Finas: 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.
Finas
Largest movements
- Receivables within one year -€112,554
down €112,554 (-21.2%), from €529,832 to €417,278
of which Other amounts receivable: -€113,096
- Tangible fixed assets -€35,156
down €35,156 (-4.9%), from €720,530 to €685,374
of which Plant, machinery and equipment: -€51,208
- Cash -€30,352
down €30,352 (-13.0%), from €234,289 to €203,937
mainly Other debts (-€103,975) and Trade debts (-€44,578)
- Other debts -€103,975
down €103,975 (-86.6%), from €120,000 to €16,025
- Trade debts -€44,578
down €44,578 (-44.7%), from €99,827 to €55,249
- Debts after one year -€37,428
down €37,428 (-6.9%), from €539,774 to €502,345
- Gross operating margin -€99,031
down €99,031 (-62.1%), from €159,460 to €60,429
- Financial income -€30,129
down €30,129 (-63.2%), from €47,657 to €17,528
- Other operating charges -€9,720
down €9,720 (-81.4%), from €11,942 to €2,221
- Depreciation -€3,868
down €3,868 (-10.2%), from €37,797 to €33,929
- Financial charges -€2,187
down €2,187 (-11.4%), from €19,106 to €16,918
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.
Cash bridge derived
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 | €1,633,189 | €1,455,126 | -€178,063 | -10.9% |
| Fixed assets | 21/28 | €869,068 | €833,912 | -€35,156 | -4.0% |
| Tangible fixed assets | 22/27 | €720,530 | €685,374 | -€35,156 | -4.9% |
| Land and buildings | 22 | €667,232 | €685,360 | +€18,129 | +2.7% |
| Plant, machinery and equipment | 23 | €51,208 | - | -€51,208 | |
| Furniture and vehicles | 24 | €2,090 | €14 | -€2,076 | -99.3% |
| Financial fixed assets | 28 | €148,538 | €148,538 | = | 0.0% |
| Current assets | 29/58 | €764,121 | €621,214 | -€142,907 | -18.7% |
| Amounts receivable within one year | 40/41 | €529,832 | €417,278 | -€112,554 | -21.2% |
| Trade receivables | 40 | - | €541 | +€541 | |
| Other amounts receivable | 41 | €529,832 | €416,736 | -€113,096 | -21.3% |
| Cash at bank and in hand | 54/58 | €234,289 | €203,937 | -€30,352 | -13.0% |
| Total equity and liabilities | 10/49 | €1,633,189 | €1,455,126 | -€178,063 | -10.9% |
| Equity | 10/15 | €836,349 | €843,831 | +€7,482 | +0.9% |
| Contributions | 10/11 | €412,446 | €412,446 | = | 0.0% |
| Revaluation surpluses | 12 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €117 | €117 | = | 0.0% |
| Distributable reserves | 133 | €117 | €117 | = | 0.0% |
| Profit (loss) carried forward | 14 | €323,786 | €331,268 | +€7,482 | +2.3% |
| Amounts payable | 17/49 | €796,840 | €611,295 | -€185,545 | -23.3% |
| Amounts payable after more than one year | 17 | €539,774 | €502,345 | -€37,428 | -6.9% |
| Financial debts | 170/4 | €539,774 | €502,345 | -€37,428 | -6.9% |
| Amounts payable within one year | 42/48 | €256,417 | €108,950 | -€147,467 | -57.5% |
| Current portion of amounts payable after more than one year | 42 | €36,060 | €37,146 | +€1,086 | +3.0% |
| Trade debts | 44 | €99,827 | €55,249 | -€44,578 | -44.7% |
| Suppliers | 440/4 | €99,827 | €55,249 | -€44,578 | -44.7% |
| Taxes, remuneration and social security | 45 | €529 | €529 | = | 0.0% |
| Taxes | 450/3 | €529 | €529 | = | 0.0% |
| Other amounts payable | 47/48 | €120,000 | €16,025 | -€103,975 | -86.6% |
| Accrued charges and deferred income | 492/3 | €650 | - | -€650 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,797 | €33,929 | -€3,868 | -10.2% |
| Other operating charges | 640/8 | €11,942 | €2,221 | -€9,720 | -81.4% |
| Gross operating margin | 9900 | €159,460 | €60,429 | -€99,031 | -62.1% |
| Operating profit (loss) | 9901 | €109,721 | €24,278 | -€85,443 | -77.9% |
| Financial income | 75/76B | €47,657 | €17,528 | -€30,129 | -63.2% |
| Recurring financial income | 75 | €47,657 | €17,528 | -€30,129 | -63.2% |
| Financial charges | 65/66B | €19,106 | €16,918 | -€2,187 | -11.4% |
| Recurring financial charges | 65 | €19,106 | €16,918 | -€2,187 | -11.4% |
| Profit (loss) for the period before taxes | 9903 | €138,272 | €24,888 | -€113,384 | -82.0% |
| Income taxes | 67/77 | €529 | €2,406 | +€1,876 | +354.4% |
| Profit (loss) for the period | 9904 | €137,743 | €22,482 | -€115,261 | -83.7% |
| Profit (loss) for the period to be appropriated | 9905 | €137,743 | €22,482 | -€115,261 | -83.7% |
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 12 October 2026 via checked.be.