Finova: 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.
Finova
Largest movements
- Cash -€17,768
down €17,768 (-20.6%), from €86,213 to €68,446
mainly Contributions, distributions and other (-€145,000) and Investment in fixed assets (net) (-€3,839)
- Tangible fixed assets +€3,204
new in 2025: €3,204
- Other debts +€58,929
up €58,929 (+821.6%), from €7,173 to €66,102
- Profit (loss) carried forward -€53,007
down €53,007 (-55.9%), from €94,804 to €41,796
- Reserves -€20,000
down €20,000 (-91.5%), from €21,860 to €1,860
of which Distributable reserves: -€20,000
- Gross operating margin +€6,798
up €6,798 (+7.9%), from €85,737 to €92,535
- Taxes +€1,276
up €1,276 (+7.2%), from €17,806 to €19,082
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 | €132,240 | €116,904 | -€15,335 | -11.6% |
| Fixed assets | 21/28 | - | €3,204 | +€3,204 | |
| Tangible fixed assets | 22/27 | - | €3,204 | +€3,204 | |
| Furniture and vehicles | 24 | - | €3,204 | +€3,204 | |
| Current assets | 29/58 | €132,240 | €113,701 | -€18,539 | -14.0% |
| Amounts receivable within one year | 40/41 | €16,026 | €15,255 | -€771 | -4.8% |
| Trade receivables | 40 | €13,829 | €14,337 | +€508 | +3.7% |
| Other amounts receivable | 41 | €2,198 | €918 | -€1,280 | -58.2% |
| Current investments | 50/53 | €30,000 | €30,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €86,213 | €68,446 | -€17,768 | -20.6% |
| Total equity and liabilities | 10/49 | €132,240 | €116,904 | -€15,335 | -11.6% |
| Equity | 10/15 | €116,664 | €43,656 | -€73,007 | -62.6% |
| Reserves | 13 | €21,860 | €1,860 | -€20,000 | -91.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €20,000 | €0 | -€20,000 | -100.0% |
| Profit (loss) carried forward | 14 | €94,804 | €41,796 | -€53,007 | -55.9% |
| Amounts payable | 17/49 | €15,576 | €73,248 | +€57,672 | +370.3% |
| Amounts payable within one year | 42/48 | €15,576 | €73,248 | +€57,672 | +370.3% |
| Trade debts | 44 | €262 | €170 | -€92 | -35.1% |
| Suppliers | 440/4 | €262 | €170 | -€92 | -35.1% |
| Taxes, remuneration and social security | 45 | €8,142 | €6,977 | -€1,165 | -14.3% |
| Taxes | 450/3 | €8,142 | €6,977 | -€1,165 | -14.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €7,173 | €66,102 | +€58,929 | +821.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €635 | +€635 | |
| Other operating charges | 640/8 | €1,230 | €921 | -€309 | -25.1% |
| Gross operating margin | 9900 | €85,737 | €92,535 | +€6,798 | +7.9% |
| Operating profit (loss) | 9901 | €84,507 | €90,979 | +€6,471 | +7.7% |
| Financial income | 75/76B | - | €288 | +€288 | |
| Recurring financial income | 75 | - | €288 | +€288 | |
| Financial charges | 65/66B | €224 | €192 | -€31 | -14.0% |
| Recurring financial charges | 65 | €224 | €192 | -€31 | -14.0% |
| Profit (loss) for the period before taxes | 9903 | €84,284 | €91,075 | +€6,791 | +8.1% |
| Income taxes | 67/77 | €17,806 | €19,082 | +€1,276 | +7.2% |
| Profit (loss) for the period | 9904 | €66,478 | €71,993 | +€5,515 | +8.3% |
| Profit (loss) for the period to be appropriated | 9905 | €66,478 | €71,993 | +€5,515 | +8.3% |
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 9 October 2026 via checked.be.