FINESA: 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.
FINESA
Largest movements
- Stocks and contracts +€11,824
up €11,824 (+11.4%), from €103,511 to €115,336
- Tangible fixed assets -€10,614
down €10,614 (-4.8%), from €221,341 to €210,727
of which Land and buildings: -€8,254
- Receivables within one year -€4,080
down €4,080 (-20.6%), from €19,808 to €15,728
of which Trade receivables: -€4,207
- Trade debts -€7,699
down €7,699 (-60.3%), from €12,768 to €5,069
- Debts after one year -€7,161
down €7,161 (-5.3%), from €134,337 to €127,176
- Other debts +€5,882
up €5,882 (+1.7%), from €336,424 to €342,307
- Profit (loss) carried forward +€5,596
up €5,596 (+2.9%), from -€192,314 to -€186,719
- Gross operating margin +€7,583
up €7,583 (+48.3%), from €15,685 to €23,268
- Financial charges -€3,242
down €3,242 (-38.5%), from €8,413 to €5,170
- Staff costs -€2,679
down €2,679 (-79.7%), from €3,360 to €682
- Other operating charges -€1,950
down €1,950 (-64.7%), from €3,013 to €1,063
- Depreciation -€1,823
down €1,823 (-14.7%), from €12,437 to €10,614
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 | €346,226 | €345,220 | -€1,006 | -0.3% |
| Fixed assets | 21/28 | €221,341 | €210,727 | -€10,614 | -4.8% |
| Tangible fixed assets | 22/27 | €221,341 | €210,727 | -€10,614 | -4.8% |
| Land and buildings | 22 | €216,386 | €208,133 | -€8,254 | -3.8% |
| Furniture and vehicles | 24 | €4,955 | €2,595 | -€2,360 | -47.6% |
| Current assets | 29/58 | €124,885 | €134,493 | +€9,608 | +7.7% |
| Stocks and contracts in progress | 3 | €103,511 | €115,336 | +€11,824 | +11.4% |
| Stocks | 30/36 | €103,511 | €115,336 | +€11,824 | +11.4% |
| Amounts receivable within one year | 40/41 | €19,808 | €15,728 | -€4,080 | -20.6% |
| Trade receivables | 40 | €7,897 | €3,690 | -€4,207 | -53.3% |
| Other amounts receivable | 41 | €11,911 | €12,038 | +€127 | +1.1% |
| Cash at bank and in hand | 54/58 | €1,566 | €3,429 | +€1,864 | +119.0% |
| Total equity and liabilities | 10/49 | €346,226 | €345,220 | -€1,006 | -0.3% |
| Equity | 10/15 | -€173,576 | -€167,980 | +€5,596 | +3.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €138 | €138 | = | 0.0% |
| Non-distributable reserves | 130/1 | €138 | €138 | = | 0.0% |
| Reserves not available under the articles | 1311 | €138 | €138 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€192,314 | -€186,719 | +€5,596 | +2.9% |
| Amounts payable | 17/49 | €519,801 | €513,200 | -€6,601 | -1.3% |
| Amounts payable after more than one year | 17 | €134,337 | €127,176 | -€7,161 | -5.3% |
| Financial debts | 170/4 | €134,337 | €127,176 | -€7,161 | -5.3% |
| Amounts payable within one year | 42/48 | €385,465 | €386,024 | +€559 | +0.1% |
| Current portion of amounts payable after more than one year | 42 | €6,934 | €7,161 | +€227 | +3.3% |
| Trade debts | 44 | €12,768 | €5,069 | -€7,699 | -60.3% |
| Suppliers | 440/4 | €12,768 | €5,069 | -€7,699 | -60.3% |
| Taxes, remuneration and social security | 45 | €29,338 | €31,487 | +€2,149 | +7.3% |
| Taxes | 450/3 | €29,338 | €31,487 | +€2,149 | +7.3% |
| Other amounts payable | 47/48 | €336,424 | €342,307 | +€5,882 | +1.7% |
| Non-recurring operating income | 76A | €1,489 | €1,580 | +€91 | +6.1% |
| Remuneration, social security and pensions | 62 | €3,360 | €682 | -€2,679 | -79.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,437 | €10,614 | -€1,823 | -14.7% |
| Other operating charges | 640/8 | €3,013 | €1,063 | -€1,950 | -64.7% |
| Gross operating margin | 9900 | €15,685 | €23,268 | +€7,583 | +48.3% |
| Operating profit (loss) | 9901 | -€3,126 | €10,910 | +€14,035 | |
| Financial income | 75/76B | €6 | €0 | -€6 | -98.8% |
| Recurring financial income | 75 | €6 | €0 | -€6 | -98.8% |
| Financial charges | 65/66B | €8,413 | €5,170 | -€3,242 | -38.5% |
| Recurring financial charges | 65 | €8,413 | €5,170 | -€3,242 | -38.5% |
| Profit (loss) for the period before taxes | 9903 | -€11,532 | €5,739 | +€17,271 | |
| Income taxes | 67/77 | €132 | €144 | +€12 | +9.4% |
| Profit (loss) for the period | 9904 | -€11,663 | €5,596 | +€17,259 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,663 | €5,596 | +€17,259 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.