FineST: 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.
FineST
Largest movements
- Receivables within one year -€82,096
down €82,096 (-77.7%), from €105,690 to €23,594
of which Other amounts receivable: -€88,307
- Tangible fixed assets +€9,324
up €9,324 (+2279.8%), from €409 to €9,733
- Current investments -€6,643
down €6,643 (-42.7%), from €15,569 to €8,926
- Receivables after one year +€3,695
up €3,695 (+8.0%), from €46,077 to €49,772
- Reserves -€127,446
down €127,446 (-94.5%), from €134,870 to €7,423
- Accrued charges and deferred income +€40,797
new in 2025: €40,797
- Short-term financial debts +€12,941
up €12,941 (+110.7%), from €11,691 to €24,632
- Tax, wage and social debts -€5,805
down €5,805 (-24.9%), from €23,304 to €17,499
- Trade debts +€2,288
up €2,288 (+94.6%), from €2,417 to €4,705
- Gross operating margin +€16,721
up €16,721 (+23.8%), from €70,212 to €86,933
- Depreciation +€4,345
up €4,345 (+729.3%), from €596 to €4,941
- Taxes +€2,707
up €2,707 (+17.3%), from €15,630 to €18,337
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €174,282 | €97,056 | -€77,226 | -44.3% |
| Formation expenses | 20 | €494 | €267 | -€227 | -46.0% |
| Fixed assets | 21/28 | €409 | €9,733 | +€9,324 | +2279.8% |
| Tangible fixed assets | 22/27 | €409 | €9,733 | +€9,324 | +2279.8% |
| Furniture and vehicles | 24 | €409 | €9,733 | +€9,324 | +2279.8% |
| Current assets | 29/58 | €173,379 | €87,056 | -€86,323 | -49.8% |
| Amounts receivable after more than one year | 29 | €46,077 | €49,772 | +€3,695 | +8.0% |
| Other amounts receivable | 291 | €46,077 | €49,772 | +€3,695 | +8.0% |
| Amounts receivable within one year | 40/41 | €105,690 | €23,594 | -€82,096 | -77.7% |
| Trade receivables | 40 | €3,383 | €9,594 | +€6,211 | +183.6% |
| Other amounts receivable | 41 | €102,307 | €14,000 | -€88,307 | -86.3% |
| Current investments | 50/53 | €15,569 | €8,926 | -€6,643 | -42.7% |
| Deferred charges and accrued income | 490/1 | €6,043 | €4,764 | -€1,279 | -21.2% |
| Total equity and liabilities | 10/49 | €174,282 | €97,056 | -€77,226 | -44.3% |
| Equity | 10/15 | €136,870 | €9,423 | -€127,446 | -93.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €134,870 | €7,423 | -€127,446 | -94.5% |
| Distributable reserves | 133 | €134,870 | €7,423 | -€127,446 | -94.5% |
| Amounts payable | 17/49 | €37,412 | €87,633 | +€50,220 | +134.2% |
| Amounts payable within one year | 42/48 | €37,412 | €46,836 | +€9,423 | +25.2% |
| Financial debts | 43 | €11,691 | €24,632 | +€12,941 | +110.7% |
| Credit institutions | 430/8 | €11,691 | €24,632 | +€12,941 | +110.7% |
| Trade debts | 44 | €2,417 | €4,705 | +€2,288 | +94.6% |
| Suppliers | 440/4 | €2,417 | €4,705 | +€2,288 | +94.6% |
| Taxes, remuneration and social security | 45 | €23,304 | €17,499 | -€5,805 | -24.9% |
| Taxes | 450/3 | €23,304 | €17,499 | -€5,805 | -24.9% |
| Accrued charges and deferred income | 492/3 | - | €40,797 | +€40,797 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €596 | €4,941 | +€4,345 | +729.3% |
| Other operating charges | 640/8 | €371 | €905 | +€534 | +144.1% |
| Gross operating margin | 9900 | €70,212 | €86,933 | +€16,721 | +23.8% |
| Operating profit (loss) | 9901 | €69,246 | €81,087 | +€11,841 | +17.1% |
| Financial income | 75/76B | €5,341 | €5,380 | +€38 | +0.7% |
| Recurring financial income | 75 | €5,341 | €5,380 | +€38 | +0.7% |
| Financial charges | 65/66B | €830 | €706 | -€125 | -15.0% |
| Recurring financial charges | 65 | €830 | €706 | -€125 | -15.0% |
| Profit (loss) for the period before taxes | 9903 | €73,756 | €85,760 | +€12,004 | +16.3% |
| Income taxes | 67/77 | €15,630 | €18,337 | +€2,707 | +17.3% |
| Profit (loss) for the period | 9904 | €58,126 | €67,423 | +€9,297 | +16.0% |
| Profit (loss) for the period to be appropriated | 9905 | €58,126 | €67,423 | +€9,297 | +16.0% |
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 6 October 2026 via checked.be.