FINEX MANAGEMENT: 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.
FINEX MANAGEMENT
Largest movements
- Receivables within one year +€12,511
up €12,511 (+92.9%), from €13,472 to €25,983
of which Trade receivables: +€11,496
- Cash -€5,832
no longer reported in 2025 (was €5,832)
mainly Receivables within one year (-€12,511) and Net result for the year (-€4,549)
- Tangible fixed assets -€2,060
down €2,060 (-16.8%), from €12,257 to €10,197
of which Land and buildings: -€1,117
- Deferred charges and accrued income -€1,669
down €1,669 (-44.2%), from €3,775 to €2,106
- Reserves -€4,549
down €4,549 (-24.3%), from €18,700 to €14,150
- Tax, wage and social debts +€3,489
up €3,489 (+47.6%), from €7,336 to €10,825
- Trade debts +€2,666
up €2,666 (+42.3%), from €6,301 to €8,967
- Short-term financial debts +€1,110
new in 2025: €1,110
- Taxes -€1,968
down €1,968 (-85.8%), from €2,293 to €325
- Gross operating margin +€1,177
up €1,177 (+54.2%), from -€2,173 to -€996
- Depreciation +€98
up €98 (+5.0%), from €1,963 to €2,060
- Financial income +€82
up €82 (+49.6%), from €165 to €247
- Other operating charges +€60
up €60 (+4.8%), from €1,257 to €1,318
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 | €35,336 | €38,286 | +€2,950 | +8.3% |
| Fixed assets | 21/28 | €12,257 | €10,197 | -€2,060 | -16.8% |
| Tangible fixed assets | 22/27 | €12,257 | €10,197 | -€2,060 | -16.8% |
| Land and buildings | 22 | €9,344 | €8,227 | -€1,117 | -12.0% |
| Plant, machinery and equipment | 23 | €1,713 | €1,285 | -€428 | -25.0% |
| Furniture and vehicles | 24 | €1,201 | €685 | -€515 | -42.9% |
| Current assets | 29/58 | €23,079 | €28,089 | +€5,010 | +21.7% |
| Amounts receivable within one year | 40/41 | €13,472 | €25,983 | +€12,511 | +92.9% |
| Trade receivables | 40 | €9,075 | €20,571 | +€11,496 | +127% |
| Other amounts receivable | 41 | €4,397 | €5,412 | +€1,015 | +23.1% |
| Cash at bank and in hand | 54/58 | €5,832 | - | -€5,832 | |
| Deferred charges and accrued income | 490/1 | €3,775 | €2,106 | -€1,669 | -44.2% |
| Total equity and liabilities | 10/49 | €35,336 | €38,286 | +€2,950 | +8.3% |
| Equity | 10/15 | €21,700 | €17,150 | -€4,549 | -21.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €18,700 | €14,150 | -€4,549 | -24.3% |
| Distributable reserves | 133 | €18,700 | €14,150 | -€4,549 | -24.3% |
| Amounts payable | 17/49 | €13,637 | €21,136 | +€7,499 | +55.0% |
| Amounts payable within one year | 42/48 | €13,637 | €21,136 | +€7,499 | +55.0% |
| Financial debts | 43 | - | €1,110 | +€1,110 | |
| Credit institutions | 430/8 | - | €1,110 | +€1,110 | |
| Trade debts | 44 | €6,301 | €8,967 | +€2,666 | +42.3% |
| Suppliers | 440/4 | €6,301 | €8,967 | +€2,666 | +42.3% |
| Taxes, remuneration and social security | 45 | €7,336 | €10,825 | +€3,489 | +47.6% |
| Taxes | 450/3 | €7,336 | €10,825 | +€3,489 | +47.6% |
| Other amounts payable | 47/48 | - | €234 | +€234 | |
| Non-recurring operating income | 76A | €4,058 | €3,805 | -€253 | -6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,963 | €2,060 | +€98 | +5.0% |
| Other operating charges | 640/8 | €1,257 | €1,318 | +€60 | +4.8% |
| Gross operating margin | 9900 | -€2,173 | -€996 | +€1,177 | +54.2% |
| Operating profit (loss) | 9901 | -€5,393 | -€4,374 | +€1,019 | +18.9% |
| Financial income | 75/76B | €165 | €247 | +€82 | +49.6% |
| Recurring financial income | 75 | €165 | €247 | +€82 | +49.6% |
| Financial charges | 65/66B | €93 | €97 | +€4 | +3.8% |
| Recurring financial charges | 65 | €93 | €97 | +€4 | +3.8% |
| Profit (loss) for the period before taxes | 9903 | -€5,321 | -€4,224 | +€1,097 | +20.6% |
| Income taxes | 67/77 | €2,293 | €325 | -€1,968 | -85.8% |
| Profit (loss) for the period | 9904 | -€7,614 | -€4,549 | +€3,065 | +40.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,614 | -€4,549 | +€3,065 | +40.3% |
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 19 October 2026 via checked.be.