FINPAR IX: 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 IX
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€6.2m
2024 · -€2.9m+€9.1m
Equity
€14.2m
2024 · €8.0m+€6.2m
Cash
€5,632
2024 · €26,330-€20,698
Balance sheet total
€120.8m
2024 · €114.4m+€6.4m
Largest movements
Assets
- Financial fixed assets +€5.7m
up €5.7m (+5.1%), from €113.6m to €119.4m
Equity and liabilities
- Profit (loss) carried forward +€6.2m
up €6.2m (+59.8%), from -€10.4m to -€4.2m
Income statement
- Financial income +€7.9m
up €7.9m (+304%), from €2.6m to €10.4m
of which Non-recurring financial income: +€5.7m
- Financial charges -€1.3m
down €1.3m (-23.8%), from €5.4m to €4.1m
of which Financial charges: -€700,189
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
-€2.9m
Other operating charges
-€3
Other operating items
-€4,964
Financial income
+€7.9m
Financial charges
+€1.3m
Taxes
-€3
Result 2025
€6.2m
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
+€5.0m
Investment
-€5.7m
Financing
+€739,824
Cash 2024
€26,330
From operations (derived)
+€5.0m
Net result for the year
+€6.2m
Receivables within one year
-€635,094
Accrued charges and deferred income
-€620,618
Investment (derived)
-€5.7m
Investment in fixed assets (net)
-€5.7m
Financing
+€739,824
Short-term financial debts
+€739,824
Cash 2025
€5,632
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €114,437,400 | €120,791,164 | +€6.4m | +5.6% |
| Fixed assets | 21/28 | €113,634,844 | €119,374,212 | +€5.7m | +5.1% |
| Financial fixed assets | 28 | €113,634,844 | €119,374,212 | +€5.7m | +5.1% |
| Affiliated companies | 280/1 | €113,634,844 | €119,374,212 | +€5.7m | +5.1% |
| Participating interests | 280 | €113,634,844 | €119,374,212 | +€5.7m | +5.1% |
| Current assets | 29/58 | €802,556 | €1,416,952 | +€614,396 | +76.6% |
| Amounts receivable within one year | 40/41 | €776,226 | €1,411,320 | +€635,094 | +81.8% |
| Other amounts receivable | 41 | €776,226 | €1,411,320 | +€635,094 | +81.8% |
| Cash at bank and in hand | 54/58 | €26,330 | €5,632 | -€20,698 | -78.6% |
| Total equity and liabilities | 10/49 | €114,437,400 | €120,791,164 | +€6.4m | +5.6% |
| Equity | 10/15 | €7,991,895 | €14,226,453 | +€6.2m | +78.0% |
| Contributions | 10/11 | €18,425,000 | €18,425,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,433,105 | -€4,198,547 | +€6.2m | +59.8% |
| Amounts payable | 17/49 | €106,445,505 | €106,564,712 | +€119,206 | +0.1% |
| Amounts payable after more than one year | 17 | €101,600,000 | €101,600,000 | = | 0.0% |
| Financial debts | 170/4 | €101,600,000 | €101,600,000 | = | 0.0% |
| Other loans | 174 | €101,600,000 | €101,600,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €3,040,638 | €3,780,462 | +€739,824 | +24.3% |
| Financial debts | 43 | €3,040,638 | €3,780,462 | +€739,824 | +24.3% |
| Other loans | 439 | €3,040,638 | €3,780,462 | +€739,824 | +24.3% |
| Accrued charges and deferred income | 492/3 | €1,804,868 | €1,184,250 | -€620,618 | -34.4% |
| Operating charges | 60/66A | €117,864 | €122,831 | +€4,967 | +4.2% |
| Services and other goods | 61 | €117,480 | €122,444 | +€4,964 | +4.2% |
| Other operating charges | 640/8 | €384 | €387 | +€3 | +0.8% |
| Operating profit (loss) | 9901 | -€117,864 | -€122,831 | -€4,967 | -4.2% |
| Financial income | 75/76B | €2,587,420 | €10,443,768 | +€7.9m | +304% |
| Recurring financial income | 75 | €2,587,420 | €4,704,400 | +€2.1m | +81.8% |
| Income from financial fixed assets | 750 | €2,587,420 | €4,704,400 | +€2.1m | +81.8% |
| Non-recurring financial income | 76B | - | €5,739,368 | +€5.7m | |
| Financial charges | 65/66B | €5,360,505 | €4,086,379 | -€1.3m | -23.8% |
| Recurring financial charges | 65 | €4,786,568 | €4,086,379 | -€700,189 | -14.6% |
| Debt charges | 650 | €4,785,956 | €4,085,753 | -€700,203 | -14.6% |
| Other financial charges | 652/9 | €612 | €626 | +€13 | +2.2% |
| Non-recurring financial charges | 66B | €573,937 | - | -€573,937 | |
| Profit (loss) for the period before taxes | 9903 | -€2,890,949 | €6,234,558 | +€9.1m | |
| Income taxes | 67/77 | -€3 | - | +€3 | |
| Tax adjustments and reversals of tax provisions | 77 | €3 | - | -€3 | |
| Profit (loss) for the period | 9904 | -€2,890,947 | €6,234,558 | +€9.1m | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,890,947 | €6,234,558 | +€9.1m |
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 19 October 2026 via checked.be.