FINALE: 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.
FINALE
Largest movements
- Tangible fixed assets -€40,559
down €40,559 (-6.1%), from €666,978 to €626,419
of which Land and buildings: -€40,913
- Cash -€20,227
down €20,227 (-5.7%), from €352,434 to €332,207
mainly Other debts (-€58,488) and Investment in fixed assets (net) (-€17,574)
- Other debts -€58,488
down €58,488 (-28.4%), from €205,616 to €147,128
- Financial income -€20,728
down €20,728 (-99.8%), from €20,770 to €42
- Gross operating margin +€15,680
up €15,680 (+30.1%), from €52,081 to €67,761
- Financial charges -€13,954
down €13,954 (-100.0%), from €13,954 to €0
- Depreciation +€3,371
up €3,371 (+6.2%), from €54,763 to €58,133
- Other operating charges +€1,244
up €1,244 (+9.8%), from €12,647 to €13,891
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 | €1,024,559 | €962,748 | -€61,812 | -6.0% |
| Fixed assets | 21/28 | €666,978 | €626,419 | -€40,559 | -6.1% |
| Tangible fixed assets | 22/27 | €666,978 | €626,419 | -€40,559 | -6.1% |
| Land and buildings | 22 | €658,474 | €617,561 | -€40,913 | -6.2% |
| Furniture and vehicles | 24 | €8,504 | €8,858 | +€354 | +4.2% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €357,581 | €336,329 | -€21,252 | -5.9% |
| Amounts receivable within one year | 40/41 | €3,522 | €2,000 | -€1,522 | -43.2% |
| Trade receivables | 40 | €1,522 | €0 | -€1,522 | -100.0% |
| Other amounts receivable | 41 | €2,000 | €2,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €352,434 | €332,207 | -€20,227 | -5.7% |
| Deferred charges and accrued income | 490/1 | €1,625 | €2,122 | +€497 | +30.6% |
| Total equity and liabilities | 10/49 | €1,024,559 | €962,748 | -€61,812 | -6.0% |
| Equity | 10/15 | €818,603 | €814,381 | -€4,222 | -0.5% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €69,697 | €69,697 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €63,500 | €63,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €686,932 | €682,710 | -€4,222 | -0.6% |
| Amounts payable | 17/49 | €205,957 | €148,367 | -€57,590 | -28.0% |
| Amounts payable within one year | 42/48 | €205,957 | €148,367 | -€57,590 | -28.0% |
| Trade debts | 44 | €341 | €1,238 | +€898 | +263.7% |
| Suppliers | 440/4 | €341 | €1,238 | +€898 | +263.7% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €205,616 | €147,128 | -€58,488 | -28.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,763 | €58,133 | +€3,371 | +6.2% |
| Other operating charges | 640/8 | €12,647 | €13,891 | +€1,244 | +9.8% |
| Gross operating margin | 9900 | €52,081 | €67,761 | +€15,680 | +30.1% |
| Operating profit (loss) | 9901 | -€15,329 | -€4,263 | +€11,066 | +72.2% |
| Financial income | 75/76B | €20,770 | €42 | -€20,728 | -99.8% |
| Recurring financial income | 75 | €20,770 | €42 | -€20,728 | -99.8% |
| Financial charges | 65/66B | €13,954 | €0 | -€13,954 | -100.0% |
| Recurring financial charges | 65 | €13,954 | €0 | -€13,954 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | -€8,513 | -€4,222 | +€4,291 | +50.4% |
| Profit (loss) for the period | 9904 | -€8,513 | -€4,222 | +€4,291 | +50.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,513 | -€4,222 | +€4,291 | +50.4% |
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 1 October 2026 via checked.be.