FVW CONSULT: 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.
FVW CONSULT
Largest movements
- Cash +€301,864
up €301,864 (+668.7%), from €45,142 to €347,006
mainly Current investments (+€282,000) and Net result for the year (+€163,883)
- Current investments -€282,000
down €282,000 (-69.6%), from €405,000 to €123,000
- Tangible fixed assets -€37,091
down €37,091 (-5.7%), from €656,170 to €619,078
of which Land and buildings: -€19,288
- Reserves -€41,595
down €41,595 (-6.2%), from €674,673 to €633,077
- Gross operating margin +€80,060
up €80,060 (+37.8%), from €211,921 to €291,982
- Taxes +€39,574
up €39,574 (+127.8%), from €30,971 to €70,545
- Depreciation -€27,115
down €27,115 (-42.2%), from €64,207 to €37,091
- Financial income +€4,329
up €4,329 (+41.4%), from €10,464 to €14,793
- Financial charges -€4,222
down €4,222 (-11.8%), from €35,861 to €31,638
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 | €1,186,582 | €1,154,003 | -€32,579 | -2.7% |
| Fixed assets | 21/28 | €719,860 | €675,993 | -€43,868 | -6.1% |
| Tangible fixed assets | 22/27 | €656,170 | €619,078 | -€37,091 | -5.7% |
| Land and buildings | 22 | €597,588 | €578,300 | -€19,288 | -3.2% |
| Plant, machinery and equipment | 23 | €26,035 | €19,480 | -€6,555 | -25.2% |
| Furniture and vehicles | 24 | €32,546 | €21,297 | -€11,249 | -34.6% |
| Financial fixed assets | 28 | €63,690 | €56,914 | -€6,776 | -10.6% |
| Current assets | 29/58 | €466,722 | €478,011 | +€11,288 | +2.4% |
| Amounts receivable within one year | 40/41 | €16,580 | €8,005 | -€8,575 | -51.7% |
| Other amounts receivable | 41 | €16,580 | €8,005 | -€8,575 | -51.7% |
| Current investments | 50/53 | €405,000 | €123,000 | -€282,000 | -69.6% |
| Cash at bank and in hand | 54/58 | €45,142 | €347,006 | +€301,864 | +668.7% |
| Total equity and liabilities | 10/49 | €1,186,582 | €1,154,003 | -€32,579 | -2.7% |
| Equity | 10/15 | €693,273 | €651,677 | -€41,595 | -6.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €674,673 | €633,077 | -€41,595 | -6.2% |
| Non-distributable reserves | 130/1 | €674,673 | €633,077 | -€41,595 | -6.2% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €672,813 | €631,217 | -€41,595 | -6.2% |
| Amounts payable | 17/49 | €493,310 | €502,326 | +€9,016 | +1.8% |
| Amounts payable within one year | 42/48 | €493,310 | €502,326 | +€9,016 | +1.8% |
| Trade debts | 44 | €515 | €444 | -€71 | -13.8% |
| Suppliers | 440/4 | €515 | €444 | -€71 | -13.8% |
| Taxes, remuneration and social security | 45 | €43,254 | €51,488 | +€8,234 | +19.0% |
| Taxes | 450/3 | €43,254 | €51,488 | +€8,234 | +19.0% |
| Other amounts payable | 47/48 | €449,541 | €450,394 | +€853 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,207 | €37,091 | -€27,115 | -42.2% |
| Other operating charges | 640/8 | €2,866 | €3,618 | +€752 | +26.2% |
| Gross operating margin | 9900 | €211,921 | €291,982 | +€80,060 | +37.8% |
| Operating profit (loss) | 9901 | €144,849 | €251,273 | +€106,424 | +73.5% |
| Financial income | 75/76B | €10,464 | €14,793 | +€4,329 | +41.4% |
| Recurring financial income | 75 | €10,464 | €14,793 | +€4,329 | +41.4% |
| Financial charges | 65/66B | €35,861 | €31,638 | -€4,222 | -11.8% |
| Recurring financial charges | 65 | €35,861 | €31,638 | -€4,222 | -11.8% |
| Profit (loss) for the period before taxes | 9903 | €119,452 | €234,428 | +€114,976 | +96.3% |
| Income taxes | 67/77 | €30,971 | €70,545 | +€39,574 | +127.8% |
| Profit (loss) for the period | 9904 | €88,481 | €163,883 | +€75,402 | +85.2% |
| Profit (loss) for the period to be appropriated | 9905 | €88,481 | €163,883 | +€75,402 | +85.2% |
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 11 October 2026 via checked.be.