FINOMARKER: 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.
FINOMARKER
Largest movements
- Intangible fixed assets +€315,382
up €315,382 (+79.0%), from €399,254 to €714,636
- Receivables within one year +€68,497
up €68,497 (+295.1%), from €23,210 to €91,706
of which Trade receivables: +€76,064
- Cash -€66,080
down €66,080 (-91.4%), from €72,266 to €6,185
mainly Investment in fixed assets (net) (-€385,311) and Net result for the year (-€106,925)
- Contributions +€299,991
up €299,991 (+79.7%), from €376,569 to €676,560
- Profit (loss) carried forward -€106,916
down €106,916 (-553.5%), from -€19,316 to -€126,232
- Debts after one year +€100,000
new in 2025: €100,000
- Trade debts +€35,234
up €35,234 (+36.0%), from €97,999 to €133,232
- Other debts -€11,441
down €11,441 (-49.8%), from €22,975 to €11,534
- Gross operating margin -€106,391
down €106,391 (-57.1%), from €186,369 to €79,978
- Depreciation +€38,843
up €38,843 (+123.9%), from €31,352 to €70,194
- Staff costs -€17,113
down €17,113 (-13.1%), from €130,648 to €113,535
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 | €498,479 | €813,494 | +€315,015 | +63.2% |
| Fixed assets | 21/28 | €399,519 | €714,636 | +€315,117 | +78.9% |
| Intangible fixed assets | 21 | €399,254 | €714,636 | +€315,382 | +79.0% |
| Tangible fixed assets | 22/27 | €265 | €0 | -€265 | -100.0% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €265 | €0 | -€265 | -100.0% |
| Current assets | 29/58 | €98,960 | €98,858 | -€102 | -0.1% |
| Amounts receivable within one year | 40/41 | €23,210 | €91,706 | +€68,497 | +295.1% |
| Trade receivables | 40 | €48 | €76,112 | +€76,064 | +158169.9% |
| Other amounts receivable | 41 | €23,162 | €15,594 | -€7,567 | -32.7% |
| Cash at bank and in hand | 54/58 | €72,266 | €6,185 | -€66,080 | -91.4% |
| Deferred charges and accrued income | 490/1 | €3,484 | €966 | -€2,518 | -72.3% |
| Total equity and liabilities | 10/49 | €498,479 | €813,494 | +€315,015 | +63.2% |
| Equity | 10/15 | €358,453 | €551,528 | +€193,075 | +53.9% |
| Contributions | 10/11 | €376,569 | €676,560 | +€299,991 | +79.7% |
| Capital | 10 | €376,569 | €676,560 | +€299,991 | +79.7% |
| Issued capital | 100 | €376,569 | €676,560 | +€299,991 | +79.7% |
| Reserves | 13 | €1,200 | €1,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,200 | €1,200 | = | 0.0% |
| Legal reserve | 130 | €1,200 | €1,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,316 | -€126,232 | -€106,916 | -553.5% |
| Amounts payable | 17/49 | €140,026 | €261,966 | +€121,940 | +87.1% |
| Amounts payable after more than one year | 17 | - | €100,000 | +€100,000 | |
| Financial debts | 170/4 | - | €100,000 | +€100,000 | |
| Amounts payable within one year | 42/48 | €138,531 | €161,966 | +€23,435 | +16.9% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €4,958 | €0 | -€4,958 | -100.0% |
| Credit institutions | 430/8 | €4,958 | €0 | -€4,958 | -100.0% |
| Trade debts | 44 | €97,999 | €133,232 | +€35,234 | +36.0% |
| Suppliers | 440/4 | €97,999 | €133,232 | +€35,234 | +36.0% |
| Advances received on contracts in progress | 46 | €1,803 | €1,803 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €10,796 | €15,397 | +€4,601 | +42.6% |
| Taxes | 450/3 | €408 | €563 | +€155 | +38.0% |
| Remuneration and social security | 454/9 | €10,388 | €14,834 | +€4,445 | +42.8% |
| Other amounts payable | 47/48 | €22,975 | €11,534 | -€11,441 | -49.8% |
| Accrued charges and deferred income | 492/3 | €1,495 | €0 | -€1,495 | -100.0% |
| Remuneration, social security and pensions | 62 | €130,648 | €113,535 | -€17,113 | -13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,352 | €70,194 | +€38,843 | +123.9% |
| Other operating charges | 640/8 | €657 | €1,176 | +€519 | +79.0% |
| Gross operating margin | 9900 | €186,369 | €79,978 | -€106,391 | -57.1% |
| Operating profit (loss) | 9901 | €23,712 | -€104,927 | -€128,639 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €646 | €1,814 | +€1,168 | +181.0% |
| Recurring financial charges | 65 | €646 | €1,814 | +€1,168 | +181.0% |
| Profit (loss) for the period before taxes | 9903 | €23,067 | -€106,741 | -€129,807 | |
| Income taxes | 67/77 | €408 | €184 | -€224 | -54.8% |
| Profit (loss) for the period | 9904 | €22,659 | -€106,925 | -€129,584 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,659 | -€106,925 | -€129,584 |
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 11 October 2026 via checked.be.