FIN FORWARD: 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.
FIN FORWARD
Largest movements
- Receivables within one year -€223,795
down €223,795 (-31.5%), from €711,507 to €487,712
of which Trade receivables: -€256,619
- Cash +€34,259
up €34,259 (+21.5%), from €159,640 to €193,899
mainly Receivables within one year (+€223,795) and Debts after one year (+€126,665)
- Short-term financial debts -€204,455
down €204,455 (-44.9%), from €455,344 to €250,890
- Trade debts -€132,583
down €132,583 (-40.4%), from €328,335 to €195,752
- Debts after one year +€126,665
up €126,665 (+82.4%), from €153,653 to €280,319
of which Other amounts payable: +€250,000
- Tax, wage and social debts -€61,648
down €61,648 (-13.0%), from €475,177 to €413,530
of which Remuneration and social security: -€106,849
- Other debts +€50,000
new in 2025: €50,000
- Staff costs -€2.0m
down €2.0m (-62.5%), from €3.2m to €1.2m
- Gross operating margin -€2.0m
down €2.0m (-60.8%), from €3.3m to €1.3m
From the 30-06-2025 result to the 31-12-2025 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 30-06-2025 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 30-06-2025 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,904,441 | €2,716,000 | -€188,441 | -6.5% |
| Fixed assets | 21/28 | €1,960,024 | €1,946,659 | -€13,364 | -0.7% |
| Intangible fixed assets | 21 | €1,808,724 | €1,808,724 | = | 0.0% |
| Tangible fixed assets | 22/27 | €148,300 | €134,935 | -€13,364 | -9.0% |
| Plant, machinery and equipment | 23 | €6,111 | €4,747 | -€1,364 | -22.3% |
| Furniture and vehicles | 24 | €38,880 | €35,848 | -€3,032 | -7.8% |
| Other tangible fixed assets | 26 | €103,308 | €94,341 | -€8,968 | -8.7% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €944,418 | €769,340 | -€175,077 | -18.5% |
| Amounts receivable within one year | 40/41 | €711,507 | €487,712 | -€223,795 | -31.5% |
| Trade receivables | 40 | €663,046 | €406,426 | -€256,619 | -38.7% |
| Other amounts receivable | 41 | €48,461 | €81,286 | +€32,825 | +67.7% |
| Cash at bank and in hand | 54/58 | €159,640 | €193,899 | +€34,259 | +21.5% |
| Deferred charges and accrued income | 490/1 | €73,271 | €87,730 | +€14,459 | +19.7% |
| Total equity and liabilities | 10/49 | €2,904,441 | €2,716,000 | -€188,441 | -6.5% |
| Equity | 10/15 | €1,246,682 | €1,279,220 | +€32,538 | +2.6% |
| Contributions | 10/11 | €378,000 | €378,000 | = | 0.0% |
| Reserves | 13 | €868,682 | €901,220 | +€32,538 | +3.7% |
| Distributable reserves | 133 | €868,682 | €901,220 | +€32,538 | +3.7% |
| Amounts payable | 17/49 | €1,657,759 | €1,436,779 | -€220,980 | -13.3% |
| Amounts payable after more than one year | 17 | €153,653 | €280,319 | +€126,665 | +82.4% |
| Financial debts | 170/4 | €153,653 | €30,319 | -€123,335 | -80.3% |
| Other amounts payable | 178/9 | - | €250,000 | +€250,000 | |
| Amounts payable within one year | 42/48 | €1,502,867 | €1,155,951 | -€346,916 | -23.1% |
| Current portion of amounts payable after more than one year | 42 | €244,010 | €245,779 | +€1,769 | +0.7% |
| Financial debts | 43 | €455,344 | €250,890 | -€204,455 | -44.9% |
| Credit institutions | 430/8 | €455,344 | €250,890 | -€204,455 | -44.9% |
| Trade debts | 44 | €328,335 | €195,752 | -€132,583 | -40.4% |
| Suppliers | 440/4 | €328,335 | €195,752 | -€132,583 | -40.4% |
| Taxes, remuneration and social security | 45 | €475,177 | €413,530 | -€61,648 | -13.0% |
| Taxes | 450/3 | €54,932 | €100,134 | +€45,201 | +82.3% |
| Remuneration and social security | 454/9 | €420,245 | €313,396 | -€106,849 | -25.4% |
| Other amounts payable | 47/48 | - | €50,000 | +€50,000 | |
| Accrued charges and deferred income | 492/3 | €1,239 | €510 | -€729 | -58.9% |
| Remuneration, social security and pensions | 62 | €3,210,140 | €1,203,150 | -€2.0m | -62.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,504 | €13,364 | -€22,140 | -62.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €6,998 | +€6,998 | |
| Other operating charges | 640/8 | €5,968 | €998 | -€4,969 | -83.3% |
| Non-recurring operating charges | 66A | €97,641 | - | -€97,641 | |
| Gross operating margin | 9900 | €3,294,296 | €1,291,487 | -€2.0m | -60.8% |
| Operating profit (loss) | 9901 | -€54,958 | €66,976 | +€121,934 | |
| Financial income | 75/76B | €7,176 | €2,156 | -€5,020 | -70.0% |
| Recurring financial income | 75 | €7,176 | €2,156 | -€5,020 | -70.0% |
| Financial charges | 65/66B | €50,716 | €31,685 | -€19,031 | -37.5% |
| Recurring financial charges | 65 | €50,716 | €31,685 | -€19,031 | -37.5% |
| Profit (loss) for the period before taxes | 9903 | -€98,498 | €37,447 | +€135,945 | |
| Income taxes | 67/77 | €10,594 | €4,909 | -€5,686 | -53.7% |
| Profit (loss) for the period | 9904 | -€109,092 | €32,538 | +€141,631 | |
| Profit (loss) for the period to be appropriated | 9905 | -€109,092 | €32,538 | +€141,631 |
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.