Finnobel: 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.
Finnobel
Largest movements
- Current investments +€90,000
up €90,000 (+60.0%), from €150,000 to €240,000
- Cash -€46,052
down €46,052 (-62.3%), from €73,956 to €27,904
mainly Contributions, distributions and other (-€310,935) and Current investments (-€90,000)
- Tangible fixed assets -€13,420
down €13,420 (-29.3%), from €45,819 to €32,400
of which Furniture and vehicles: -€12,528
- Deferred charges and accrued income +€10,435
up €10,435 (+213%), from €4,894 to €15,329
- Other debts +€269,956
up €269,956 (+8,677%), from €3,111 to €273,067
- Reserves -€228,019
down €228,019 (-87.4%), from €260,935 to €32,916
- Gross operating margin +€22,463
up €22,463 (+21.6%), from €103,913 to €126,376
- Taxes +€8,674
up €8,674 (+35.7%), from €24,271 to €32,945
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 | €287,084 | €331,121 | +€44,037 | +15.3% |
| Fixed assets | 21/28 | €45,819 | €32,400 | -€13,420 | -29.3% |
| Tangible fixed assets | 22/27 | €45,819 | €32,400 | -€13,420 | -29.3% |
| Plant, machinery and equipment | 23 | €2,814 | €1,922 | -€892 | -31.7% |
| Furniture and vehicles | 24 | €43,006 | €30,478 | -€12,528 | -29.1% |
| Current assets | 29/58 | €241,265 | €298,721 | +€57,456 | +23.8% |
| Amounts receivable within one year | 40/41 | €12,415 | €15,488 | +€3,073 | +24.8% |
| Trade receivables | 40 | €12,415 | €15,488 | +€3,073 | +24.8% |
| Current investments | 50/53 | €150,000 | €240,000 | +€90,000 | +60.0% |
| Cash at bank and in hand | 54/58 | €73,956 | €27,904 | -€46,052 | -62.3% |
| Deferred charges and accrued income | 490/1 | €4,894 | €15,329 | +€10,435 | +213% |
| Total equity and liabilities | 10/49 | €287,084 | €331,121 | +€44,037 | +15.3% |
| Equity | 10/15 | €265,935 | €37,916 | -€228,019 | -85.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €260,935 | €32,916 | -€228,019 | -87.4% |
| Distributable reserves | 133 | €260,935 | €32,916 | -€228,019 | -87.4% |
| Amounts payable | 17/49 | €21,149 | €293,205 | +€272,056 | +1,286% |
| Amounts payable within one year | 42/48 | €20,892 | €292,681 | +€271,789 | +1,301% |
| Trade debts | 44 | €590 | €618 | +€27 | +4.6% |
| Suppliers | 440/4 | €590 | €618 | +€27 | +4.6% |
| Taxes, remuneration and social security | 45 | €17,191 | €18,996 | +€1,806 | +10.5% |
| Taxes | 450/3 | €17,191 | €18,996 | +€1,806 | +10.5% |
| Other amounts payable | 47/48 | €3,111 | €273,067 | +€269,956 | +8,677% |
| Accrued charges and deferred income | 492/3 | €257 | €525 | +€268 | +104% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,942 | €13,420 | +€478 | +3.7% |
| Other operating charges | 640/8 | €126 | €128 | +€2 | +1.6% |
| Gross operating margin | 9900 | €103,913 | €126,376 | +€22,463 | +21.6% |
| Operating profit (loss) | 9901 | €90,845 | €112,828 | +€21,983 | +24.2% |
| Financial income | 75/76B | €3,072 | €3,743 | +€671 | +21.8% |
| Recurring financial income | 75 | €3,072 | €3,743 | +€671 | +21.8% |
| Financial charges | 65/66B | €432 | €710 | +€278 | +64.3% |
| Recurring financial charges | 65 | €432 | €710 | +€278 | +64.3% |
| Profit (loss) for the period before taxes | 9903 | €93,484 | €115,861 | +€22,376 | +23.9% |
| Income taxes | 67/77 | €24,271 | €32,945 | +€8,674 | +35.7% |
| Profit (loss) for the period | 9904 | €69,213 | €82,916 | +€13,703 | +19.8% |
| Profit (loss) for the period to be appropriated | 9905 | €69,213 | €82,916 | +€13,703 | +19.8% |
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.