FNZ: 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.
FNZ
Largest movements
- Cash +€26,377
up €26,377 (+310.7%), from €8,490 to €34,867
mainly Net result for the year (+€25,031) and Depreciation (+€14,237)
- Tangible fixed assets -€11,237
down €11,237 (-21.0%), from €53,448 to €42,211
of which Plant, machinery and equipment: -€9,302
- Stocks and contracts +€6,945
up €6,945 (+43.2%), from €16,065 to €23,011
- Intangible fixed assets -€3,000
down €3,000 (-26.4%), from €11,359 to €8,359
- Receivables within one year +€2,280
up €2,280 (+669.2%), from €341 to €2,621
of which Other amounts receivable: +€2,385
- Reserves +€25,031
up €25,031 (+77.8%), from €32,159 to €57,190
- Trade debts -€6,472
down €6,472 (-25.9%), from €24,982 to €18,510
- Tax, wage and social debts +€6,174
up €6,174 (+20.8%), from €29,723 to €35,898
of which Taxes: +€3,263
- Accrued charges and deferred income -€1,239
down €1,239 (-66.0%), from €1,876 to €637
- Staff costs -€12,557
down €12,557 (-7.4%), from €170,650 to €158,094
- Taxes +€3,477
up €3,477 (+48.0%), from €7,241 to €10,718
- Other operating charges +€2,461
up €2,461 (+320.1%), from €769 to €3,230
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 | €91,740 | €115,235 | +€23,495 | +25.6% |
| Fixed assets | 21/28 | €64,807 | €50,570 | -€14,237 | -22.0% |
| Intangible fixed assets | 21 | €11,359 | €8,359 | -€3,000 | -26.4% |
| Tangible fixed assets | 22/27 | €53,448 | €42,211 | -€11,237 | -21.0% |
| Plant, machinery and equipment | 23 | €34,851 | €25,549 | -€9,302 | -26.7% |
| Other tangible fixed assets | 26 | €18,597 | €16,662 | -€1,936 | -10.4% |
| Current assets | 29/58 | €26,934 | €64,665 | +€37,732 | +140.1% |
| Stocks and contracts in progress | 3 | €16,065 | €23,011 | +€6,945 | +43.2% |
| Stocks | 30/36 | €16,065 | €23,011 | +€6,945 | +43.2% |
| Amounts receivable within one year | 40/41 | €341 | €2,621 | +€2,280 | +669.2% |
| Trade receivables | 40 | €105 | - | -€105 | |
| Other amounts receivable | 41 | €236 | €2,621 | +€2,385 | +1011.9% |
| Cash at bank and in hand | 54/58 | €8,490 | €34,867 | +€26,377 | +310.7% |
| Deferred charges and accrued income | 490/1 | €2,038 | €4,167 | +€2,129 | +104.5% |
| Total equity and liabilities | 10/49 | €91,740 | €115,235 | +€23,495 | +25.6% |
| Equity | 10/15 | €35,159 | €60,190 | +€25,031 | +71.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €32,159 | €57,190 | +€25,031 | +77.8% |
| Distributable reserves | 133 | €32,159 | €57,190 | +€25,031 | +77.8% |
| Amounts payable | 17/49 | €56,581 | €55,045 | -€1,537 | -2.7% |
| Amounts payable within one year | 42/48 | €54,706 | €54,408 | -€298 | -0.5% |
| Trade debts | 44 | €24,982 | €18,510 | -€6,472 | -25.9% |
| Suppliers | 440/4 | €24,982 | €18,510 | -€6,472 | -25.9% |
| Taxes, remuneration and social security | 45 | €29,723 | €35,898 | +€6,174 | +20.8% |
| Taxes | 450/3 | €14,436 | €17,699 | +€3,263 | +22.6% |
| Remuneration and social security | 454/9 | €15,287 | €18,198 | +€2,911 | +19.0% |
| Accrued charges and deferred income | 492/3 | €1,876 | €637 | -€1,239 | -66.0% |
| Remuneration, social security and pensions | 62 | €170,650 | €158,094 | -€12,557 | -7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,841 | €14,237 | +€1,396 | +10.9% |
| Other operating charges | 640/8 | €769 | €3,230 | +€2,461 | +320.1% |
| Gross operating margin | 9900 | €213,043 | €215,177 | +€2,134 | +1.0% |
| Operating profit (loss) | 9901 | €28,783 | €39,616 | +€10,833 | +37.6% |
| Financial income | 75/76B | €13 | €76 | +€63 | +481.2% |
| Recurring financial income | 75 | €13 | €76 | +€63 | +481.2% |
| Financial charges | 65/66B | €2,261 | €3,943 | +€1,682 | +74.4% |
| Recurring financial charges | 65 | €2,261 | €3,943 | +€1,682 | +74.4% |
| Profit (loss) for the period before taxes | 9903 | €26,535 | €35,749 | +€9,214 | +34.7% |
| Income taxes | 67/77 | €7,241 | €10,718 | +€3,477 | +48.0% |
| Profit (loss) for the period | 9904 | €19,293 | €25,031 | +€5,738 | +29.7% |
| Profit (loss) for the period to be appropriated | 9905 | €19,293 | €25,031 | +€5,738 | +29.7% |
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 11 October 2026 via checked.be.