De Flater: 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.
De Flater
Largest movements
- Tangible fixed assets +€357,168
up €357,168 (+1030.7%), from €34,652 to €391,820
of which Land and buildings: +€266,460
- Cash -€278,162
down €278,162 (-83.0%), from €334,957 to €56,796
mainly Investment in fixed assets (net) (-€422,358) and Receivables after one year (-€203,675)
- Receivables after one year +€203,675
new in 2025: €203,675
- Receivables within one year +€14,041
up €14,041 (+1615.5%), from €869 to €14,910
of which Other amounts receivable: +€13,617
- Debts after one year +€225,963
up €225,963 (+2953.7%), from €7,650 to €233,613
- Trade debts +€55,826
up €55,826 (+445.1%), from €12,542 to €68,368
- Current portion of long-term debt +€32,911
up €32,911 (+423.7%), from €7,767 to €40,678
- Tax, wage and social debts -€31,353
down €31,353 (-81.8%), from €38,317 to €6,964
of which Taxes: -€34,763
- Reserves +€17,529
up €17,529 (+6.0%), from €290,882 to €308,411
- Depreciation +€52,065
up €52,065 (+368.6%), from €14,124 to €66,189
- Staff costs +€27,846
up €27,846 (+219.8%), from €12,666 to €40,512
- Taxes -€25,229
down €25,229 (-90.1%), from €27,994 to €2,765
- Gross operating margin -€23,858
down €23,858 (-14.8%), from €161,506 to €137,647
- Financial charges +€5,123
up €5,123 (+273.5%), from €1,873 to €6,996
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 | €377,752 | €677,134 | +€299,382 | +79.3% |
| Fixed assets | 21/28 | €36,477 | €392,645 | +€356,168 | +976.4% |
| Intangible fixed assets | 21 | €1,825 | €825 | -€1,000 | -54.8% |
| Tangible fixed assets | 22/27 | €34,652 | €391,820 | +€357,168 | +1030.7% |
| Land and buildings | 22 | €9,774 | €276,235 | +€266,460 | +2726.2% |
| Plant, machinery and equipment | 23 | €18,651 | €26,303 | +€7,652 | +41.0% |
| Furniture and vehicles | 24 | €6,227 | €89,283 | +€83,057 | +1333.9% |
| Current assets | 29/58 | €341,275 | €284,488 | -€56,787 | -16.6% |
| Amounts receivable after more than one year | 29 | - | €203,675 | +€203,675 | |
| Other amounts receivable | 291 | - | €203,675 | +€203,675 | |
| Stocks and contracts in progress | 3 | €2,743 | €4,713 | +€1,970 | +71.8% |
| Stocks | 30/36 | €2,743 | €4,713 | +€1,970 | +71.8% |
| Amounts receivable within one year | 40/41 | €869 | €14,910 | +€14,041 | +1615.5% |
| Trade receivables | 40 | €0 | €424 | +€424 | |
| Other amounts receivable | 41 | €869 | €14,487 | +€13,617 | +1566.7% |
| Cash at bank and in hand | 54/58 | €334,957 | €56,796 | -€278,162 | -83.0% |
| Deferred charges and accrued income | 490/1 | €2,705 | €4,394 | +€1,689 | +62.4% |
| Total equity and liabilities | 10/49 | €377,752 | €677,134 | +€299,382 | +79.3% |
| Equity | 10/15 | €307,382 | €324,911 | +€17,529 | +5.7% |
| Contributions | 10/11 | €16,500 | €16,500 | = | 0.0% |
| Reserves | 13 | €290,882 | €308,411 | +€17,529 | +6.0% |
| Distributable reserves | 133 | €290,882 | €308,411 | +€17,529 | +6.0% |
| Amounts payable | 17/49 | €70,370 | €352,223 | +€281,853 | +400.5% |
| Amounts payable after more than one year | 17 | €7,650 | €233,613 | +€225,963 | +2953.7% |
| Financial debts | 170/4 | €7,650 | €233,613 | +€225,963 | +2953.7% |
| Amounts payable within one year | 42/48 | €62,720 | €116,010 | +€53,290 | +85.0% |
| Current portion of amounts payable after more than one year | 42 | €7,767 | €40,678 | +€32,911 | +423.7% |
| Trade debts | 44 | €12,542 | €68,368 | +€55,826 | +445.1% |
| Suppliers | 440/4 | €12,542 | €68,368 | +€55,826 | +445.1% |
| Taxes, remuneration and social security | 45 | €38,317 | €6,964 | -€31,353 | -81.8% |
| Taxes | 450/3 | €36,154 | €1,391 | -€34,763 | -96.2% |
| Remuneration and social security | 454/9 | €2,162 | €5,572 | +€3,410 | +157.7% |
| Other amounts payable | 47/48 | €4,094 | €0 | -€4,094 | -100.0% |
| Accrued charges and deferred income | 492/3 | - | €2,600 | +€2,600 | |
| Remuneration, social security and pensions | 62 | €12,666 | €40,512 | +€27,846 | +219.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,124 | €66,189 | +€52,065 | +368.6% |
| Other operating charges | 640/8 | €5,736 | €3,955 | -€1,782 | -31.1% |
| Gross operating margin | 9900 | €161,506 | €137,647 | -€23,858 | -14.8% |
| Operating profit (loss) | 9901 | €128,979 | €26,992 | -€101,987 | -79.1% |
| Financial income | 75/76B | €0 | €299 | +€299 | +747450.0% |
| Recurring financial income | 75 | €0 | €299 | +€299 | +747450.0% |
| Financial charges | 65/66B | €1,873 | €6,996 | +€5,123 | +273.5% |
| Recurring financial charges | 65 | €1,873 | €6,996 | +€5,123 | +273.5% |
| Profit (loss) for the period before taxes | 9903 | €127,106 | €20,294 | -€106,812 | -84.0% |
| Income taxes | 67/77 | €27,994 | €2,765 | -€25,229 | -90.1% |
| Profit (loss) for the period | 9904 | €99,112 | €17,529 | -€81,583 | -82.3% |
| Profit (loss) for the period to be appropriated | 9905 | €99,112 | €17,529 | -€81,583 | -82.3% |
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 5 October 2026 via checked.be.