FINAVERA: 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.
FINAVERA
Largest movements
- Current investments +€45,175
up €45,175 (+339.7%), from €13,297 to €58,472
- Cash +€42,670
up €42,670 (+149.1%), from €28,610 to €71,280
mainly Net result for the year (+€210,391) and Depreciation (+€65,316)
- Tangible fixed assets +€41,583
up €41,583 (+3.8%), from €1.1m to €1.1m
of which Land and buildings: +€49,933
- Reserves +€258,531
up €258,531 (+41.5%), from €623,597 to €882,128
of which Distributable reserves: +€260,391
- Debts after one year -€101,314
down €101,314 (-13.5%), from €750,889 to €649,575
of which Financial debts: -€53,814
- Profit (loss) carried forward -€48,140
down €48,140 (-44.5%), from €108,128 to €59,988
- Other debts -€44,270
down €44,270 (-82.1%), from €53,889 to €9,619
- Current portion of long-term debt +€40,937
up €40,937 (+40.8%), from €100,377 to €141,314
- Financial income +€86,832
up €86,832 (+135.1%), from €64,289 to €151,121
- Financial charges +€20,865
up €20,865 (+4839.9%), from €431 to €21,296
- Gross operating margin -€9,788
down €9,788 (-4.6%), from €212,179 to €202,391
- Depreciation +€6,922
up €6,922 (+11.9%), from €58,394 to €65,316
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 | €1,713,201 | €1,833,728 | +€120,527 | +7.0% |
| Fixed assets | 21/28 | €1,611,404 | €1,652,987 | +€41,583 | +2.6% |
| Tangible fixed assets | 22/27 | €1,101,619 | €1,143,203 | +€41,583 | +3.8% |
| Land and buildings | 22 | €1,056,586 | €1,106,519 | +€49,933 | +4.7% |
| Plant, machinery and equipment | 23 | €193 | €1,163 | +€970 | +502.3% |
| Furniture and vehicles | 24 | €44,841 | €35,521 | -€9,320 | -20.8% |
| Financial fixed assets | 28 | €509,785 | €509,785 | = | 0.0% |
| Current assets | 29/58 | €101,797 | €180,741 | +€78,944 | +77.6% |
| Amounts receivable within one year | 40/41 | €56,611 | €47,496 | -€9,115 | -16.1% |
| Trade receivables | 40 | €18,300 | €18,300 | = | 0.0% |
| Other amounts receivable | 41 | €38,311 | €29,196 | -€9,115 | -23.8% |
| Current investments | 50/53 | €13,297 | €58,472 | +€45,175 | +339.7% |
| Cash at bank and in hand | 54/58 | €28,610 | €71,280 | +€42,670 | +149.1% |
| Deferred charges and accrued income | 490/1 | €3,279 | €3,493 | +€214 | +6.5% |
| Total equity and liabilities | 10/49 | €1,713,201 | €1,833,728 | +€120,527 | +7.0% |
| Equity | 10/15 | €744,125 | €954,516 | +€210,391 | +28.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €623,597 | €882,128 | +€258,531 | +41.5% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100.0% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100.0% |
| Distributable reserves | 133 | €621,737 | €882,128 | +€260,391 | +41.9% |
| Profit (loss) carried forward | 14 | €108,128 | €59,988 | -€48,140 | -44.5% |
| Amounts payable | 17/49 | €969,076 | €879,212 | -€89,864 | -9.3% |
| Amounts payable after more than one year | 17 | €750,889 | €649,575 | -€101,314 | -13.5% |
| Financial debts | 170/4 | €703,389 | €649,575 | -€53,814 | -7.7% |
| Other amounts payable | 178/9 | €47,500 | €0 | -€47,500 | -100.0% |
| Amounts payable within one year | 42/48 | €218,099 | €229,594 | +€11,494 | +5.3% |
| Current portion of amounts payable after more than one year | 42 | €100,377 | €141,314 | +€40,937 | +40.8% |
| Financial debts | 43 | €45,066 | €20,126 | -€24,941 | -55.3% |
| Credit institutions | 430/8 | €45,066 | €20,126 | -€24,941 | -55.3% |
| Trade debts | 44 | €368 | €33,896 | +€33,528 | +9108.8% |
| Suppliers | 440/4 | €368 | €33,896 | +€33,528 | +9108.8% |
| Taxes, remuneration and social security | 45 | €18,399 | €24,639 | +€6,240 | +33.9% |
| Taxes | 450/3 | €18,399 | €24,639 | +€6,240 | +33.9% |
| Other amounts payable | 47/48 | €53,889 | €9,619 | -€44,270 | -82.1% |
| Accrued charges and deferred income | 492/3 | €88 | €44 | -€44 | -50.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,394 | €65,316 | +€6,922 | +11.9% |
| Other operating charges | 640/8 | €3,215 | €3,330 | +€115 | +3.6% |
| Gross operating margin | 9900 | €212,179 | €202,391 | -€9,788 | -4.6% |
| Operating profit (loss) | 9901 | €150,569 | €133,745 | -€16,824 | -11.2% |
| Financial income | 75/76B | €64,289 | €151,121 | +€86,832 | +135.1% |
| Recurring financial income | 75 | €64,289 | €151,121 | +€86,832 | +135.1% |
| Financial charges | 65/66B | €431 | €21,296 | +€20,865 | +4839.9% |
| Recurring financial charges | 65 | €431 | €21,296 | +€20,865 | +4839.9% |
| Profit (loss) for the period before taxes | 9903 | €214,428 | €263,570 | +€49,143 | +22.9% |
| Income taxes | 67/77 | €53,835 | €53,179 | -€655 | -1.2% |
| Profit (loss) for the period | 9904 | €160,593 | €210,391 | +€49,798 | +31.0% |
| Profit (loss) for the period to be appropriated | 9905 | €160,593 | €210,391 | +€49,798 | +31.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.