FINARDENNE: 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.
What changed
FINARDENNE
NACE 55.203, Holiday cottages, homes and apartments
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€3,429
2024 · €45,530-€48,959
Equity
€185,737
2024 · €189,166-€3,429
Cash
€138,076
2024 · €110,908+€27,167
Balance sheet total
€3.1m
2024 · €3.1m+€36,018
Largest movements
Assets
- Tangible fixed assets -€112,746
down €112,746 (-4.2%), from €2.7m to €2.6m
of which Land and buildings: -€149,266
- Receivables within one year +€87,462
up €87,462 (+35.5%), from €246,618 to €334,080
of which Trade receivables: +€92,929
- Financial fixed assets +€34,098
up €34,098 (+5,157%), from €661 to €34,759
Equity and liabilities
- Debts after one year -€90,372
down €90,372 (-5.0%), from €1.8m to €1.7m
- Accrued charges and deferred income +€85,047
up €85,047 (+36.6%), from €232,610 to €317,658
Income statement
- Financial income -€141,468
down €141,468 (-97.2%), from €145,508 to €4,040
of which Non-recurring financial income: -€142,623
- Gross operating margin +€43,511
up €43,511 (+16.8%), from €258,860 to €302,371
- Depreciation -€43,127
down €43,127 (-15.9%), from €271,468 to €228,341
- Financial charges -€15,661
down €15,661 (-25.2%), from €62,153 to €46,492
- Staff costs +€12,285
up €12,285 (+162%), from €7,567 to €19,852
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.
Result 2024
€45,530
Gross operating margin
+€43,511
Staff costs
-€12,285
Depreciation
+€43,127
Other operating charges
-€3,668
Other operating items
+€5,426
Financial income
-€141,468
Financial charges
+€15,661
Taxes
+€753
Deferred taxes and other
-€16
Result 2025
-€3,429
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€254,139
Investment
-€149,694
Financing
-€77,278
Cash 2024
€110,908
From operations (derived)
+€254,139
Net result for the year
-€3,429
Depreciation
+€228,341
Receivables within one year
-€87,462
Deferred charges and accrued income
-€37
Provisions
-€1,760
Trade debts
+€27,908
Tax, wage and social debts
+€2,701
Other debts
+€2,830
Accrued charges and deferred income
+€85,047
Investment (derived)
-€149,694
Investment in fixed assets (net)
-€149,694
Financing
-€77,278
Debts after one year
-€90,372
Current portion of long-term debt
+€13,094
Cash 2025
€138,076
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,051,411 | €3,087,429 | +€36,018 | +1.2% |
| Fixed assets | 21/28 | €2,688,448 | €2,609,800 | -€78,648 | -2.9% |
| Tangible fixed assets | 22/27 | €2,687,787 | €2,575,042 | -€112,746 | -4.2% |
| Land and buildings | 22 | €2,588,436 | €2,439,170 | -€149,266 | -5.8% |
| Plant, machinery and equipment | 23 | €6,490 | €5,041 | -€1,449 | -22.3% |
| Furniture and vehicles | 24 | €6,012 | €5,638 | -€374 | -6.2% |
| Leasing and similar rights | 25 | - | €52,181 | +€52,181 | |
| Other tangible fixed assets | 26 | €86,850 | €73,013 | -€13,837 | -15.9% |
| Financial fixed assets | 28 | €661 | €34,759 | +€34,098 | +5,157% |
| Current assets | 29/58 | €362,962 | €477,629 | +€114,666 | +31.6% |
| Amounts receivable within one year | 40/41 | €246,618 | €334,080 | +€87,462 | +35.5% |
| Trade receivables | 40 | €240,692 | €333,621 | +€92,929 | +38.6% |
