FINIMVEST: 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.
FINIMVEST
Largest movements
- Tangible fixed assets +€2.2m
up €2.2m (+15.9%), from €14.0m to €16.2m
of which Assets under construction and advance payments: +€2.2m
- Receivables within one year +€1.9m
up €1.9m (+150%), from €1.3m to €3.2m
of which Trade receivables: +€1.9m
- Cash -€283,306
down €283,306 (-44.3%), from €639,232 to €355,926
mainly Investment in fixed assets (net) (-€2.5m) and Receivables within one year (-€1.9m)
- Reserves +€2.6m
up €2.6m (+587%), from €438,353 to €3.0m
of which Distributable reserves: +€1.5m
- Debts after one year +€974,032
up €974,032 (+14.7%), from €6.6m to €7.6m
- Other debts +€201,608
up €201,608 (+73.1%), from €275,718 to €477,325
- Gross operating margin +€988,531
up €988,531 (+29.8%), from €3.3m to €4.3m
- Taxes +€599,245
up €599,245 (+152%), from €394,110 to €993,355
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 | €15,905,989 | €19,772,580 | +€3.9m | +24.3% |
| Fixed assets | 21/28 | €13,959,579 | €16,172,312 | +€2.2m | +15.9% |
| Tangible fixed assets | 22/27 | €13,959,579 | €16,172,312 | +€2.2m | +15.9% |
| Land and buildings | 22 | €13,775,270 | €13,746,566 | -€28,703 | -0.2% |
| Plant, machinery and equipment | 23 | €33,179 | €27,186 | -€5,992 | -18.1% |
| Furniture and vehicles | 24 | €151,131 | €176,050 | +€24,919 | +16.5% |
| Assets under construction and advance payments | 27 | - | €2,222,510 | +€2.2m | |
| Current assets | 29/58 | €1,946,411 | €3,600,268 | +€1.7m | +85.0% |
| Amounts receivable after more than one year | 29 | €5,806 | €5,864 | +€58 | +1.0% |
| Other amounts receivable | 291 | €5,806 | €5,864 | +€58 | +1.0% |
| Amounts receivable within one year | 40/41 | €1,291,134 | €3,228,496 | +€1.9m | +150% |
| Trade receivables | 40 | €1,289,498 | €3,226,879 | +€1.9m | +150% |
| Other amounts receivable | 41 | €1,635 | €1,616 | -€19 | -1.2% |
| Cash at bank and in hand | 54/58 | €639,232 | €355,926 | -€283,306 | -44.3% |
| Deferred charges and accrued income | 490/1 | €10,239 | €9,983 | -€257 | -2.5% |
| Total equity and liabilities | 10/49 | €15,905,989 | €19,772,580 | +€3.9m | +24.3% |
| Equity | 10/15 | €8,436,297 | €11,069,185 | +€2.6m | +31.2% |
| Contributions | 10/11 | €7,932,593 | €7,932,593 | = | 0.0% |
| Capital | 10 | €7,932,593 | €7,932,593 | = | 0.0% |
| Issued capital | 100 | €7,932,593 | €7,932,593 | = | 0.0% |
| Revaluation surpluses | 12 | €126,964 | €126,964 | = | 0.0% |
| Reserves | 13 | €438,353 | €3,009,628 | +€2.6m | +587% |
| Non-distributable reserves | 130/1 | €17,353 | €96,449 | +€79,096 | +456% |
| Legal reserve | 130 | €17,353 | €96,449 | +€79,096 | +456% |
| Tax-exempt reserves | 132 | €421,000 | €1,410,350 | +€989,350 | +235% |
| Distributable reserves | 133 | - | €1,502,829 | +€1.5m | |
| Profit (loss) carried forward | 14 | -€61,613 | €0 | +€61,613 | |
| Amounts payable | 17/49 | €7,469,693 | €8,703,395 | +€1.2m | +16.5% |
| Amounts payable after more than one year | 17 | €6,647,411 | €7,621,444 | +€974,032 | +14.7% |
| Financial debts | 170/4 | €6,647,411 | €7,621,444 | +€974,032 | +14.7% |
| Amounts payable within one year | 42/48 | €821,959 | €1,081,951 | +€259,993 | +31.6% |
| Current portion of amounts payable after more than one year | 42 | €25,267 | €25,968 | +€700 | +2.8% |
| Trade debts | 44 | €122,367 | €78,785 | -€43,582 | -35.6% |
| Suppliers | 440/4 | €122,367 | €78,785 | -€43,582 | -35.6% |
| Taxes, remuneration and social security | 45 | €398,607 | €499,874 | +€101,267 | +25.4% |
| Taxes | 450/3 | €358,202 | €462,617 | +€104,415 | +29.1% |
| Remuneration and social security | 454/9 | €40,405 | €37,257 | -€3,148 | -7.8% |
| Other amounts payable | 47/48 | €275,718 | €477,325 | +€201,608 | +73.1% |
| Accrued charges and deferred income | 492/3 | €322 | €0 | -€322 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €370,159 | €354,217 | -€15,943 | -4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €275,562 | €275,286 | -€276 | -0.1% |
| Other operating charges | 640/8 | €30,514 | €31,815 | +€1,301 | +4.3% |
| Gross operating margin | 9900 | €3,320,885 | €4,309,416 | +€988,531 | +29.8% |
| Operating profit (loss) | 9901 | €2,644,650 | €3,648,098 | +€1.0m | +37.9% |
| Financial charges | 65/66B | €4,688 | €21,855 | +€17,167 | +366% |
| Recurring financial charges | 65 | €4,688 | €21,855 | +€17,167 | +366% |
| Profit (loss) for the period before taxes | 9903 | €2,639,962 | €3,626,243 | +€986,281 | +37.4% |
| Income taxes | 67/77 | €394,110 | €993,355 | +€599,245 | +152% |
| Profit (loss) for the period | 9904 | €2,245,852 | €2,632,888 | +€387,036 | +17.2% |
| Transfer to tax-exempt reserves | 689 | €421,000 | €989,350 | +€568,350 | +135% |
| Profit (loss) for the period to be appropriated | 9905 | €1,824,852 | €1,643,538 | -€181,314 | -9.9% |
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 17 October 2026 via checked.be.