 | -€6,647 | -43.5% |
| Remuneration, social security and pensions | 62 | €757,107 | €829,106 | +€71,999 | +9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €118,260 | €116,720 | -€1,540 | -1.3% |
| Other operating charges | 640/8 | €2,791 | €2,638 | -€154 | -5.5% |
| Gross operating margin | 9900 | €897,281 | €967,788 | +€70,507 | +7.9% |
| Operating profit (loss) | 9901 | €19,123 | €19,325 | +€202 | +1.1% |
| Financial income | 75/76B | €515 | €282 | -€232 | -45.2% |
| Recurring financial income | 75 | €515 | €282 | -€232 | -45.2% |
| Financial charges | 65/66B | €9,961 | €7,373 | -€2,588 | -26.0% |
| Recurring financial charges | 65 | €9,961 | €7,373 | -€2,588 | -26.0% |
| Profit (loss) for the period before taxes | 9903 | €9,677 | €12,234 | +€2,558 | +26.4% |
| Income taxes | 67/77 | €3,837 | €4,489 | +€652 | +17.0% |
| Profit (loss) for the period | 9904 | €5,840 | €7,745 | +€1,905 | +32.6% |
| Profit (loss) for the period to be appropriated | 9905 | €5,840 | €7,745 | +€1,905 | +32.6% |
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 20 October 2026 via checked.be.