The paper uses the formalism of indexed categories to recover the proof of a standard final coalgebra theorem, thus showing existence of final coalgebras for a special class of functors on finitely complete and cocomplete categories. As an instance of this result, we build the final coalgebra for the powerclass functor, in the context of a Heyting pretopos with a class of small maps. This is then proved to provide models for various non-well-founded set theories, depending on the chosen axiomatisation for the class of small maps.