FINES TERRAE: 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.
FINES TERRAE
Largest movements
- Receivables within one year -€64,996
down €64,996 (-65.4%), from €99,333 to €34,338
of which Trade receivables: -€65,687
- Financial fixed assets +€53,271
new in 2025: €53,271
- Cash -€31,965
down €31,965 (-49.3%), from €64,902 to €32,937
mainly Investment in fixed assets (net) (-€55,318) and Receivables after one year (-€25,000)
- Receivables after one year +€25,000
new in 2025: €25,000
- Tangible fixed assets -€10,140
down €10,140 (-27.7%), from €36,632 to €26,492
of which Leasing and similar rights: -€9,536
- Tax, wage and social debts -€13,179
down €13,179 (-60.9%), from €21,638 to €8,459
of which Taxes: -€11,179
- Contributions -€12,400
down €12,400 (-100%), from €12,400 to €0
- Debts after one year -€9,747
down €9,747 (-66.4%), from €14,675 to €4,928
- Other debts +€5,956
up €5,956 (+111%), from €5,370 to €11,326
- Trade debts +€4,507
up €4,507 (+378%), from €1,194 to €5,701
- Gross operating margin -€78,334
down €78,334 (-85.1%), from €92,057 to €13,723
- Depreciation +€1,151
up €1,151 (+10.4%), from €11,036 to €12,186
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 | €202,216 | €173,096 | -€29,120 | -14.4% |
| Fixed assets | 21/28 | €36,632 | €79,763 | +€43,131 | +118% |
| Tangible fixed assets | 22/27 | €36,632 | €26,492 | -€10,140 | -27.7% |
| Land and buildings | 22 | €10,610 | €9,461 | -€1,149 | -10.8% |
| Plant, machinery and equipment | 23 | €1,359 | €1,904 | +€545 | +40.1% |
| Leasing and similar rights | 25 | €24,663 | €15,127 | -€9,536 | -38.7% |
| Financial fixed assets | 28 | - | €53,271 | +€53,271 | |
| Current assets | 29/58 | €165,584 | €93,333 | -€72,251 | -43.6% |
| Amounts receivable after more than one year | 29 | - | €25,000 | +€25,000 | |
| Other amounts receivable | 291 | - | €25,000 | +€25,000 | |
| Amounts receivable within one year | 40/41 | €99,333 | €34,338 | -€64,996 | -65.4% |
| Trade receivables | 40 | €96,398 | €30,711 | -€65,687 | -68.1% |
| Other amounts receivable | 41 | €2,936 | €3,626 | +€691 | +23.5% |
| Cash at bank and in hand | 54/58 | €64,902 | €32,937 | -€31,965 | -49.3% |
| Deferred charges and accrued income | 490/1 | €1,348 | €1,058 | -€290 | -21.5% |
| Total equity and liabilities | 10/49 | €202,216 | €173,096 | -€29,120 | -14.4% |
| Equity | 10/15 | €144,442 | €131,622 | -€12,819 | -8.9% |
| Contributions | 10/11 | €12,400 | €0 | -€12,400 | -100% |
| Reserves | 13 | €132,042 | €131,622 | -€419 | -0.3% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €130,182 | €131,622 | +€1,441 | +1.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €57,775 | €41,474 | -€16,301 | -28.2% |
| Amounts payable after more than one year | 17 | €14,675 | €4,928 | -€9,747 | -66.4% |
| Financial debts | 170/4 | €14,675 | €4,928 | -€9,747 | -66.4% |
| Amounts payable within one year | 42/48 | €43,100 | €36,295 | -€6,805 | -15.8% |
| Current portion of amounts payable after more than one year | 42 | €9,605 | €9,747 | +€143 | +1.5% |
| Financial debts | 43 | €5,294 | €1,063 | -€4,231 | -79.9% |
| Credit institutions | 430/8 | €5,294 | €1,063 | -€4,231 | -79.9% |
| Trade debts | 44 | €1,194 | €5,701 | +€4,507 | +378% |
| Suppliers | 440/4 | €1,194 | €5,701 | +€4,507 | +378% |
| Taxes, remuneration and social security | 45 | €21,638 | €8,459 | -€13,179 | -60.9% |
| Taxes | 450/3 | €19,638 | €8,459 | -€11,179 | -56.9% |
| Remuneration and social security | 454/9 | €2,000 | €0 | -€2,000 | -100% |
| Other amounts payable | 47/48 | €5,370 | €11,326 | +€5,956 | +111% |
| Accrued charges and deferred income | 492/3 | - | €251 | +€251 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,036 | €12,186 | +€1,151 | +10.4% |
| Other operating charges | 640/8 | €1,787 | €1,784 | -€3 | -0.2% |
| Gross operating margin | 9900 | €92,057 | €13,723 | -€78,334 | -85.1% |
| Operating profit (loss) | 9901 | €79,235 | -€247 | -€79,482 | |
| Financial income | 75/76B | €1 | €827 | +€826 | +80,152% |
| Recurring financial income | 75 | €1 | €827 | +€826 | +80,152% |
| Financial charges | 65/66B | €573 | €846 | +€274 | +47.8% |
| Recurring financial charges | 65 | €573 | €846 | +€274 | +47.8% |
| Profit (loss) for the period before taxes | 9903 | €78,663 | -€267 | -€78,930 | |
| Income taxes | 67/77 | €160 | €153 | -€8 | -4.9% |
| Profit (loss) for the period | 9904 | €78,503 | -€419 | -€78,922 | |
| Profit (loss) for the period to be appropriated | 9905 | €78,503 | -€419 | -€78,922 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.