Financo: what changed
Financo
Largest movements
- Tangible fixed assets +€122,554
up €122,554 (+383%), from €32,023 to €154,577
of which Land and buildings: +€121,687
- Deferred charges and accrued income +€33,154
up €33,154 (+11.6%), from €285,678 to €318,831
- Intangible fixed assets +€19,277
up €19,277 (+76.0%), from €25,367 to €44,644
- Receivables within one year -€13,840
down €13,840 (-72.4%), from €19,129 to €5,289
of which Other amounts receivable: -€15,149
- Cash +€10,717
up €10,717 (+198%), from €5,405 to €16,122
mainly Net result for the year (+€148,750) and Trade debts (+€59,849)
- Reserves +€148,750
up €148,750 (+664%), from €22,409 to €171,159
- Other debts -€76,306
down €76,306 (-75.3%), from €101,383 to €25,077
- Trade debts +€59,849
up €59,849 (+1,120%), from €5,343 to €65,191
- Accrued charges and deferred income +€31,559
up €31,559 (+21.4%), from €147,463 to €179,022
- Tax, wage and social debts +€8,009
up €8,009 (+30.8%), from €26,004 to €34,013
of which Remuneration and social security: +€20,867
- Gross operating margin +€231,532
up €231,532 (+130%), from €177,624 to €409,156
- Staff costs +€53,702
up €53,702 (+41.1%), from €130,538 to €184,240
- Taxes +€34,428
up €34,428 (+297%), from €11,593 to €46,020
- Depreciation +€12,227
up €12,227 (+96.5%), from €12,675 to €24,902
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 | €367,602 | €539,463 | +€171,860 | +46.8% |
| Fixed assets | 21/28 | €57,390 | €199,221 | +€141,831 | +247% |
| Intangible fixed assets | 21 | €25,367 | €44,644 | +€19,277 | +76.0% |
| Tangible fixed assets | 22/27 | €32,023 | €154,577 | +€122,554 | +383% |
| Land and buildings | 22 | €20,744 | €142,431 | +€121,687 | +587% |
| Plant, machinery and equipment | 23 | €6,023 | €7,520 | +€1,497 | +24.8% |
| Furniture and vehicles | 24 | €5,256 | €4,626 | -€630 | -12.0% |
| Current assets | 29/58 | €310,212 | €340,242 | +€30,030 | +9.7% |
| Amounts receivable within one year | 40/41 | €19,129 | €5,289 | -€13,840 | -72.4% |
| Trade receivables | 40 | - | €1,309 | +€1,309 | |
| Other amounts receivable | 41 | €19,129 | €3,980 | -€15,149 | -79.2% |
| Cash at bank and in hand | 54/58 | €5,405 | €16,122 | +€10,717 | +198% |
| Deferred charges and accrued income | 490/1 | €285,678 | €318,831 | +€33,154 | +11.6% |
| Total equity and liabilities | 10/49 | €367,602 | €539,463 | +€171,860 | +46.8% |
| Equity | 10/15 | €47,409 | €196,159 | +€148,750 | +314% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €22,409 | €171,159 | +€148,750 | +664% |
| Distributable reserves | 133 | €22,409 | €171,159 | +€148,750 | +664% |
| Amounts payable | 17/49 | €320,193 | €343,304 | +€23,111 | +7.2% |
| Amounts payable after more than one year | 17 | €40,000 | €40,000 | = | 0.0% |
| Financial debts | 170/4 | €40,000 | €40,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €132,730 | €124,282 | -€8,449 | -6.4% |
| Trade debts | 44 | €5,343 | €65,191 | +€59,849 | +1,120% |
| Suppliers | 440/4 | €5,343 | €65,191 | +€59,849 | +1,120% |
| Taxes, remuneration and social security | 45 | €26,004 | €34,013 | +€8,009 | +30.8% |
| Taxes | 450/3 | €12,858 | - | -€12,858 | |
| Remuneration and social security | 454/9 | €13,146 | €34,013 | +€20,867 | +159% |
| Other amounts payable | 47/48 | €101,383 | €25,077 | -€76,306 | -75.3% |
| Accrued charges and deferred income | 492/3 | €147,463 | €179,022 | +€31,559 | +21.4% |
| Non-recurring operating income | 76A | €5,855 | - | -€5,855 | |
| Remuneration, social security and pensions | 62 | €130,538 | €184,240 | +€53,702 | +41.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,675 | €24,902 | +€12,227 | +96.5% |
| Other operating charges | 640/8 | €296 | €2,196 | +€1,901 | +643% |
| Gross operating margin | 9900 | €177,624 | €409,156 | +€231,532 | +130% |
| Operating profit (loss) | 9901 | €34,116 | €197,817 | +€163,701 | +480% |
| Financial income | 75/76B | €7 | - | -€7 | |
| Recurring financial income | 75 | €7 | - | -€7 | |
| Financial charges | 65/66B | €1,232 | €3,047 | +€1,815 | +147% |
| Recurring financial charges | 65 | €1,232 | €3,047 | +€1,815 | +147% |
| Profit (loss) for the period before taxes | 9903 | €32,891 | €194,770 | +€161,879 | +492% |
| Income taxes | 67/77 | €11,593 | €46,020 | +€34,428 | +297% |
| Profit (loss) for the period | 9904 | €21,299 | €148,750 | +€127,451 | +598% |
| Profit (loss) for the period to be appropriated | 9905 | €21,299 | €148,750 | +€127,451 | +598% |
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 6 November 2026 via checked.be.