FINAVEST: 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.
FINAVEST
Largest movements
- Receivables within one year -€455,293
down €455,293 (-72.6%), from €626,893 to €171,600
of which Other amounts receivable: -€311,393
- Cash +€54,294
up €54,294 (+748%), from €7,262 to €61,556
mainly Other debts (+€515,014) and Receivables within one year (+€455,293)
- Debts after one year -€595,742
down €595,742 (-29.9%), from €2.0m to €1.4m
of which Other amounts payable: -€400,000
- Other debts +€515,014
new in 2025: €515,014
- Reserves -€202,160
down €202,160 (-53.0%), from €381,315 to €179,155
of which Distributable reserves: -€207,160
- Trade debts -€159,814
down €159,814 (-23.5%), from €679,753 to €519,939
- Financial income -€250,000
no longer reported in 2025 (was €250,000)
- Gross operating margin +€141,028
up €141,028 (+169%), from €83,674 to €224,702
- Financial charges +€3,261
up €3,261 (+2.6%), from €123,178 to €126,439
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 | €5,086,520 | €4,685,521 | -€400,999 | -7.9% |
| Fixed assets | 21/28 | €3,357,365 | €3,357,365 | = | 0.0% |
| Financial fixed assets | 28 | €3,357,365 | €3,357,365 | = | 0.0% |
| Current assets | 29/58 | €1,729,155 | €1,328,156 | -€400,999 | -23.2% |
| Amounts receivable after more than one year | 29 | €1,095,000 | €1,095,000 | = | 0.0% |
| Other amounts receivable | 291 | €1,095,000 | €1,095,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €626,893 | €171,600 | -€455,293 | -72.6% |
| Trade receivables | 40 | €315,500 | €171,600 | -€143,900 | -45.6% |
| Other amounts receivable | 41 | €311,393 | - | -€311,393 | |
| Cash at bank and in hand | 54/58 | €7,262 | €61,556 | +€54,294 | +748% |
| Total equity and liabilities | 10/49 | €5,086,520 | €4,685,521 | -€400,999 | -7.9% |
| Equity | 10/15 | €2,092,114 | €1,889,954 | -€202,160 | -9.7% |
| Contributions | 10/11 | €1,710,799 | €1,710,799 | = | 0.0% |
| Capital | 10 | €1,710,799 | €1,710,799 | = | 0.0% |
| Issued capital | 100 | €1,710,799 | €1,710,799 | = | 0.0% |
| Reserves | 13 | €381,315 | €179,155 | -€202,160 | -53.0% |
| Non-distributable reserves | 130/1 | €82,000 | €87,000 | +€5,000 | +6.1% |
| Legal reserve | 130 | €82,000 | €87,000 | +€5,000 | +6.1% |
| Distributable reserves | 133 | €299,315 | €92,155 | -€207,160 | -69.2% |
| Amounts payable | 17/49 | €2,994,406 | €2,795,567 | -€198,839 | -6.6% |
| Amounts payable after more than one year | 17 | €1,995,742 | €1,400,000 | -€595,742 | -29.9% |
| Financial debts | 170/4 | €195,742 | - | -€195,742 | |
| Other amounts payable | 178/9 | €1,800,000 | €1,400,000 | -€400,000 | -22.2% |
| Amounts payable within one year | 42/48 | €898,947 | €1,281,312 | +€382,365 | +42.5% |
| Financial debts | 43 | €209,406 | €195,741 | -€13,665 | -6.5% |
| Credit institutions | 430/8 | €209,406 | €195,741 | -€13,665 | -6.5% |
| Trade debts | 44 | €679,753 | €519,939 | -€159,814 | -23.5% |
| Suppliers | 440/4 | €679,753 | €519,939 | -€159,814 | -23.5% |
| Taxes, remuneration and social security | 45 | €9,788 | €50,618 | +€40,830 | +417% |
| Taxes | 450/3 | €9,788 | €50,618 | +€40,830 | +417% |
| Other amounts payable | 47/48 | - | €515,014 | +€515,014 | |
| Accrued charges and deferred income | 492/3 | €99,717 | €114,255 | +€14,538 | +14.6% |
| Other operating charges | 640/8 | €982 | €998 | +€16 | +1.6% |
| Gross operating margin | 9900 | €83,674 | €224,702 | +€141,028 | +169% |
| Operating profit (loss) | 9901 | €82,692 | €223,704 | +€141,012 | +171% |
| Financial income | 75/76B | €250,000 | - | -€250,000 | |
| Recurring financial income | 75 | €250,000 | - | -€250,000 | |
| Financial charges | 65/66B | €123,178 | €126,439 | +€3,261 | +2.6% |
| Recurring financial charges | 65 | €123,178 | €126,439 | +€3,261 | +2.6% |
| Profit (loss) for the period before taxes | 9903 | €209,514 | €97,265 | -€112,249 | -53.6% |
| Profit (loss) for the period | 9904 | €209,514 | €97,265 | -€112,249 | -53.6% |
| Profit (loss) for the period to be appropriated | 9905 | €209,514 | €97,265 | -€112,249 | -53.6% |
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 25 October 2026 via checked.be.