FINVAST: 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.
FINVAST
Largest movements
- Tangible fixed assets -€417,992
down €417,992 (-34.0%), from €1.2m to €812,822
of which Assets under construction and advance payments: -€424,889
- Stocks and contracts +€385,841
new in 2025: €385,841
- Cash -€17,165
down €17,165 (-31.7%), from €54,131 to €36,967
mainly Stocks and contracts (-€385,841) and Debts after one year (-€67,599)
- Financial fixed assets +€16,964
up €16,964 (+198.2%), from €8,557 to €25,520
- Debts after one year -€67,599
down €67,599 (-10.2%), from €663,603 to €596,004
- Other debts +€25,436
up €25,436 (+16.4%), from €154,966 to €180,402
- Depreciation -€7,156
down €7,156 (-12.0%), from €59,459 to €52,303
- Other operating charges +€3,272
up €3,272 (+47.0%), from €6,961 to €10,234
- Financial charges +€3,049
up €3,049 (+8.7%), from €34,844 to €37,893
- Gross operating margin -€2,246
down €2,246 (-2.2%), from €104,331 to €102,085
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 | €1,294,526 | €1,261,334 | -€33,192 | -2.6% |
| Fixed assets | 21/28 | €1,239,370 | €838,342 | -€401,028 | -32.4% |
| Tangible fixed assets | 22/27 | €1,230,814 | €812,822 | -€417,992 | -34.0% |
| Land and buildings | 22 | €803,175 | €810,989 | +€7,814 | +1.0% |
| Furniture and vehicles | 24 | €2,750 | €1,833 | -€917 | -33.3% |
| Assets under construction and advance payments | 27 | €424,889 | - | -€424,889 | |
| Financial fixed assets | 28 | €8,557 | €25,520 | +€16,964 | +198.2% |
| Current assets | 29/58 | €55,155 | €422,992 | +€367,837 | +666.9% |
| Stocks and contracts in progress | 3 | - | €385,841 | +€385,841 | |
| Stocks | 30/36 | - | €385,841 | +€385,841 | |
| Cash at bank and in hand | 54/58 | €54,131 | €36,967 | -€17,165 | -31.7% |
| Deferred charges and accrued income | 490/1 | €1,024 | €184 | -€840 | -82.0% |
| Total equity and liabilities | 10/49 | €1,294,526 | €1,261,334 | -€33,192 | -2.6% |
| Equity | 10/15 | €37,302 | €38,620 | +€1,318 | +3.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,842 | €18,160 | +€1,318 | +7.8% |
| Amounts payable | 17/49 | €1,257,224 | €1,222,714 | -€34,510 | -2.7% |
| Amounts payable after more than one year | 17 | €663,603 | €596,004 | -€67,599 | -10.2% |
| Financial debts | 170/4 | €663,603 | €596,004 | -€67,599 | -10.2% |
| Amounts payable within one year | 42/48 | €593,621 | €626,710 | +€33,089 | +5.6% |
| Current portion of amounts payable after more than one year | 42 | €65,403 | €67,599 | +€2,196 | +3.4% |
| Financial debts | 43 | €370,000 | €370,000 | = | 0.0% |
| Credit institutions | 430/8 | €370,000 | €370,000 | = | 0.0% |
| Trade debts | 44 | €107 | €6,256 | +€6,149 | +5765.2% |
| Suppliers | 440/4 | €107 | €6,256 | +€6,149 | +5765.2% |
| Taxes, remuneration and social security | 45 | €3,146 | €2,454 | -€693 | -22.0% |
| Taxes | 450/3 | €3,146 | €2,454 | -€693 | -22.0% |
| Other amounts payable | 47/48 | €154,966 | €180,402 | +€25,436 | +16.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,459 | €52,303 | -€7,156 | -12.0% |
| Other operating charges | 640/8 | €6,961 | €10,234 | +€3,272 | +47.0% |
| Gross operating margin | 9900 | €104,331 | €102,085 | -€2,246 | -2.2% |
| Operating profit (loss) | 9901 | €37,910 | €39,548 | +€1,638 | +4.3% |
| Financial income | 75/76B | €60 | €205 | +€145 | +244.0% |
| Recurring financial income | 75 | €60 | €205 | +€145 | +244.0% |
| Financial charges | 65/66B | €34,844 | €37,893 | +€3,049 | +8.7% |
| Recurring financial charges | 65 | €34,844 | €37,893 | +€3,049 | +8.7% |
| Profit (loss) for the period before taxes | 9903 | €3,126 | €1,861 | -€1,265 | -40.5% |
| Income taxes | 67/77 | €837 | €543 | -€294 | -35.2% |
| Profit (loss) for the period | 9904 | €2,289 | €1,318 | -€971 | -42.4% |
| Profit (loss) for the period to be appropriated | 9905 | €2,289 | €1,318 | -€971 | -42.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.