FINEC: 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.
FINEC
Largest movements
- Cash +€205,270
up €205,270 (+13.3%), from €1.5m to €1.7m
mainly Net result for the year (+€133,729) and Receivables after one year (+€100,000)
- Receivables within one year +€115,570
up €115,570 (+22.2%), from €521,123 to €636,693
of which Other amounts receivable: +€82,900
- Receivables after one year -€100,000
down €100,000 (-15.4%), from €650,000 to €550,000
- Tangible fixed assets -€74,379
down €74,379 (-14.4%), from €516,069 to €441,690
of which Land and buildings: -€42,456
- Reserves +€133,500
up €133,500 (+35.1%), from €380,392 to €513,892
of which Distributable reserves: +€133,500
- Trade debts +€38,435
up €38,435 (+45.9%), from €83,717 to €122,151
- Gross operating margin -€167,656
down €167,656 (-35.3%), from €474,378 to €306,722
- Taxes -€56,966
down €56,966 (-47.0%), from €121,228 to €64,262
- Other operating charges +€6,833
up €6,833 (+16.2%), from €42,247 to €49,081
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 | €3,239,965 | €3,385,529 | +€145,563 | +4.5% |
| Fixed assets | 21/28 | €517,316 | €442,937 | -€74,379 | -14.4% |
| Tangible fixed assets | 22/27 | €516,069 | €441,690 | -€74,379 | -14.4% |
| Land and buildings | 22 | €417,290 | €374,835 | -€42,456 | -10.2% |
| Plant, machinery and equipment | 23 | €98,778 | €66,855 | -€31,923 | -32.3% |
| Financial fixed assets | 28 | €1,247 | €1,247 | = | 0.0% |
| Current assets | 29/58 | €2,722,650 | €2,942,592 | +€219,942 | +8.1% |
| Amounts receivable after more than one year | 29 | €650,000 | €550,000 | -€100,000 | -15.4% |
| Other amounts receivable | 291 | €650,000 | €550,000 | -€100,000 | -15.4% |
| Amounts receivable within one year | 40/41 | €521,123 | €636,693 | +€115,570 | +22.2% |
| Trade receivables | 40 | €294,834 | €327,504 | +€32,670 | +11.1% |
| Other amounts receivable | 41 | €226,288 | €309,188 | +€82,900 | +36.6% |
| Cash at bank and in hand | 54/58 | €1,538,839 | €1,744,109 | +€205,270 | +13.3% |
| Deferred charges and accrued income | 490/1 | €12,687 | €11,790 | -€898 | -7.1% |
| Total equity and liabilities | 10/49 | €3,239,965 | €3,385,529 | +€145,563 | +4.5% |
| Equity | 10/15 | €3,101,212 | €3,234,941 | +€133,729 | +4.3% |
| Contributions | 10/11 | €1,303,920 | €1,303,920 | = | 0.0% |
| Capital | 10 | €1,303,920 | €1,303,920 | = | 0.0% |
| Issued capital | 100 | €1,303,920 | €1,303,920 | = | 0.0% |
| Reserves | 13 | €380,392 | €513,892 | +€133,500 | +35.1% |
| Non-distributable reserves | 130/1 | €130,392 | €130,392 | = | 0.0% |
| Legal reserve | 130 | €130,392 | €130,392 | = | 0.0% |
| Distributable reserves | 133 | €250,000 | €383,500 | +€133,500 | +53.4% |
| Profit (loss) carried forward | 14 | €1,416,900 | €1,417,129 | +€229 | 0.0% |
| Amounts payable | 17/49 | €138,753 | €150,587 | +€11,834 | +8.5% |
| Amounts payable within one year | 42/48 | €137,253 | €149,087 | +€11,834 | +8.6% |
| Trade debts | 44 | €83,717 | €122,151 | +€38,435 | +45.9% |
| Suppliers | 440/4 | €83,717 | €122,151 | +€38,435 | +45.9% |
| Taxes, remuneration and social security | 45 | €40,147 | €13,209 | -€26,938 | -67.1% |
| Taxes | 450/3 | €40,147 | €13,209 | -€26,938 | -67.1% |
| Other amounts payable | 47/48 | €13,390 | €13,727 | +€337 | +2.5% |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,023 | €74,379 | -€644 | -0.9% |
| Other operating charges | 640/8 | €42,247 | €49,081 | +€6,833 | +16.2% |
| Gross operating margin | 9900 | €474,378 | €306,722 | -€167,656 | -35.3% |
| Operating profit (loss) | 9901 | €357,108 | €183,262 | -€173,845 | -48.7% |
| Financial income | 75/76B | €16,167 | €15,172 | -€995 | -6.2% |
| Recurring financial income | 75 | €16,167 | €15,172 | -€995 | -6.2% |
| Financial charges | 65/66B | €422 | €443 | +€21 | +4.9% |
| Recurring financial charges | 65 | €422 | €443 | +€21 | +4.9% |
| Profit (loss) for the period before taxes | 9903 | €372,852 | €197,991 | -€174,861 | -46.9% |
| Income taxes | 67/77 | €121,228 | €64,262 | -€56,966 | -47.0% |
| Profit (loss) for the period | 9904 | €251,624 | €133,729 | -€117,895 | -46.9% |
| Profit (loss) for the period to be appropriated | 9905 | €251,624 | €133,729 | -€117,895 | -46.9% |
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 8 October 2026 via checked.be.