FONDS DE CAPITAL A RISQUE 2020: 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.
What changed
FONDS DE CAPITAL A RISQUE 2020
NACE 64.999, Other financial services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€8.5m
2024 · -€3.3m+€11.8m
Equity
€41.6m
2024 · €33.1m+€8.5m
Cash
€486,574
2024 · €505,952-€19,378
Balance sheet total
€41.6m
2024 · €33.3m+€8.4m
Largest movements
Assets
- Current investments +€11.0m
up €11.0m (+104%), from €10.6m to €21.7m
- Financial fixed assets -€4.0m
down €4.0m (-18.4%), from €21.8m to €17.8m
of which Other financial fixed assets: -€3.4m
- Receivables within one year +€1.4m
up €1.4m (+553%), from €245,089 to €1.6m
of which Other amounts receivable: +€1.4m
Equity and liabilities
- Profit (loss) carried forward +€7.2m
up €7.2m, from -€2.6m to €4.6m
- Reserves +€1.2m
up €1.2m (+785%), from €157,901 to €1.4m
of which Tax-exempt reserves: +€997,770
Income statement
- Financial income +€15.2m
up €15.2m (+1,003%), from €1.5m to €16.7m
of which Non-recurring financial income: +€15.1m
- Taxes +€2.8m
new in 2025: €2.8m
- Financial charges +€616,070
up €616,070 (+14.6%), from €4.2m to €4.8m
of which Financial charges: +€574,896
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.
Result 2024
-€3.3m
Other operating charges
-€57
Other operating items
-€14,781
Financial income
+€15.2m
Financial charges
-€616,070
Taxes
-€2.8m
Result 2025
€8.5m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€7.0m
Investment
-€7.0m
Financing
€0
Cash 2024
€505,952
From operations (derived)
+€7.0m
Net result for the year
+€8.5m
Receivables within one year
-€1.4m
Deferred charges and accrued income
-€33,941
Trade debts
-€104,221
Accrued charges and deferred income
+€18,264
Investment (derived)
-€7.0m
Investment in fixed assets (net)
+€4.0m
Current investments
-€11.0m
Cash 2025
€486,574
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €33,265,684 | €41,636,575 | +€8.4m | +25.2% |
| Fixed assets | 21/28 | €21,806,439 | €17,787,885 | -€4.0m | -18.4% |
| Financial fixed assets | 28 | €21,806,439 | €17,787,885 | -€4.0m | -18.4% |
| Companies linked by participating interests | 282/3 | €2,699,950 | €2,087,739 | -€612,211 | -22.7% |
| Participating interests | 282 | €2,599,950 | €1,937,739 | -€662,211 | -25.5% |
| Amounts receivable | 283 | €100,000 | €150,000 | +€50,000 | +50.0% |
| Other financial fixed assets | 284/8 | €19,106,489 | €15,700,146 | -€3.4m | -17.8% |
| Shares | 284 | €9,242,342 | €7,749,434 | -€1.5m | -16.2% |
| Amounts receivable and cash guarantees | 285/8 | €9,864,147 | €7,950,712 | -€1.9m | -19.4% |
| Current assets | 29/58 | €11,459,245 | €23,848,690 | +€12.4m | +108% |
| Amounts receivable within one year | 40/41 | €245,089 | €1,599,967 | +€1.4m | +553% |
| Trade receivables | 40 | €199,307 | €177,622 | -€21,685 | -10.9% |
| Other amounts receivable | 41 | €45,782 | €1,422,345 | +€1.4m | +3,007% |
| Current investments | 50/53 | €10,640,000 | €21,660,004 | +€11.0m | +104% |
| Other investments | 51/53 | €10,640,000 | €21,660,004 | +€11.0m | +104% |
| Cash at bank and in hand | 54/58 | €505,952 | €486,574 | -€19,378 | -3.8% |
| Deferred charges and accrued income | 490/1 | €68,204 | €102,145 | +€33,941 | +49.8% |
| Total equity and liabilities | 10/49 | €33,265,684 | €41,636,575 | +€8.4m | +25.2% |
| Equity | 10/15 | €33,144,598 | €41,601,446 | +€8.5m | +25.5% |
| Contributions | 10/11 | €35,621,867 | €35,621,867 | = | 0.0% |
| Capital | 10 | €35,621,867 | €35,621,867 | = | 0.0% |
| Issued capital | 100 | €35,621,867 | €35,621,867 | = | 0.0% |
| Reserves | 13 | €157,901 | €1,396,866 | +€1.2m | +785% |
| Non-distributable reserves | 130/1 | €157,901 | €399,096 | +€241,195 | +153% |
| Legal reserve | 130 | €157,901 | €399,096 | +€241,195 | +153% |
| Tax-exempt reserves | 132 | - | €997,770 | +€997,770 | |
| Profit (loss) carried forward | 14 | -€2,635,170 | €4,582,713 | +€7.2m | |
| Amounts payable | 17/49 | €121,086 | €35,129 | -€85,957 | -71.0% |
| Amounts payable within one year | 42/48 | €110,257 | €6,036 | -€104,221 | -94.5% |
| Trade debts | 44 | €110,257 | €6,036 | -€104,221 | -94.5% |
| Suppliers | 440/4 | €110,257 | €6,036 | -€104,221 | -94.5% |
| Accrued charges and deferred income | 492/3 | €10,829 | €29,093 | +€18,264 | +169% |
| Operating income | 70/76A | €5,396 | - | -€5,396 | |
| Non-recurring operating income | 76A | €5,396 | - | -€5,396 | |
| Operating charges | 60/66A | €628,975 | €638,417 | +€9,442 | +1.5% |
| Services and other goods | 61 | €620,795 | €637,400 | +€16,605 | +2.7% |
| Other operating charges | 640/8 | €960 | €1,017 | +€57 | +5.9% |
| Non-recurring operating charges | 66A | €7,220 | - | -€7,220 | |
| Operating profit (loss) | 9901 | -€623,579 | -€638,417 | -€14,838 | -2.4% |
| Financial income | 75/76B | €1,513,874 | €16,700,081 | +€15.2m | +1,003% |
| Recurring financial income | 75 | €653,208 | €718,123 | +€64,915 | +9.9% |
| Income from financial fixed assets | 750 | €396,546 | €376,174 | -€20,372 | -5.1% |
| Income from current assets | 751 | €256,662 | €341,949 | +€85,287 | +33.2% |
| Non-recurring financial income | 76B | €860,666 | €15,981,958 | +€15.1m | +1,757% |
| Financial charges | 65/66B | €4,221,304 | €4,837,374 | +€616,070 | +14.6% |
| Recurring financial charges | 65 | €4,177 | €579,073 | +€574,896 | +13,763% |
| Debt charges | 650 | €8 | - | -€8 | |
| Other financial charges | 652/9 | €4,169 | €579,073 | +€574,904 | +13,790% |
| Non-recurring financial charges | 66B | €4,217,127 | €4,258,301 | +€41,174 | +1.0% |
| Profit (loss) for the period before taxes | 9903 | -€3,331,009 | €11,224,290 | +€14.6m | |
| Income taxes | 67/77 | - | €2,767,442 | +€2.8m | |
| Taxes | 670/3 | - | €2,767,442 | +€2.8m | |
| Profit (loss) for the period | 9904 | -€3,331,009 | €8,456,848 | +€11.8m | |
| Transfer to tax-exempt reserves | 689 | - | €997,770 | +€997,770 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,331,009 | €7,459,078 | +€10.8m |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.