FINEL: 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.
FINEL
Largest movements
- Receivables within one year +€244,031
up €244,031 (+179%), from €136,040 to €380,072
of which Trade receivables: +€143,960
- Cash +€21,864
up €21,864 (+68.2%), from €32,069 to €53,934
mainly Other debts (+€210,200) and Net result for the year (+€204,455)
- Other debts +€210,200
up €210,200 (+3,091%), from €6,800 to €217,000
- Short-term financial debts +€40,000
up €40,000 (+133%), from €30,000 to €70,000
- Trade debts +€27,305
up €27,305 (+112,829%), from €24 to €27,329
- Gross operating margin +€147,955
up €147,955 (+113%), from €131,336 to €279,291
- Taxes +€36,884
up €36,884 (+101%), from €36,435 to €73,319
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 | €1,900,110 | €2,166,005 | +€265,896 | +14.0% |
| Fixed assets | 21/28 | €1,732,000 | €1,732,000 | = | 0.0% |
| Financial fixed assets | 28 | €1,732,000 | €1,732,000 | = | 0.0% |
| Current assets | 29/58 | €168,110 | €434,005 | +€265,896 | +158% |
| Amounts receivable within one year | 40/41 | €136,040 | €380,072 | +€244,031 | +179% |
| Trade receivables | 40 | €136,040 | €280,000 | +€143,960 | +106% |
| Other amounts receivable | 41 | - | €100,072 | +€100,072 | |
| Cash at bank and in hand | 54/58 | €32,069 | €53,934 | +€21,864 | +68.2% |
| Total equity and liabilities | 10/49 | €1,900,110 | €2,166,005 | +€265,896 | +14.0% |
| Equity | 10/15 | €1,843,850 | €1,831,306 | -€12,545 | -0.7% |
| Contributions | 10/11 | €1,752,000 | €1,752,000 | = | 0.0% |
| Reserves | 13 | €90,000 | €78,500 | -€11,500 | -12.8% |
| Distributable reserves | 133 | €90,000 | €78,500 | -€11,500 | -12.8% |
| Profit (loss) carried forward | 14 | €1,850 | €806 | -€1,045 | -56.5% |
| Amounts payable | 17/49 | €56,259 | €334,700 | +€278,440 | +495% |
| Amounts payable within one year | 42/48 | €56,259 | €334,700 | +€278,440 | +495% |
| Financial debts | 43 | €30,000 | €70,000 | +€40,000 | +133% |
| Credit institutions | 430/8 | €30,000 | €70,000 | +€40,000 | +133% |
| Trade debts | 44 | €24 | €27,329 | +€27,305 | +112,829% |
| Suppliers | 440/4 | €24 | €27,329 | +€27,305 | +112,829% |
| Taxes, remuneration and social security | 45 | €19,435 | €20,371 | +€936 | +4.8% |
| Taxes | 450/3 | €19,435 | €13,986 | -€5,449 | -28.0% |
| Remuneration and social security | 454/9 | - | €6,384 | +€6,384 | |
| Other amounts payable | 47/48 | €6,800 | €217,000 | +€210,200 | +3,091% |
| Other operating charges | 640/8 | €1,367 | - | -€1,367 | |
| Non-recurring operating charges | 66A | €1,205 | - | -€1,205 | |
| Gross operating margin | 9900 | €131,336 | €279,291 | +€147,955 | +113% |
| Operating profit (loss) | 9901 | €128,764 | €279,291 | +€150,528 | +117% |
| Financial charges | 65/66B | €478 | €1,516 | +€1,038 | +217% |
| Recurring financial charges | 65 | €478 | €1,516 | +€1,038 | +217% |
| Profit (loss) for the period before taxes | 9903 | €128,285 | €277,775 | +€149,489 | +117% |
| Income taxes | 67/77 | €36,435 | €73,319 | +€36,884 | +101% |
| Profit (loss) for the period | 9904 | €91,850 | €204,455 | +€112,605 | +123% |
| Profit (loss) for the period to be appropriated | 9905 | €91,850 | €204,455 | +€112,605 | +123% |
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 14 October 2026 via checked.be.