FINELCO: 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.
FINELCO
Largest movements
- Current investments -€24,714
down €24,714 (-46.6%), from €53,000 to €28,286
- Receivables within one year -€16,199
down €16,199 (-51.1%), from €31,731 to €15,532
of which Other amounts receivable: -€13,580
- Cash -€12,363
down €12,363 (-72.9%), from €16,948 to €4,585
mainly Contributions, distributions and other (-€116,000) and Tax, wage and social debts (-€17,867)
- Tangible fixed assets +€2,129
up €2,129 (+13.5%), from €15,762 to €17,891
of which Other tangible fixed assets: +€4,512
- Profit (loss) carried forward -€87,667
down €87,667 (-99.1%), from €88,466 to €799
- Other debts +€53,371
new in 2025: €53,371
- Tax, wage and social debts -€17,867
down €17,867 (-75.1%), from €23,791 to €5,923
- Trade debts +€1,436
up €1,436 (+202%), from €710 to €2,146
- Gross operating margin -€23,600
down €23,600 (-35.0%), from €67,499 to €43,898
- Financial income +€2,773
up €2,773 (+458%), from €605 to €3,378
- Taxes -€2,755
down €2,755 (-21.2%), from €13,015 to €10,260
- Depreciation +€1,927
up €1,927 (+91.6%), from €2,103 to €4,030
- Financial charges +€1,786
up €1,786 (+118%), from €1,516 to €3,302
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 | €117,967 | €67,240 | -€50,727 | -43.0% |
| Fixed assets | 21/28 | €15,762 | €17,891 | +€2,129 | +13.5% |
| Tangible fixed assets | 22/27 | €15,762 | €17,891 | +€2,129 | +13.5% |
| Plant, machinery and equipment | 23 | €1,010 | €2,110 | +€1,100 | +109% |
| Furniture and vehicles | 24 | €14,752 | €11,270 | -€3,483 | -23.6% |
| Other tangible fixed assets | 26 | - | €4,512 | +€4,512 | |
| Current assets | 29/58 | €102,204 | €49,349 | -€52,855 | -51.7% |
| Amounts receivable within one year | 40/41 | €31,731 | €15,532 | -€16,199 | -51.1% |
| Trade receivables | 40 | €15,881 | €13,263 | -€2,619 | -16.5% |
| Other amounts receivable | 41 | €15,850 | €2,270 | -€13,580 | -85.7% |
| Current investments | 50/53 | €53,000 | €28,286 | -€24,714 | -46.6% |
| Cash at bank and in hand | 54/58 | €16,948 | €4,585 | -€12,363 | -72.9% |
| Deferred charges and accrued income | 490/1 | €525 | €946 | +€421 | +80.2% |
| Total equity and liabilities | 10/49 | €117,967 | €67,240 | -€50,727 | -43.0% |
| Equity | 10/15 | €93,466 | €5,799 | -€87,667 | -93.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €88,466 | €799 | -€87,667 | -99.1% |
| Amounts payable | 17/49 | €24,500 | €61,441 | +€36,940 | +151% |
| Amounts payable within one year | 42/48 | €24,500 | €61,441 | +€36,940 | +151% |
| Trade debts | 44 | €710 | €2,146 | +€1,436 | +202% |
| Suppliers | 440/4 | €710 | €2,146 | +€1,436 | +202% |
| Taxes, remuneration and social security | 45 | €23,791 | €5,923 | -€17,867 | -75.1% |
| Taxes | 450/3 | €23,791 | €5,923 | -€17,867 | -75.1% |
| Other amounts payable | 47/48 | - | €53,371 | +€53,371 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,103 | €4,030 | +€1,927 | +91.6% |
| Other operating charges | 640/8 | €53 | €1,352 | +€1,299 | +2,451% |
| Non-recurring operating charges | 66A | €2,050 | - | -€2,050 | |
| Gross operating margin | 9900 | €67,499 | €43,898 | -€23,600 | -35.0% |
| Operating profit (loss) | 9901 | €63,293 | €38,517 | -€24,776 | -39.1% |
| Financial income | 75/76B | €605 | €3,378 | +€2,773 | +458% |
| Recurring financial income | 75 | €605 | €3,378 | +€2,773 | +458% |
| Financial charges | 65/66B | €1,516 | €3,302 | +€1,786 | +118% |
| Recurring financial charges | 65 | €1,516 | €3,302 | +€1,786 | +118% |
| Profit (loss) for the period before taxes | 9903 | €62,382 | €38,593 | -€23,789 | -38.1% |
| Income taxes | 67/77 | €13,015 | €10,260 | -€2,755 | -21.2% |
| Profit (loss) for the period | 9904 | €49,367 | €28,333 | -€21,034 | -42.6% |
| Profit (loss) for the period to be appropriated | 9905 | €49,367 | €28,333 | -€21,034 | -42.6% |
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 13 October 2026 via checked.be.