FEINER ANALYSIS en ADVICE: 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.
FEINER ANALYSIS en ADVICE
Largest movements
- Current investments -€262,739
down €262,739 (-9.3%), from €2.8m to €2.6m
- Cash +€89,192
up €89,192 (+188%), from €47,390 to €136,582
mainly Other debts (+€807,729) and Current investments (+€262,739)
- Profit (loss) carried forward -€977,865
down €977,865 (-39.5%), from €2.5m to €1.5m
- Other debts +€807,729
up €807,729 (+303%), from €266,560 to €1.1m
- Gross operating margin -€52,218
down €52,218 (-324%), from -€16,141 to -€68,360
- Financial income +€24,792
up €24,792 (+18.6%), from €133,331 to €158,123
- Taxes -€15,504
down €15,504 (-84.2%), from €18,409 to €2,905
- Financial charges -€6,445
down €6,445 (-61.2%), from €10,532 to €4,088
- Depreciation -€776
down €776 (-38.9%), from €1,993 to €1,218
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.
Derived cash bridge
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 | €2,953,921 | €2,768,469 | -€185,453 | -6.3% |
| Fixed assets | 21/28 | €3,358 | €2,140 | -€1,218 | -36.3% |
| Tangible fixed assets | 22/27 | €2,858 | €1,640 | -€1,218 | -42.6% |
| Furniture and vehicles | 24 | €2,712 | €1,640 | -€1,072 | -39.5% |
| Other tangible fixed assets | 26 | €146 | - | -€146 | |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €2,950,564 | €2,766,329 | -€184,235 | -6.2% |
| Amounts receivable within one year | 40/41 | €68,081 | €52,847 | -€15,234 | -22.4% |
| Trade receivables | 40 | €11,027 | €27 | -€10,999 | -99.8% |
| Other amounts receivable | 41 | €57,054 | €52,820 | -€4,234 | -7.4% |
| Current investments | 50/53 | €2,832,720 | €2,569,981 | -€262,739 | -9.3% |
| Cash at bank and in hand | 54/58 | €47,390 | €136,582 | +€89,192 | +188% |
| Deferred charges and accrued income | 490/1 | €2,374 | €6,918 | +€4,545 | +191% |
| Total equity and liabilities | 10/49 | €2,953,921 | €2,768,469 | -€185,453 | -6.3% |
| Equity | 10/15 | €2,664,471 | €1,686,606 | -€977,865 | -36.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €171,877 | €171,877 | = | 0.0% |
| Distributable reserves | 133 | €171,877 | €171,877 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,473,994 | €1,496,129 | -€977,865 | -39.5% |
| Amounts payable | 17/49 | €289,450 | €1,081,862 | +€792,412 | +274% |
| Amounts payable within one year | 42/48 | €279,139 | €1,075,183 | +€796,044 | +285% |
| Financial debts | 43 | €481 | €746 | +€265 | +55.2% |
| Credit institutions | 430/8 | €481 | €746 | +€265 | +55.2% |
| Trade debts | 44 | €11,467 | €148 | -€11,320 | -98.7% |
| Suppliers | 440/4 | €11,467 | €148 | -€11,320 | -98.7% |
| Taxes, remuneration and social security | 45 | €631 | - | -€631 | |
| Taxes | 450/3 | €631 | - | -€631 | |
| Other amounts payable | 47/48 | €266,560 | €1,074,289 | +€807,729 | +303% |
| Accrued charges and deferred income | 492/3 | €10,311 | €6,680 | -€3,631 | -35.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,993 | €1,218 | -€776 | -38.9% |
| Other operating charges | 640/8 | €9,133 | €9,418 | +€285 | +3.1% |
| Gross operating margin | 9900 | -€16,141 | -€68,360 | -€52,218 | -324% |
| Operating profit (loss) | 9901 | -€27,267 | -€78,995 | -€51,728 | -190% |
| Financial income | 75/76B | €133,331 | €158,123 | +€24,792 | +18.6% |
| Recurring financial income | 75 | €133,331 | €158,123 | +€24,792 | +18.6% |
| Financial charges | 65/66B | €10,532 | €4,088 | -€6,445 | -61.2% |
| Recurring financial charges | 65 | €10,532 | €4,088 | -€6,445 | -61.2% |
| Profit (loss) for the period before taxes | 9903 | €95,531 | €75,040 | -€20,491 | -21.4% |
| Income taxes | 67/77 | €18,409 | €2,905 | -€15,504 | -84.2% |
| Profit (loss) for the period | 9904 | €77,122 | €72,135 | -€4,987 | -6.5% |
| Profit (loss) for the period to be appropriated | 9905 | €77,122 | €72,135 | -€4,987 | -6.5% |
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 27 October 2026 via checked.be.