FINDIN: 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.
FINDIN
Largest movements
- Financial fixed assets +€306,132
up €306,132 (+12.9%), from €2.4m to €2.7m
- Other debts +€1.1m
up €1.1m (+1,336%), from €85,070 to €1.2m
- Debts after one year -€813,063
no longer reported in 2025 (was €813,063)
- Current portion of long-term debt -€283,718
down €283,718 (-94.0%), from €301,942 to €18,224
- Reserves +€200,272
up €200,272 (+26.4%), from €757,353 to €957,625
of which Distributable reserves: +€200,272
- Tax, wage and social debts +€43,911
up €43,911 (+253%), from €17,363 to €61,274
of which Taxes: +€44,988
- Taxes +€67,661
up €67,661 (+127%), from €53,461 to €121,122
- Gross operating margin -€12,578
down €12,578 (-3.3%), from €384,531 to €371,953
- Financial charges +€11,213
up €11,213 (+33.8%), from €33,203 to €44,416
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 | €2,452,590 | €2,741,529 | +€288,939 | +11.8% |
| Fixed assets | 21/28 | €2,374,241 | €2,678,936 | +€304,695 | +12.8% |
| Tangible fixed assets | 22/27 | €3,647 | €2,210 | -€1,437 | -39.4% |
| Plant, machinery and equipment | 23 | - | €2,210 | +€2,210 | |
| Furniture and vehicles | 24 | €3,647 | - | -€3,647 | |
| Financial fixed assets | 28 | €2,370,594 | €2,676,726 | +€306,132 | +12.9% |
| Current assets | 29/58 | €78,349 | €62,593 | -€15,756 | -20.1% |
| Amounts receivable within one year | 40/41 | €62,146 | €60,000 | -€2,146 | -3.5% |
| Trade receivables | 40 | €60,000 | €60,000 | = | 0.0% |
| Other amounts receivable | 41 | €2,146 | - | -€2,146 | |
| Cash at bank and in hand | 54/58 | €16,203 | €2,145 | -€14,058 | -86.8% |
| Deferred charges and accrued income | 490/1 | - | €448 | +€448 | |
| Total equity and liabilities | 10/49 | €2,452,590 | €2,741,529 | +€288,939 | +11.8% |
| Equity | 10/15 | €1,224,089 | €1,424,361 | +€200,272 | +16.4% |
| Contributions | 10/11 | €466,736 | €466,736 | = | 0.0% |
| Reserves | 13 | €757,353 | €957,625 | +€200,272 | +26.4% |
| Tax-exempt reserves | 132 | €10,576 | €10,576 | = | 0.0% |
| Distributable reserves | 133 | €746,777 | €947,049 | +€200,272 | +26.8% |
| Amounts payable | 17/49 | €1,228,501 | €1,317,168 | +€88,667 | +7.2% |
| Amounts payable after more than one year | 17 | €813,063 | - | -€813,063 | |
| Financial debts | 170/4 | €813,063 | - | -€813,063 | |
| Amounts payable within one year | 42/48 | €404,375 | €1,306,106 | +€901,731 | +223% |
| Current portion of amounts payable after more than one year | 42 | €301,942 | €18,224 | -€283,718 | -94.0% |
| Financial debts | 43 | - | €504 | +€504 | |
| Credit institutions | 430/8 | - | €504 | +€504 | |
| Trade debts | 44 | - | €4,446 | +€4,446 | |
| Suppliers | 440/4 | - | €4,446 | +€4,446 | |
| Taxes, remuneration and social security | 45 | €17,363 | €61,274 | +€43,911 | +253% |
| Taxes | 450/3 | €9,160 | €54,148 | +€44,988 | +491% |
| Remuneration and social security | 454/9 | €8,203 | €7,126 | -€1,077 | -13.1% |
| Other amounts payable | 47/48 | €85,070 | €1,221,658 | +€1.1m | +1,336% |
| Accrued charges and deferred income | 492/3 | €11,063 | €11,062 | -€1 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,988 | €1,437 | -€551 | -27.7% |
| Other operating charges | 640/8 | €2,052 | €4,708 | +€2,656 | +129% |
| Gross operating margin | 9900 | €384,531 | €371,953 | -€12,578 | -3.3% |
| Operating profit (loss) | 9901 | €380,491 | €365,808 | -€14,683 | -3.9% |
| Financial income | 75/76B | - | €0 | = | |
| Recurring financial income | 75 | - | €0 | = | |
| Financial charges | 65/66B | €33,203 | €44,416 | +€11,213 | +33.8% |
| Recurring financial charges | 65 | €33,203 | €44,416 | +€11,213 | +33.8% |
| Profit (loss) for the period before taxes | 9903 | €347,288 | €321,392 | -€25,896 | -7.5% |
| Income taxes | 67/77 | €53,461 | €121,122 | +€67,661 | +127% |
| Profit (loss) for the period | 9904 | €293,827 | €200,270 | -€93,557 | -31.8% |
| Profit (loss) for the period to be appropriated | 9905 | €293,827 | €200,270 | -€93,557 | -31.8% |
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 15 October 2026 via checked.be.