FINNCO: 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.
FINNCO
Largest movements
- Stocks and contracts +€458,359
up €458,359 (+86.5%), from €529,612 to €987,971
of which Contracts in progress: +€334,752
- Tangible fixed assets +€267,876
up €267,876 (+20.4%), from €1.3m to €1.6m
of which Furniture and vehicles: +€333,094
- Receivables within one year -€130,571
down €130,571 (-11.2%), from €1.2m to €1.0m
of which Other amounts receivable: -€207,754
- Deferred charges and accrued income +€83,073
up €83,073 (+264.2%), from €31,443 to €114,516
- Current portion of long-term debt +€374,791
up €374,791 (+168.8%), from €222,037 to €596,828
- Short-term financial debts +€350,000
new in 2025: €350,000
- Other debts -€117,678
down €117,678 (-19.0%), from €619,123 to €501,445
- Debts after one year +€85,336
up €85,336 (+9.1%), from €938,191 to €1.0m
- Trade debts +€53,189
up €53,189 (+16.2%), from €327,436 to €380,624
- Staff costs +€259,618
up €259,618 (+41.5%), from €625,480 to €885,098
- Gross operating margin +€127,311
up €127,311 (+8.6%), from €1.5m to €1.6m
- Depreciation +€73,893
up €73,893 (+33.3%), from €221,588 to €295,481
- Taxes -€58,729
down €58,729 (-45.7%), from €128,396 to €69,667
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 | €3,318,668 | €4,111,725 | +€793,057 | +23.9% |
| Formation expenses | 20 | - | €24,413 | +€24,413 | |
| Fixed assets | 21/28 | €1,315,283 | €1,621,683 | +€306,399 | +23.3% |
| Intangible fixed assets | 21 | - | €37,984 | +€37,984 | |
| Tangible fixed assets | 22/27 | €1,315,283 | €1,583,159 | +€267,876 | +20.4% |
| Land and buildings | 22 | €48,929 | €40,828 | -€8,102 | -16.6% |
| Plant, machinery and equipment | 23 | €632,874 | €565,139 | -€67,735 | -10.7% |
| Furniture and vehicles | 24 | €633,480 | €966,573 | +€333,094 | +52.6% |
| Other tangible fixed assets | 26 | - | €10,618 | +€10,618 | |
| Financial fixed assets | 28 | - | €540 | +€540 | |
| Current assets | 29/58 | €2,003,384 | €2,465,629 | +€462,245 | +23.1% |
| Stocks and contracts in progress | 3 | €529,612 | €987,971 | +€458,359 | +86.5% |
| Stocks | 30/36 | €251,732 | €375,339 | +€123,607 | +49.1% |
| Contracts in progress | 37 | €277,880 | €612,632 | +€334,752 | +120.5% |
| Amounts receivable within one year | 40/41 | €1,163,090 | €1,032,519 | -€130,571 | -11.2% |
| Trade receivables | 40 | €41,307 | €118,489 | +€77,182 | +186.9% |
| Other amounts receivable | 41 | €1,121,784 | €914,030 | -€207,754 | -18.5% |
| Current investments | 50/53 | - | €19,649 | +€19,649 | |
| Cash at bank and in hand | 54/58 | €279,239 | €310,975 | +€31,736 | +11.4% |
| Deferred charges and accrued income | 490/1 | €31,443 | €114,516 | +€83,073 | +264.2% |
| Total equity and liabilities | 10/49 | €3,318,668 | €4,111,725 | +€793,057 | +23.9% |
| Equity | 10/15 | €1,172,859 | €1,213,558 | +€40,699 | +3.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,154,259 | €1,194,958 | +€40,699 | +3.5% |
| Distributable reserves | 133 | €1,154,259 | €1,194,958 | +€40,699 | +3.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €2,145,808 | €2,898,167 | +€752,358 | +35.1% |
| Amounts payable after more than one year | 17 | €938,191 | €1,023,528 | +€85,336 | +9.1% |
| Financial debts | 170/4 | €938,191 | €1,023,528 | +€85,336 | +9.1% |
| Amounts payable within one year | 42/48 | €1,186,990 | €1,849,783 | +€662,792 | +55.8% |
| Current portion of amounts payable after more than one year | 42 | €222,037 | €596,828 | +€374,791 | +168.8% |
| Financial debts | 43 | - | €350,000 | +€350,000 | |
| Credit institutions | 430/8 | - | €350,000 | +€350,000 | |
| Trade debts | 44 | €327,436 | €380,624 | +€53,189 | +16.2% |
| Suppliers | 440/4 | €327,436 | €380,624 | +€53,189 | +16.2% |
| Taxes, remuneration and social security | 45 | €18,394 | €20,885 | +€2,491 | +13.5% |
| Taxes | 450/3 | €18,394 | €11,664 | -€6,731 | -36.6% |
| Remuneration and social security | 454/9 | - | €9,222 | +€9,222 | |
| Other amounts payable | 47/48 | €619,123 | €501,445 | -€117,678 | -19.0% |
| Accrued charges and deferred income | 492/3 | €20,627 | €24,856 | +€4,230 | +20.5% |
| Remuneration, social security and pensions | 62 | €625,480 | €885,098 | +€259,618 | +41.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €221,588 | €295,481 | +€73,893 | +33.3% |
| Other operating charges | 640/8 | €11,990 | €21,527 | +€9,537 | +79.5% |
| Gross operating margin | 9900 | €1,477,674 | €1,604,985 | +€127,311 | +8.6% |
| Operating profit (loss) | 9901 | €618,616 | €402,879 | -€215,737 | -34.9% |
| Financial income | 75/76B | €79,787 | €82,013 | +€2,226 | +2.8% |
| Recurring financial income | 75 | €79,787 | €82,013 | +€2,226 | +2.8% |
| Financial charges | 65/66B | €68,060 | €60,657 | -€7,403 | -10.9% |
| Recurring financial charges | 65 | €68,060 | €60,657 | -€7,403 | -10.9% |
| Profit (loss) for the period before taxes | 9903 | €630,343 | €424,236 | -€206,108 | -32.7% |
| Income taxes | 67/77 | €128,396 | €69,667 | -€58,729 | -45.7% |
| Profit (loss) for the period | 9904 | €501,947 | €354,569 | -€147,378 | -29.4% |
| Profit (loss) for the period to be appropriated | 9905 | €501,947 | €354,569 | -€147,378 | -29.4% |
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 12 October 2026 via checked.be.