FINANCE INTERNATIONAL: 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.
FINANCE INTERNATIONAL
Largest movements
- Tangible fixed assets -€35,099
down €35,099 (-10.1%), from €348,877 to €313,778
of which Land and buildings: -€31,862
- Receivables within one year -€33,428
down €33,428 (-32.6%), from €102,456 to €69,028
of which Trade receivables: -€31,925
- Cash +€15,902
up €15,902 (+852%), from €1,865 to €17,767
mainly Depreciation (+€37,809) and Receivables within one year (+€33,428)
- Other debts -€33,058
down €33,058 (-12.4%), from €266,381 to €233,322
- Tax, wage and social debts +€11,660
up €11,660 (+18.3%), from €63,864 to €75,524
- Reserves -€10,480
down €10,480 (-3.8%), from €275,319 to €264,839
of which Tax-exempt reserves: -€26,080
- Trade debts -€9,374
down €9,374 (-21.1%), from €44,401 to €35,028
- Provisions -€6,520
down €6,520 (-14.4%), from €45,270 to €38,750
- Gross operating margin -€34,967
down €34,967 (-37.2%), from €93,882 to €58,915
- Write-downs +€22,984
up €22,984, from -€135 to €22,849
- Other operating charges -€13,359
down €13,359 (-90.2%), from €14,812 to €1,453
- Taxes -€3,613
down €3,613 (-47.8%), from €7,553 to €3,940
- Financial charges -€1,216
down €1,216 (-45.0%), from €2,700 to €1,485
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.
Derived cash bridge
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 | €649,726 | €596,819 | -€52,907 | -8.1% |
| Fixed assets | 21/28 | €542,627 | €507,528 | -€35,099 | -6.5% |
| Tangible fixed assets | 22/27 | €348,877 | €313,778 | -€35,099 | -10.1% |
| Land and buildings | 22 | €331,396 | €299,533 | -€31,862 | -9.6% |
| Plant, machinery and equipment | 23 | €296 | €197 | -€99 | -33.3% |
| Furniture and vehicles | 24 | €12,423 | €9,844 | -€2,579 | -20.8% |
| Other tangible fixed assets | 26 | €4,762 | €4,203 | -€560 | -11.7% |
| Financial fixed assets | 28 | €193,750 | €193,750 | = | 0.0% |
| Current assets | 29/58 | €107,099 | €89,291 | -€17,808 | -16.6% |
| Amounts receivable within one year | 40/41 | €102,456 | €69,028 | -€33,428 | -32.6% |
| Trade receivables | 40 | €33,221 | €1,296 | -€31,925 | -96.1% |
| Other amounts receivable | 41 | €69,235 | €67,732 | -€1,503 | -2.2% |
| Cash at bank and in hand | 54/58 | €1,865 | €17,767 | +€15,902 | +852% |
| Deferred charges and accrued income | 490/1 | €2,778 | €2,497 | -€281 | -10.1% |
| Total equity and liabilities | 10/49 | €649,726 | €596,819 | -€52,907 | -8.1% |
| Equity | 10/15 | €223,661 | €213,184 | -€10,476 | -4.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €275,319 | €264,839 | -€10,480 | -3.8% |
| Tax-exempt reserves | 132 | €205,419 | €179,339 | -€26,080 | -12.7% |
| Distributable reserves | 133 | €69,900 | €85,500 | +€15,600 | +22.3% |
| Profit (loss) carried forward | 14 | -€70,251 | -€70,247 | +€4 | 0.0% |
| Provisions and deferred taxes | 16 | €45,270 | €38,750 | -€6,520 | -14.4% |
| Deferred taxes | 168 | €45,270 | €38,750 | -€6,520 | -14.4% |
| Amounts payable | 17/49 | €380,795 | €344,885 | -€35,911 | -9.4% |
| Amounts payable after more than one year | 17 | €1,011 | €1,011 | = | 0.0% |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €1,011 | €1,011 | = | 0.0% |
| Amounts payable within one year | 42/48 | €379,784 | €343,874 | -€35,911 | -9.5% |
| Current portion of amounts payable after more than one year | 42 | €5,138 | €0 | -€5,138 | -100% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €44,401 | €35,028 | -€9,374 | -21.1% |
| Suppliers | 440/4 | €44,401 | €35,028 | -€9,374 | -21.1% |
| Taxes, remuneration and social security | 45 | €63,864 | €75,524 | +€11,660 | +18.3% |
| Taxes | 450/3 | €63,864 | €75,524 | +€11,660 | +18.3% |
| Other amounts payable | 47/48 | €266,381 | €233,322 | -€33,058 | -12.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €8,965 | €8,520 | -€445 | -5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,080 | €37,809 | -€271 | -0.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€135 | €22,849 | +€22,984 | |
| Other operating charges | 640/8 | €14,812 | €1,453 | -€13,359 | -90.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €93,882 | €58,915 | -€34,967 | -37.2% |
| Operating profit (loss) | 9901 | €32,160 | -€11,716 | -€43,876 | |
| Financial income | 75/76B | €105 | €145 | +€40 | +38.6% |
| Recurring financial income | 75 | €105 | €145 | +€40 | +38.6% |
| Financial charges | 65/66B | €2,700 | €1,485 | -€1,216 | -45.0% |
| Recurring financial charges | 65 | €2,700 | €1,485 | -€1,216 | -45.0% |
| Profit (loss) for the period before taxes | 9903 | €29,564 | -€13,056 | -€42,620 | |
| Transfer from deferred taxes | 780 | €6,520 | €6,520 | = | 0.0% |
| Income taxes | 67/77 | €7,553 | €3,940 | -€3,613 | -47.8% |
| Profit (loss) for the period | 9904 | €28,531 | -€10,476 | -€39,007 | |
| Transfer from tax-exempt reserves | 789 | €26,080 | €26,080 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €54,611 | €15,604 | -€39,007 | -71.4% |
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 28 October 2026 via checked.be.