FINREAL: what changed
Two fiscal 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.
FINREAL
Largest movements
- Tangible fixed assets +€262,243
up €262,243 (+17.1%), from €1.5m to €1.8m
- Debts after one year +€360,442
up €360,442 (+21.9%), from €1.6m to €2.0m
- Profit (loss) carried forward -€171,496
down €171,496 (-104.0%), from -€164,904 to -€336,400
- Other debts +€59,637
new in 2025: €59,637
- Gross operating margin +€60,950
up €60,950 (+244.6%), from €24,919 to €85,869
- Depreciation +€36,198
up €36,198 (+23.1%), from €156,488 to €192,686
- Financial charges +€26,299
up €26,299 (+78.9%), from €33,336 to €59,635
- Other operating charges +€5,043
new in 2025: €5,043
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 | €1,548,208 | €1,814,418 | +€266,210 | +17.2% |
| Fixed assets | 21/28 | €1,534,912 | €1,797,156 | +€262,243 | +17.1% |
| Tangible fixed assets | 22/27 | €1,534,912 | €1,797,156 | +€262,243 | +17.1% |
| Land and buildings | 22 | €1,534,912 | €1,797,156 | +€262,243 | +17.1% |
| Current assets | 29/58 | €13,296 | €17,262 | +€3,966 | +29.8% |
| Amounts receivable within one year | 40/41 | €12,559 | €13,729 | +€1,170 | +9.3% |
| Trade receivables | 40 | - | €12,932 | +€12,932 | |
| Other amounts receivable | 41 | €12,559 | €797 | -€11,762 | -93.7% |
| Cash at bank and in hand | 54/58 | €110 | €3,393 | +€3,284 | +2994.6% |
| Deferred charges and accrued income | 490/1 | €627 | €140 | -€487 | -77.7% |
| Total equity and liabilities | 10/49 | €1,548,208 | €1,814,418 | +€266,210 | +17.2% |
| Equity | 10/15 | -€144,904 | -€316,400 | -€171,496 | -118.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€164,904 | -€336,400 | -€171,496 | -104.0% |
| Amounts payable | 17/49 | €1,693,113 | €2,130,818 | +€437,705 | +25.9% |
| Amounts payable after more than one year | 17 | €1,649,532 | €2,009,974 | +€360,442 | +21.9% |
| Financial debts | 170/4 | €1,649,532 | €2,009,974 | +€360,442 | +21.9% |
| Amounts payable within one year | 42/48 | €43,581 | €120,844 | +€77,264 | +177.3% |
| Current portion of amounts payable after more than one year | 42 | €42,621 | €56,664 | +€14,042 | +32.9% |
| Trade debts | 44 | €959 | €4,544 | +€3,585 | +373.6% |
| Suppliers | 440/4 | €959 | €4,544 | +€3,585 | +373.6% |
| Other amounts payable | 47/48 | - | €59,637 | +€59,637 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €156,488 | €192,686 | +€36,198 | +23.1% |
| Other operating charges | 640/8 | - | €5,043 | +€5,043 | |
| Gross operating margin | 9900 | €24,919 | €85,869 | +€60,950 | +244.6% |
| Operating profit (loss) | 9901 | -€131,569 | -€111,861 | +€19,708 | +15.0% |
| Financial charges | 65/66B | €33,336 | €59,635 | +€26,299 | +78.9% |
| Recurring financial charges | 65 | €33,336 | €59,635 | +€26,299 | +78.9% |
| Profit (loss) for the period before taxes | 9903 | -€164,904 | -€171,496 | -€6,591 | -4.0% |
| Profit (loss) for the period | 9904 | -€164,904 | -€171,496 | -€6,591 | -4.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€164,904 | -€171,496 | -€6,591 | -4.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.