FINESMA: 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.
FINESMA
Largest movements
- Tangible fixed assets +€24,904
up €24,904 (+217.1%), from €11,473 to €36,376
of which Furniture and vehicles: +€25,472
- Reserves +€70,675
up €70,675 (+13.7%), from €515,276 to €585,951
- Debts after one year -€65,338
down €65,338 (-27.8%), from €234,763 to €169,425
- Current portion of long-term debt +€15,180
up €15,180 (+20.2%), from €75,278 to €90,459
- Gross operating margin +€27,423
up €27,423 (+17.4%), from €157,520 to €184,943
- Taxes +€6,771
up €6,771 (+18.8%), from €35,966 to €42,737
- Other operating charges +€3,583
up €3,583 (+217.9%), from €1,645 to €5,228
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 | €831,133 | €851,362 | +€20,230 | +2.4% |
| Formation expenses | 20 | €1,171 | €971 | -€200 | -17.1% |
| Fixed assets | 21/28 | €788,473 | €813,376 | +€24,904 | +3.2% |
| Tangible fixed assets | 22/27 | €11,473 | €36,376 | +€24,904 | +217.1% |
| Furniture and vehicles | 24 | €8,530 | €34,002 | +€25,472 | +298.6% |
| Other tangible fixed assets | 26 | €2,942 | €2,374 | -€568 | -19.3% |
| Financial fixed assets | 28 | €777,000 | €777,000 | = | 0.0% |
| Current assets | 29/58 | €41,489 | €37,015 | -€4,474 | -10.8% |
| Amounts receivable within one year | 40/41 | - | €325 | +€325 | |
| Other amounts receivable | 41 | - | €325 | +€325 | |
| Cash at bank and in hand | 54/58 | €40,507 | €35,171 | -€5,336 | -13.2% |
| Deferred charges and accrued income | 490/1 | €982 | €1,519 | +€537 | +54.7% |
| Total equity and liabilities | 10/49 | €831,133 | €851,362 | +€20,230 | +2.4% |
| Equity | 10/15 | €518,276 | €588,951 | +€70,675 | +13.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €515,276 | €585,951 | +€70,675 | +13.7% |
| Distributable reserves | 133 | €515,276 | €585,951 | +€70,675 | +13.7% |
| Amounts payable | 17/49 | €312,856 | €262,411 | -€50,445 | -16.1% |
| Amounts payable after more than one year | 17 | €234,763 | €169,425 | -€65,338 | -27.8% |
| Financial debts | 170/4 | €234,763 | €169,425 | -€65,338 | -27.8% |
| Amounts payable within one year | 42/48 | €78,027 | €92,919 | +€14,892 | +19.1% |
| Current portion of amounts payable after more than one year | 42 | €75,278 | €90,459 | +€15,180 | +20.2% |
| Financial debts | 43 | - | €152 | +€152 | |
| Credit institutions | 430/8 | - | €152 | +€152 | |
| Trade debts | 44 | €1,505 | €222 | -€1,283 | -85.2% |
| Suppliers | 440/4 | €1,505 | €222 | -€1,283 | -85.2% |
| Taxes, remuneration and social security | 45 | €966 | €1,750 | +€784 | +81.1% |
| Taxes | 450/3 | €966 | - | -€966 | |
| Remuneration and social security | 454/9 | - | €1,750 | +€1,750 | |
| Other amounts payable | 47/48 | €278 | €336 | +€59 | +21.1% |
| Accrued charges and deferred income | 492/3 | €66 | €67 | +€1 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,354 | €8,210 | +€856 | +11.6% |
| Other operating charges | 640/8 | €1,645 | €5,228 | +€3,583 | +217.9% |
| Gross operating margin | 9900 | €157,520 | €184,943 | +€27,423 | +17.4% |
| Operating profit (loss) | 9901 | €148,521 | €171,505 | +€22,984 | +15.5% |
| Financial income | 75/76B | €0 | €210 | +€210 | +2095000.0% |
| Recurring financial income | 75 | €0 | €210 | +€210 | +2095000.0% |
| Financial charges | 65/66B | €9,680 | €8,302 | -€1,378 | -14.2% |
| Recurring financial charges | 65 | €9,680 | €8,302 | -€1,378 | -14.2% |
| Profit (loss) for the period before taxes | 9903 | €138,841 | €163,413 | +€24,572 | +17.7% |
| Income taxes | 67/77 | €35,966 | €42,737 | +€6,771 | +18.8% |
| Profit (loss) for the period | 9904 | €102,875 | €120,675 | +€17,801 | +17.3% |
| Profit (loss) for the period to be appropriated | 9905 | €102,875 | €120,675 | +€17,801 | +17.3% |
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 3 October 2026 via checked.be.