FINANTEL: 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.
FINANTEL
Largest movements
- Receivables within one year +€3.6m
up €3.6m (+33.8%), from €10.6m to €14.2m
of which Other amounts receivable: +€3.6m
- Cash -€2.0m
down €2.0m (-67.6%), from €3.0m to €959,564
mainly Receivables within one year (-€3.6m) and Contributions, distributions and other (-€237,654)
- Current investments -€1.7m
down €1.7m (-22.0%), from €7.9m to €6.1m
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€76,545
down €76,545 (-171%), from -€44,756 to -€121,301
- Financial income -€39,348
down €39,348 (-10.3%), from €383,694 to €344,347
- Taxes +€28,252
up €28,252 (+59.0%), from €47,877 to €76,129
- Financial charges -€22,087
down €22,087 (-45.9%), from €48,098 to €26,012
- Other operating charges -€6,500
down €6,500 (-45.2%), from €14,366 to €7,865
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 | €23,705,396 | €23,462,914 | -€242,482 | -1.0% |
| Fixed assets | 21/28 | €2,267,148 | €2,179,422 | -€87,727 | -3.9% |
| Tangible fixed assets | 22/27 | €2,266,961 | €2,179,235 | -€87,727 | -3.9% |
| Land and buildings | 22 | €2,225,909 | €2,145,455 | -€80,455 | -3.6% |
| Plant, machinery and equipment | 23 | €39,189 | €32,930 | -€6,259 | -16.0% |
| Furniture and vehicles | 24 | €1,863 | €850 | -€1,013 | -54.4% |
| Financial fixed assets | 28 | €187 | €187 | = | 0.0% |
| Current assets | 29/58 | €21,438,248 | €21,283,493 | -€154,755 | -0.7% |
| Amounts receivable within one year | 40/41 | €10,596,870 | €14,182,199 | +€3.6m | +33.8% |
| Trade receivables | 40 | €30,571 | €0 | -€30,571 | -100% |
| Other amounts receivable | 41 | €10,566,300 | €14,182,199 | +€3.6m | +34.2% |
| Current investments | 50/53 | €7,872,896 | €6,139,886 | -€1.7m | -22.0% |
| Cash at bank and in hand | 54/58 | €2,964,708 | €959,564 | -€2.0m | -67.6% |
| Deferred charges and accrued income | 490/1 | €3,774 | €1,843 | -€1,930 | -51.2% |
| Total equity and liabilities | 10/49 | €23,705,396 | €23,462,914 | -€242,482 | -1.0% |
| Equity | 10/15 | €7,509,410 | €7,297,069 | -€212,341 | -2.8% |
| Contributions | 10/11 | €61,550 | €61,550 | = | 0.0% |
| Reserves | 13 | €7,447,860 | €7,235,519 | -€212,341 | -2.9% |
| Distributable reserves | 133 | €7,447,860 | €7,235,519 | -€212,341 | -2.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €16,195,986 | €16,165,845 | -€30,141 | -0.2% |
| Amounts payable within one year | 42/48 | €16,195,018 | €16,164,847 | -€30,171 | -0.2% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €17,353 | €1,993 | -€15,360 | -88.5% |
| Suppliers | 440/4 | €17,353 | €1,993 | -€15,360 | -88.5% |
| Taxes, remuneration and social security | 45 | €27,470 | €15,614 | -€11,856 | -43.2% |
| Taxes | 450/3 | €26,270 | €14,414 | -€11,856 | -45.1% |
| Remuneration and social security | 454/9 | €1,200 | €1,200 | = | 0.0% |
| Other amounts payable | 47/48 | €16,150,196 | €16,147,240 | -€2,956 | 0.0% |
| Accrued charges and deferred income | 492/3 | €968 | €998 | +€31 | +3.2% |
| Non-recurring operating income | 76A | €43,160 | €0 | -€43,160 | -100% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,727 | €87,727 | +€0 | 0.0% |
| Other operating charges | 640/8 | €14,366 | €7,865 | -€6,500 | -45.2% |
| Gross operating margin | 9900 | -€44,756 | -€121,301 | -€76,545 | -171% |
| Operating profit (loss) | 9901 | -€146,848 | -€216,893 | -€70,045 | -47.7% |
| Financial income | 75/76B | €383,694 | €344,347 | -€39,348 | -10.3% |
| Recurring financial income | 75 | €383,694 | €344,347 | -€39,348 | -10.3% |
| Financial charges | 65/66B | €48,098 | €26,012 | -€22,087 | -45.9% |
| Recurring financial charges | 65 | €48,098 | €26,012 | -€22,087 | -45.9% |
| Profit (loss) for the period before taxes | 9903 | €188,748 | €101,442 | -€87,306 | -46.3% |
| Income taxes | 67/77 | €47,877 | €76,129 | +€28,252 | +59.0% |
| Profit (loss) for the period | 9904 | €140,871 | €25,313 | -€115,558 | -82.0% |
| Profit (loss) for the period to be appropriated | 9905 | €140,871 | €25,313 | -€115,558 | -82.0% |
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 13 October 2026 via checked.be.