FV PROJECTS: 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 PROJECTS
Largest movements
- Cash +€13,243
up €13,243 (+55.4%), from €23,914 to €37,157
mainly Net result for the year (+€25,562) and Other debts (+€23,896)
- Tangible fixed assets -€3,678
down €3,678 (-9.0%), from €40,951 to €37,273
of which Furniture and vehicles: -€4,983
- Other debts +€23,896
up €23,896 (+1434.3%), from €1,666 to €25,562
- Reserves -€12,408
down €12,408 (-28.5%), from €43,500 to €31,092
- Debts after one year -€6,824
down €6,824 (-39.1%), from €17,465 to €10,641
- Tax, wage and social debts +€5,394
up €5,394 (+47.0%), from €11,488 to €16,882
of which Taxes: +€5,460
- Trade debts -€1,090
down €1,090 (-55.9%), from €1,948 to €859
- Gross operating margin +€15,156
up €15,156 (+52.7%), from €28,771 to €43,927
- Taxes +€4,043
up €4,043 (+97.1%), from €4,162 to €8,205
- Other operating charges +€1,963
up €1,963 (+355.4%), from €552 to €2,516
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 | €84,683 | €93,859 | +€9,176 | +10.8% |
| Formation expenses | 20 | €682 | €435 | -€247 | -36.2% |
| Fixed assets | 21/28 | €41,151 | €37,273 | -€3,878 | -9.4% |
| Tangible fixed assets | 22/27 | €40,951 | €37,273 | -€3,678 | -9.0% |
| Plant, machinery and equipment | 23 | - | €1,305 | +€1,305 | |
| Furniture and vehicles | 24 | €40,951 | €35,968 | -€4,983 | -12.2% |
| Financial fixed assets | 28 | €200 | - | -€200 | |
| Current assets | 29/58 | €42,850 | €56,150 | +€13,301 | +31.0% |
| Amounts receivable within one year | 40/41 | €18,936 | €18,994 | +€58 | +0.3% |
| Trade receivables | 40 | €14,536 | €15,951 | +€1,415 | +9.7% |
| Other amounts receivable | 41 | €4,400 | €3,043 | -€1,357 | -30.8% |
| Cash at bank and in hand | 54/58 | €23,914 | €37,157 | +€13,243 | +55.4% |
| Total equity and liabilities | 10/49 | €84,683 | €93,859 | +€9,176 | +10.8% |
| Equity | 10/15 | €45,500 | €33,092 | -€12,408 | -27.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €43,500 | €31,092 | -€12,408 | -28.5% |
| Distributable reserves | 133 | €43,500 | €31,092 | -€12,408 | -28.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €39,183 | €60,767 | +€21,584 | +55.1% |
| Amounts payable after more than one year | 17 | €17,465 | €10,641 | -€6,824 | -39.1% |
| Financial debts | 170/4 | €17,465 | €10,641 | -€6,824 | -39.1% |
| Amounts payable within one year | 42/48 | €21,718 | €50,126 | +€28,408 | +130.8% |
| Current portion of amounts payable after more than one year | 42 | €6,616 | €6,824 | +€208 | +3.1% |
| Trade debts | 44 | €1,948 | €859 | -€1,090 | -55.9% |
| Suppliers | 440/4 | €1,948 | €859 | -€1,090 | -55.9% |
| Taxes, remuneration and social security | 45 | €11,488 | €16,882 | +€5,394 | +47.0% |
| Taxes | 450/3 | €11,422 | €16,882 | +€5,460 | +47.8% |
| Remuneration and social security | 454/9 | €66 | €0 | -€66 | -100.0% |
| Other amounts payable | 47/48 | €1,666 | €25,562 | +€23,896 | +1434.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,357 | €6,770 | +€414 | +6.5% |
| Other operating charges | 640/8 | €552 | €2,516 | +€1,963 | +355.4% |
| Non-recurring operating charges | 66A | €2,661 | €0 | -€2,661 | -100.0% |
| Gross operating margin | 9900 | €28,771 | €43,927 | +€15,156 | +52.7% |
| Operating profit (loss) | 9901 | €19,201 | €34,641 | +€15,440 | +80.4% |
| Financial income | 75/76B | €135 | €0 | -€135 | -100.0% |
| Recurring financial income | 75 | €135 | €0 | -€135 | -100.0% |
| Financial charges | 65/66B | €1,100 | €874 | -€226 | -20.6% |
| Recurring financial charges | 65 | €1,100 | €874 | -€226 | -20.6% |
| Profit (loss) for the period before taxes | 9903 | €18,235 | €33,767 | +€15,531 | +85.2% |
| Income taxes | 67/77 | €4,162 | €8,205 | +€4,043 | +97.1% |
| Profit (loss) for the period | 9904 | €14,074 | €25,562 | +€11,488 | +81.6% |
| Profit (loss) for the period to be appropriated | 9905 | €14,074 | €25,562 | +€11,488 | +81.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.