FVDM Group: 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.
FVDM Group
Largest movements
- Current investments +€368,538
up €368,538 (+7.5%), from €4.9m to €5.3m
- Cash +€235,634
up €235,634 (+236.3%), from €99,732 to €335,366
mainly Other debts (+€378,265) and Net result for the year (+€159,908)
- Other debts +€378,265
up €378,265 (+16.2%), from €2.3m to €2.7m
- Profit (loss) carried forward +€159,908
up €159,908 (+4.6%), from €3.5m to €3.7m
- Gross operating margin +€386,275
up €386,275 (+461.6%), from €83,686 to €469,961
- Taxes +€87,222
up €87,222 (+1074.3%), from €8,119 to €95,341
- Financial charges +€71,776
up €71,776 (+44.1%), from €162,874 to €234,650
of which Non-recurring financial charges: +€46,989
- Financial income -€62,380
down €62,380 (-55.0%), from €113,329 to €50,949
- Purchases and services -€36,376
down €36,376 (-21.5%), from €169,095 to €132,719
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 | €8,978,236 | €9,542,981 | +€564,745 | +6.3% |
| Formation expenses | 20 | €259 | - | -€259 | |
| Fixed assets | 21/28 | €3,906,025 | €3,876,608 | -€29,417 | -0.8% |
| Tangible fixed assets | 22/27 | €543,134 | €513,717 | -€29,417 | -5.4% |
| Land and buildings | 22 | €540,509 | €511,748 | -€28,761 | -5.3% |
| Plant, machinery and equipment | 23 | €2,625 | €1,969 | -€656 | -25.0% |
| Financial fixed assets | 28 | €3,362,891 | €3,362,891 | = | 0.0% |
| Current assets | 29/58 | €5,071,952 | €5,666,373 | +€594,421 | +11.7% |
| Amounts receivable within one year | 40/41 | €26,240 | €16,489 | -€9,751 | -37.2% |
| Trade receivables | 40 | €8,313 | €3,000 | -€5,313 | -63.9% |
| Other amounts receivable | 41 | €17,927 | €13,489 | -€4,438 | -24.8% |
| Current investments | 50/53 | €4,945,980 | €5,314,518 | +€368,538 | +7.5% |
| Cash at bank and in hand | 54/58 | €99,732 | €335,366 | +€235,634 | +236.3% |
| Total equity and liabilities | 10/49 | €8,978,236 | €9,542,981 | +€564,745 | +6.3% |
| Equity | 10/15 | €6,233,007 | €6,392,915 | +€159,908 | +2.6% |
| Contributions | 10/11 | €2,537,700 | €2,537,700 | = | 0.0% |
| Capital | 10 | €2,537,700 | €2,537,700 | = | 0.0% |
| Issued capital | 100 | €2,537,700 | €2,537,700 | = | 0.0% |
| Reserves | 13 | €194,946 | €194,946 | = | 0.0% |
| Non-distributable reserves | 130/1 | €194,946 | €194,946 | = | 0.0% |
| Legal reserve | 130 | €194,946 | €194,946 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,500,361 | €3,660,269 | +€159,908 | +4.6% |
| Amounts payable | 17/49 | €2,745,229 | €3,150,066 | +€404,837 | +14.7% |
| Amounts payable after more than one year | 17 | €317,039 | €291,505 | -€25,534 | -8.1% |
| Financial debts | 170/4 | €317,039 | €291,505 | -€25,534 | -8.1% |
| Amounts payable within one year | 42/48 | €2,428,190 | €2,858,561 | +€430,371 | +17.7% |
| Current portion of amounts payable after more than one year | 42 | €27,661 | €27,661 | = | 0.0% |
| Trade debts | 44 | €16,033 | €5,230 | -€10,803 | -67.4% |
| Suppliers | 440/4 | €16,033 | €5,230 | -€10,803 | -67.4% |
| Taxes, remuneration and social security | 45 | €46,767 | €109,676 | +€62,909 | +134.5% |
| Taxes | 450/3 | €46,767 | €109,676 | +€62,909 | +134.5% |
| Other amounts payable | 47/48 | €2,337,729 | €2,715,994 | +€378,265 | +16.2% |
| Turnover | 70 | €108,000 | €108,000 | = | 0.0% |
| Non-recurring operating income | 76A | €125,182 | €464,049 | +€338,867 | +270.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €169,095 | €132,719 | -€36,376 | -21.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,147 | €29,676 | -€471 | -1.6% |
| Other operating charges | 640/8 | €1,503 | €1,335 | -€168 | -11.2% |
| Gross operating margin | 9900 | €83,686 | €469,961 | +€386,275 | +461.6% |
| Operating profit (loss) | 9901 | €52,036 | €438,950 | +€386,914 | +743.6% |
| Financial income | 75/76B | €113,329 | €50,949 | -€62,380 | -55.0% |
| Recurring financial income | 75 | €113,329 | €50,949 | -€62,380 | -55.0% |
| Financial charges | 65/66B | €162,874 | €234,650 | +€71,776 | +44.1% |
| Recurring financial charges | 65 | €137,970 | €162,757 | +€24,787 | +18.0% |
| Non-recurring financial charges | 66B | €24,904 | €71,893 | +€46,989 | +188.7% |
| Profit (loss) for the period before taxes | 9903 | €2,491 | €255,249 | +€252,758 | +10146.8% |
| Income taxes | 67/77 | €8,119 | €95,341 | +€87,222 | +1074.3% |
| Profit (loss) for the period | 9904 | -€5,628 | €159,908 | +€165,536 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,628 | €159,908 | +€165,536 |
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 3 October 2026 via checked.be.