FV-Law: 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.
FV-Law
Largest movements
- Receivables within one year +€4,971
up €4,971 (+18.3%), from €27,123 to €32,094
of which Trade receivables: +€4,840
- Tangible fixed assets -€2,494
down €2,494 (-27.6%), from €9,023 to €6,529
- Cash -€717
down €717 (-7.2%), from €9,984 to €9,268
mainly Receivables within one year (-€4,971) and Trade debts (-€4,062)
- Trade debts -€4,062
down €4,062 (-31.9%), from €12,714 to €8,652
- Other debts +€4,049
up €4,049 (+30.0%), from €13,506 to €17,555
- Tax, wage and social debts +€2,382
up €2,382 (+53.3%), from €4,466 to €6,848
- Reserves -€538
down €538 (-3.9%), from €13,699 to €13,161
- Gross operating margin -€786
down €786 (-15.2%), from €5,186 to €4,400
- Depreciation +€677
up €677 (+37.3%), from €1,817 to €2,494
- Other operating charges -€216
down €216 (-23.6%), from €915 to €699
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 | €47,385 | €49,216 | +€1,831 | +3.9% |
| Fixed assets | 21/28 | €9,023 | €6,529 | -€2,494 | -27.6% |
| Tangible fixed assets | 22/27 | €9,023 | €6,529 | -€2,494 | -27.6% |
| Land and buildings | 22 | €3,546 | €3,188 | -€358 | -10.1% |
| Plant, machinery and equipment | 23 | €4,298 | €3,185 | -€1,112 | -25.9% |
| Furniture and vehicles | 24 | €1,179 | €155 | -€1,024 | -86.9% |
| Current assets | 29/58 | €38,362 | €42,687 | +€4,325 | +11.3% |
| Amounts receivable within one year | 40/41 | €27,123 | €32,094 | +€4,971 | +18.3% |
| Trade receivables | 40 | €26,620 | €31,460 | +€4,840 | +18.2% |
| Other amounts receivable | 41 | €503 | €634 | +€131 | +26.2% |
| Cash at bank and in hand | 54/58 | €9,984 | €9,268 | -€717 | -7.2% |
| Deferred charges and accrued income | 490/1 | €1,255 | €1,325 | +€70 | +5.6% |
| Total equity and liabilities | 10/49 | €47,385 | €49,216 | +€1,831 | +3.9% |
| Equity | 10/15 | €16,699 | €16,161 | -€538 | -3.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €13,699 | €13,161 | -€538 | -3.9% |
| Distributable reserves | 133 | €13,699 | €13,161 | -€538 | -3.9% |
| Amounts payable | 17/49 | €30,686 | €33,055 | +€2,370 | +7.7% |
| Amounts payable within one year | 42/48 | €30,686 | €33,055 | +€2,370 | +7.7% |
| Trade debts | 44 | €12,714 | €8,652 | -€4,062 | -31.9% |
| Suppliers | 440/4 | €12,714 | €8,652 | -€4,062 | -31.9% |
| Taxes, remuneration and social security | 45 | €4,466 | €6,848 | +€2,382 | +53.3% |
| Taxes | 450/3 | €4,466 | €6,848 | +€2,382 | +53.3% |
| Other amounts payable | 47/48 | €13,506 | €17,555 | +€4,049 | +30.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,817 | €2,494 | +€677 | +37.3% |
| Other operating charges | 640/8 | €915 | €699 | -€216 | -23.6% |
| Gross operating margin | 9900 | €5,186 | €4,400 | -€786 | -15.2% |
| Operating profit (loss) | 9901 | €2,455 | €1,207 | -€1,248 | -50.8% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €83 | €85 | +€2 | +2.1% |
| Recurring financial charges | 65 | €83 | €85 | +€2 | +2.1% |
| Profit (loss) for the period before taxes | 9903 | €2,372 | €1,123 | -€1,249 | -52.7% |
| Income taxes | 67/77 | €1,705 | €1,661 | -€44 | -2.6% |
| Profit (loss) for the period | 9904 | €667 | -€538 | -€1,206 | |
| Profit (loss) for the period to be appropriated | 9905 | €667 | -€538 | -€1,206 |
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 8 October 2026 via checked.be.