FINARPA: 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.
FINARPA
Largest movements
- Current investments -€74,013
down €74,013 (-53.7%), from €137,735 to €63,722
- Cash +€52,134
up €52,134 (+364%), from €14,305 to €66,439
mainly Net result for the year (+€100,843) and Current investments (+€74,013)
- Tangible fixed assets -€13,181
down €13,181 (-7.1%), from €186,542 to €173,361
of which Furniture and vehicles: -€14,292
- Intangible fixed assets -€12,139
down €12,139 (-14.1%), from €85,985 to €73,846
- Receivables within one year +€6,333
up €6,333 (+14.3%), from €44,308 to €50,641
of which Trade receivables: +€6,333
- Reserves -€62,500
down €62,500 (-33.2%), from €188,358 to €125,858
of which Distributable reserves: -€62,500
- Profit (loss) carried forward +€10,843
up €10,843 (+36.7%), from €29,539 to €40,382
- Tax, wage and social debts +€7,151
up €7,151 (+15.4%), from €46,445 to €53,596
of which Remuneration and social security: +€13,740
- Trade debts +€6,550
up €6,550 (+33.4%), from €19,590 to €26,140
- Staff costs +€18,352
up €18,352 (+6.3%), from €292,894 to €311,246
- Financial income +€12,854
up €12,854 (+790%), from €1,628 to €14,482
- Gross operating margin +€11,209
up €11,209 (+2.5%), from €448,146 to €459,355
- Taxes -€10,350
down €10,350 (-37.7%), from €27,467 to €17,117
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 | €501,892 | €461,528 | -€40,364 | -8.0% |
| Fixed assets | 21/28 | €272,527 | €247,207 | -€25,320 | -9.3% |
| Intangible fixed assets | 21 | €85,985 | €73,846 | -€12,139 | -14.1% |
| Tangible fixed assets | 22/27 | €186,542 | €173,361 | -€13,181 | -7.1% |
| Plant, machinery and equipment | 23 | €14,062 | €21,551 | +€7,489 | +53.3% |
| Furniture and vehicles | 24 | €47,449 | €33,157 | -€14,292 | -30.1% |
| Other tangible fixed assets | 26 | €125,031 | €118,653 | -€6,378 | -5.1% |
| Current assets | 29/58 | €229,365 | €214,321 | -€15,044 | -6.6% |
| Amounts receivable within one year | 40/41 | €44,308 | €50,641 | +€6,333 | +14.3% |
| Trade receivables | 40 | €44,258 | €50,591 | +€6,333 | +14.3% |
| Other amounts receivable | 41 | €50 | €50 | = | 0.0% |
| Current investments | 50/53 | €137,735 | €63,722 | -€74,013 | -53.7% |
| Cash at bank and in hand | 54/58 | €14,305 | €66,439 | +€52,134 | +364% |
| Deferred charges and accrued income | 490/1 | €33,017 | €33,519 | +€502 | +1.5% |
| Total equity and liabilities | 10/49 | €501,892 | €461,528 | -€40,364 | -8.0% |
| Equity | 10/15 | €238,357 | €186,700 | -€51,657 | -21.7% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €188,358 | €125,858 | -€62,500 | -33.2% |
| Tax-exempt reserves | 132 | €858 | €858 | = | 0.0% |
| Distributable reserves | 133 | €187,500 | €125,000 | -€62,500 | -33.3% |
| Profit (loss) carried forward | 14 | €29,539 | €40,382 | +€10,843 | +36.7% |
| Amounts payable | 17/49 | €263,535 | €274,828 | +€11,293 | +4.3% |
| Amounts payable after more than one year | 17 | €70,000 | €70,000 | = | 0.0% |
| Financial debts | 170/4 | €70,000 | €70,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €193,535 | €204,828 | +€11,293 | +5.8% |
| Financial debts | 43 | - | €92 | +€92 | |
| Other loans | 439 | - | €92 | +€92 | |
| Trade debts | 44 | €19,590 | €26,140 | +€6,550 | +33.4% |
| Suppliers | 440/4 | €19,590 | €26,140 | +€6,550 | +33.4% |
| Taxes, remuneration and social security | 45 | €46,445 | €53,596 | +€7,151 | +15.4% |
| Taxes | 450/3 | €15,816 | €9,227 | -€6,589 | -41.7% |
| Remuneration and social security | 454/9 | €30,629 | €44,369 | +€13,740 | +44.9% |
| Other amounts payable | 47/48 | €127,500 | €125,000 | -€2,500 | -2.0% |
| Remuneration, social security and pensions | 62 | €292,894 | €311,246 | +€18,352 | +6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,870 | €41,915 | +€45 | +0.1% |
| Other operating charges | 640/8 | €1,267 | €1,289 | +€22 | +1.7% |
| Gross operating margin | 9900 | €448,146 | €459,355 | +€11,209 | +2.5% |
| Operating profit (loss) | 9901 | €112,115 | €104,905 | -€7,210 | -6.4% |
| Financial income | 75/76B | €1,628 | €14,482 | +€12,854 | +790% |
| Recurring financial income | 75 | €1,628 | €14,482 | +€12,854 | +790% |
| Financial charges | 65/66B | €1,752 | €1,427 | -€325 | -18.6% |
| Recurring financial charges | 65 | €1,752 | €1,427 | -€325 | -18.6% |
| Profit (loss) for the period before taxes | 9903 | €111,991 | €117,960 | +€5,969 | +5.3% |
| Income taxes | 67/77 | €27,467 | €17,117 | -€10,350 | -37.7% |
| Profit (loss) for the period | 9904 | €84,524 | €100,843 | +€16,319 | +19.3% |
| Profit (loss) for the period to be appropriated | 9905 | €84,524 | €100,843 | +€16,319 | +19.3% |
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 28 October 2026 via checked.be.