fimali advisory: 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.
fimali advisory
Largest movements
- Current investments -€180,120
down €180,120 (-69.3%), from €260,000 to €79,880
- Receivables within one year +€122,933
up €122,933 (+228%), from €53,938 to €176,870
of which Trade receivables: +€116,750
- Cash +€11,710
up €11,710 (+9.1%), from €129,240 to €140,950
mainly Current investments (+€180,120) and Other debts (+€129,321)
- Stocks and contracts -€11,267
down €11,267 (-30.2%), from €37,298 to €26,031
- Deferred charges and accrued income +€7,735
up €7,735 (+77.2%), from €10,017 to €17,751
- Other debts +€129,321
up €129,321 (+245%), from €52,744 to €182,065
- Reserves -€119,821
down €119,821 (-39.2%), from €305,645 to €185,824
- Trade debts -€58,773
down €58,773 (-48.1%), from €122,276 to €63,503
- Accrued charges and deferred income -€7,856
down €7,856 (-100%), from €7,856 to €0
- Gross operating margin -€46,858
down €46,858 (-45.1%), from €103,830 to €56,972
- Other operating charges -€3,778
down €3,778 (-97.3%), from €3,881 to €103
- Financial charges +€2,423
up €2,423 (+35.8%), from €6,760 to €9,183
- Staff costs -€1,199
down €1,199 (-67.4%), from €1,778 to €579
- Taxes -€1,144
down €1,144 (-4.4%), from €25,843 to €24,699
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 | €515,868 | €460,206 | -€55,661 | -10.8% |
| Fixed assets | 21/28 | €25,375 | €18,724 | -€6,652 | -26.2% |
| Tangible fixed assets | 22/27 | €25,375 | €18,724 | -€6,652 | -26.2% |
| Plant, machinery and equipment | 23 | €843 | €1,641 | +€798 | +94.7% |
| Furniture and vehicles | 24 | €24,532 | €17,083 | -€7,450 | -30.4% |
| Current assets | 29/58 | €490,492 | €441,483 | -€49,010 | -10.0% |
| Stocks and contracts in progress | 3 | €37,298 | €26,031 | -€11,267 | -30.2% |
| Stocks | 30/36 | €37,298 | €26,031 | -€11,267 | -30.2% |
| Amounts receivable within one year | 40/41 | €53,938 | €176,870 | +€122,933 | +228% |
| Trade receivables | 40 | €41,989 | €158,739 | +€116,750 | +278% |
| Other amounts receivable | 41 | €11,949 | €18,131 | +€6,183 | +51.7% |
| Current investments | 50/53 | €260,000 | €79,880 | -€180,120 | -69.3% |
| Cash at bank and in hand | 54/58 | €129,240 | €140,950 | +€11,710 | +9.1% |
| Deferred charges and accrued income | 490/1 | €10,017 | €17,751 | +€7,735 | +77.2% |
| Total equity and liabilities | 10/49 | €515,868 | €460,206 | -€55,661 | -10.8% |
| Equity | 10/15 | €311,845 | €192,024 | -€119,821 | -38.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €305,645 | €185,824 | -€119,821 | -39.2% |
| Distributable reserves | 133 | €305,645 | €185,824 | -€119,821 | -39.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €204,023 | €268,182 | +€64,160 | +31.4% |
| Amounts payable within one year | 42/48 | €196,167 | €268,182 | +€72,016 | +36.7% |
| Financial debts | 43 | €447 | €185 | -€262 | -58.7% |
| Credit institutions | 430/8 | €447 | €185 | -€262 | -58.7% |
| Trade debts | 44 | €122,276 | €63,503 | -€58,773 | -48.1% |
| Suppliers | 440/4 | €122,276 | €63,503 | -€58,773 | -48.1% |
| Advances received on contracts in progress | 46 | €18,743 | €21,574 | +€2,831 | +15.1% |
| Taxes, remuneration and social security | 45 | €1,957 | €856 | -€1,101 | -56.3% |
| Taxes | 450/3 | €1,957 | €856 | -€1,101 | -56.3% |
| Other amounts payable | 47/48 | €52,744 | €182,065 | +€129,321 | +245% |
| Accrued charges and deferred income | 492/3 | €7,856 | €0 | -€7,856 | -100% |
| Non-recurring operating income | 76A | €287 | €919 | +€632 | +220% |
| Remuneration, social security and pensions | 62 | €1,778 | €579 | -€1,199 | -67.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,127 | €8,024 | -€1,103 | -12.1% |
| Other operating charges | 640/8 | €3,881 | €103 | -€3,778 | -97.3% |
| Non-recurring operating charges | 66A | €118 | €1,348 | +€1,230 | +1,046% |
| Gross operating margin | 9900 | €103,830 | €56,972 | -€46,858 | -45.1% |
| Operating profit (loss) | 9901 | €88,926 | €46,918 | -€42,008 | -47.2% |
| Financial income | 75/76B | €7,413 | €7,713 | +€300 | +4.1% |
| Recurring financial income | 75 | €7,413 | €7,713 | +€300 | +4.1% |
| Financial charges | 65/66B | €6,760 | €9,183 | +€2,423 | +35.8% |
| Recurring financial charges | 65 | €6,760 | €9,183 | +€2,423 | +35.8% |
| Profit (loss) for the period before taxes | 9903 | €89,579 | €45,448 | -€44,130 | -49.3% |
| Income taxes | 67/77 | €25,843 | €24,699 | -€1,144 | -4.4% |
| Profit (loss) for the period | 9904 | €63,736 | €20,750 | -€42,986 | -67.4% |
| Profit (loss) for the period to be appropriated | 9905 | €63,736 | €20,750 | -€42,986 | -67.4% |
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 24 October 2026 via checked.be.