FIN.AD.: what changed
Two fiscal 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.
FIN.AD.
Largest movements
- Cash -€13,827
down €13,827 (-6.3%), from €219,245 to €205,418
mainly Contributions, distributions and other (-€100,000) and Debts after one year (-€21,803)
- Intangible fixed assets -€13,000
down €13,000 (-33.3%), from €39,001 to €26,001
- Tangible fixed assets -€11,209
down €11,209 (-16.5%), from €67,994 to €56,785
of which Furniture and vehicles: -€8,668
- Receivables within one year +€4,882
up €4,882 (+14.1%), from €34,643 to €39,525
- Profit (loss) carried forward -€46,873
down €46,873 (-39.0%), from €120,258 to €73,385
- Short-term financial debts +€21,804
new in 2025: €21,804
- Debts after one year -€21,803
down €21,803 (-40.4%), from €54,020 to €32,217
- Current portion of long-term debt -€21,222
no longer reported in 2025 (was €21,222)
- Reserves +€20,258
up €20,258 (+19.5%), from €104,014 to €124,272
of which Distributable reserves: +€20,258
- Staff costs +€27,300
up €27,300 (+83.8%), from €32,591 to €59,891
- Taxes +€14,757
up €14,757 (+57.6%), from €25,617 to €40,374
- Purchases and services -€6,531
down €6,531 (-4.5%), from €146,272 to €139,741
- Gross operating margin -€4,738
down €4,738 (-2.3%), from €205,233 to €200,495
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 | €360,883 | €327,729 | -€33,154 | -9.2% |
| Fixed assets | 21/28 | €106,995 | €82,786 | -€24,209 | -22.6% |
| Intangible fixed assets | 21 | €39,001 | €26,001 | -€13,000 | -33.3% |
| Tangible fixed assets | 22/27 | €67,994 | €56,785 | -€11,209 | -16.5% |
| Land and buildings | 22 | €33,033 | €30,492 | -€2,541 | -7.7% |
| Furniture and vehicles | 24 | €34,961 | €26,293 | -€8,668 | -24.8% |
| Current assets | 29/58 | €253,888 | €244,943 | -€8,945 | -3.5% |
| Amounts receivable within one year | 40/41 | €34,643 | €39,525 | +€4,882 | +14.1% |
| Other amounts receivable | 41 | €34,643 | €39,525 | +€4,882 | +14.1% |
| Cash at bank and in hand | 54/58 | €219,245 | €205,418 | -€13,827 | -6.3% |
| Total equity and liabilities | 10/49 | €360,883 | €327,729 | -€33,154 | -9.2% |
| Equity | 10/15 | €242,872 | €216,257 | -€26,615 | -11.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €104,014 | €124,272 | +€20,258 | +19.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €102,154 | €122,412 | +€20,258 | +19.8% |
| Profit (loss) carried forward | 14 | €120,258 | €73,385 | -€46,873 | -39.0% |
| Amounts payable | 17/49 | €118,011 | €111,472 | -€6,539 | -5.5% |
| Amounts payable after more than one year | 17 | €54,020 | €32,217 | -€21,803 | -40.4% |
| Financial debts | 170/4 | €54,020 | €32,217 | -€21,803 | -40.4% |
| Amounts payable within one year | 42/48 | €63,941 | €79,205 | +€15,264 | +23.9% |
| Current portion of amounts payable after more than one year | 42 | €21,222 | - | -€21,222 | |
| Financial debts | 43 | - | €21,804 | +€21,804 | |
| Credit institutions | 430/8 | - | €21,804 | +€21,804 | |
| Trade debts | 44 | €42,719 | €57,401 | +€14,682 | +34.4% |
| Suppliers | 440/4 | €42,719 | €57,401 | +€14,682 | +34.4% |
| Accrued charges and deferred income | 492/3 | €50 | €50 | = | 0.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €146,272 | €139,741 | -€6,531 | -4.5% |
| Remuneration, social security and pensions | 62 | €32,591 | €59,891 | +€27,300 | +83.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,918 | €24,209 | +€291 | +1.2% |
| Other operating charges | 640/8 | €387 | €700 | +€313 | +80.9% |
| Gross operating margin | 9900 | €205,233 | €200,495 | -€4,738 | -2.3% |
| Operating profit (loss) | 9901 | €148,337 | €115,695 | -€32,642 | -22.0% |
| Financial charges | 65/66B | €2,462 | €1,936 | -€526 | -21.4% |
| Recurring financial charges | 65 | €2,462 | €1,936 | -€526 | -21.4% |
| Profit (loss) for the period before taxes | 9903 | €145,875 | €113,759 | -€32,116 | -22.0% |
| Income taxes | 67/77 | €25,617 | €40,374 | +€14,757 | +57.6% |
| Profit (loss) for the period | 9904 | €120,258 | €73,385 | -€46,873 | -39.0% |
| Profit (loss) for the period to be appropriated | 9905 | €120,258 | €73,385 | -€46,873 | -39.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.