ETN. FLOR BAES: what changed
ETN. FLOR BAES
Largest movements
- Tangible fixed assets +€41,554
up €41,554 (+5.8%), from €712,096 to €753,651
of which Land and buildings: +€39,913
- Cash -€18,809
down €18,809 (-15.5%), from €121,285 to €102,476
mainly Investment in fixed assets (net) (-€89,862) and Tax, wage and social debts (-€46,000)
- Reserves +€63,420
up €63,420 (+9.3%), from €681,749 to €745,169
of which Distributable reserves: +€63,420
- Tax, wage and social debts -€46,000
down €46,000 (-100%), from €46,000 to €0
- Gross operating margin -€189,630
down €189,630 (-50.6%), from €374,840 to €185,209
- Taxes -€45,123
down €45,123 (-67.7%), from €66,698 to €21,575
- Financial income +€14,652
up €14,652 (+287%), from €5,103 to €19,755
- Depreciation -€5,262
down €5,262 (-9.8%), from €53,570 to €48,308
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,557,472 | €1,587,149 | +€29,677 | +1.9% |
| Fixed assets | 21/28 | €712,096 | €753,651 | +€41,554 | +5.8% |
| Tangible fixed assets | 22/27 | €712,096 | €753,651 | +€41,554 | +5.8% |
| Land and buildings | 22 | €712,096 | €752,009 | +€39,913 | +5.6% |
| Furniture and vehicles | 24 | - | €1,641 | +€1,641 | |
| Current assets | 29/58 | €845,376 | €833,498 | -€11,877 | -1.4% |
| Amounts receivable within one year | 40/41 | €0 | €4,350 | +€4,350 | |
| Other amounts receivable | 41 | €0 | €4,350 | +€4,350 | |
| Current investments | 50/53 | €701,828 | €704,680 | +€2,851 | +0.4% |
| Cash at bank and in hand | 54/58 | €121,285 | €102,476 | -€18,809 | -15.5% |
| Deferred charges and accrued income | 490/1 | €22,262 | €21,993 | -€270 | -1.2% |
| Total equity and liabilities | 10/49 | €1,557,472 | €1,587,149 | +€29,677 | +1.9% |
| Equity | 10/15 | €855,274 | €918,694 | +€63,420 | +7.4% |
| Contributions | 10/11 | €173,525 | €173,525 | = | 0.0% |
| Capital | 10 | €173,525 | €173,525 | = | 0.0% |
| Issued capital | 100 | €173,525 | €173,525 | = | 0.0% |
| Reserves | 13 | €681,749 | €745,169 | +€63,420 | +9.3% |
| Non-distributable reserves | 130/1 | €17,353 | €17,353 | = | 0.0% |
| Legal reserve | 130 | €17,353 | €17,353 | = | 0.0% |
| Tax-exempt reserves | 132 | €12,395 | €12,395 | = | 0.0% |
| Distributable reserves | 133 | €652,002 | €715,421 | +€63,420 | +9.7% |
| Amounts payable | 17/49 | €702,198 | €668,455 | -€33,743 | -4.8% |
| Amounts payable within one year | 42/48 | €629,212 | €595,414 | -€33,798 | -5.4% |
| Trade debts | 44 | €70 | €0 | -€70 | -100% |
| Suppliers | 440/4 | €70 | €0 | -€70 | -100% |
| Taxes, remuneration and social security | 45 | €46,000 | €0 | -€46,000 | -100% |
| Taxes | 450/3 | €46,000 | €0 | -€46,000 | -100% |
| Other amounts payable | 47/48 | €583,142 | €595,414 | +€12,272 | +2.1% |
| Accrued charges and deferred income | 492/3 | €72,986 | €73,041 | +€55 | +0.1% |
| Non-recurring operating income | 76A | €187,907 | €0 | -€187,907 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,570 | €48,308 | -€5,262 | -9.8% |
| Other operating charges | 640/8 | €31,779 | €28,478 | -€3,301 | -10.4% |
| Gross operating margin | 9900 | €374,840 | €185,209 | -€189,630 | -50.6% |
| Operating profit (loss) | 9901 | €289,491 | €108,423 | -€181,068 | -62.5% |
| Financial income | 75/76B | €5,103 | €19,755 | +€14,652 | +287% |
| Recurring financial income | 75 | €5,103 | €19,755 | +€14,652 | +287% |
| Financial charges | 65/66B | €43,069 | €43,184 | +€115 | +0.3% |
| Recurring financial charges | 65 | €43,069 | €43,184 | +€115 | +0.3% |
| Profit (loss) for the period before taxes | 9903 | €251,526 | €84,995 | -€166,531 | -66.2% |
| Income taxes | 67/77 | €66,698 | €21,575 | -€45,123 | -67.7% |
| Profit (loss) for the period | 9904 | €184,827 | €63,420 | -€121,407 | -65.7% |
| Profit (loss) for the period to be appropriated | 9905 | €184,827 | €63,420 | -€121,407 | -65.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.