FOVAN: 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.
FOVAN
Largest movements
- Cash +€73,271
up €73,271 (+1166.6%), from €6,280 to €79,551
mainly Net result for the year (+€70,130) and Current investments (+€60,000)
- Current investments -€60,000
down €60,000 (-36.2%), from €165,555 to €105,555
- Tangible fixed assets -€42,753
down €42,753 (-12.8%), from €334,479 to €291,725
of which Furniture and vehicles: -€33,453
- Receivables after one year -€13,452
down €13,452 (-25.9%), from €51,976 to €38,524
- Debts after one year -€37,707
down €37,707 (-71.5%), from €52,774 to €15,067
- Trade debts -€16,019
down €16,019 (-88.8%), from €18,049 to €2,029
- Tax, wage and social debts +€14,223
new in 2025: €14,223
- Reserves -€11,855
down €11,855 (-2.6%), from €451,368 to €439,513
of which Distributable reserves: -€11,855
- Gross operating margin -€32,908
down €32,908 (-18.7%), from €176,303 to €143,395
- Taxes -€8,291
down €8,291 (-22.1%), from €37,514 to €29,223
- Staff costs -€4,414
no longer reported in 2025 (was €4,414)
- Financial income +€3,553
up €3,553 (+665.1%), from €534 to €4,087
- Financial charges +€2,456
up €2,456 (+293.2%), from €838 to €3,293
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 | €567,604 | €519,492 | -€48,113 | -8.5% |
| Fixed assets | 21/28 | €334,479 | €291,725 | -€42,753 | -12.8% |
| Tangible fixed assets | 22/27 | €334,479 | €291,725 | -€42,753 | -12.8% |
| Land and buildings | 22 | €215,704 | €208,290 | -€7,414 | -3.4% |
| Plant, machinery and equipment | 23 | €14,949 | €13,063 | -€1,886 | -12.6% |
| Furniture and vehicles | 24 | €103,826 | €70,372 | -€33,453 | -32.2% |
| Current assets | 29/58 | €233,126 | €227,767 | -€5,359 | -2.3% |
| Amounts receivable after more than one year | 29 | €51,976 | €38,524 | -€13,452 | -25.9% |
| Other amounts receivable | 291 | €51,976 | €38,524 | -€13,452 | -25.9% |
| Amounts receivable within one year | 40/41 | €9,314 | €4,136 | -€5,178 | -55.6% |
| Trade receivables | 40 | €5,178 | - | -€5,178 | |
| Other amounts receivable | 41 | €4,136 | €4,136 | = | 0.0% |
| Current investments | 50/53 | €165,555 | €105,555 | -€60,000 | -36.2% |
| Cash at bank and in hand | 54/58 | €6,280 | €79,551 | +€73,271 | +1166.6% |
| Total equity and liabilities | 10/49 | €567,604 | €519,492 | -€48,113 | -8.5% |
| Equity | 10/15 | €469,968 | €458,063 | -€11,905 | -2.5% |
| Contributions | 10/11 | €18,600 | €18,550 | -€50 | -0.3% |
| Reserves | 13 | €451,368 | €439,513 | -€11,855 | -2.6% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €449,509 | €437,654 | -€11,855 | -2.6% |
| Amounts payable | 17/49 | €97,637 | €61,429 | -€36,208 | -37.1% |
| Amounts payable after more than one year | 17 | €52,774 | €15,067 | -€37,707 | -71.5% |
| Financial debts | 170/4 | €52,774 | €15,067 | -€37,707 | -71.5% |
| Amounts payable within one year | 42/48 | €44,863 | €46,362 | +€1,500 | +3.3% |
| Current portion of amounts payable after more than one year | 42 | €26,814 | €29,110 | +€2,296 | +8.6% |
| Trade debts | 44 | €18,049 | €2,029 | -€16,019 | -88.8% |
| Suppliers | 440/4 | €18,049 | €2,029 | -€16,019 | -88.8% |
| Taxes, remuneration and social security | 45 | - | €14,223 | +€14,223 | |
| Taxes | 450/3 | - | €14,223 | +€14,223 | |
| Other amounts payable | 47/48 | - | €1,000 | +€1,000 | |
| Remuneration, social security and pensions | 62 | €4,414 | - | -€4,414 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,376 | €43,173 | +€1,797 | +4.3% |
| Other operating charges | 640/8 | €1,229 | €1,662 | +€433 | +35.2% |
| Gross operating margin | 9900 | €176,303 | €143,395 | -€32,908 | -18.7% |
| Operating profit (loss) | 9901 | €129,285 | €98,559 | -€30,725 | -23.8% |
| Financial income | 75/76B | €534 | €4,087 | +€3,553 | +665.1% |
| Recurring financial income | 75 | €534 | €4,087 | +€3,553 | +665.1% |
| Financial charges | 65/66B | €838 | €3,293 | +€2,456 | +293.2% |
| Recurring financial charges | 65 | €838 | €3,293 | +€2,456 | +293.2% |
| Profit (loss) for the period before taxes | 9903 | €128,981 | €99,353 | -€29,628 | -23.0% |
| Income taxes | 67/77 | €37,514 | €29,223 | -€8,291 | -22.1% |
| Profit (loss) for the period | 9904 | €91,468 | €70,130 | -€21,337 | -23.3% |
| Profit (loss) for the period to be appropriated | 9905 | €91,468 | €70,130 | -€21,337 | -23.3% |
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 9 October 2026 via checked.be.