FVR CONSTRUCT: 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.
FVR CONSTRUCT
Largest movements
- Receivables within one year +€30,291
up €30,291 (+119.7%), from €25,298 to €55,589
of which Other amounts receivable: +€32,546
- Cash -€18,710
down €18,710 (-55.8%), from €33,561 to €14,850
mainly Receivables within one year (-€30,291) and Trade debts (-€17,791)
- Tangible fixed assets -€2,748
down €2,748 (-5.3%), from €51,737 to €48,989
of which Plant, machinery and equipment: -€2,052
- Reserves +€31,921
up €31,921 (+365.4%), from €8,737 to €40,659
- Trade debts -€17,791
down €17,791 (-88.7%), from €20,055 to €2,264
- Other debts -€14,523
no longer reported in 2025 (was €14,523)
- Tax, wage and social debts +€9,784
up €9,784 (+111.3%), from €8,788 to €18,572
of which Taxes: +€13,140
- Advances received -€6,658
down €6,658 (-56.7%), from €11,734 to €5,077
- Gross operating margin +€43,671
up €43,671 (+156.0%), from €27,999 to €71,670
- Depreciation +€9,960
up €9,960 (+100.2%), from €9,938 to €19,898
- Taxes +€9,711
up €9,711 (+268.3%), from €3,620 to €13,332
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 | €122,552 | €131,206 | +€8,654 | +7.1% |
| Fixed assets | 21/28 | €51,737 | €48,989 | -€2,748 | -5.3% |
| Tangible fixed assets | 22/27 | €51,737 | €48,989 | -€2,748 | -5.3% |
| Plant, machinery and equipment | 23 | €9,219 | €7,167 | -€2,052 | -22.3% |
| Leasing and similar rights | 25 | €42,518 | €41,823 | -€696 | -1.6% |
| Current assets | 29/58 | €70,814 | €82,217 | +€11,402 | +16.1% |
| Amounts receivable within one year | 40/41 | €25,298 | €55,589 | +€30,291 | +119.7% |
| Trade receivables | 40 | €11,135 | €8,880 | -€2,255 | -20.3% |
| Other amounts receivable | 41 | €14,163 | €46,709 | +€32,546 | +229.8% |
| Cash at bank and in hand | 54/58 | €33,561 | €14,850 | -€18,710 | -55.8% |
| Deferred charges and accrued income | 490/1 | €11,956 | €11,777 | -€178 | -1.5% |
| Total equity and liabilities | 10/49 | €122,552 | €131,206 | +€8,654 | +7.1% |
| Equity | 10/15 | €18,737 | €50,659 | +€31,921 | +170.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Capital | 10 | €10,000 | €10,000 | = | 0.0% |
| Issued capital | 100 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €8,737 | €40,659 | +€31,921 | +365.4% |
| Distributable reserves | 133 | €8,737 | €40,659 | +€31,921 | +365.4% |
| Amounts payable | 17/49 | €103,815 | €80,547 | -€23,267 | -22.4% |
| Amounts payable after more than one year | 17 | €29,417 | €24,889 | -€4,528 | -15.4% |
| Financial debts | 170/4 | €29,417 | €24,889 | -€4,528 | -15.4% |
| Amounts payable within one year | 42/48 | €68,325 | €44,826 | -€23,499 | -34.4% |
| Current portion of amounts payable after more than one year | 42 | €13,225 | €18,914 | +€5,688 | +43.0% |
| Trade debts | 44 | €20,055 | €2,264 | -€17,791 | -88.7% |
| Suppliers | 440/4 | €20,055 | €2,264 | -€17,791 | -88.7% |
| Advances received on contracts in progress | 46 | €11,734 | €5,077 | -€6,658 | -56.7% |
| Taxes, remuneration and social security | 45 | €8,788 | €18,572 | +€9,784 | +111.3% |
| Taxes | 450/3 | €5,432 | €18,572 | +€13,140 | +241.9% |
| Remuneration and social security | 454/9 | €3,356 | - | -€3,356 | |
| Other amounts payable | 47/48 | €14,523 | - | -€14,523 | |
| Accrued charges and deferred income | 492/3 | €6,073 | €10,832 | +€4,760 | +78.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,938 | €19,898 | +€9,960 | +100.2% |
| Other operating charges | 640/8 | €2,072 | €2,567 | +€495 | +23.9% |
| Gross operating margin | 9900 | €27,999 | €71,670 | +€43,671 | +156.0% |
| Operating profit (loss) | 9901 | €15,989 | €49,205 | +€33,216 | +207.7% |
| Financial income | 75/76B | €3 | €1 | -€2 | -56.7% |
| Recurring financial income | 75 | €3 | €1 | -€2 | -56.7% |
| Financial charges | 65/66B | €3,634 | €3,953 | +€319 | +8.8% |
| Recurring financial charges | 65 | €3,634 | €3,953 | +€319 | +8.8% |
| Profit (loss) for the period before taxes | 9903 | €12,357 | €45,253 | +€32,896 | +266.2% |
| Income taxes | 67/77 | €3,620 | €13,332 | +€9,711 | +268.3% |
| Profit (loss) for the period | 9904 | €8,737 | €31,921 | +€23,184 | +265.4% |
| Profit (loss) for the period to be appropriated | 9905 | €8,737 | €31,921 | +€23,184 | +265.4% |
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 9 October 2026 via checked.be.