FVV: 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.
FVV
Largest movements
- Stocks and contracts +€688,632
up €688,632 (+360.4%), from €191,099 to €879,731
- Cash +€25,715
up €25,715 (+1953.5%), from €1,316 to €27,031
mainly Short-term financial debts (+€399,476) and Other debts (+€227,808)
- Receivables within one year -€10,152
down €10,152 (-94.9%), from €10,692 to €540
of which Other amounts receivable: -€10,210
- Short-term financial debts +€399,476
new in 2025: €399,476
- Other debts +€227,808
up €227,808 (+135.2%), from €168,465 to €396,273
- Trade debts +€98,940
up €98,940 (+4077.9%), from €2,426 to €101,367
- Reserves -€14,029
down €14,029 (-36.1%), from €38,815 to €24,786
- Gross operating margin -€81,658
down €81,658 (-91.3%), from €89,399 to €7,741
- Other operating charges -€22,688
down €22,688 (-62.6%), from €36,270 to €13,582
- Taxes -€12,998
no longer reported in 2025 (was €12,998)
- Financial income -€3,538
down €3,538 (-56.7%), from €6,245 to €2,707
- Financial charges +€3,334
up €3,334 (+44.1%), from €7,561 to €10,895
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 | €214,707 | €926,902 | +€712,195 | +331.7% |
| Fixed assets | 21/28 | €11,600 | €19,600 | +€8,000 | +69.0% |
| Financial fixed assets | 28 | €11,600 | €19,600 | +€8,000 | +69.0% |
| Current assets | 29/58 | €203,107 | €907,302 | +€704,195 | +346.7% |
| Stocks and contracts in progress | 3 | €191,099 | €879,731 | +€688,632 | +360.4% |
| Stocks | 30/36 | €191,099 | €879,731 | +€688,632 | +360.4% |
| Amounts receivable within one year | 40/41 | €10,692 | €540 | -€10,152 | -94.9% |
| Trade receivables | 40 | - | €58 | +€58 | |
| Other amounts receivable | 41 | €10,692 | €482 | -€10,210 | -95.5% |
| Cash at bank and in hand | 54/58 | €1,316 | €27,031 | +€25,715 | +1953.5% |
| Total equity and liabilities | 10/49 | €214,707 | €926,902 | +€712,195 | +331.7% |
| Equity | 10/15 | €43,815 | €29,786 | -€14,029 | -32.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €38,815 | €24,786 | -€14,029 | -36.1% |
| Distributable reserves | 133 | €38,815 | €24,786 | -€14,029 | -36.1% |
| Amounts payable | 17/49 | €170,892 | €897,116 | +€726,224 | +425.0% |
| Amounts payable within one year | 42/48 | €170,892 | €897,116 | +€726,224 | +425.0% |
| Financial debts | 43 | - | €399,476 | +€399,476 | |
| Credit institutions | 430/8 | - | €399,476 | +€399,476 | |
| Trade debts | 44 | €2,426 | €101,367 | +€98,940 | +4077.9% |
| Suppliers | 440/4 | €2,426 | €101,367 | +€98,940 | +4077.9% |
| Other amounts payable | 47/48 | €168,465 | €396,273 | +€227,808 | +135.2% |
| Other operating charges | 640/8 | €36,270 | €13,582 | -€22,688 | -62.6% |
| Gross operating margin | 9900 | €89,399 | €7,741 | -€81,658 | -91.3% |
| Operating profit (loss) | 9901 | €53,129 | -€5,841 | -€58,971 | |
| Financial income | 75/76B | €6,245 | €2,707 | -€3,538 | -56.7% |
| Recurring financial income | 75 | €6,245 | €2,707 | -€3,538 | -56.7% |
| Financial charges | 65/66B | €7,561 | €10,895 | +€3,334 | +44.1% |
| Recurring financial charges | 65 | €7,561 | €10,895 | +€3,334 | +44.1% |
| Profit (loss) for the period before taxes | 9903 | €51,813 | -€14,029 | -€65,842 | |
| Income taxes | 67/77 | €12,998 | - | -€12,998 | |
| Profit (loss) for the period | 9904 | €38,815 | -€14,029 | -€52,844 | |
| Profit (loss) for the period to be appropriated | 9905 | €38,815 | -€14,029 | -€52,844 |
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 10 October 2026 via checked.be.