Fundaro: 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.
Fundaro
Largest movements
- Financial fixed assets +€7.6m
up €7.6m (+1951.8%), from €389,894 to €8.0m
- Short-term financial debts +€6.4m
new in 2025: €6.4m
- Debts after one year +€1.2m
up €1.2m (+343.0%), from €349,839 to €1.5m
- Profit (loss) carried forward -€503,334
down €503,334 (-1598.4%), from -€31,490 to -€534,825
- Contributions +€500,000
up €500,000 (+1250.0%), from €40,000 to €540,000
- Financial charges +€440,063
up €440,063 (+23555.3%), from €1,868 to €441,931
of which Non-recurring financial charges: +€426,393
- Gross operating margin -€34,844
down €34,844 (-504.5%), from -€6,907 to -€41,751
- Other operating charges +€19,072
up €19,072 (+3286.3%), from €580 to €19,652
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 | €417,476 | €8,017,013 | +€7.6m | +1820.4% |
| Fixed assets | 21/28 | €389,894 | €7,999,990 | +€7.6m | +1951.8% |
| Financial fixed assets | 28 | €389,894 | €7,999,990 | +€7.6m | +1951.8% |
| Current assets | 29/58 | €27,582 | €17,023 | -€10,558 | -38.3% |
| Amounts receivable within one year | 40/41 | €19,058 | €12,370 | -€6,687 | -35.1% |
| Trade receivables | 40 | €19,058 | €12,360 | -€6,697 | -35.1% |
| Other amounts receivable | 41 | - | €10 | +€10 | |
| Cash at bank and in hand | 54/58 | €8,524 | €4,653 | -€3,871 | -45.4% |
| Total equity and liabilities | 10/49 | €417,476 | €8,017,013 | +€7.6m | +1820.4% |
| Equity | 10/15 | €8,510 | €5,175 | -€3,334 | -39.2% |
| Contributions | 10/11 | €40,000 | €540,000 | +€500,000 | +1250.0% |
| Profit (loss) carried forward | 14 | -€31,490 | -€534,825 | -€503,334 | -1598.4% |
| Amounts payable | 17/49 | €408,966 | €8,011,838 | +€7.6m | +1859.0% |
| Amounts payable after more than one year | 17 | €349,839 | €1,549,750 | +€1.2m | +343.0% |
| Financial debts | 170/4 | €349,839 | €1,549,750 | +€1.2m | +343.0% |
| Amounts payable within one year | 42/48 | €59,127 | €6,448,928 | +€6.4m | +10806.9% |
| Current portion of amounts payable after more than one year | 42 | €58,581 | €0 | -€58,581 | -100.0% |
| Financial debts | 43 | - | €6,400,000 | +€6.4m | |
| Credit institutions | 430/8 | - | €6,400,000 | +€6.4m | |
| Trade debts | 44 | €545 | €48,928 | +€48,383 | +8870.9% |
| Suppliers | 440/4 | €545 | €48,928 | +€48,383 | +8870.9% |
| Accrued charges and deferred income | 492/3 | - | €13,160 | +€13,160 | |
| Other operating charges | 640/8 | €580 | €19,652 | +€19,072 | +3286.3% |
| Gross operating margin | 9900 | -€6,907 | -€41,751 | -€34,844 | -504.5% |
| Operating profit (loss) | 9901 | -€7,487 | -€61,403 | -€53,916 | -720.1% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,868 | €441,931 | +€440,063 | +23555.3% |
| Recurring financial charges | 65 | €1,868 | €15,538 | +€13,669 | +731.7% |
| Non-recurring financial charges | 66B | - | €426,393 | +€426,393 | |
| Profit (loss) for the period before taxes | 9903 | -€9,355 | -€503,334 | -€493,979 | -5280.2% |
| Profit (loss) for the period | 9904 | -€9,355 | -€503,334 | -€493,979 | -5280.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,355 | -€503,334 | -€493,979 | -5280.2% |
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 2 October 2026 via checked.be.