FVA MANAGEMENT: 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.
FVA MANAGEMENT
Largest movements
- Tangible fixed assets -€4,083
down €4,083 (-65.4%), from €6,243 to €2,160
of which Other tangible fixed assets: -€3,269
- Receivables within one year -€3,033
down €3,033 (-25.2%), from €12,037 to €9,004
of which Trade receivables: -€5,667
- Tax, wage and social debts -€5,054
down €5,054 (-37.2%), from €13,598 to €8,544
- Trade debts -€3,528
down €3,528 (-28.7%), from €12,273 to €8,745
- Profit (loss) carried forward +€2,088
up €2,088 (+15.1%), from -€13,828 to -€11,740
- Accrued charges and deferred income -€342
down €342 (-31.3%), from €1,094 to €752
- Gross operating margin -€7,226
down €7,226 (-44.5%), from €16,250 to €9,024
- Taxes -€1,817
down €1,817 (-40.8%), from €4,449 to €2,633
- Depreciation -€1,444
down €1,444 (-42.0%), from €3,436 to €1,991
- Financial charges -€1,226
down €1,226 (-41.8%), from €2,930 to €1,704
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 | €25,722 | €18,886 | -€6,837 | -26.6% |
| Fixed assets | 21/28 | €6,243 | €2,160 | -€4,083 | -65.4% |
| Tangible fixed assets | 22/27 | €6,243 | €2,160 | -€4,083 | -65.4% |
| Plant, machinery and equipment | 23 | €740 | €1,156 | +€416 | +56.1% |
| Furniture and vehicles | 24 | €2,234 | €1,004 | -€1,230 | -55.0% |
| Other tangible fixed assets | 26 | €3,269 | €0 | -€3,269 | -100.0% |
| Current assets | 29/58 | €19,479 | €16,726 | -€2,753 | -14.1% |
| Amounts receivable within one year | 40/41 | €12,037 | €9,004 | -€3,033 | -25.2% |
| Trade receivables | 40 | €10,513 | €4,846 | -€5,667 | -53.9% |
| Other amounts receivable | 41 | €1,524 | €4,158 | +€2,634 | +172.8% |
| Cash at bank and in hand | 54/58 | €4,540 | €4,760 | +€219 | +4.8% |
| Deferred charges and accrued income | 490/1 | €2,902 | €2,962 | +€60 | +2.1% |
| Total equity and liabilities | 10/49 | €25,722 | €18,886 | -€6,837 | -26.6% |
| Equity | 10/15 | -€1,243 | €845 | +€2,088 | |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €185 | €185 | = | 0.0% |
| Tax-exempt reserves | 132 | €185 | €185 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,828 | -€11,740 | +€2,088 | +15.1% |
| Amounts payable | 17/49 | €26,965 | €18,041 | -€8,924 | -33.1% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €25,871 | €17,289 | -€8,583 | -33.2% |
| Trade debts | 44 | €12,273 | €8,745 | -€3,528 | -28.7% |
| Suppliers | 440/4 | €12,273 | €8,745 | -€3,528 | -28.7% |
| Taxes, remuneration and social security | 45 | €13,598 | €8,544 | -€5,054 | -37.2% |
| Taxes | 450/3 | €13,598 | €8,544 | -€5,054 | -37.2% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €1,094 | €752 | -€342 | -31.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,436 | €1,991 | -€1,444 | -42.0% |
| Other operating charges | 640/8 | €706 | €762 | +€56 | +7.9% |
| Gross operating margin | 9900 | €16,250 | €9,024 | -€7,226 | -44.5% |
| Operating profit (loss) | 9901 | €12,108 | €6,271 | -€5,838 | -48.2% |
| Financial income | 75/76B | - | €154 | +€154 | |
| Recurring financial income | 75 | - | €154 | +€154 | |
| Financial charges | 65/66B | €2,930 | €1,704 | -€1,226 | -41.8% |
| Recurring financial charges | 65 | €2,930 | €1,704 | -€1,226 | -41.8% |
| Profit (loss) for the period before taxes | 9903 | €9,179 | €4,721 | -€4,458 | -48.6% |
| Income taxes | 67/77 | €4,449 | €2,633 | -€1,817 | -40.8% |
| Profit (loss) for the period | 9904 | €4,729 | €2,088 | -€2,641 | -55.9% |
| Profit (loss) for the period to be appropriated | 9905 | €4,729 | €2,088 | -€2,641 | -55.9% |
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 4 October 2026 via checked.be.