FDV PROJECTS: what changed
FDV PROJECTS
Largest movements
- Cash +€25,042
up €25,042 (+196%), from €12,769 to €37,811
mainly Depreciation (+€14,397) and Stocks and contracts (+€10,000)
- Stocks and contracts -€10,000
no longer reported in 2025 (was €10,000)
- Receivables within one year -€4,621
down €4,621 (-11.6%), from €39,794 to €35,173
of which Trade receivables: -€4,802
- Tangible fixed assets -€3,575
down €3,575 (-7.8%), from €45,780 to €42,204
of which Plant, machinery and equipment: -€7,074
- Other debts +€6,566
up €6,566 (+7.4%), from €88,944 to €95,510
- Trade debts -€4,586
down €4,586 (-65.2%), from €7,030 to €2,444
- Tax, wage and social debts +€2,964
up €2,964 (+204%), from €1,456 to €4,420
- Profit (loss) carried forward +€1,946
up €1,946 (+327%), from €596 to €2,542
- Gross operating margin +€7,404
up €7,404 (+65.8%), from €11,246 to €18,650
- Depreciation +€3,766
up €3,766 (+35.4%), from €10,632 to €14,397
- Other operating charges -€328
down €328 (-20.1%), from €1,634 to €1,306
- Financial charges +€229
up €229 (+288%), from €80 to €309
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €108,342 | €115,233 | +€6,891 | +6.4% |
| Fixed assets | 21/28 | €45,780 | €42,204 | -€3,575 | -7.8% |
| Tangible fixed assets | 22/27 | €45,780 | €42,204 | -€3,575 | -7.8% |
| Plant, machinery and equipment | 23 | €19,334 | €12,260 | -€7,074 | -36.6% |
| Furniture and vehicles | 24 | €26,445 | €29,944 | +€3,499 | +13.2% |
| Current assets | 29/58 | €62,563 | €73,029 | +€10,466 | +16.7% |
| Stocks and contracts in progress | 3 | €10,000 | - | -€10,000 | |
| Contracts in progress | 37 | €10,000 | - | -€10,000 | |
| Amounts receivable within one year | 40/41 | €39,794 | €35,173 | -€4,621 | -11.6% |
| Trade receivables | 40 | €39,212 | €34,410 | -€4,802 | -12.2% |
| Other amounts receivable | 41 | €582 | €763 | +€181 | +31.2% |
| Cash at bank and in hand | 54/58 | €12,769 | €37,811 | +€25,042 | +196% |
| Deferred charges and accrued income | 490/1 | - | €45 | +€45 | |
| Total equity and liabilities | 10/49 | €108,342 | €115,233 | +€6,891 | +6.4% |
| Equity | 10/15 | €10,596 | €12,542 | +€1,946 | +18.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €596 | €2,542 | +€1,946 | +327% |
| Amounts payable | 17/49 | €97,746 | €102,691 | +€4,945 | +5.1% |
| Amounts payable within one year | 42/48 | €97,431 | €102,374 | +€4,944 | +5.1% |
| Trade debts | 44 | €7,030 | €2,444 | -€4,586 | -65.2% |
| Suppliers | 440/4 | €7,030 | €2,444 | -€4,586 | -65.2% |
| Taxes, remuneration and social security | 45 | €1,456 | €4,420 | +€2,964 | +204% |
| Taxes | 450/3 | €1,456 | €4,420 | +€2,964 | +204% |
| Other amounts payable | 47/48 | €88,944 | €95,510 | +€6,566 | +7.4% |
| Accrued charges and deferred income | 492/3 | €316 | €317 | +€1 | +0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,632 | €14,397 | +€3,766 | +35.4% |
| Other operating charges | 640/8 | €1,634 | €1,306 | -€328 | -20.1% |
| Gross operating margin | 9900 | €11,246 | €18,650 | +€7,404 | +65.8% |
| Operating profit (loss) | 9901 | -€1,020 | €2,946 | +€3,966 | |
| Financial charges | 65/66B | €80 | €309 | +€229 | +288% |
| Recurring financial charges | 65 | €80 | €309 | +€229 | +288% |
| Profit (loss) for the period before taxes | 9903 | -€1,100 | €2,637 | +€3,737 | |
| Income taxes | 67/77 | €747 | €691 | -€56 | -7.5% |
| Profit (loss) for the period | 9904 | -€1,847 | €1,946 | +€3,793 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,847 | €1,946 | +€3,793 |
Next steps
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 2 November 2026 via checked.be.