FOVEA: 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.
FOVEA
Largest movements
- Stocks and contracts +€7,972
up €7,972 (+132.9%), from €6,000 to €13,972
- Receivables within one year -€2,900
no longer reported in 2025 (was €2,900)
- Cash -€2,563
down €2,563 (-56.6%), from €4,528 to €1,964
mainly Stocks and contracts (-€7,972) and Tax, wage and social debts (-€1,423)
- Tangible fixed assets -€1,354
down €1,354 (-22.7%), from €5,964 to €4,610
- Other debts +€1,532
up €1,532 (+13.1%), from €11,687 to €13,220
- Tax, wage and social debts -€1,423
down €1,423 (-43.8%), from €3,247 to €1,824
- Trade debts +€941
up €941 (+171.1%), from €550 to €1,491
- Gross operating margin +€1,803
up €1,803 (+120.7%), from €1,494 to €3,297
- Depreciation +€1,242
up €1,242 (+1109.0%), from €112 to €1,354
- Financial charges +€976
up €976 (+158.7%), from €615 to €1,592
- Other operating charges -€485
down €485 (-66.3%), from €732 to €247
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 | €19,392 | €20,547 | +€1,155 | +6.0% |
| Fixed assets | 21/28 | €5,964 | €4,610 | -€1,354 | -22.7% |
| Tangible fixed assets | 22/27 | €5,964 | €4,610 | -€1,354 | -22.7% |
| Plant, machinery and equipment | 23 | €5,964 | €4,610 | -€1,354 | -22.7% |
| Current assets | 29/58 | €13,428 | €15,937 | +€2,509 | +18.7% |
| Stocks and contracts in progress | 3 | €6,000 | €13,972 | +€7,972 | +132.9% |
| Contracts in progress | 37 | €6,000 | €13,972 | +€7,972 | +132.9% |
| Amounts receivable within one year | 40/41 | €2,900 | - | -€2,900 | |
| Trade receivables | 40 | €2,900 | - | -€2,900 | |
| Cash at bank and in hand | 54/58 | €4,528 | €1,964 | -€2,563 | -56.6% |
| Total equity and liabilities | 10/49 | €19,392 | €20,547 | +€1,155 | +6.0% |
| Equity | 10/15 | €3,907 | €4,012 | +€105 | +2.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Capital | 10 | €2,000 | €2,000 | = | 0.0% |
| Issued capital | 100 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,907 | €2,012 | +€105 | +5.5% |
| Amounts payable | 17/49 | €15,485 | €16,535 | +€1,050 | +6.8% |
| Amounts payable within one year | 42/48 | €15,485 | €16,535 | +€1,050 | +6.8% |
| Trade debts | 44 | €550 | €1,491 | +€941 | +171.1% |
| Suppliers | 440/4 | €550 | €1,491 | +€941 | +171.1% |
| Taxes, remuneration and social security | 45 | €3,247 | €1,824 | -€1,423 | -43.8% |
| Taxes | 450/3 | €3,247 | €1,824 | -€1,423 | -43.8% |
| Other amounts payable | 47/48 | €11,687 | €13,220 | +€1,532 | +13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €112 | €1,354 | +€1,242 | +1109.0% |
| Other operating charges | 640/8 | €732 | €247 | -€485 | -66.3% |
| Gross operating margin | 9900 | €1,494 | €3,297 | +€1,803 | +120.7% |
| Operating profit (loss) | 9901 | €650 | €1,696 | +€1,046 | +161.0% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €615 | €1,592 | +€976 | +158.7% |
| Recurring financial charges | 65 | €615 | €1,592 | +€976 | +158.7% |
| Profit (loss) for the period before taxes | 9903 | €35 | €105 | +€70 | +201.6% |
| Profit (loss) for the period | 9904 | €35 | €105 | +€70 | +201.6% |
| Profit (loss) for the period to be appropriated | 9905 | €35 | €105 | +€70 | +201.6% |
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 1 October 2026 via checked.be.