FINANCE COMPANY: what changed
FINANCE COMPANY
Largest movements
- Cash +€121,424
up €121,424 (+563%), from €21,566 to €142,990
mainly Short-term financial debts (+€216,000) and Investment in fixed assets (net) (+€85,480)
- Tangible fixed assets -€99,884
down €99,884 (-19.2%), from €521,236 to €421,352
of which Land and buildings: -€86,299
- Receivables within one year +€32,436
up €32,436 (+3,588%), from €904 to €33,340
- Debts after one year -€216,000
no longer reported in 2025 (was €216,000)
- Short-term financial debts +€216,000
new in 2025: €216,000
- Profit (loss) carried forward +€51,537
up €51,537, from -€22,845 to €28,692
- Tax, wage and social debts +€12,562
up €12,562 (+308%), from €4,076 to €16,638
- Other debts -€9,100
down €9,100 (-2.8%), from €328,952 to €319,852
- Gross operating margin +€48,521
up €48,521 (+105%), from €46,419 to €94,940
- Taxes +€12,562
up €12,562 (+308%), from €4,076 to €16,638
- Financial charges -€1,666
down €1,666 (-12.7%), from €13,098 to €11,431
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €543,706 | €597,984 | +€54,278 | +10.0% |
| Fixed assets | 21/28 | €521,236 | €421,352 | -€99,884 | -19.2% |
| Tangible fixed assets | 22/27 | €521,236 | €421,352 | -€99,884 | -19.2% |
| Land and buildings | 22 | €491,149 | €404,850 | -€86,299 | -17.6% |
| Furniture and vehicles | 24 | €30,087 | €16,502 | -€13,586 | -45.2% |
| Current assets | 29/58 | €22,470 | €176,632 | +€154,162 | +686% |
| Amounts receivable within one year | 40/41 | €904 | €33,340 | +€32,436 | +3,588% |
| Other amounts receivable | 41 | €904 | €33,340 | +€32,436 | +3,588% |
| Cash at bank and in hand | 54/58 | €21,566 | €142,990 | +€121,424 | +563% |
| Deferred charges and accrued income | 490/1 | - | €302 | +€302 | |
| Total equity and liabilities | 10/49 | €543,706 | €597,984 | +€54,278 | +10.0% |
| Equity | 10/15 | -€17,845 | €33,692 | +€51,537 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€22,845 | €28,692 | +€51,537 | |
| Amounts payable | 17/49 | €561,551 | €564,292 | +€2,741 | +0.5% |
| Amounts payable after more than one year | 17 | €216,000 | - | -€216,000 | |
| Financial debts | 170/4 | €216,000 | - | -€216,000 | |
| Amounts payable within one year | 42/48 | €333,305 | €553,618 | +€220,313 | +66.1% |
| Financial debts | 43 | - | €216,000 | +€216,000 | |
| Credit institutions | 430/8 | - | €216,000 | +€216,000 | |
| Trade debts | 44 | €277 | €1,128 | +€851 | +307% |
| Suppliers | 440/4 | €277 | €1,128 | +€851 | +307% |
| Taxes, remuneration and social security | 45 | €4,076 | €16,638 | +€12,562 | +308% |
| Taxes | 450/3 | €4,076 | €16,638 | +€12,562 | +308% |
| Other amounts payable | 47/48 | €328,952 | €319,852 | -€9,100 | -2.8% |
| Accrued charges and deferred income | 492/3 | €12,246 | €10,674 | -€1,572 | -12.8% |
| Non-recurring operating income | 76A | €50,340 | €130,322 | +€79,982 | +159% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,368 | €14,404 | +€37 | +0.3% |
| Other operating charges | 640/8 | €68 | €929 | +€861 | +1,264% |
| Gross operating margin | 9900 | €46,419 | €94,940 | +€48,521 | +105% |
| Operating profit (loss) | 9901 | €31,983 | €79,606 | +€47,623 | +149% |
| Financial charges | 65/66B | €13,098 | €11,431 | -€1,666 | -12.7% |
| Recurring financial charges | 65 | €13,098 | €11,431 | -€1,666 | -12.7% |
| Profit (loss) for the period before taxes | 9903 | €18,885 | €68,175 | +€49,290 | +261% |
| Income taxes | 67/77 | €4,076 | €16,638 | +€12,562 | +308% |
| Profit (loss) for the period | 9904 | €14,810 | €51,537 | +€36,727 | +248% |
| Profit (loss) for the period to be appropriated | 9905 | €14,810 | €51,537 | +€36,727 | +248% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.