FINAP: 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.
FINAP
Largest movements
- Cash -€416,751
down €416,751 (-98.1%), from €424,722 to €7,971
mainly Current investments (-€380,000) and Receivables within one year (-€110,397)
- Current investments +€380,000
new in 2025: €380,000
- Receivables within one year +€110,397
up €110,397 (+378%), from €29,210 to €139,607
of which Trade receivables: +€110,467
No liability line moved by more than 1% of the balance sheet total.
- Financial income -€7,023
down €7,023 (-51.4%), from €13,651 to €6,628
- Gross operating margin -€6,482
down €6,482 (-3.0%), from €214,671 to €208,189
- Taxes -€2,742
down €2,742 (-14.2%), from €19,285 to €16,543
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 | €7,552,343 | €7,618,880 | +€66,538 | +0.9% |
| Fixed assets | 21/28 | €7,095,503 | €7,090,823 | -€4,681 | -0.1% |
| Tangible fixed assets | 22/27 | €62,147 | €57,466 | -€4,681 | -7.5% |
| Land and buildings | 22 | €62,147 | €57,466 | -€4,681 | -7.5% |
| Financial fixed assets | 28 | €7,033,357 | €7,033,357 | = | 0.0% |
| Current assets | 29/58 | €456,839 | €528,057 | +€71,218 | +15.6% |
| Amounts receivable within one year | 40/41 | €29,210 | €139,607 | +€110,397 | +378% |
| Trade receivables | 40 | €26,115 | €136,582 | +€110,467 | +423% |
| Other amounts receivable | 41 | €3,095 | €3,025 | -€70 | -2.3% |
| Current investments | 50/53 | - | €380,000 | +€380,000 | |
| Cash at bank and in hand | 54/58 | €424,722 | €7,971 | -€416,751 | -98.1% |
| Deferred charges and accrued income | 490/1 | €2,907 | €479 | -€2,428 | -83.5% |
| Total equity and liabilities | 10/49 | €7,552,343 | €7,618,880 | +€66,538 | +0.9% |
| Equity | 10/15 | €7,422,573 | €7,457,506 | +€34,932 | +0.5% |
| Contributions | 10/11 | €4,326,484 | €4,326,484 | = | 0.0% |
| Capital | 10 | €4,326,484 | €4,326,484 | = | 0.0% |
| Issued capital | 100 | €4,326,484 | €4,326,484 | = | 0.0% |
| Reserves | 13 | €3,096,090 | €3,131,022 | +€34,932 | +1.1% |
| Non-distributable reserves | 130/1 | €140,000 | €142,500 | +€2,500 | +1.8% |
| Legal reserve | 130 | €140,000 | €142,500 | +€2,500 | +1.8% |
| Distributable reserves | 133 | €2,956,090 | €2,988,522 | +€32,432 | +1.1% |
| Amounts payable | 17/49 | €129,769 | €161,374 | +€31,605 | +24.4% |
| Amounts payable within one year | 42/48 | €129,769 | €161,374 | +€31,605 | +24.4% |
| Trade debts | 44 | €47,387 | €68,256 | +€20,869 | +44.0% |
| Suppliers | 440/4 | €47,387 | €68,256 | +€20,869 | +44.0% |
| Taxes, remuneration and social security | 45 | €32,382 | €40,810 | +€8,428 | +26.0% |
| Taxes | 450/3 | €14,931 | €25,498 | +€10,568 | +70.8% |
| Remuneration and social security | 454/9 | €17,451 | €15,311 | -€2,140 | -12.3% |
| Other amounts payable | 47/48 | €50,000 | €52,309 | +€2,309 | +4.6% |
| Remuneration, social security and pensions | 62 | €151,794 | €151,745 | -€50 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,681 | €4,681 | = | 0.0% |
| Other operating charges | 640/8 | €4,547 | €4,635 | +€87 | +1.9% |
| Gross operating margin | 9900 | €214,671 | €208,189 | -€6,482 | -3.0% |
| Operating profit (loss) | 9901 | €53,649 | €47,129 | -€6,520 | -12.2% |
| Financial income | 75/76B | €13,651 | €6,628 | -€7,023 | -51.4% |
| Recurring financial income | 75 | €13,651 | €6,628 | -€7,023 | -51.4% |
| Financial charges | 65/66B | €1,531 | €2,281 | +€750 | +49.0% |
| Recurring financial charges | 65 | €1,531 | €2,281 | +€750 | +49.0% |
| Profit (loss) for the period before taxes | 9903 | €65,768 | €51,475 | -€14,293 | -21.7% |
| Income taxes | 67/77 | €19,285 | €16,543 | -€2,742 | -14.2% |
| Profit (loss) for the period | 9904 | €46,483 | €34,932 | -€11,551 | -24.8% |
| Profit (loss) for the period to be appropriated | 9905 | €46,483 | €34,932 | -€11,551 | -24.8% |
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 30 October 2026 via checked.be.