Finad: 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.
Finad
Largest movements
- Receivables within one year +€10,160
up €10,160 (+10525.6%), from €97 to €10,257
- Current investments -€8,179
down €8,179 (-100.0%), from €8,179 to €0
- Debts after one year -€13,060
down €13,060 (-6.4%), from €204,533 to €191,472
of which Financial debts: -€13,060
- Profit (loss) carried forward +€7,893
up €7,893 (+27.1%), from -€29,104 to -€21,211
- Other debts +€7,890
up €7,890 (+3031.0%), from €260 to €8,150
- Current portion of long-term debt -€3,001
down €3,001 (-17.5%), from €17,126 to €14,125
- Depreciation -€25,066
down €25,066 (-68.2%), from €36,757 to €11,691
- Financial income +€23,268
up €23,268 (+1009.6%), from €2,305 to €25,572
- Other operating charges -€2,719
down €2,719 (-55.4%), from €4,912 to €2,192
- Gross operating margin +€516
up €516 (+7.8%), from €6,602 to €7,118
- Taxes +€148
up €148, from -€66 to €81
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 | €273,304 | €273,313 | +€9 | 0.0% |
| Fixed assets | 21/28 | €264,451 | €263,046 | -€1,405 | -0.5% |
| Tangible fixed assets | 22/27 | €248,523 | €248,932 | +€409 | +0.2% |
| Land and buildings | 22 | €248,230 | €248,786 | +€556 | +0.2% |
| Other tangible fixed assets | 26 | €293 | €147 | -€146 | -50.0% |
| Financial fixed assets | 28 | €15,928 | €14,114 | -€1,814 | -11.4% |
| Current assets | 29/58 | €8,853 | €10,267 | +€1,414 | +16.0% |
| Amounts receivable within one year | 40/41 | €97 | €10,257 | +€10,160 | +10525.6% |
| Other amounts receivable | 41 | €97 | €10,257 | +€10,160 | +10525.6% |
| Current investments | 50/53 | €8,179 | €0 | -€8,179 | -100.0% |
| Cash at bank and in hand | 54/58 | €519 | €5 | -€514 | -99.0% |
| Deferred charges and accrued income | 490/1 | €58 | €5 | -€54 | -91.7% |
| Total equity and liabilities | 10/49 | €273,304 | €273,313 | +€9 | 0.0% |
| Equity | 10/15 | €45,689 | €53,581 | +€7,893 | +17.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €56,192 | €56,192 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €56,192 | €56,192 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€29,104 | -€21,211 | +€7,893 | +27.1% |
| Amounts payable | 17/49 | €227,615 | €219,732 | -€7,884 | -3.5% |
| Amounts payable after more than one year | 17 | €204,533 | €191,472 | -€13,060 | -6.4% |
| Financial debts | 170/4 | €134,533 | €121,472 | -€13,060 | -9.7% |
| Other amounts payable | 178/9 | €70,000 | €70,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €17,490 | €23,261 | +€5,770 | +33.0% |
| Current portion of amounts payable after more than one year | 42 | €17,126 | €14,125 | -€3,001 | -17.5% |
| Trade debts | 44 | €104 | €986 | +€882 | +846.8% |
| Suppliers | 440/4 | €104 | €986 | +€882 | +846.8% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €260 | €8,150 | +€7,890 | +3031.0% |
| Accrued charges and deferred income | 492/3 | €5,593 | €4,999 | -€594 | -10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,757 | €11,691 | -€25,066 | -68.2% |
| Other operating charges | 640/8 | €4,912 | €2,192 | -€2,719 | -55.4% |
| Gross operating margin | 9900 | €6,602 | €7,118 | +€516 | +7.8% |
| Operating profit (loss) | 9901 | -€35,066 | -€6,765 | +€28,301 | +80.7% |
| Financial income | 75/76B | €2,305 | €25,572 | +€23,268 | +1009.6% |
| Recurring financial income | 75 | €2,305 | €25,572 | +€23,268 | +1009.6% |
| Financial charges | 65/66B | €10,691 | €10,833 | +€142 | +1.3% |
| Recurring financial charges | 65 | €10,691 | €10,833 | +€142 | +1.3% |
| Profit (loss) for the period before taxes | 9903 | -€43,453 | €7,974 | +€51,427 | |
| Income taxes | 67/77 | -€66 | €81 | +€148 | |
| Profit (loss) for the period | 9904 | -€43,386 | €7,893 | +€51,279 | |
| Profit (loss) for the period to be appropriated | 9905 | -€43,386 | €7,893 | +€51,279 |
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.