FinSAG: 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.
FinSAG
Largest movements
- Cash +€63,564
up €63,564 (+79.5%), from €79,938 to €143,502
mainly Net result for the year (+€55,287) and Tax, wage and social debts (+€22,276)
- Tangible fixed assets +€7,590
up €7,590 (+17.0%), from €44,519 to €52,109
of which Furniture and vehicles: +€10,151
- Receivables within one year +€5,686
up €5,686 (+33.4%), from €17,020 to €22,706
of which Trade receivables: +€5,738
- Deferred charges and accrued income +€3,803
up €3,803 (+2604.8%), from €146 to €3,949
- Reserves +€55,000
up €55,000 (+61.8%), from €89,000 to €144,000
- Tax, wage and social debts +€22,276
up €22,276 (+117.5%), from €18,951 to €41,227
- Trade debts +€6,701
up €6,701 (+560.3%), from €1,196 to €7,897
- Debts after one year -€3,769
down €3,769 (-13.0%), from €29,011 to €25,242
- Gross operating margin +€4,880
up €4,880 (+6.6%), from €73,590 to €78,470
- Taxes +€2,469
up €2,469 (+16.5%), from €14,926 to €17,395
- Financial charges -€1,209
down €1,209 (-38.9%), from €3,105 to €1,896
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 | €147,623 | €228,266 | +€80,643 | +54.6% |
| Fixed assets | 21/28 | €50,519 | €58,109 | +€7,590 | +15.0% |
| Tangible fixed assets | 22/27 | €44,519 | €52,109 | +€7,590 | +17.0% |
| Land and buildings | 22 | €42,437 | €40,412 | -€2,025 | -4.8% |
| Plant, machinery and equipment | 23 | €2,082 | €1,546 | -€536 | -25.7% |
| Furniture and vehicles | 24 | - | €10,151 | +€10,151 | |
| Financial fixed assets | 28 | €6,000 | €6,000 | = | 0.0% |
| Current assets | 29/58 | €97,104 | €170,157 | +€73,053 | +75.2% |
| Amounts receivable within one year | 40/41 | €17,020 | €22,706 | +€5,686 | +33.4% |
| Trade receivables | 40 | €9,750 | €15,488 | +€5,738 | +58.9% |
| Other amounts receivable | 41 | €7,270 | €7,218 | -€52 | -0.7% |
| Cash at bank and in hand | 54/58 | €79,938 | €143,502 | +€63,564 | +79.5% |
| Deferred charges and accrued income | 490/1 | €146 | €3,949 | +€3,803 | +2604.8% |
| Total equity and liabilities | 10/49 | €147,623 | €228,266 | +€80,643 | +54.6% |
| Equity | 10/15 | €94,445 | €149,732 | +€55,287 | +58.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €89,000 | €144,000 | +€55,000 | +61.8% |
| Distributable reserves | 133 | €89,000 | €144,000 | +€55,000 | +61.8% |
| Profit (loss) carried forward | 14 | €445 | €732 | +€287 | +64.5% |
| Amounts payable | 17/49 | €53,178 | €78,534 | +€25,356 | +47.7% |
| Amounts payable after more than one year | 17 | €29,011 | €25,242 | -€3,769 | -13.0% |
| Financial debts | 170/4 | €29,011 | €25,242 | -€3,769 | -13.0% |
| Amounts payable within one year | 42/48 | €23,768 | €52,892 | +€29,124 | +122.5% |
| Current portion of amounts payable after more than one year | 42 | €3,621 | €3,768 | +€147 | +4.1% |
| Trade debts | 44 | €1,196 | €7,897 | +€6,701 | +560.3% |
| Suppliers | 440/4 | €1,196 | €7,897 | +€6,701 | +560.3% |
| Taxes, remuneration and social security | 45 | €18,951 | €41,227 | +€22,276 | +117.5% |
| Taxes | 450/3 | €18,951 | €41,227 | +€22,276 | +117.5% |
| Accrued charges and deferred income | 492/3 | €399 | €400 | +€1 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,976 | €2,595 | +€619 | +31.3% |
| Other operating charges | 640/8 | €763 | €1,309 | +€546 | +71.6% |
| Gross operating margin | 9900 | €73,590 | €78,470 | +€4,880 | +6.6% |
| Operating profit (loss) | 9901 | €70,851 | €74,566 | +€3,715 | +5.2% |
| Financial income | 75/76B | - | €12 | +€12 | |
| Recurring financial income | 75 | - | €12 | +€12 | |
| Financial charges | 65/66B | €3,105 | €1,896 | -€1,209 | -38.9% |
| Recurring financial charges | 65 | €3,105 | €1,896 | -€1,209 | -38.9% |
| Profit (loss) for the period before taxes | 9903 | €67,746 | €72,682 | +€4,936 | +7.3% |
| Income taxes | 67/77 | €14,926 | €17,395 | +€2,469 | +16.5% |
| Profit (loss) for the period | 9904 | €52,820 | €55,287 | +€2,467 | +4.7% |
| Profit (loss) for the period to be appropriated | 9905 | €52,820 | €55,287 | +€2,467 | +4.7% |
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 4 October 2026 via checked.be.