FINARMONIA: 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.
FINARMONIA
Largest movements
- Receivables after one year -€450,000
no longer reported in 2025 (was €450,000)
- Receivables within one year +€302,166
up €302,166 (+225%), from €134,247 to €436,413
of which Other amounts receivable: +€397,587
- Tangible fixed assets -€26,525
down €26,525 (-20.4%), from €130,103 to €103,578
- Cash +€15,216
up €15,216 (+451%), from €3,377 to €18,593
mainly Receivables after one year (+€450,000) and Other debts (+€263,623)
- Reserves -€362,231
down €362,231 (-70.9%), from €510,779 to €148,548
of which Distributable reserves: -€343,481
- Other debts +€263,623
up €263,623 (+274%), from €96,212 to €359,835
- Debts after one year -€53,552
no longer reported in 2025 (was €53,552)
- Current portion of long-term debt -€40,448
no longer reported in 2025 (was €40,448)
- Tax, wage and social debts +€18,650
up €18,650 (+60.9%), from €30,616 to €49,266
of which Taxes: +€13,611
- Gross operating margin -€111,184
down €111,184 (-42.2%), from €263,260 to €152,076
- Taxes -€35,678
down €35,678 (-77.5%), from €46,035 to €10,357
- Financial charges +€22,765
up €22,765 (+40.6%), from €56,050 to €78,815
- Staff costs +€8,563
up €8,563 (+31.7%), from €27,002 to €35,565
- Financial income +€6,862
up €6,862 (+39.1%), from €17,571 to €24,433
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 | €893,088 | €736,162 | -€156,926 | -17.6% |
| Fixed assets | 21/28 | €302,163 | €275,638 | -€26,525 | -8.8% |
| Tangible fixed assets | 22/27 | €130,103 | €103,578 | -€26,525 | -20.4% |
| Land and buildings | 22 | €39,204 | €26,136 | -€13,068 | -33.3% |
| Furniture and vehicles | 24 | €15,733 | €13,728 | -€2,005 | -12.7% |
| Other tangible fixed assets | 26 | €75,166 | €63,714 | -€11,452 | -15.2% |
| Financial fixed assets | 28 | €172,060 | €172,060 | = | 0.0% |
| Current assets | 29/58 | €590,925 | €460,524 | -€130,401 | -22.1% |
| Amounts receivable after more than one year | 29 | €450,000 | - | -€450,000 | |
| Other amounts receivable | 291 | €450,000 | - | -€450,000 | |
| Amounts receivable within one year | 40/41 | €134,247 | €436,413 | +€302,166 | +225% |
| Trade receivables | 40 | €134,247 | €38,826 | -€95,421 | -71.1% |
| Other amounts receivable | 41 | - | €397,587 | +€397,587 | |
| Cash at bank and in hand | 54/58 | €3,377 | €18,593 | +€15,216 | +451% |
| Deferred charges and accrued income | 490/1 | €3,301 | €5,518 | +€2,217 | +67.2% |
| Total equity and liabilities | 10/49 | €893,088 | €736,162 | -€156,926 | -17.6% |
| Equity | 10/15 | €604,379 | €242,148 | -€362,231 | -59.9% |
| Contributions | 10/11 | €93,600 | €93,600 | = | 0.0% |
| Reserves | 13 | €510,779 | €148,548 | -€362,231 | -70.9% |
| Non-distributable reserves | 130/1 | €2,852 | €2,852 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,852 | €2,852 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | - | -€18,750 | |
| Distributable reserves | 133 | €489,177 | €145,696 | -€343,481 | -70.2% |
| Provisions and deferred taxes | 16 | €66,162 | €79,398 | +€13,236 | +20.0% |
| Provisions for liabilities and charges | 160/5 | €66,162 | €79,398 | +€13,236 | +20.0% |
| Other liabilities and charges | 164/5 | €66,162 | €79,398 | +€13,236 | +20.0% |
| Amounts payable | 17/49 | €222,547 | €414,616 | +€192,069 | +86.3% |
| Amounts payable after more than one year | 17 | €53,552 | - | -€53,552 | |
| Financial debts | 170/4 | €53,552 | - | -€53,552 | |
| Amounts payable within one year | 42/48 | €168,995 | €414,006 | +€245,011 | +145% |
| Current portion of amounts payable after more than one year | 42 | €40,448 | - | -€40,448 | |
| Trade debts | 44 | €1,719 | €4,905 | +€3,186 | +185% |
| Suppliers | 440/4 | €1,719 | €4,905 | +€3,186 | +185% |
| Taxes, remuneration and social security | 45 | €30,616 | €49,266 | +€18,650 | +60.9% |
| Taxes | 450/3 | €27,290 | €40,901 | +€13,611 | +49.9% |
| Remuneration and social security | 454/9 | €3,326 | €8,365 | +€5,039 | +152% |
| Other amounts payable | 47/48 | €96,212 | €359,835 | +€263,623 | +274% |
| Accrued charges and deferred income | 492/3 | - | €610 | +€610 | |
| Remuneration, social security and pensions | 62 | €27,002 | €35,565 | +€8,563 | +31.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,782 | €38,552 | +€770 | +2.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €8,092 | €13,235 | +€5,143 | +63.6% |
| Other operating charges | 640/8 | €5,793 | €4,758 | -€1,035 | -17.9% |
| Gross operating margin | 9900 | €263,260 | €152,076 | -€111,184 | -42.2% |
| Operating profit (loss) | 9901 | €184,591 | €59,966 | -€124,625 | -67.5% |
| Financial income | 75/76B | €17,571 | €24,433 | +€6,862 | +39.1% |
| Recurring financial income | 75 | €17,571 | €24,433 | +€6,862 | +39.1% |
| Financial charges | 65/66B | €56,050 | €78,815 | +€22,765 | +40.6% |
| Recurring financial charges | 65 | €56,050 | €78,815 | +€22,765 | +40.6% |
| Profit (loss) for the period before taxes | 9903 | €146,112 | €5,584 | -€140,528 | -96.2% |
| Income taxes | 67/77 | €46,035 | €10,357 | -€35,678 | -77.5% |
| Profit (loss) for the period | 9904 | €100,077 | -€4,773 | -€104,850 | |
| Transfer from tax-exempt reserves | 789 | - | €18,750 | +€18,750 | |
| Profit (loss) for the period to be appropriated | 9905 | €100,077 | €13,977 | -€86,100 | -86.0% |
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.