FINAKUS: 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.
FINAKUS
Largest movements
- Tangible fixed assets -€80,764
down €80,764 (-7.9%), from €1.0m to €944,388
of which Land and buildings: -€64,207
- Current investments +€31,291
up €31,291 (+20.5%), from €152,672 to €183,963
- Receivables within one year -€26,185
down €26,185 (-31.8%), from €82,445 to €56,260
of which Trade receivables: -€25,825
- Cash +€19,657
up €19,657 (+24.8%), from €79,409 to €99,066
mainly Net result for the year (+€112,414) and Depreciation (+€84,778)
- Debts after one year -€52,237
down €52,237 (-10.2%), from €510,390 to €458,153
- Current portion of long-term debt -€25,273
down €25,273 (-32.6%), from €77,509 to €52,237
- Gross operating margin +€25,680
up €25,680 (+10.5%), from €243,560 to €269,240
- Taxes +€8,487
up €8,487 (+21.8%), from €38,859 to €47,346
- Financial charges -€3,558
down €3,558 (-13.8%), from €25,807 to €22,249
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 | €1,347,760 | €1,292,287 | -€55,474 | -4.1% |
| Fixed assets | 21/28 | €1,025,152 | €944,388 | -€80,764 | -7.9% |
| Tangible fixed assets | 22/27 | €1,025,152 | €944,388 | -€80,764 | -7.9% |
| Land and buildings | 22 | €944,765 | €880,558 | -€64,207 | -6.8% |
| Plant, machinery and equipment | 23 | €1,581 | €1,010 | -€571 | -36.1% |
| Furniture and vehicles | 24 | €54,449 | €43,894 | -€10,555 | -19.4% |
| Other tangible fixed assets | 26 | €24,356 | €18,925 | -€5,431 | -22.3% |
| Current assets | 29/58 | €322,609 | €347,899 | +€25,290 | +7.8% |
| Amounts receivable within one year | 40/41 | €82,445 | €56,260 | -€26,185 | -31.8% |
| Trade receivables | 40 | €81,468 | €55,643 | -€25,825 | -31.7% |
| Other amounts receivable | 41 | €977 | €617 | -€360 | -36.9% |
| Current investments | 50/53 | €152,672 | €183,963 | +€31,291 | +20.5% |
| Cash at bank and in hand | 54/58 | €79,409 | €99,066 | +€19,657 | +24.8% |
| Deferred charges and accrued income | 490/1 | €8,083 | €8,610 | +€527 | +6.5% |
| Total equity and liabilities | 10/49 | €1,347,760 | €1,292,287 | -€55,474 | -4.1% |
| Equity | 10/15 | €624,866 | €637,281 | +€12,414 | +2.0% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €604,406 | €616,821 | +€12,414 | +2.1% |
| Tax-exempt reserves | 132 | €3,607 | €3,607 | = | 0.0% |
| Distributable reserves | 133 | €600,799 | €613,214 | +€12,414 | +2.1% |
| Amounts payable | 17/49 | €722,894 | €655,006 | -€67,888 | -9.4% |
| Amounts payable after more than one year | 17 | €510,390 | €458,153 | -€52,237 | -10.2% |
| Financial debts | 170/4 | €510,390 | €458,153 | -€52,237 | -10.2% |
| Amounts payable within one year | 42/48 | €212,014 | €196,348 | -€15,666 | -7.4% |
| Current portion of amounts payable after more than one year | 42 | €77,509 | €52,237 | -€25,273 | -32.6% |
| Trade debts | 44 | €3,400 | €3,727 | +€327 | +9.6% |
| Suppliers | 440/4 | €3,400 | €3,727 | +€327 | +9.6% |
| Taxes, remuneration and social security | 45 | €27,545 | €36,894 | +€9,350 | +33.9% |
| Taxes | 450/3 | €27,545 | €36,894 | +€9,350 | +33.9% |
| Other amounts payable | 47/48 | €103,560 | €103,490 | -€70 | -0.1% |
| Accrued charges and deferred income | 492/3 | €490 | €505 | +€15 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,136 | €84,778 | +€2,642 | +3.2% |
| Other operating charges | 640/8 | €4,347 | €4,863 | +€517 | +11.9% |
| Gross operating margin | 9900 | €243,560 | €269,240 | +€25,680 | +10.5% |
| Operating profit (loss) | 9901 | €157,077 | €179,598 | +€22,521 | +14.3% |
| Financial income | 75/76B | €1,847 | €2,411 | +€563 | +30.5% |
| Recurring financial income | 75 | €1,847 | €2,411 | +€563 | +30.5% |
| Financial charges | 65/66B | €25,807 | €22,249 | -€3,558 | -13.8% |
| Recurring financial charges | 65 | €25,807 | €22,249 | -€3,558 | -13.8% |
| Profit (loss) for the period before taxes | 9903 | €133,118 | €159,760 | +€26,643 | +20.0% |
| Income taxes | 67/77 | €38,859 | €47,346 | +€8,487 | +21.8% |
| Profit (loss) for the period | 9904 | €94,259 | €112,414 | +€18,155 | +19.3% |
| Profit (loss) for the period to be appropriated | 9905 | €94,259 | €112,414 | +€18,155 | +19.3% |
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.