FINALIZ: 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.
FINALIZ
Largest movements
- Cash -€1.2m
down €1.2m (-96.7%), from €1.3m to €40,949
mainly Other debts (-€1.2m) and Contributions, distributions and other (-€940,000)
- Receivables within one year -€1.1m
down €1.1m (-90.4%), from €1.2m to €114,021
of which Other amounts receivable: -€1.1m
- Tangible fixed assets +€351,563
up €351,563 (+9,062%), from €3,879 to €355,442
of which Land and buildings: +€343,408
- Other debts -€1.2m
down €1.2m (-96.9%), from €1.2m to €36,942
- Reserves -€940,000
down €940,000 (-73.5%), from €1.3m to €338,163
- Debts after one year +€187,627
up €187,627 (+301%), from €62,373 to €250,000
- Financial income -€2.2m
down €2.2m (-100.0%), from €2.2m to €150
of which Non-recurring financial income: -€2.2m
- Gross operating margin +€55,259
up €55,259, from -€2,728 to €52,532
- Depreciation +€41,090
up €41,090 (+2,767%), from €1,485 to €42,575
- Financial charges -€5,778
down €5,778 (-52.8%), from €10,947 to €5,170
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,594,514 | €659,496 | -€1.9m | -74.6% |
| Fixed assets | 21/28 | €152,813 | €504,375 | +€351,563 | +230% |
| Tangible fixed assets | 22/27 | €3,879 | €355,442 | +€351,563 | +9,062% |
| Land and buildings | 22 | - | €343,408 | +€343,408 | |
| Furniture and vehicles | 24 | €3,879 | €2,531 | -€1,348 | -34.7% |
| Other tangible fixed assets | 26 | - | €9,502 | +€9,502 | |
| Financial fixed assets | 28 | €148,933 | €148,933 | = | 0.0% |
| Current assets | 29/58 | €2,441,702 | €155,120 | -€2.3m | -93.6% |
| Amounts receivable within one year | 40/41 | €1,187,238 | €114,021 | -€1.1m | -90.4% |
| Trade receivables | 40 | - | €69,000 | +€69,000 | |
| Other amounts receivable | 41 | €1,187,238 | €45,021 | -€1.1m | -96.2% |
| Cash at bank and in hand | 54/58 | €1,254,464 | €40,949 | -€1.2m | -96.7% |
| Deferred charges and accrued income | 490/1 | - | €150 | +€150 | |
| Total equity and liabilities | 10/49 | €2,594,514 | €659,496 | -€1.9m | -74.6% |
| Equity | 10/15 | €1,298,181 | €362,137 | -€936,044 | -72.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,278,163 | €338,163 | -€940,000 | -73.5% |
| Distributable reserves | 133 | €1,278,163 | €338,163 | -€940,000 | -73.5% |
| Profit (loss) carried forward | 14 | €18 | €3,974 | +€3,956 | +22,213% |
| Amounts payable | 17/49 | €1,296,333 | €297,359 | -€998,975 | -77.1% |
| Amounts payable after more than one year | 17 | €62,373 | €250,000 | +€187,627 | +301% |
| Financial debts | 170/4 | €62,373 | €250,000 | +€187,627 | +301% |
| Amounts payable within one year | 42/48 | €1,233,961 | €43,009 | -€1.2m | -96.5% |
| Current portion of amounts payable after more than one year | 42 | €16,141 | - | -€16,141 | |
| Trade debts | 44 | €16,077 | €1,011 | -€15,066 | -93.7% |
| Suppliers | 440/4 | €16,077 | €1,011 | -€15,066 | -93.7% |
| Taxes, remuneration and social security | 45 | €3,750 | €5,056 | +€1,306 | +34.8% |
| Taxes | 450/3 | €3,750 | €5,056 | +€1,306 | +34.8% |
| Other amounts payable | 47/48 | €1,197,992 | €36,942 | -€1.2m | -96.9% |
| Accrued charges and deferred income | 492/3 | - | €4,350 | +€4,350 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,485 | €42,575 | +€41,090 | +2,767% |
| Other operating charges | 640/8 | €1,183 | €785 | -€398 | -33.6% |
| Gross operating margin | 9900 | -€2,728 | €52,532 | +€55,259 | |
| Operating profit (loss) | 9901 | -€5,396 | €9,172 | +€14,568 | |
| Financial income | 75/76B | €2,238,677 | €150 | -€2.2m | -100.0% |
| Recurring financial income | 75 | €0 | €150 | +€150 | +33,307% |
| Non-recurring financial income | 76B | €2,238,677 | - | -€2.2m | |
| Financial charges | 65/66B | €10,947 | €5,170 | -€5,778 | -52.8% |
| Recurring financial charges | 65 | €10,947 | €5,170 | -€5,778 | -52.8% |
| Profit (loss) for the period before taxes | 9903 | €2,222,334 | €4,153 | -€2.2m | -99.8% |
| Income taxes | 67/77 | €264 | €196 | -€68 | -25.7% |
| Profit (loss) for the period | 9904 | €2,222,070 | €3,956 | -€2.2m | -99.8% |
| Profit (loss) for the period to be appropriated | 9905 | €2,222,070 | €3,956 | -€2.2m | -99.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.