| Other amounts receivable | 41 | €5,926 | €459 | -€5,466 | -92.3% |
| Cash at bank and in hand | 54/58 | €110,908 | €138,076 | +€27,167 | +24.5% |
| Deferred charges and accrued income | 490/1 | €5,436 | €5,473 | +€37 | +0.7% |
| Total equity and liabilities | 10/49 | €3,051,411 | €3,087,429 | +€36,018 | +1.2% |
| Equity | 10/15 | €189,166 | €185,737 | -€3,429 | -1.8% |
| Contributions | 10/11 | €13,634 | €13,634 | = | 0.0% |
| Reserves | 13 | €349,432 | €344,151 | -€5,281 | -1.5% |
| Tax-exempt reserves | 132 | €60,875 | €55,594 | -€5,281 | -8.7% |
| Distributable reserves | 133 | €288,557 | €288,557 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€173,900 | -€172,048 | +€1,852 | +1.1% |
| Provisions and deferred taxes | 16 | €20,292 | €18,531 | -€1,760 | -8.7% |
| Deferred taxes | 168 | €20,292 | €18,531 | -€1,760 | -8.7% |
| Amounts payable | 17/49 | €2,841,953 | €2,883,160 | +€41,208 | +1.4% |
| Amounts payable after more than one year | 17 | €1,793,319 | €1,702,947 | -€90,372 | -5.0% |
| Financial debts | 170/4 | €1,793,319 | €1,702,947 | -€90,372 | -5.0% |
| Amounts payable within one year | 42/48 | €816,023 | €862,555 | +€46,532 | +5.7% |
| Current portion of amounts payable after more than one year | 42 | €128,774 | €141,868 | +€13,094 | +10.2% |
| Trade debts | 44 | €42,011 | €69,918 | +€27,908 | +66.4% |
| Suppliers | 440/4 | €42,011 | €69,918 | +€27,908 | +66.4% |
| Taxes, remuneration and social security | 45 | €3,884 | €6,585 | +€2,701 | +69.5% |
| Taxes | 450/3 | €2,800 | €3,715 | +€915 | +32.7% |
| Remuneration and social security | 454/9 | €1,084 | €2,870 | +€1,786 | +165% |
| Other amounts payable | 47/48 | €641,354 | €644,184 | +€2,830 | +0.4% |
| Accrued charges and deferred income | 492/3 | €232,610 | €317,658 | +€85,047 | +36.6% |
| Non-recurring operating income | 76A | - | €5,426 | +€5,426 | |
| Remuneration, social security and pensions | 62 | €7,567 | €19,852 | +€12,285 | +162% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €271,468 | €228,341 | -€43,127 | -15.9% |
| Other operating charges | 640/8 | €12,794 | €16,461 | +€3,668 | +28.7% |
| Non-recurring operating charges | 66A | €5,426 | - | -€5,426 | |
| Gross operating margin | 9900 | €258,860 | €302,371 | +€43,511 | +16.8% |
| Operating profit (loss) | 9901 | -€38,394 | €37,717 | +€76,111 | |
| Financial income | 75/76B | €145,508 | €4,040 | -€141,468 | -97.2% |
| Recurring financial income | 75 | €52 | €1,208 | +€1,155 | +2,206% |
| Non-recurring financial income | 76B | €145,455 | €2,832 | -€142,623 | -98.1% |
| Financial charges | 65/66B | €62,153 | €46,492 | -€15,661 | -25.2% |
| Recurring financial charges | 65 | €62,153 | €46,492 | -€15,661 | -25.2% |
| Profit (loss) for the period before taxes | 9903 | €44,960 | -€4,735 | -€49,695 | |
| Transfer from deferred taxes | 780 | €1,776 | €1,760 | -€16 | -0.9% |
| Income taxes | 67/77 | €1,207 | €454 | -€753 | -62.4% |
| Profit (loss) for the period | 9904 | €45,530 | -€3,429 | -€48,959 | |
| Transfer from tax-exempt reserves | 789 | €5,329 | €5,281 | -€49 | -0.9% |
| Profit (loss) for the period to be appropriated | 9905 | €50,860 | €1,852 | -€49,008 | -96.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.