The Finest: 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.
The Finest
Largest movements
- Cash -€89,464
down €89,464 (-31.5%), from €284,261 to €194,796
mainly Trade debts (-€216,590) and Advances received (-€27,447)
- Tangible fixed assets -€14,883
down €14,883 (-26.8%), from €55,589 to €40,706
of which Plant, machinery and equipment: -€8,261
- Receivables within one year +€5,797
up €5,797 (+23.3%), from €24,835 to €30,632
of which Other amounts receivable: +€3,865
- Stocks and contracts -€5,000
down €5,000 (-100%), from €5,000 to €0
- Trade debts -€216,590
down €216,590 (-77.2%), from €280,474 to €63,884
- Other debts +€120,695
up €120,695 (+1,305%), from €9,250 to €129,944
- Advances received -€27,447
down €27,447 (-89.0%), from €30,847 to €3,400
- Short-term financial debts +€14,362
up €14,362 (+2,754%), from €521 to €14,884
- Reserves +€13,500
up €13,500 (+55.1%), from €24,500 to €38,000
- Gross operating margin +€29,841
up €29,841 (+160%), from €18,628 to €48,470
- Financial charges +€14,353
up €14,353 (+1,622%), from €885 to €15,238
- Depreciation +€3,200
up €3,200 (+27.4%), from €11,682 to €14,883
- Taxes +€2,680
up €2,680 (+305%), from €880 to €3,560
- Financial income -€751
down €751 (-93.7%), from €801 to €50
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 | €369,684 | €266,670 | -€103,014 | -27.9% |
| Fixed assets | 21/28 | €55,589 | €40,706 | -€14,883 | -26.8% |
| Tangible fixed assets | 22/27 | €55,589 | €40,706 | -€14,883 | -26.8% |
| Plant, machinery and equipment | 23 | €40,194 | €31,933 | -€8,261 | -20.6% |
| Furniture and vehicles | 24 | €15,395 | €8,773 | -€6,622 | -43.0% |
| Current assets | 29/58 | €314,095 | €225,964 | -€88,132 | -28.1% |
| Stocks and contracts in progress | 3 | €5,000 | €0 | -€5,000 | -100% |
| Contracts in progress | 37 | €5,000 | €0 | -€5,000 | -100% |
| Amounts receivable within one year | 40/41 | €24,835 | €30,632 | +€5,797 | +23.3% |
| Trade receivables | 40 | €22,710 | €24,642 | +€1,932 | +8.5% |
| Other amounts receivable | 41 | €2,125 | €5,990 | +€3,865 | +182% |
| Cash at bank and in hand | 54/58 | €284,261 | €194,796 | -€89,464 | -31.5% |
| Deferred charges and accrued income | 490/1 | - | €536 | +€536 | |
| Total equity and liabilities | 10/49 | €369,684 | €266,670 | -€103,014 | -27.9% |
| Equity | 10/15 | €29,506 | €43,484 | +€13,978 | +47.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €24,500 | €38,000 | +€13,500 | +55.1% |
| Distributable reserves | 133 | €24,500 | €38,000 | +€13,500 | +55.1% |
| Profit (loss) carried forward | 14 | €6 | €484 | +€478 | +8,550% |
| Amounts payable | 17/49 | €340,178 | €223,186 | -€116,992 | -34.4% |
| Amounts payable after more than one year | 17 | €9,974 | €2,502 | -€7,471 | -74.9% |
| Financial debts | 170/4 | €9,974 | €2,502 | -€7,471 | -74.9% |
| Amounts payable within one year | 42/48 | €330,204 | €220,684 | -€109,521 | -33.2% |
| Current portion of amounts payable after more than one year | 42 | €7,418 | €7,471 | +€53 | +0.7% |
| Financial debts | 43 | €521 | €14,884 | +€14,362 | +2,754% |
| Credit institutions | 430/8 | €521 | €14,884 | +€14,362 | +2,754% |
| Trade debts | 44 | €280,474 | €63,884 | -€216,590 | -77.2% |
| Suppliers | 440/4 | €280,474 | €63,884 | -€216,590 | -77.2% |
| Advances received on contracts in progress | 46 | €30,847 | €3,400 | -€27,447 | -89.0% |
| Taxes, remuneration and social security | 45 | €1,694 | €1,100 | -€594 | -35.1% |
| Taxes | 450/3 | €1,694 | €1,100 | -€594 | -35.1% |
| Other amounts payable | 47/48 | €9,250 | €129,944 | +€120,695 | +1,305% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,682 | €14,883 | +€3,200 | +27.4% |
| Other operating charges | 640/8 | €411 | €861 | +€450 | +109% |
| Gross operating margin | 9900 | €18,628 | €48,470 | +€29,841 | +160% |
| Operating profit (loss) | 9901 | €6,535 | €32,726 | +€26,191 | +401% |
| Financial income | 75/76B | €801 | €50 | -€751 | -93.7% |
| Recurring financial income | 75 | €801 | €50 | -€751 | -93.7% |
| Financial charges | 65/66B | €885 | €15,238 | +€14,353 | +1,622% |
| Recurring financial charges | 65 | €885 | €15,238 | +€14,353 | +1,622% |
| Profit (loss) for the period before taxes | 9903 | €6,451 | €17,538 | +€11,087 | +172% |
| Income taxes | 67/77 | €880 | €3,560 | +€2,680 | +305% |
| Profit (loss) for the period | 9904 | €5,572 | €13,978 | +€8,406 | +151% |
| Profit (loss) for the period to be appropriated | 9905 | €5,572 | €13,978 | +€8,406 | +151% |
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 26 October 2026 via checked.be.