FinSer: 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.
FinSer
Largest movements
- Cash -€153,967
down €153,967 (-66.9%), from €229,985 to €76,018
mainly Other debts (-€155,523) and Receivables after one year (-€50,000)
- Receivables after one year +€50,000
new in 2025: €50,000
- Deferred charges and accrued income -€44,760
down €44,760 (-96.8%), from €46,260 to €1,500
- Receivables within one year -€28,507
down €28,507 (-12.7%), from €224,893 to €196,386
of which Other amounts receivable: -€23,177
- Other debts -€155,523
down €155,523 (-47.7%), from €325,788 to €170,265
- Profit (loss) carried forward -€26,974
down €26,974 (-67.2%), from €40,115 to €13,141
- Financial income -€35,950
down €35,950 (-80.3%), from €44,760 to €8,810
of which Non-recurring financial income: -€44,760
- Financial charges -€24,845
down €24,845 (-42.8%), from €58,071 to €33,225
of which Non-recurring financial charges: -€35,808
- Gross operating margin -€16,278
down €16,278 (-61.7%), from €26,391 to €10,112
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 | €2,306,116 | €2,122,115 | -€184,000 | -8.0% |
| Fixed assets | 21/28 | €1,804,978 | €1,798,211 | -€6,767 | -0.4% |
| Intangible fixed assets | 21 | €155,556 | €155,556 | = | 0.0% |
| Tangible fixed assets | 22/27 | €165,616 | €158,849 | -€6,767 | -4.1% |
| Land and buildings | 22 | €165,616 | €158,849 | -€6,767 | -4.1% |
| Financial fixed assets | 28 | €1,483,805 | €1,483,805 | = | 0.0% |
| Current assets | 29/58 | €501,138 | €323,904 | -€177,234 | -35.4% |
| Amounts receivable after more than one year | 29 | - | €50,000 | +€50,000 | |
| Other amounts receivable | 291 | - | €50,000 | +€50,000 | |
| Amounts receivable within one year | 40/41 | €224,893 | €196,386 | -€28,507 | -12.7% |
| Trade receivables | 40 | €6,050 | €720 | -€5,330 | -88.1% |
| Other amounts receivable | 41 | €218,843 | €195,666 | -€23,177 | -10.6% |
| Cash at bank and in hand | 54/58 | €229,985 | €76,018 | -€153,967 | -66.9% |
| Deferred charges and accrued income | 490/1 | €46,260 | €1,500 | -€44,760 | -96.8% |
| Total equity and liabilities | 10/49 | €2,306,116 | €2,122,115 | -€184,000 | -8.0% |
| Equity | 10/15 | €1,232,039 | €1,205,065 | -€26,974 | -2.2% |
| Contributions | 10/11 | €352,600 | €352,600 | = | 0.0% |
| Reserves | 13 | €839,324 | €839,324 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €837,464 | €837,464 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,115 | €13,141 | -€26,974 | -67.2% |
| Amounts payable | 17/49 | €1,074,077 | €917,051 | -€157,026 | -14.6% |
| Amounts payable after more than one year | 17 | €734,760 | €734,760 | = | 0.0% |
| Financial debts | 170/4 | €734,760 | €734,760 | = | 0.0% |
| Amounts payable within one year | 42/48 | €327,710 | €170,684 | -€157,026 | -47.9% |
| Trade debts | 44 | €163 | €163 | = | 0.0% |
| Suppliers | 440/4 | €163 | €163 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €1,759 | €256 | -€1,503 | -85.4% |
| Taxes | 450/3 | €1,759 | €256 | -€1,503 | -85.4% |
| Other amounts payable | 47/48 | €325,788 | €170,265 | -€155,523 | -47.7% |
| Accrued charges and deferred income | 492/3 | €11,606 | €11,606 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,876 | €8,883 | +€7 | +0.1% |
| Other operating charges | 640/8 | €3,618 | €3,714 | +€96 | +2.7% |
| Gross operating margin | 9900 | €26,391 | €10,112 | -€16,278 | -61.7% |
| Operating profit (loss) | 9901 | €13,897 | -€2,485 | -€16,382 | |
| Financial income | 75/76B | €44,760 | €8,810 | -€35,950 | -80.3% |
| Recurring financial income | 75 | €44,760 | €8,810 | -€35,950 | -80.3% |
| Non-recurring financial income | 76B | €44,760 | - | -€44,760 | |
| Financial charges | 65/66B | €58,071 | €33,225 | -€24,845 | -42.8% |
| Recurring financial charges | 65 | €22,263 | €33,225 | +€10,963 | +49.2% |
| Non-recurring financial charges | 66B | €35,808 | - | -€35,808 | |
| Profit (loss) for the period before taxes | 9903 | €587 | -€26,900 | -€27,487 | |
| Income taxes | 67/77 | €73 | €74 | +€1 | +1.5% |
| Profit (loss) for the period | 9904 | €514 | -€26,974 | -€27,488 | |
| Profit (loss) for the period to be appropriated | 9905 | €514 | -€26,974 | -€27,488 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.