FINACIBEL: 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.
FINACIBEL
Largest movements
- Cash +€329,125
up €329,125 (+53.9%), from €610,695 to €939,820
mainly Depreciation (+€253,215) and Net result for the year (+€225,385)
- Tangible fixed assets -€217,845
down €217,845 (-12.2%), from €1.8m to €1.6m
- Reserves +€225,000
up €225,000 (+55.0%), from €408,864 to €633,864
of which Distributable reserves: +€225,000
- Debts after one year -€134,981
down €134,981 (-91.3%), from €147,821 to €12,840
- Depreciation -€92,733
down €92,733 (-26.8%), from €345,948 to €253,215
- Gross operating margin +€72,231
up €72,231 (+11.8%), from €611,174 to €683,405
- Taxes +€62,152
up €62,152 (+144.2%), from €43,099 to €105,250
- Financial charges -€14,215
down €14,215 (-43.9%), from €32,374 to €18,159
- Staff costs -€11,556
no longer reported in 2025 (was €11,556)
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 | €4,062,680 | €4,151,981 | +€89,300 | +2.2% |
| Fixed assets | 21/28 | €1,784,939 | €1,567,094 | -€217,845 | -12.2% |
| Tangible fixed assets | 22/27 | €1,784,897 | €1,567,052 | -€217,845 | -12.2% |
| Land and buildings | 22 | €1,784,897 | €1,567,052 | -€217,845 | -12.2% |
| Financial fixed assets | 28 | €42 | €42 | = | 0.0% |
| Current assets | 29/58 | €2,277,741 | €2,584,886 | +€307,145 | +13.5% |
| Amounts receivable within one year | 40/41 | €10,524 | €682 | -€9,842 | -93.5% |
| Other amounts receivable | 41 | €10,524 | €682 | -€9,842 | -93.5% |
| Current investments | 50/53 | €1,638,235 | €1,638,235 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €610,695 | €939,820 | +€329,125 | +53.9% |
| Deferred charges and accrued income | 490/1 | €18,288 | €6,150 | -€12,138 | -66.4% |
| Total equity and liabilities | 10/49 | €4,062,680 | €4,151,981 | +€89,300 | +2.2% |
| Equity | 10/15 | €3,180,639 | €3,406,024 | +€225,385 | +7.1% |
| Contributions | 10/11 | €2,190,141 | €2,190,141 | = | 0.0% |
| Capital | 10 | €2,190,141 | €2,190,141 | = | 0.0% |
| Issued capital | 100 | €2,190,141 | €2,190,141 | = | 0.0% |
| Reserves | 13 | €408,864 | €633,864 | +€225,000 | +55.0% |
| Non-distributable reserves | 130/1 | €219,014 | €219,014 | = | 0.0% |
| Legal reserve | 130 | €219,014 | €219,014 | = | 0.0% |
| Distributable reserves | 133 | €189,850 | €414,850 | +€225,000 | +118.5% |
| Profit (loss) carried forward | 14 | €581,634 | €582,019 | +€385 | +0.1% |
| Amounts payable | 17/49 | €882,041 | €745,956 | -€136,085 | -15.4% |
| Amounts payable after more than one year | 17 | €147,821 | €12,840 | -€134,981 | -91.3% |
| Other amounts payable | 178/9 | €147,821 | €12,840 | -€134,981 | -91.3% |
| Amounts payable within one year | 42/48 | €710,423 | €711,834 | +€1,410 | +0.2% |
| Trade debts | 44 | €32,897 | €1,228 | -€31,669 | -96.3% |
| Suppliers | 440/4 | €32,897 | €1,228 | -€31,669 | -96.3% |
| Taxes, remuneration and social security | 45 | €866 | €33,946 | +€33,079 | +3817.8% |
| Taxes | 450/3 | - | €33,946 | +€33,946 | |
| Remuneration and social security | 454/9 | €866 | - | -€866 | |
| Other amounts payable | 47/48 | €676,660 | €676,660 | +€0 | 0.0% |
| Accrued charges and deferred income | 492/3 | €23,797 | €21,283 | -€2,514 | -10.6% |
| Non-recurring operating income | 76A | - | €133,881 | +€133,881 | |
| Remuneration, social security and pensions | 62 | €11,556 | - | -€11,556 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €345,948 | €253,215 | -€92,733 | -26.8% |
| Other operating charges | 640/8 | €87,644 | €85,458 | -€2,186 | -2.5% |
| Gross operating margin | 9900 | €611,174 | €683,405 | +€72,231 | +11.8% |
| Operating profit (loss) | 9901 | €166,026 | €344,731 | +€178,706 | +107.6% |
| Financial income | 75/76B | €10,592 | €4,063 | -€6,529 | -61.6% |
| Recurring financial income | 75 | €10,592 | €4,063 | -€6,529 | -61.6% |
| Financial charges | 65/66B | €32,374 | €18,159 | -€14,215 | -43.9% |
| Recurring financial charges | 65 | €32,374 | €18,159 | -€14,215 | -43.9% |
| Profit (loss) for the period before taxes | 9903 | €144,244 | €330,635 | +€186,392 | +129.2% |
| Income taxes | 67/77 | €43,099 | €105,250 | +€62,152 | +144.2% |
| Profit (loss) for the period | 9904 | €101,145 | €225,385 | +€124,240 | +122.8% |
| Profit (loss) for the period to be appropriated | 9905 | €101,145 | €225,385 | +€124,240 | +122.8% |
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 10 October 2026 via checked.be.