FINADEL: 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.
FINADEL
Largest movements
- Current investments -€178,000
no longer reported in 2025 (was €178,000)
- Receivables within one year -€5,660
down €5,660 (-20.6%), from €27,456 to €21,796
of which Other amounts receivable: -€11,859
- Cash -€3,792
down €3,792 (-9.2%), from €41,271 to €37,478
mainly Other debts (-€175,681) and Contributions, distributions and other (-€80,000)
- Other debts -€175,681
down €175,681 (-83.0%), from €211,765 to €36,083
- Profit (loss) carried forward -€15,371
down €15,371 (-50.4%), from €30,485 to €15,113
- Gross operating margin +€8,952
up €8,952 (+11.6%), from €77,088 to €86,040
- Taxes +€8,112
up €8,112 (+51.1%), from €15,891 to €24,003
- Financial income +€2,123
up €2,123 (+59.1%), from €3,591 to €5,715
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 | €252,242 | €63,844 | -€188,397 | -74.7% |
| Fixed assets | 21/28 | €4,259 | €3,307 | -€951 | -22.3% |
| Tangible fixed assets | 22/27 | €4,259 | €3,307 | -€951 | -22.3% |
| Furniture and vehicles | 24 | €4,259 | €3,307 | -€951 | -22.3% |
| Current assets | 29/58 | €247,983 | €60,537 | -€187,446 | -75.6% |
| Amounts receivable within one year | 40/41 | €27,456 | €21,796 | -€5,660 | -20.6% |
| Trade receivables | 40 | €13,843 | €20,041 | +€6,199 | +44.8% |
| Other amounts receivable | 41 | €13,614 | €1,755 | -€11,859 | -87.1% |
| Current investments | 50/53 | €178,000 | - | -€178,000 | |
| Cash at bank and in hand | 54/58 | €41,271 | €37,478 | -€3,792 | -9.2% |
| Deferred charges and accrued income | 490/1 | €1,256 | €1,262 | +€7 | +0.5% |
| Total equity and liabilities | 10/49 | €252,242 | €63,844 | -€188,397 | -74.7% |
| Equity | 10/15 | €33,485 | €18,113 | -€15,371 | -45.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,485 | €15,113 | -€15,371 | -50.4% |
| Amounts payable | 17/49 | €218,757 | €45,731 | -€173,026 | -79.1% |
| Amounts payable within one year | 42/48 | €218,757 | €45,731 | -€173,026 | -79.1% |
| Financial debts | 43 | - | €450 | +€450 | |
| Credit institutions | 430/8 | - | €450 | +€450 | |
| Trade debts | 44 | €69 | €804 | +€735 | +1065.7% |
| Suppliers | 440/4 | €69 | €804 | +€735 | +1065.7% |
| Taxes, remuneration and social security | 45 | €6,923 | €8,393 | +€1,470 | +21.2% |
| Taxes | 450/3 | €6,923 | €8,393 | +€1,470 | +21.2% |
| Other amounts payable | 47/48 | €211,765 | €36,083 | -€175,681 | -83.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,074 | €2,461 | +€387 | +18.7% |
| Other operating charges | 640/8 | €545 | €559 | +€14 | +2.6% |
| Gross operating margin | 9900 | €77,088 | €86,040 | +€8,952 | +11.6% |
| Operating profit (loss) | 9901 | €74,469 | €83,019 | +€8,550 | +11.5% |
| Financial income | 75/76B | €3,591 | €5,715 | +€2,123 | +59.1% |
| Recurring financial income | 75 | €3,591 | €5,715 | +€2,123 | +59.1% |
| Financial charges | 65/66B | €55 | €102 | +€47 | +85.4% |
| Recurring financial charges | 65 | €55 | €102 | +€47 | +85.4% |
| Profit (loss) for the period before taxes | 9903 | €78,005 | €88,632 | +€10,627 | +13.6% |
| Income taxes | 67/77 | €15,891 | €24,003 | +€8,112 | +51.1% |
| Profit (loss) for the period | 9904 | €62,114 | €64,629 | +€2,515 | +4.0% |
| Profit (loss) for the period to be appropriated | 9905 | €62,114 | €64,629 | +€2,515 | +4.0% |
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.