Euroflex: 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.
Euroflex
Largest movements
- Tangible fixed assets +€9,060
up €9,060 (+11.0%), from €82,560 to €91,620
of which Furniture and vehicles: +€8,050
- Receivables within one year -€8,242
down €8,242 (-23.9%), from €34,420 to €26,178
of which Other amounts receivable: -€5,469
- Cash -€4,937
down €4,937 (-76.7%), from €6,433 to €1,496
mainly Investment in fixed assets (net) (-€52,436) and Net result for the year (-€37,971)
- Intangible fixed assets -€2,850
down €2,850 (-11.4%), from €24,932 to €22,082
- Deferred charges and accrued income +€2,631
new in 2025: €2,631
- Trade debts +€56,674
up €56,674 (+179.4%), from €31,598 to €88,272
- Profit (loss) carried forward -€37,971
down €37,971 (-389.2%), from -€9,756 to -€47,726
- Debts after one year -€20,331
down €20,331 (-36.5%), from €55,761 to €35,430
- Other debts -€3,877
down €3,877 (-11.5%), from €33,798 to €29,921
- Depreciation +€16,189
up €16,189 (+54.3%), from €29,836 to €46,026
- Gross operating margin -€11,097
down €11,097 (-38.4%), from €28,898 to €17,801
- Other operating charges -€4,859
down €4,859 (-64.7%), from €7,512 to €2,653
- Financial charges +€695
up €695 (+126.2%), from €551 to €1,245
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 | €148,344 | €144,207 | -€4,137 | -2.8% |
| Fixed assets | 21/28 | €107,491 | €113,902 | +€6,410 | +6.0% |
| Intangible fixed assets | 21 | €24,932 | €22,082 | -€2,850 | -11.4% |
| Tangible fixed assets | 22/27 | €82,560 | €91,620 | +€9,060 | +11.0% |
| Plant, machinery and equipment | 23 | €1,929 | €2,940 | +€1,010 | +52.4% |
| Furniture and vehicles | 24 | €80,630 | €88,680 | +€8,050 | +10.0% |
| Financial fixed assets | 28 | - | €200 | +€200 | |
| Current assets | 29/58 | €40,852 | €30,305 | -€10,547 | -25.8% |
| Amounts receivable within one year | 40/41 | €34,420 | €26,178 | -€8,242 | -23.9% |
| Trade receivables | 40 | €27,101 | €24,328 | -€2,773 | -10.2% |
| Other amounts receivable | 41 | €7,319 | €1,850 | -€5,469 | -74.7% |
| Cash at bank and in hand | 54/58 | €6,433 | €1,496 | -€4,937 | -76.7% |
| Deferred charges and accrued income | 490/1 | - | €2,631 | +€2,631 | |
| Total equity and liabilities | 10/49 | €148,344 | €144,207 | -€4,137 | -2.8% |
| Equity | 10/15 | -€5,956 | -€43,926 | -€37,971 | -637.6% |
| Contributions | 10/11 | €3,800 | €3,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,756 | -€47,726 | -€37,971 | -389.2% |
| Amounts payable | 17/49 | €154,299 | €188,133 | +€33,834 | +21.9% |
| Amounts payable after more than one year | 17 | €55,761 | €35,430 | -€20,331 | -36.5% |
| Other amounts payable | 178/9 | €55,761 | €35,430 | -€20,331 | -36.5% |
| Amounts payable within one year | 42/48 | €98,538 | €152,703 | +€54,165 | +55.0% |
| Financial debts | 43 | €31,903 | €31,870 | -€33 | -0.1% |
| Other loans | 439 | €31,903 | €31,870 | -€33 | -0.1% |
| Trade debts | 44 | €31,598 | €88,272 | +€56,674 | +179.4% |
| Suppliers | 440/4 | €31,598 | €88,272 | +€56,674 | +179.4% |
| Taxes, remuneration and social security | 45 | €1,239 | €2,640 | +€1,401 | +113.1% |
| Taxes | 450/3 | €1,239 | €2,640 | +€1,401 | +113.1% |
| Other amounts payable | 47/48 | €33,798 | €29,921 | -€3,877 | -11.5% |
| Non-recurring operating income | 76A | €1,943 | €1,671 | -€271 | -14.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,836 | €46,026 | +€16,189 | +54.3% |
| Other operating charges | 640/8 | €7,512 | €2,653 | -€4,859 | -64.7% |
| Non-recurring operating charges | 66A | €870 | €5,871 | +€5,001 | +575.1% |
| Gross operating margin | 9900 | €28,898 | €17,801 | -€11,097 | -38.4% |
| Operating profit (loss) | 9901 | -€9,320 | -€36,748 | -€27,428 | -294.3% |
| Financial income | 75/76B | €115 | €23 | -€93 | -80.3% |
| Recurring financial income | 75 | €115 | €23 | -€93 | -80.3% |
| Financial charges | 65/66B | €551 | €1,245 | +€695 | +126.2% |
| Recurring financial charges | 65 | €551 | €1,245 | +€695 | +126.2% |
| Profit (loss) for the period before taxes | 9903 | -€9,756 | -€37,971 | -€28,215 | -289.2% |
| Profit (loss) for the period | 9904 | -€9,756 | -€37,971 | -€28,215 | -289.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,756 | -€37,971 | -€28,215 | -289.2% |
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 30 September 2026 via checked.be.