FVDM MONTAGE: 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.
FVDM MONTAGE
Largest movements
- Tangible fixed assets -€13,075
no longer reported in 2025 (was €13,075)
- Receivables within one year +€796
up €796 (+2.2%), from €36,016 to €36,812
of which Other amounts receivable: +€796
- Reserves -€9,492
down €9,492 (-37.5%), from €25,278 to €15,786
- Tax, wage and social debts -€3,583
no longer reported in 2025 (was €3,583)
- Short-term financial debts +€2,307
up €2,307 (+201%), from €1,148 to €3,456
- Profit (loss) carried forward -€1,828
new in 2025: -€1,828
- Gross operating margin -€17,489
down €17,489, from €15,405 to -€2,084
- Taxes -€3,583
no longer reported in 2025 (was €3,583)
- Depreciation -€3,269
no longer reported in 2025 (was €3,269)
- Financial income +€516
up €516 (+82.1%), from €629 to €1,144
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €49,091 | €36,812 | -€12,279 | -25.0% |
| Fixed assets | 21/28 | €13,075 | - | -€13,075 | |
| Tangible fixed assets | 22/27 | €13,075 | - | -€13,075 | |
| Plant, machinery and equipment | 23 | €13,075 | - | -€13,075 | |
| Current assets | 29/58 | €36,016 | €36,812 | +€796 | +2.2% |
| Amounts receivable within one year | 40/41 | €36,016 | €36,812 | +€796 | +2.2% |
| Trade receivables | 40 | €14,700 | €14,700 | = | 0.0% |
| Other amounts receivable | 41 | €21,316 | €22,112 | +€796 | +3.7% |
| Total equity and liabilities | 10/49 | €49,091 | €36,812 | -€12,279 | -25.0% |
| Equity | 10/15 | €43,878 | €32,558 | -€11,320 | -25.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €25,278 | €15,786 | -€9,492 | -37.5% |
| Distributable reserves | 133 | €25,278 | €15,786 | -€9,492 | -37.5% |
| Profit (loss) carried forward | 14 | - | -€1,828 | -€1,828 | |
| Amounts payable | 17/49 | €5,212 | €4,254 | -€959 | -18.4% |
| Amounts payable within one year | 42/48 | €5,212 | €4,254 | -€959 | -18.4% |
| Financial debts | 43 | €1,148 | €3,456 | +€2,307 | +201% |
| Credit institutions | 430/8 | €1,148 | €3,456 | +€2,307 | +201% |
| Trade debts | 44 | €481 | €798 | +€317 | +65.8% |
| Suppliers | 440/4 | €481 | €798 | +€317 | +65.8% |
| Taxes, remuneration and social security | 45 | €3,583 | - | -€3,583 | |
| Taxes | 450/3 | €3,583 | - | -€3,583 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,269 | - | -€3,269 | |
| Other operating charges | 640/8 | €528 | €544 | +€16 | +3.0% |
| Gross operating margin | 9900 | €15,405 | -€2,084 | -€17,489 | |
| Operating profit (loss) | 9901 | €11,608 | -€2,628 | -€14,236 | |
| Financial income | 75/76B | €629 | €1,144 | +€516 | +82.1% |
| Recurring financial income | 75 | €629 | €1,144 | +€516 | +82.1% |
| Financial charges | 65/66B | €191 | €344 | +€154 | +80.8% |
| Recurring financial charges | 65 | €191 | €344 | +€154 | +80.8% |
| Profit (loss) for the period before taxes | 9903 | €12,047 | -€1,828 | -€13,874 | |
| Income taxes | 67/77 | €3,583 | - | -€3,583 | |
| Profit (loss) for the period | 9904 | €8,464 | -€1,828 | -€10,292 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,464 | -€1,828 | -€10,292 |
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 30 October 2026 via checked.be.