FNK: what changed
Two financial 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.
FNK
Largest movements
- Current investments -€93,668
no longer reported in 2025 (was €93,668)
- Cash +€62,881
up €62,881 (+75.8%), from €82,919 to €145,800
mainly Other debts (+€114,597) and Current investments (+€93,668)
- Tangible fixed assets -€31,443
down €31,443 (-18.8%), from €167,206 to €135,763
- Receivables within one year -€17,099
down €17,099 (-99.3%), from €17,227 to €128
of which Other amounts receivable: -€17,128
- Reserves -€153,852
down €153,852 (-67.0%), from €229,572 to €75,720
- Other debts +€114,597
up €114,597 (+6,059%), from €1,891 to €116,488
- Debts after one year -€64,014
down €64,014 (-58.5%), from €109,339 to €45,325
- Tax, wage and social debts +€24,723
up €24,723 (+1,166%), from €2,120 to €26,843
of which Taxes: +€24,709
- Gross operating margin +€33,386
up €33,386 (+37.1%), from €89,939 to €123,325
- Taxes +€6,681
up €6,681 (+44.8%), from €14,900 to €21,581
- Depreciation +€3,968
up €3,968 (+12.4%), from €31,888 to €35,855
- Financial income +€3,767
up €3,767 (+1,137%), from €331 to €4,098
- Staff costs -€3,750
down €3,750 (-29.0%), from €12,916 to €9,167
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.
Derived cash bridge
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 | €364,536 | €285,959 | -€78,577 | -21.6% |
| Fixed assets | 21/28 | €169,183 | €137,563 | -€31,620 | -18.7% |
| Intangible fixed assets | 21 | €177 | - | -€177 | |
| Tangible fixed assets | 22/27 | €167,206 | €135,763 | -€31,443 | -18.8% |
| Plant, machinery and equipment | 23 | €29,953 | €24,305 | -€5,648 | -18.9% |
| Furniture and vehicles | 24 | €35,193 | €20,204 | -€14,989 | -42.6% |
| Other tangible fixed assets | 26 | €102,060 | €91,254 | -€10,806 | -10.6% |
| Financial fixed assets | 28 | €1,800 | €1,800 | = | 0.0% |
| Current assets | 29/58 | €195,353 | €148,396 | -€46,957 | -24.0% |
| Stocks and contracts in progress | 3 | €467 | €422 | -€45 | -9.5% |
| Stocks | 30/36 | €467 | €422 | -€45 | -9.5% |
| Amounts receivable within one year | 40/41 | €17,227 | €128 | -€17,099 | -99.3% |
| Trade receivables | 40 | €99 | €128 | +€29 | +29.5% |
| Other amounts receivable | 41 | €17,128 | - | -€17,128 | |
| Current investments | 50/53 | €93,668 | - | -€93,668 | |
| Cash at bank and in hand | 54/58 | €82,919 | €145,800 | +€62,881 | +75.8% |
| Deferred charges and accrued income | 490/1 | €1,073 | €2,046 | +€974 | +90.8% |
| Total equity and liabilities | 10/49 | €364,536 | €285,959 | -€78,577 | -21.6% |
| Equity | 10/15 | €229,572 | €75,720 | -€153,852 | -67.0% |
| Reserves | 13 | €229,572 | €75,720 | -€153,852 | -67.0% |
| Distributable reserves | 133 | €229,572 | €75,720 | -€153,852 | -67.0% |
| Amounts payable | 17/49 | €134,964 | €210,240 | +€75,276 | +55.8% |
| Amounts payable after more than one year | 17 | €109,339 | €45,325 | -€64,014 | -58.5% |
| Financial debts | 170/4 | €109,339 | €45,325 | -€64,014 | -58.5% |
| Amounts payable within one year | 42/48 | €25,002 | €164,813 | +€139,811 | +559% |
| Current portion of amounts payable after more than one year | 42 | €17,565 | €17,014 | -€551 | -3.1% |
| Trade debts | 44 | €3,426 | €4,467 | +€1,042 | +30.4% |
| Suppliers | 440/4 | €3,426 | €4,467 | +€1,042 | +30.4% |
| Taxes, remuneration and social security | 45 | €2,120 | €26,843 | +€24,723 | +1,166% |
| Taxes | 450/3 | €1,420 | €26,129 | +€24,709 | +1,741% |
| Remuneration and social security | 454/9 | €700 | €714 | +€14 | +2.0% |
| Other amounts payable | 47/48 | €1,891 | €116,488 | +€114,597 | +6,059% |
| Accrued charges and deferred income | 492/3 | €623 | €102 | -€521 | -83.6% |
| Remuneration, social security and pensions | 62 | €12,916 | €9,167 | -€3,750 | -29.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,888 | €35,855 | +€3,968 | +12.4% |
| Other operating charges | 640/8 | €3,579 | €446 | -€3,133 | -87.5% |
| Gross operating margin | 9900 | €89,939 | €123,325 | +€33,386 | +37.1% |
| Operating profit (loss) | 9901 | €41,557 | €77,857 | +€36,301 | +87.4% |
| Financial income | 75/76B | €331 | €4,098 | +€3,767 | +1,137% |
| Recurring financial income | 75 | €331 | €4,098 | +€3,767 | +1,137% |
| Financial charges | 65/66B | €3,900 | €3,668 | -€232 | -5.9% |
| Recurring financial charges | 65 | €3,900 | €3,668 | -€232 | -5.9% |
| Profit (loss) for the period before taxes | 9903 | €37,988 | €78,287 | +€40,299 | +106% |
| Income taxes | 67/77 | €14,900 | €21,581 | +€6,681 | +44.8% |
| Profit (loss) for the period | 9904 | €23,088 | €56,706 | +€33,618 | +146% |
| Profit (loss) for the period to be appropriated | 9905 | €23,088 | €56,706 | +€33,618 | +146% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.