FINACAP: 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.
FINACAP
Largest movements
- Receivables within one year +€152,805
up €152,805 (+39207.9%), from €390 to €153,195
- Cash +€99,319
up €99,319 (+13844.5%), from €717 to €100,036
mainly Net result for the year (+€227,055) and Tax, wage and social debts (+€120,059)
- Tangible fixed assets +€48,540
up €48,540 (+6.8%), from €713,803 to €762,343
of which Plant, machinery and equipment: +€56,020
- Deferred charges and accrued income -€31,397
down €31,397 (-66.6%), from €47,152 to €15,754
- Profit (loss) carried forward +€121,343
up €121,343 (+146.8%), from €82,653 to €203,997
- Tax, wage and social debts +€120,059
up €120,059 (+371.8%), from €32,296 to €152,354
- Reserves +€105,712
up €105,712 (+25.2%), from €419,265 to €524,976
of which Distributable reserves: +€200,000
- Debts after one year -€66,454
down €66,454 (-29.7%), from €223,674 to €157,220
of which Financial debts: -€59,554
- Provisions -€31,429
down €31,429 (-22.5%), from €139,755 to €108,325
- Gross operating margin +€341,927
up €341,927 (+799.2%), from €42,785 to €384,712
- Taxes +€149,771
up €149,771 (+7377.2%), from €2,030 to €151,802
- Other operating charges +€8,944
up €8,944 (+40.1%), from €22,322 to €31,267
- Depreciation -€4,418
down €4,418 (-27.4%), from €16,146 to €11,728
- Financial income +€4,123
up €4,123 (+31.7%), from €12,994 to €17,117
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 | €1,221,184 | €1,490,451 | +€269,267 | +22.0% |
| Fixed assets | 21/28 | €713,803 | €762,343 | +€48,540 | +6.8% |
| Tangible fixed assets | 22/27 | €713,803 | €762,343 | +€48,540 | +6.8% |
| Land and buildings | 22 | €585,421 | €580,037 | -€5,384 | -0.9% |
| Plant, machinery and equipment | 23 | €126,286 | €182,307 | +€56,020 | +44.4% |
| Furniture and vehicles | 24 | €2,096 | - | -€2,096 | |
| Current assets | 29/58 | €507,381 | €728,108 | +€220,726 | +43.5% |
| Amounts receivable after more than one year | 29 | €459,122 | €459,122 | = | 0.0% |
| Other amounts receivable | 291 | €459,122 | €459,122 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €390 | €153,195 | +€152,805 | +39207.9% |
| Other amounts receivable | 41 | €390 | €153,195 | +€152,805 | +39207.9% |
| Cash at bank and in hand | 54/58 | €717 | €100,036 | +€99,319 | +13844.5% |
| Deferred charges and accrued income | 490/1 | €47,152 | €15,754 | -€31,397 | -66.6% |
| Total equity and liabilities | 10/49 | €1,221,184 | €1,490,451 | +€269,267 | +22.0% |
| Equity | 10/15 | €667,016 | €894,072 | +€227,055 | +34.0% |
| Contributions | 10/11 | €165,099 | €165,099 | = | 0.0% |
| Reserves | 13 | €419,265 | €524,976 | +€105,712 | +25.2% |
| Tax-exempt reserves | 132 | €419,265 | €324,976 | -€94,288 | -22.5% |
| Distributable reserves | 133 | - | €200,000 | +€200,000 | |
| Profit (loss) carried forward | 14 | €82,653 | €203,997 | +€121,343 | +146.8% |
| Provisions and deferred taxes | 16 | €139,755 | €108,325 | -€31,429 | -22.5% |
| Deferred taxes | 168 | €139,755 | €108,325 | -€31,429 | -22.5% |
| Amounts payable | 17/49 | €414,413 | €488,054 | +€73,641 | +17.8% |
| Amounts payable after more than one year | 17 | €223,674 | €157,220 | -€66,454 | -29.7% |
| Financial debts | 170/4 | €208,374 | €148,820 | -€59,554 | -28.6% |
| Other amounts payable | 178/9 | €15,300 | €8,400 | -€6,900 | -45.1% |
| Amounts payable within one year | 42/48 | €190,739 | €329,284 | +€138,545 | +72.6% |
| Current portion of amounts payable after more than one year | 42 | €58,673 | €60,220 | +€1,547 | +2.6% |
| Financial debts | 43 | €17,335 | €16,835 | -€500 | -2.9% |
| Credit institutions | 430/8 | €17,335 | €16,835 | -€500 | -2.9% |
| Trade debts | 44 | €76,989 | €94,429 | +€17,440 | +22.7% |
| Suppliers | 440/4 | €76,989 | €94,429 | +€17,440 | +22.7% |
| Taxes, remuneration and social security | 45 | €32,296 | €152,354 | +€120,059 | +371.8% |
| Taxes | 450/3 | €32,296 | €152,354 | +€120,059 | +371.8% |
| Other amounts payable | 47/48 | €5,446 | €5,446 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €1,550 | +€1,550 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,146 | €11,728 | -€4,418 | -27.4% |
| Other operating charges | 640/8 | €22,322 | €31,267 | +€8,944 | +40.1% |
| Gross operating margin | 9900 | €42,785 | €384,712 | +€341,927 | +799.2% |
| Operating profit (loss) | 9901 | €4,317 | €341,718 | +€337,401 | +7815.2% |
| Financial income | 75/76B | €12,994 | €17,117 | +€4,123 | +31.7% |
| Recurring financial income | 75 | €12,994 | €17,117 | +€4,123 | +31.7% |
| Financial charges | 65/66B | €14,649 | €11,407 | -€3,242 | -22.1% |
| Recurring financial charges | 65 | €14,649 | €11,407 | -€3,242 | -22.1% |
| Profit (loss) for the period before taxes | 9903 | €2,662 | €347,427 | +€344,766 | +12953.4% |
| Transfer from deferred taxes | 780 | €2,137 | €139,755 | +€137,618 | +6439.7% |
| Transfer to deferred taxes | 680 | - | €108,325 | +€108,325 | |
| Income taxes | 67/77 | €2,030 | €151,802 | +€149,771 | +7377.2% |
| Profit (loss) for the period | 9904 | €2,768 | €227,055 | +€224,287 | +8101.6% |
| Transfer from tax-exempt reserves | 789 | €6,411 | €419,265 | +€412,854 | +6439.7% |
| Transfer to tax-exempt reserves | 689 | - | €324,976 | +€324,976 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,180 | €321,343 | +€312,164 | +3400.7% |
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 8 October 2026 via checked.be.