FV WORKS: 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.
FV WORKS
Largest movements
- Receivables after one year +€38,100
new in 2025: €38,100
- Receivables within one year -€35,663
down €35,663 (-40.5%), from €88,058 to €52,395
of which Other amounts receivable: -€35,419
- Intangible fixed assets -€7,405
down €7,405 (-100%), from €7,405 to €0
- Tangible fixed assets +€4,440
up €4,440 (+304%), from €1,462 to €5,902
of which Furniture and vehicles: +€3,071
- Cash +€1,898
up €1,898 (+59.0%), from €3,215 to €5,113
mainly Receivables within one year (+€35,663) and Net result for the year (+€19,686)
- Reserves +€19,686
up €19,686 (+50.8%), from €38,780 to €58,466
- Short-term financial debts +€17,936
up €17,936 (+869%), from €2,064 to €20,000
- Accrued charges and deferred income -€16,000
down €16,000 (-100%), from €16,000 to €0
- Trade debts -€11,699
down €11,699 (-58.7%), from €19,917 to €8,217
- Tax, wage and social debts -€6,442
down €6,442 (-40.5%), from €15,892 to €9,450
of which Remuneration and social security: -€5,121
- Gross operating margin +€43,896
up €43,896 (+60.0%), from €73,127 to €117,023
- Other operating charges +€31,929
up €31,929 (+743%), from €4,296 to €36,225
- Taxes +€14,703
up €14,703 (+323%), from €4,550 to €19,253
- Staff costs -€8,127
down €8,127 (-21.9%), from €37,181 to €29,054
- Depreciation -€2,533
down €2,533 (-63.7%), from €3,978 to €1,445
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.
Derived cash bridge
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 | €101,268 | €105,542 | +€4,274 | +4.2% |
| Fixed assets | 21/28 | €9,725 | €8,360 | -€1,366 | -14.0% |
| Intangible fixed assets | 21 | €7,405 | €0 | -€7,405 | -100% |
| Tangible fixed assets | 22/27 | €1,462 | €5,902 | +€4,440 | +304% |
| Plant, machinery and equipment | 23 | €1,462 | €209 | -€1,253 | -85.7% |
| Furniture and vehicles | 24 | - | €3,071 | +€3,071 | |
| Other tangible fixed assets | 26 | - | €2,622 | +€2,622 | |
| Financial fixed assets | 28 | €858 | €2,458 | +€1,600 | +186% |
| Current assets | 29/58 | €91,543 | €97,182 | +€5,639 | +6.2% |
| Amounts receivable after more than one year | 29 | - | €38,100 | +€38,100 | |
| Other amounts receivable | 291 | - | €38,100 | +€38,100 | |
| Amounts receivable within one year | 40/41 | €88,058 | €52,395 | -€35,663 | -40.5% |
| Trade receivables | 40 | €17,244 | €17,000 | -€244 | -1.4% |
| Other amounts receivable | 41 | €70,814 | €35,395 | -€35,419 | -50.0% |
| Cash at bank and in hand | 54/58 | €3,215 | €5,113 | +€1,898 | +59.0% |
| Deferred charges and accrued income | 490/1 | €270 | €1,575 | +€1,305 | +484% |
| Total equity and liabilities | 10/49 | €101,268 | €105,542 | +€4,274 | +4.2% |
| Equity | 10/15 | €43,780 | €63,466 | +€19,686 | +45.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €38,780 | €58,466 | +€19,686 | +50.8% |
| Distributable reserves | 133 | €38,780 | €58,466 | +€19,686 | +50.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €57,488 | €42,076 | -€15,412 | -26.8% |
| Amounts payable within one year | 42/48 | €41,488 | €42,076 | +€588 | +1.4% |
| Financial debts | 43 | €2,064 | €20,000 | +€17,936 | +869% |
| Credit institutions | 430/8 | €2,064 | €20,000 | +€17,936 | +869% |
| Trade debts | 44 | €19,917 | €8,217 | -€11,699 | -58.7% |
| Suppliers | 440/4 | €19,917 | €8,217 | -€11,699 | -58.7% |
| Taxes, remuneration and social security | 45 | €15,892 | €9,450 | -€6,442 | -40.5% |
| Taxes | 450/3 | €10,771 | €9,450 | -€1,321 | -12.3% |
| Remuneration and social security | 454/9 | €5,121 | €0 | -€5,121 | -100% |
| Other amounts payable | 47/48 | €3,616 | €4,409 | +€793 | +21.9% |
| Accrued charges and deferred income | 492/3 | €16,000 | €0 | -€16,000 | -100% |
| Non-recurring operating income | 76A | - | €9,953 | +€9,953 | |
| Remuneration, social security and pensions | 62 | €37,181 | €29,054 | -€8,127 | -21.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,978 | €1,445 | -€2,533 | -63.7% |
| Other operating charges | 640/8 | €4,296 | €36,225 | +€31,929 | +743% |
| Non-recurring operating charges | 66A | - | €7,405 | +€7,405 | |
| Gross operating margin | 9900 | €73,127 | €117,023 | +€43,896 | +60.0% |
| Operating profit (loss) | 9901 | €27,672 | €42,894 | +€15,223 | +55.0% |
| Financial income | 75/76B | €75 | €31 | -€44 | -58.2% |
| Recurring financial income | 75 | €75 | €31 | -€44 | -58.2% |
| Financial charges | 65/66B | €1,849 | €3,987 | +€2,138 | +116% |
| Recurring financial charges | 65 | €1,849 | €3,987 | +€2,138 | +116% |
| Profit (loss) for the period before taxes | 9903 | €25,898 | €38,939 | +€13,041 | +50.4% |
| Income taxes | 67/77 | €4,550 | €19,253 | +€14,703 | +323% |
| Profit (loss) for the period | 9904 | €21,348 | €19,686 | -€1,662 | -7.8% |
| Profit (loss) for the period to be appropriated | 9905 | €21,348 | €19,686 | -€1,662 | -7.8% |
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 18 October 2026 via checked.be.