FINVADI: 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.
FINVADI
Largest movements
- Receivables within one year +€17,138
up €17,138 (+13.1%), from €131,136 to €148,275
of which Trade receivables: +€80,983
- Intangible fixed assets -€7,733
down €7,733 (-7.5%), from €102,467 to €94,733
- Trade debts -€29,238
down €29,238 (-46.6%), from €62,772 to €33,533
- Profit (loss) carried forward +€19,216
up €19,216 (+33.0%), from €58,156 to €77,372
- Debts after one year -€14,286
down €14,286 (-23.5%), from €60,714 to €46,428
- Short-term financial debts +€11,574
up €11,574 (+345.0%), from €3,354 to €14,928
of which Other loans: +€11,521
- Current portion of long-term debt +€8,436
up €8,436 (+36.5%), from €23,085 to €31,522
- Gross operating margin +€106,556
up €106,556 (+70.2%), from €151,686 to €258,242
- Staff costs +€78,878
up €78,878 (+59.9%), from €131,599 to €210,476
- Taxes +€10,741
up €10,741 (+2546.9%), from €422 to €11,163
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 | €242,591 | €250,853 | +€8,262 | +3.4% |
| Fixed assets | 21/28 | €110,280 | €101,667 | -€8,614 | -7.8% |
| Intangible fixed assets | 21 | €102,467 | €94,733 | -€7,733 | -7.5% |
| Tangible fixed assets | 22/27 | €7,814 | €6,933 | -€880 | -11.3% |
| Plant, machinery and equipment | 23 | €7,814 | €6,933 | -€880 | -11.3% |
| Current assets | 29/58 | €132,311 | €149,186 | +€16,876 | +12.8% |
| Amounts receivable within one year | 40/41 | €131,136 | €148,275 | +€17,138 | +13.1% |
| Trade receivables | 40 | €56,361 | €137,344 | +€80,983 | +143.7% |
| Other amounts receivable | 41 | €74,775 | €10,930 | -€63,845 | -85.4% |
| Cash at bank and in hand | 54/58 | €1,047 | - | -€1,047 | |
| Deferred charges and accrued income | 490/1 | €127 | €912 | +€785 | +618.1% |
| Total equity and liabilities | 10/49 | €242,591 | €250,853 | +€8,262 | +3.4% |
| Equity | 10/15 | €76,756 | €95,972 | +€19,216 | +25.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €58,156 | €77,372 | +€19,216 | +33.0% |
| Amounts payable | 17/49 | €165,835 | €154,881 | -€10,954 | -6.6% |
| Amounts payable after more than one year | 17 | €60,714 | €46,428 | -€14,286 | -23.5% |
| Financial debts | 170/4 | €60,714 | €46,428 | -€14,286 | -23.5% |
| Amounts payable within one year | 42/48 | €105,121 | €108,452 | +€3,332 | +3.2% |
| Current portion of amounts payable after more than one year | 42 | €23,085 | €31,522 | +€8,436 | +36.5% |
| Financial debts | 43 | €3,354 | €14,928 | +€11,574 | +345.0% |
| Credit institutions | 430/8 | €3,354 | €3,407 | +€53 | +1.6% |
| Other loans | 439 | - | €11,521 | +€11,521 | |
| Trade debts | 44 | €62,772 | €33,533 | -€29,238 | -46.6% |
| Suppliers | 440/4 | €62,772 | €33,533 | -€29,238 | -46.6% |
| Taxes, remuneration and social security | 45 | €15,909 | €20,969 | +€5,060 | +31.8% |
| Remuneration and social security | 454/9 | €15,909 | €20,969 | +€5,060 | +31.8% |
| Other amounts payable | 47/48 | - | €7,500 | +€7,500 | |
| Remuneration, social security and pensions | 62 | €131,599 | €210,476 | +€78,878 | +59.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,614 | €8,614 | = | 0.0% |
| Other operating charges | 640/8 | €62 | €62 | = | 0.0% |
| Gross operating margin | 9900 | €151,686 | €258,242 | +€106,556 | +70.2% |
| Operating profit (loss) | 9901 | €11,411 | €39,090 | +€27,678 | +242.5% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €10,795 | €8,711 | -€2,084 | -19.3% |
| Recurring financial charges | 65 | €10,795 | €8,711 | -€2,084 | -19.3% |
| Profit (loss) for the period before taxes | 9903 | €617 | €30,379 | +€29,762 | +4825.7% |
| Income taxes | 67/77 | €422 | €11,163 | +€10,741 | +2546.9% |
| Profit (loss) for the period | 9904 | €195 | €19,216 | +€19,021 | +9753.5% |
| Profit (loss) for the period to be appropriated | 9905 | €195 | €19,216 | +€19,021 | +9753.5% |
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.