FINBELUC: what changed
Two fiscal 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.
FINBELUC
Largest movements
- Receivables within one year +€1.2m
up €1.2m (+19135.8%), from €6,532 to €1.3m
of which Other amounts receivable: +€1.3m
- Cash -€170,174
down €170,174 (-40.2%), from €423,231 to €253,057
mainly Receivables within one year (-€1.2m) and Investment in fixed assets (net) (-€59,481)
- Tangible fixed assets -€59,384
down €59,384 (-1.6%), from €3.8m to €3.7m
of which Land and buildings: -€43,785
- Debts after one year +€886,792
up €886,792 (+20.3%), from €4.4m to €5.3m
- Profit (loss) carried forward +€244,922
up €244,922, from -€242,067 to €2,855
- Reserves -€169,170
down €169,170 (-96.5%), from €175,370 to €6,200
of which Distributable reserves: -€157,370
- Gross operating margin -€22,252
down €22,252 (-5.7%), from €390,455 to €368,203
- Write-downs -€20,699
down €20,699 (-100.0%), from €20,699 to €0
- Financial income +€6,417
up €6,417 (+128333.4%), from €5 to €6,422
- Depreciation +€5,932
up €5,932 (+5.3%), from €112,932 to €118,865
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 | €4,456,870 | €5,482,720 | +€1.0m | +23.0% |
| Fixed assets | 21/28 | €4,018,908 | €3,959,524 | -€59,384 | -1.5% |
| Intangible fixed assets | 21 | €262,311 | €262,311 | = | 0.0% |
| Tangible fixed assets | 22/27 | €3,756,463 | €3,697,079 | -€59,384 | -1.6% |
| Land and buildings | 22 | €3,736,570 | €3,692,784 | -€43,785 | -1.2% |
| Plant, machinery and equipment | 23 | €5,726 | €4,295 | -€1,431 | -25.0% |
| Assets under construction and advance payments | 27 | €14,167 | €0 | -€14,167 | -100.0% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €437,962 | €1,523,196 | +€1.1m | +247.8% |
| Amounts receivable within one year | 40/41 | €6,532 | €1,256,417 | +€1.2m | +19135.8% |
| Trade receivables | 40 | €6,532 | €0 | -€6,532 | -100.0% |
| Other amounts receivable | 41 | €0 | €1,256,417 | +€1.3m | |
| Cash at bank and in hand | 54/58 | €423,231 | €253,057 | -€170,174 | -40.2% |
| Deferred charges and accrued income | 490/1 | €8,199 | €13,722 | +€5,523 | +67.4% |
| Total equity and liabilities | 10/49 | €4,456,870 | €5,482,720 | +€1.0m | +23.0% |
| Equity | 10/15 | -€4,697 | €71,055 | +€75,752 | |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €175,370 | €6,200 | -€169,170 | -96.5% |
| Non-distributable reserves | 130/1 | €18,000 | €6,200 | -€11,800 | -65.6% |
| Legal reserve | 130 | €18,000 | €6,200 | -€11,800 | -65.6% |
| Distributable reserves | 133 | €157,370 | €0 | -€157,370 | -100.0% |
| Profit (loss) carried forward | 14 | -€242,067 | €2,855 | +€244,922 | |
| Amounts payable | 17/49 | €4,461,568 | €5,411,665 | +€950,098 | +21.3% |
| Amounts payable after more than one year | 17 | €4,370,552 | €5,257,344 | +€886,792 | +20.3% |
| Financial debts | 170/4 | €4,370,552 | €5,257,344 | +€886,792 | +20.3% |
| Amounts payable within one year | 42/48 | €83,809 | €149,796 | +€65,987 | +78.7% |
| Current portion of amounts payable after more than one year | 42 | €67,289 | €113,208 | +€45,919 | +68.2% |
| Trade debts | 44 | €3,603 | €21,130 | +€17,528 | +486.5% |
| Suppliers | 440/4 | €3,603 | €21,130 | +€17,528 | +486.5% |
| Other amounts payable | 47/48 | €12,918 | €15,458 | +€2,540 | +19.7% |
| Accrued charges and deferred income | 492/3 | €7,207 | €4,525 | -€2,682 | -37.2% |
| Remuneration, social security and pensions | 62 | €101 | €0 | -€101 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €112,932 | €118,865 | +€5,932 | +5.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €20,699 | €0 | -€20,699 | -100.0% |
| Other operating charges | 640/8 | €52,701 | €54,353 | +€1,652 | +3.1% |
| Gross operating margin | 9900 | €390,455 | €368,203 | -€22,252 | -5.7% |
| Operating profit (loss) | 9901 | €204,021 | €194,985 | -€9,036 | -4.4% |
| Financial income | 75/76B | €5 | €6,422 | +€6,417 | +128333.4% |
| Recurring financial income | 75 | €5 | €6,422 | +€6,417 | +128333.4% |
| Financial charges | 65/66B | €122,475 | €125,655 | +€3,180 | +2.6% |
| Recurring financial charges | 65 | €122,475 | €125,655 | +€3,180 | +2.6% |
| Profit (loss) for the period before taxes | 9903 | €81,551 | €75,752 | -€5,799 | -7.1% |
| Profit (loss) for the period | 9904 | €81,551 | €75,752 | -€5,799 | -7.1% |
| Profit (loss) for the period to be appropriated | 9905 | €81,551 | €75,752 | -€5,799 | -7.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.