FINSA: 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.
FINSA
Largest movements
- Cash -€133,197
down €133,197 (-57.6%), from €231,423 to €98,226
mainly Investment in fixed assets (net) (-€71,189) and Current investments (-€60,418)
- Current investments +€60,418
up €60,418 (+3.6%), from €1.7m to €1.7m
- Tangible fixed assets +€56,951
new in 2025: €56,951
- Receivables within one year +€44,994
up €44,994 (+18.2%), from €247,599 to €292,593
of which Other amounts receivable: +€44,994
- Other debts +€46,666
up €46,666 (+12.9%), from €362,043 to €408,709
- Financial income -€96,683
down €96,683 (-78.4%), from €123,257 to €26,574
- Depreciation +€14,238
new in 2025: €14,238
- Gross operating margin +€8,906
up €8,906 (+71.3%), from -€12,486 to -€3,581
- Financial charges +€8,694
up €8,694 (+372.0%), from €2,337 to €11,031
- Taxes +€8,460
up €8,460, from -€1,299 to €7,161
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 | €3,546,699 | €3,575,866 | +€29,166 | +0.8% |
| Fixed assets | 21/28 | €1,401,885 | €1,458,836 | +€56,951 | +4.1% |
| Tangible fixed assets | 22/27 | - | €56,951 | +€56,951 | |
| Furniture and vehicles | 24 | - | €56,951 | +€56,951 | |
| Financial fixed assets | 28 | €1,401,885 | €1,401,885 | = | 0.0% |
| Current assets | 29/58 | €2,144,814 | €2,117,029 | -€27,785 | -1.3% |
| Amounts receivable within one year | 40/41 | €247,599 | €292,593 | +€44,994 | +18.2% |
| Trade receivables | 40 | €1,000 | €1,000 | = | 0.0% |
| Other amounts receivable | 41 | €246,599 | €291,593 | +€44,994 | +18.2% |
| Current investments | 50/53 | €1,665,793 | €1,726,211 | +€60,418 | +3.6% |
| Cash at bank and in hand | 54/58 | €231,423 | €98,226 | -€133,197 | -57.6% |
| Total equity and liabilities | 10/49 | €3,546,699 | €3,575,866 | +€29,166 | +0.8% |
| Equity | 10/15 | €3,115,966 | €3,102,579 | -€13,387 | -0.4% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €80,000 | €80,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €80,000 | €80,000 | = | 0.0% |
| Legal reserve | 130 | €80,000 | €80,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,974,466 | €2,961,079 | -€13,387 | -0.5% |
| Amounts payable | 17/49 | €430,733 | €473,286 | +€42,553 | +9.9% |
| Amounts payable within one year | 42/48 | €430,733 | €473,286 | +€42,553 | +9.9% |
| Trade debts | 44 | €68,691 | €64,577 | -€4,113 | -6.0% |
| Suppliers | 440/4 | €68,691 | €64,577 | -€4,113 | -6.0% |
| Other amounts payable | 47/48 | €362,043 | €408,709 | +€46,666 | +12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €14,238 | +€14,238 | |
| Other operating charges | 640/8 | €3,431 | €3,951 | +€520 | +15.2% |
| Gross operating margin | 9900 | -€12,486 | -€3,581 | +€8,906 | +71.3% |
| Operating profit (loss) | 9901 | -€15,917 | -€21,769 | -€5,852 | -36.8% |
| Financial income | 75/76B | €123,257 | €26,574 | -€96,683 | -78.4% |
| Recurring financial income | 75 | €123,257 | €26,574 | -€96,683 | -78.4% |
| Financial charges | 65/66B | €2,337 | €11,031 | +€8,694 | +372.0% |
| Recurring financial charges | 65 | €2,337 | €11,031 | +€8,694 | +372.0% |
| Profit (loss) for the period before taxes | 9903 | €105,003 | -€6,226 | -€111,229 | |
| Income taxes | 67/77 | -€1,299 | €7,161 | +€8,460 | |
| Profit (loss) for the period | 9904 | €106,302 | -€13,387 | -€119,689 | |
| Profit (loss) for the period to be appropriated | 9905 | €106,302 | -€13,387 | -€119,689 |
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 3 October 2026 via checked.be.