FvH: 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.
FvH
Largest movements
- Cash +€26,617
up €26,617 (+63.0%), from €42,267 to €68,884
mainly Net result for the year (+€45,196) and Trade debts (+€7,716)
- Reserves +€45,150
up €45,150 (+23.1%), from €195,134 to €240,284
- Debts after one year -€26,473
down €26,473 (-9.2%), from €289,217 to €262,744
- Trade debts +€7,716
up €7,716 (+691%), from €1,116 to €8,832
- Gross operating margin -€19,541
down €19,541 (-21.3%), from €91,678 to €72,137
- Taxes -€4,131
down €4,131 (-19.0%), from €21,702 to €17,571
- Financial income -€2,064
down €2,064 (-27.8%), from €7,424 to €5,360
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 | €529,388 | €558,392 | +€29,003 | +5.5% |
| Fixed assets | 21/28 | €425,000 | €425,000 | = | 0.0% |
| Tangible fixed assets | 22/27 | - | €0 | = | |
| Furniture and vehicles | 24 | - | €0 | = | |
| Financial fixed assets | 28 | €425,000 | €425,000 | = | 0.0% |
| Current assets | 29/58 | €104,388 | €133,392 | +€29,003 | +27.8% |
| Amounts receivable within one year | 40/41 | €60,759 | €63,312 | +€2,552 | +4.2% |
| Trade receivables | 40 | €12,475 | €7,260 | -€5,215 | -41.8% |
| Other amounts receivable | 41 | €48,285 | €56,052 | +€7,767 | +16.1% |
| Cash at bank and in hand | 54/58 | €42,267 | €68,884 | +€26,617 | +63.0% |
| Deferred charges and accrued income | 490/1 | €1,362 | €1,196 | -€166 | -12.2% |
| Total equity and liabilities | 10/49 | €529,388 | €558,392 | +€29,003 | +5.5% |
| Equity | 10/15 | €196,407 | €241,603 | +€45,196 | +23.0% |
| Contributions | 10/11 | €1,100 | €1,100 | = | 0.0% |
| Reserves | 13 | €195,134 | €240,284 | +€45,150 | +23.1% |
| Distributable reserves | 133 | €195,134 | €240,284 | +€45,150 | +23.1% |
| Profit (loss) carried forward | 14 | €174 | €220 | +€46 | +26.5% |
| Amounts payable | 17/49 | €332,981 | €316,788 | -€16,193 | -4.9% |
| Amounts payable after more than one year | 17 | €289,217 | €262,744 | -€26,473 | -9.2% |
| Financial debts | 170/4 | €289,217 | €262,744 | -€26,473 | -9.2% |
| Amounts payable within one year | 42/48 | €41,666 | €54,044 | +€12,378 | +29.7% |
| Current portion of amounts payable after more than one year | 42 | €25,474 | €26,473 | +€999 | +3.9% |
| Trade debts | 44 | €1,116 | €8,832 | +€7,716 | +691% |
| Suppliers | 440/4 | €1,116 | €8,832 | +€7,716 | +691% |
| Advances received on contracts in progress | 46 | €458 | - | -€458 | |
| Taxes, remuneration and social security | 45 | €14,617 | €16,642 | +€2,024 | +13.8% |
| Taxes | 450/3 | €11,517 | €13,542 | +€2,024 | +17.6% |
| Remuneration and social security | 454/9 | €3,100 | €3,100 | = | 0.0% |
| Other amounts payable | 47/48 | - | €2,098 | +€2,098 | |
| Accrued charges and deferred income | 492/3 | €2,098 | - | -€2,098 | |
| Non-recurring operating income | 76A | €44,212 | - | -€44,212 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €766 | - | -€766 | |
| Other operating charges | 640/8 | €1,087 | €735 | -€352 | -32.4% |
| Non-recurring operating charges | 66A | €6,320 | - | -€6,320 | |
| Gross operating margin | 9900 | €91,678 | €72,137 | -€19,541 | -21.3% |
| Operating profit (loss) | 9901 | €83,505 | €71,402 | -€12,103 | -14.5% |
| Financial income | 75/76B | €7,424 | €5,360 | -€2,064 | -27.8% |
| Recurring financial income | 75 | €7,424 | €5,360 | -€2,064 | -27.8% |
| Financial charges | 65/66B | €13,327 | €13,995 | +€668 | +5.0% |
| Recurring financial charges | 65 | €13,327 | €13,995 | +€668 | +5.0% |
| Profit (loss) for the period before taxes | 9903 | €77,602 | €62,767 | -€14,835 | -19.1% |
| Income taxes | 67/77 | €21,702 | €17,571 | -€4,131 | -19.0% |
| Profit (loss) for the period | 9904 | €55,900 | €45,196 | -€10,703 | -19.1% |
| Profit (loss) for the period to be appropriated | 9905 | €55,900 | €45,196 | -€10,703 | -19.1% |
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 13 October 2026 via checked.be.