FVD Services: 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.
FVD Services
Largest movements
- Cash +€222,468
up €222,468 (+832.0%), from €26,738 to €249,206
mainly Current investments (+€175,000) and Net result for the year (+€98,574)
- Current investments -€175,000
no longer reported in 2025 (was €175,000)
- Tangible fixed assets -€17,067
down €17,067 (-31.1%), from €54,943 to €37,876
of which Furniture and vehicles: -€8,936
- Receivables after one year -€8,000
no longer reported in 2025 (was €8,000)
- Receivables within one year +€6,735
up €6,735 (+6.0%), from €112,134 to €118,869
of which Trade receivables: +€6,274
- Reserves +€57,074
up €57,074 (+19.1%), from €298,606 to €355,680
- Tax, wage and social debts -€12,523
down €12,523 (-32.7%), from €38,289 to €25,766
of which Taxes: -€15,950
- Trade debts -€8,833
down €8,833 (-29.5%), from €29,945 to €21,112
- Other debts +€6,427
up €6,427 (+130.8%), from €4,912 to €11,339
- Debts after one year -€4,973
down €4,973 (-27.8%), from €17,866 to €12,893
- Gross operating margin +€47,852
up €47,852 (+36.6%), from €130,903 to €178,755
- Staff costs +€10,668
new in 2025: €10,668
- Taxes +€10,179
up €10,179 (+30.0%), from €33,882 to €44,060
- Write-downs +€4,026
up €4,026 (+533.7%), from €754 to €4,780
- Depreciation +€3,133
up €3,133 (+20.1%), from €15,558 to €18,692
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 | €397,552 | €434,829 | +€37,277 | +9.4% |
| Fixed assets | 21/28 | €54,993 | €37,926 | -€17,067 | -31.0% |
| Tangible fixed assets | 22/27 | €54,943 | €37,876 | -€17,067 | -31.1% |
| Land and buildings | 22 | €12,586 | €5,135 | -€7,451 | -59.2% |
| Plant, machinery and equipment | 23 | €1,030 | €350 | -€680 | -66.0% |
| Furniture and vehicles | 24 | €41,327 | €32,391 | -€8,936 | -21.6% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €342,559 | €396,903 | +€54,344 | +15.9% |
| Amounts receivable after more than one year | 29 | €8,000 | - | -€8,000 | |
| Other amounts receivable | 291 | €8,000 | - | -€8,000 | |
| Stocks and contracts in progress | 3 | €15,834 | €21,324 | +€5,490 | +34.7% |
| Stocks | 30/36 | €15,834 | €21,324 | +€5,490 | +34.7% |
| Amounts receivable within one year | 40/41 | €112,134 | €118,869 | +€6,735 | +6.0% |
| Trade receivables | 40 | €111,330 | €117,604 | +€6,274 | +5.6% |
| Other amounts receivable | 41 | €804 | €1,265 | +€461 | +57.3% |
| Current investments | 50/53 | €175,000 | - | -€175,000 | |
| Cash at bank and in hand | 54/58 | €26,738 | €249,206 | +€222,468 | +832.0% |
| Deferred charges and accrued income | 490/1 | €4,853 | €7,504 | +€2,651 | +54.6% |
| Total equity and liabilities | 10/49 | €397,552 | €434,829 | +€37,277 | +9.4% |
| Equity | 10/15 | €299,606 | €356,680 | +€57,074 | +19.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €298,606 | €355,680 | +€57,074 | +19.1% |
| Distributable reserves | 133 | €298,606 | €355,680 | +€57,074 | +19.1% |
| Amounts payable | 17/49 | €97,946 | €78,150 | -€19,797 | -20.2% |
| Amounts payable after more than one year | 17 | €17,866 | €12,893 | -€4,973 | -27.8% |
| Financial debts | 170/4 | €17,866 | €12,893 | -€4,973 | -27.8% |
| Amounts payable within one year | 42/48 | €78,013 | €63,189 | -€14,824 | -19.0% |
| Current portion of amounts payable after more than one year | 42 | €4,867 | €4,973 | +€106 | +2.2% |
| Trade debts | 44 | €29,945 | €21,112 | -€8,833 | -29.5% |
| Suppliers | 440/4 | €29,945 | €21,112 | -€8,833 | -29.5% |
| Taxes, remuneration and social security | 45 | €38,289 | €25,766 | -€12,523 | -32.7% |
| Taxes | 450/3 | €38,289 | €22,339 | -€15,950 | -41.7% |
| Remuneration and social security | 454/9 | - | €3,427 | +€3,427 | |
| Other amounts payable | 47/48 | €4,912 | €11,339 | +€6,427 | +130.8% |
| Accrued charges and deferred income | 492/3 | €2,068 | €2,067 | -€1 | 0.0% |
| Remuneration, social security and pensions | 62 | - | €10,668 | +€10,668 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,558 | €18,692 | +€3,133 | +20.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €754 | €4,780 | +€4,026 | +533.7% |
| Other operating charges | 640/8 | €2,317 | €858 | -€1,459 | -63.0% |
| Gross operating margin | 9900 | €130,903 | €178,755 | +€47,852 | +36.6% |
| Operating profit (loss) | 9901 | €112,273 | €143,758 | +€31,485 | +28.0% |
| Financial income | 75/76B | €406 | €1,263 | +€857 | +211.3% |
| Recurring financial income | 75 | €406 | €1,263 | +€857 | +211.3% |
| Financial charges | 65/66B | €1,614 | €2,386 | +€772 | +47.9% |
| Recurring financial charges | 65 | €1,614 | €2,386 | +€772 | +47.9% |
| Profit (loss) for the period before taxes | 9903 | €111,064 | €142,634 | +€31,570 | +28.4% |
| Income taxes | 67/77 | €33,882 | €44,060 | +€10,179 | +30.0% |
| Profit (loss) for the period | 9904 | €77,183 | €98,574 | +€21,391 | +27.7% |
| Profit (loss) for the period to be appropriated | 9905 | €77,183 | €98,574 | +€21,391 | +27.7% |
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 11 October 2026 via checked.be.