FVN: what changed
What changed
FVN
NACE 68.121, Development of residential building projects
filed annual accounts (NBB)
Net result for the year
€340,911
2024 · €95,118+€245,794
Equity
€1.0m
2024 · €826,846+€212,207
Cash
€445,057
2024 · €27,596+€417,462
Balance sheet total
€1.4m
2024 · €1.1m+€312,150
Largest movements
Assets
- Cash +€417,462
up €417,462 (+1,513%), from €27,596 to €445,057
mainly Net result for the year (+€340,911) and Current investments (+€250,000)
- Receivables within one year +€285,377
up €285,377 (+119%), from €238,828 to €524,205
of which Other amounts receivable: +€288,009
- Current investments -€250,000
down €250,000 (-50.0%), from €500,000 to €250,000
- Stocks and contracts -€167,833
down €167,833 (-79.8%), from €210,377 to €42,544
- Tangible fixed assets +€26,696
new in 2025: €26,696
Equity and liabilities
- Reserves +€212,207
up €212,207 (+26.3%), from €808,246 to €1.0m
- Other debts +€99,711
up €99,711 (+51.7%), from €192,935 to €292,646
Income statement
- Gross operating margin +€399,746
up €399,746 (+209%), from €191,366 to €591,112
- Taxes +€114,331
up €114,331 (+236%), from €48,530 to €162,860
- Financial charges +€55,391
up €55,391 (+997%), from €5,554 to €60,945
- Financial income +€20,891
up €20,891 (+495%), from €4,224 to €25,114
of which Non-recurring financial income: +€13,452
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€95,118
Gross operating margin
+€399,746
Staff costs
+€1,080
Depreciation
-€2,791
Other operating charges
-€3,411
Financial income
+€20,891
Financial charges
-€55,391
Taxes
-€114,331
Result 2025
€340,911
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€325,728
Investment
+€220,439
Financing
-€128,705
Cash 2024
€27,596
From operations (derived)
+€325,728
Net result for the year
+€340,911
Depreciation
+€2,791
Stocks and contracts
+€167,833
Receivables within one year
-€285,377
Deferred charges and accrued income
-€373
Trade debts
+€2,775
Tax, wage and social debts
-€5,749
Other debts
+€99,711
Accrued charges and deferred income
+€3,206
Investment (derived)
+€220,439
Investment in fixed assets (net)
-€29,561
Current investments
+€250,000
Financing
-€128,705
Contributions, distributions and other
-€128,705
Cash 2025
€445,057
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,098,944 | €1,411,093 | +€312,150 | +28.4% |
| Fixed assets | 21/28 | - | €26,771 | +€26,771 | |
| Tangible fixed assets | 22/27 | - | €26,696 | +€26,696 | |
| Plant, machinery and equipment | 23 | - | €11,237 | +€11,237 | |
| Furniture and vehicles | 24 | - | €12,616 | +€12,616 | |
| Other tangible fixed assets | 26 | - | €2,842 | +€2,842 | |
| Financial fixed assets | 28 | - | €75 | +€75 | |
| Current assets | 29/58 | €1,098,944 | €1,384,323 | +€285,379 | +26.0% |
| Amounts receivable after more than one year | 29 | €120,000 | €120,000 | = | 0.0% |
| Other amounts receivable | 291 | €120,000 | €120,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €210,377 | €42,544 | -€167,833 | -79.8% |
| Stocks | 30/36 | €210,377 | €42,544 | -€167,833 | -79.8% |
| Amounts receivable within one year | 40/41 | €238,828 | €524,205 | +€285,377 | +119% |
| Trade receivables | 40 | €2,632 | - | -€2,632 | |
| Other amounts receivable | 41 | €236,196 | €524,205 | +€288,009 | +122% |
| Current investments | 50/53 | €500,000 | €250,000 | -€250,000 | -50.0% |
| Cash at bank and in hand | 54/58 | €27,596 | €445,057 | +€417,462 | +1,513% |
| Deferred charges and accrued income | 490/1 | €2,143 | €2,516 | +€373 | +17.4% |
| Total equity and liabilities | 10/49 | €1,098,944 | €1,411,093 | +€312,150 | +28.4% |
| Equity | 10/15 | €826,846 | €1,039,052 | +€212,207 | +25.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €808,246 | €1,020,452 | +€212,207 | +26.3% |
| Distributable reserves | 133 | €808,246 | €1,020,452 | +€212,207 | +26.3% |
| Amounts payable | 17/49 | €272,098 | €372,041 | +€99,943 | +36.7% |
| Amounts payable within one year | 42/48 | €272,098 | €368,835 | +€96,737 | +35.6% |
| Trade debts | 44 | €4,649 | €7,424 | +€2,775 | +59.7% |
| Suppliers | 440/4 | €4,649 | €7,424 | +€2,775 | +59.7% |
| Taxes, remuneration and social security | 45 | €74,514 | €68,765 | -€5,749 | -7.7% |
| Taxes | 450/3 | €68,774 | €63,595 | -€5,179 | -7.5% |
| Remuneration and social security | 454/9 | €5,740 | €5,170 | -€570 | -9.9% |
| Other amounts payable | 47/48 | €192,935 | €292,646 | +€99,711 | +51.7% |
| Accrued charges and deferred income | 492/3 | - | €3,206 | +€3,206 | |
| Non-recurring operating income | 76A | - | €750 | +€750 | |
| Remuneration, social security and pensions | 62 | €44,100 | €43,020 | -€1,080 | -2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €2,791 | +€2,791 | |
| Other operating charges | 640/8 | €2,288 | €5,699 | +€3,411 | +149% |
| Gross operating margin | 9900 | €191,366 | €591,112 | +€399,746 | +209% |
| Operating profit (loss) | 9901 | €144,978 | €539,603 | +€394,625 | +272% |
| Financial income | 75/76B | €4,224 | €25,114 | +€20,891 | +495% |
| Recurring financial income | 75 | €4,224 | €11,663 | +€7,439 | +176% |
| Non-recurring financial income | 76B | - | €13,452 | +€13,452 | |
| Financial charges | 65/66B | €5,554 | €60,945 | +€55,391 | +997% |
| Recurring financial charges | 65 | €5,554 | €60,945 | +€55,391 | +997% |
| Profit (loss) for the period before taxes | 9903 | €143,647 | €503,772 | +€360,124 | +251% |
| Income taxes | 67/77 | €48,530 | €162,860 | +€114,331 | +236% |
| Profit (loss) for the period | 9904 | €95,118 | €340,911 | +€245,794 | +258% |
| Profit (loss) for the period to be appropriated | 9905 | €95,118 | €340,911 | +€245,794 | +258% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.