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
- Receivables within one year -€24,251
down €24,251 (-51.9%), from €46,750 to €22,499
- Tangible fixed assets -€19,006
down €19,006 (-7.2%), from €262,941 to €243,935
of which Land and buildings: -€11,840
- Debts after one year -€40,282
down €40,282 (-22.6%), from €178,507 to €138,225
of which Financial debts: -€39,083
- Reserves -€4,128
down €4,128 (-5.0%), from €81,804 to €77,676
- Gross operating margin -€15,371
down €15,371 (-36.9%), from €41,603 to €26,232
- Taxes -€3,288
down €3,288 (-94.9%), from €3,464 to €176
- Other operating charges -€649
down €649 (-21.3%), from €3,052 to €2,404
- Financial charges -€468
down €468 (-6.0%), from €7,768 to €7,301
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 | €311,067 | €267,697 | -€43,369 | -13.9% |
| Fixed assets | 21/28 | €262,941 | €243,935 | -€19,006 | -7.2% |
| Tangible fixed assets | 22/27 | €262,941 | €243,935 | -€19,006 | -7.2% |
| Land and buildings | 22 | €230,166 | €218,326 | -€11,840 | -5.1% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | €1,391 | +€1,391 | |
| Leasing and similar rights | 25 | €32,775 | €24,218 | -€8,557 | -26.1% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €48,126 | €23,762 | -€24,364 | -50.6% |
| Amounts receivable within one year | 40/41 | €46,750 | €22,499 | -€24,251 | -51.9% |
| Trade receivables | 40 | €46,750 | €22,499 | -€24,251 | -51.9% |
| Cash at bank and in hand | 54/58 | - | €1,263 | +€1,263 | |
| Deferred charges and accrued income | 490/1 | €1,376 | €0 | -€1,376 | -100.0% |
| Total equity and liabilities | 10/49 | €311,067 | €267,697 | -€43,369 | -13.9% |
| Equity | 10/15 | €88,004 | €83,876 | -€4,128 | -4.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €81,804 | €77,676 | -€4,128 | -5.0% |
| Distributable reserves | 133 | €81,804 | €77,676 | -€4,128 | -5.0% |
| Amounts payable | 17/49 | €223,063 | €183,822 | -€39,241 | -17.6% |
| Amounts payable after more than one year | 17 | €178,507 | €138,225 | -€40,282 | -22.6% |
| Financial debts | 170/4 | €87,835 | €48,752 | -€39,083 | -44.5% |
| Other amounts payable | 178/9 | €90,672 | €89,474 | -€1,198 | -1.3% |
| Amounts payable within one year | 42/48 | €44,556 | €45,393 | +€837 | +1.9% |
| Current portion of amounts payable after more than one year | 42 | €38,258 | €39,083 | +€825 | +2.2% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €888 | €1,654 | +€767 | +86.4% |
| Suppliers | 440/4 | €888 | €1,654 | +€767 | +86.4% |
| Taxes, remuneration and social security | 45 | €5,410 | €4,655 | -€755 | -14.0% |
| Taxes | 450/3 | €5,410 | €4,655 | -€755 | -14.0% |
| Accrued charges and deferred income | 492/3 | €0 | €204 | +€204 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,397 | €20,480 | +€83 | +0.4% |
| Other operating charges | 640/8 | €3,052 | €2,404 | -€649 | -21.3% |
| Non-recurring operating charges | 66A | €3,719 | €0 | -€3,719 | -100.0% |
| Gross operating margin | 9900 | €41,603 | €26,232 | -€15,371 | -36.9% |
| Operating profit (loss) | 9901 | €14,435 | €3,348 | -€11,087 | -76.8% |
| Financial charges | 65/66B | €7,768 | €7,301 | -€468 | -6.0% |
| Recurring financial charges | 65 | €7,768 | €7,301 | -€468 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | €6,667 | -€3,952 | -€10,619 | |
| Income taxes | 67/77 | €3,464 | €176 | -€3,288 | -94.9% |
| Profit (loss) for the period | 9904 | €3,203 | -€4,128 | -€7,331 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,203 | -€4,128 | -€7,331 |
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 7 October 2026 via checked.be.