FINFEL: 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.
FINFEL
Largest movements
- Current investments +€5.0m
new in 2025: €5.0m
- Cash -€124,466
down €124,466 (-69.6%), from €178,781 to €54,315
mainly Current investments (-€5.0m) and Trade debts (-€28,000)
- Reserves +€4.0m
up €4.0m (+22326.4%), from €17,800 to €4.0m
of which Distributable reserves: +€4.0m
- Provisions +€525,000
new in 2025: €525,000
- Tax, wage and social debts +€414,615
new in 2025: €414,615
- Financial income +€5.0m
up €5.0m (+142747.3%), from €3,472 to €5.0m
of which Non-recurring financial income: +€4.9m
- Provisions +€525,000
new in 2025: €525,000
- Taxes +€430,514
new in 2025: €430,514
- Gross operating margin -€15,291
down €15,291 (-1013.3%), from -€1,509 to -€16,800
- Financial charges +€11,731
up €11,731 (+1842.7%), from €637 to €12,368
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 | €210,090 | €5,095,811 | +€4.9m | +2325.5% |
| Fixed assets | 21/28 | €31,000 | - | -€31,000 | |
| Financial fixed assets | 28 | €31,000 | - | -€31,000 | |
| Current assets | 29/58 | €179,090 | €5,095,811 | +€4.9m | +2745.4% |
| Amounts receivable within one year | 40/41 | €309 | - | -€309 | |
| Other amounts receivable | 41 | €309 | - | -€309 | |
| Current investments | 50/53 | - | €5,025,000 | +€5.0m | |
| Cash at bank and in hand | 54/58 | €178,781 | €54,315 | -€124,466 | -69.6% |
| Deferred charges and accrued income | 490/1 | - | €16,496 | +€16,496 | |
| Total equity and liabilities | 10/49 | €210,090 | €5,095,811 | +€4.9m | +2325.5% |
| Equity | 10/15 | €181,589 | €4,155,695 | +€4.0m | +2188.5% |
| Contributions | 10/11 | €178,000 | €178,000 | = | 0.0% |
| Capital | 10 | €178,000 | €178,000 | = | 0.0% |
| Issued capital | 100 | €178,000 | €178,000 | = | 0.0% |
| Reserves | 13 | €17,800 | €3,991,906 | +€4.0m | +22326.4% |
| Non-distributable reserves | 130/1 | €17,800 | €17,800 | = | 0.0% |
| Legal reserve | 130 | €17,800 | €17,800 | = | 0.0% |
| Distributable reserves | 133 | - | €3,974,106 | +€4.0m | |
| Profit (loss) carried forward | 14 | -€14,211 | -€14,211 | = | 0.0% |
| Provisions and deferred taxes | 16 | - | €525,000 | +€525,000 | |
| Provisions for liabilities and charges | 160/5 | - | €525,000 | +€525,000 | |
| Other liabilities and charges | 164/5 | - | €525,000 | +€525,000 | |
| Amounts payable | 17/49 | €28,501 | €415,115 | +€386,615 | +1356.5% |
| Amounts payable within one year | 42/48 | €28,501 | €415,115 | +€386,615 | +1356.5% |
| Trade debts | 44 | €28,000 | - | -€28,000 | |
| Suppliers | 440/4 | €28,000 | - | -€28,000 | |
| Taxes, remuneration and social security | 45 | - | €414,615 | +€414,615 | |
| Taxes | 450/3 | - | €414,615 | +€414,615 | |
| Other amounts payable | 47/48 | €501 | €501 | = | 0.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €525,000 | +€525,000 | |
| Other operating charges | 640/8 | €437 | €400 | -€38 | -8.6% |
| Non-recurring operating charges | 66A | €73,071 | - | -€73,071 | |
| Gross operating margin | 9900 | -€1,509 | -€16,800 | -€15,291 | -1013.3% |
| Operating profit (loss) | 9901 | -€75,018 | -€542,200 | -€467,182 | -622.8% |
| Financial income | 75/76B | €3,472 | €4,959,188 | +€5.0m | +142747.3% |
| Recurring financial income | 75 | €3,472 | €69,495 | +€66,023 | +1901.8% |
| Non-recurring financial income | 76B | - | €4,889,694 | +€4.9m | |
| Financial charges | 65/66B | €637 | €12,368 | +€11,731 | +1842.7% |
| Recurring financial charges | 65 | €637 | €12,368 | +€11,731 | +1842.7% |
| Profit (loss) for the period before taxes | 9903 | -€72,183 | €4,404,620 | +€4.5m | |
| Income taxes | 67/77 | - | €430,514 | +€430,514 | |
| Profit (loss) for the period | 9904 | -€72,183 | €3,974,106 | +€4.0m | |
| Profit (loss) for the period to be appropriated | 9905 | -€72,183 | €3,974,106 | +€4.0m |
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 9 October 2026 via checked.be.