FINPAR IV: 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.
What changed
FINPAR IV
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€850,285
2024 · -€20,939+€871,223
Equity
€2.5m
2024 · €1.7m+€850,285
Cash
€26,498
2024 · €12,617+€13,881
Balance sheet total
€13.5m
2024 · €13.0m+€560,426
Largest movements
Assets
- Financial fixed assets +€451,254
up €451,254 (+3.5%), from €12.8m to €13.3m
Equity and liabilities
- Profit (loss) carried forward +€850,285
up €850,285 (+55.1%), from -€1.5m to -€693,883
- Debts after one year -€382,558
down €382,558 (-3.7%), from €10.5m to €10.1m
- Short-term financial debts +€166,517
up €166,517 (+62.3%), from €267,426 to €433,943
Income statement
- Financial income +€1.2m
up €1.2m (+186%), from €634,700 to €1.8m
of which Non-recurring financial income: +€823,646
- Financial charges +€306,221
up €306,221 (+50.0%), from €612,130 to €918,352
of which Non-recurring financial charges: +€397,325
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.
Result 2024
-€20,939
Other operating charges
+€367
Other operating items
-€1,044
Financial income
+€1.2m
Financial charges
-€306,221
Result 2025
€850,285
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€681,175
Investment
-€451,254
Financing
-€216,041
Cash 2024
€12,617
From operations (derived)
+€681,175
Net result for the year
+€850,285
Receivables within one year
-€95,292
Tax, wage and social debts
-€374
Accrued charges and deferred income
-€73,444
Investment (derived)
-€451,254
Investment in fixed assets (net)
-€451,254
Financing
-€216,041
Debts after one year
-€382,558
Short-term financial debts
+€166,517
Cash 2025
€26,498
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,955,784 | €13,516,210 | +€560,426 | +4.3% |
| Fixed assets | 21/28 | €12,806,607 | €13,257,860 | +€451,254 | +3.5% |
| Financial fixed assets | 28 | €12,806,607 | €13,257,860 | +€451,254 | +3.5% |
| Affiliated companies | 280/1 | €12,806,607 | €13,257,860 | +€451,254 | +3.5% |
| Participating interests | 280 | €12,806,607 | €13,257,860 | +€451,254 | +3.5% |
| Current assets | 29/58 | €149,178 | €258,350 | +€109,172 | +73.2% |
| Amounts receivable within one year | 40/41 | €136,561 | €231,852 | +€95,292 | +69.8% |
| Other amounts receivable | 41 | €136,561 | €231,852 | +€95,292 | +69.8% |
| Cash at bank and in hand | 54/58 | €12,617 | €26,498 | +€13,881 | +110% |
| Total equity and liabilities | 10/49 | €12,955,784 | €13,516,210 | +€560,426 | +4.3% |
| Equity | 10/15 | €1,656,812 | €2,507,097 | +€850,285 | +51.3% |
| Contributions | 10/11 | €3,187,980 | €3,187,980 | = | 0.0% |
| Capital | 10 | €3,187,980 | €3,187,980 | = | 0.0% |
| Issued capital | 100 | €3,187,980 | €3,187,980 | = | 0.0% |
| Reserves | 13 | €13,000 | €13,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €13,000 | €13,000 | = | 0.0% |
| Legal reserve | 130 | €13,000 | €13,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,544,168 | -€693,883 | +€850,285 | +55.1% |
| Amounts payable | 17/49 | €11,298,972 | €11,009,114 | -€289,859 | -2.6% |
| Amounts payable after more than one year | 17 | €10,456,574 | €10,074,017 | -€382,558 | -3.7% |
| Financial debts | 170/4 | €10,456,574 | €10,074,017 | -€382,558 | -3.7% |
| Credit institutions | 173 | €10,456,574 | €10,074,017 | -€382,558 | -3.7% |
| Amounts payable within one year | 42/48 | €653,083 | €819,226 | +€166,143 | +25.4% |
| Current portion of amounts payable after more than one year | 42 | €382,558 | €382,558 | = | 0.0% |
| Financial debts | 43 | €267,426 | €433,943 | +€166,517 | +62.3% |
| Other loans | 439 | €267,426 | €433,943 | +€166,517 | +62.3% |
| Taxes, remuneration and social security | 45 | €3,100 | €2,726 | -€374 | -12.1% |
| Taxes | 450/3 | €3,100 | €2,726 | -€374 | -12.1% |
| Accrued charges and deferred income | 492/3 | €189,315 | €115,871 | -€73,444 | -38.8% |
| Operating charges | 60/66A | €43,508 | €44,185 | +€677 | +1.6% |
| Services and other goods | 61 | €39,448 | €40,492 | +€1,044 | +2.6% |
| Other operating charges | 640/8 | €4,060 | €3,693 | -€367 | -9.0% |
| Operating profit (loss) | 9901 | -€43,508 | -€44,185 | -€677 | -1.6% |
| Financial income | 75/76B | €634,700 | €1,812,821 | +€1.2m | +186% |
| Recurring financial income | 75 | €515,481 | €869,957 | +€354,476 | +68.8% |
| Income from financial fixed assets | 750 | €515,481 | €869,957 | +€354,476 | +68.8% |
| Non-recurring financial income | 76B | €119,219 | €942,865 | +€823,646 | +691% |
| Financial charges | 65/66B | €612,130 | €918,352 | +€306,221 | +50.0% |
| Recurring financial charges | 65 | €517,844 | €426,740 | -€91,104 | -17.6% |
| Debt charges | 650 | €501,361 | €409,238 | -€92,123 | -18.4% |
| Other financial charges | 652/9 | €16,483 | €17,502 | +€1,019 | +6.2% |
| Non-recurring financial charges | 66B | €94,286 | €491,611 | +€397,325 | +421% |
| Profit (loss) for the period before taxes | 9903 | -€20,939 | €850,285 | +€871,223 | |
| Profit (loss) for the period | 9904 | -€20,939 | €850,285 | +€871,223 | |
| Profit (loss) for the period to be appropriated | 9905 | -€20,939 | €850,285 | +€871,223 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.