F&L: what changed
What changed
F&L
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€284,251
2024 · €172,994+€111,257
Equity
€1.4m
2024 · €1.6m-€228,957
Cash
€228,851
2024 · €236,856-€8,004
Balance sheet total
€2.3m
2024 · €2.0m+€330,752
Largest movements
Assets
- Current investments +€500,895
up €500,895 (+52,900%), from €947 to €501,842
- Tangible fixed assets -€120,521
down €120,521 (-7.6%), from €1.6m to €1.5m
of which Land and buildings: -€148,499
- Receivables within one year -€44,419
down €44,419 (-29.8%), from €149,021 to €104,602
Equity and liabilities
- Other debts +€404,956
up €404,956 (+374%), from €108,252 to €513,207
- Reserves -€227,357
down €227,357 (-19.8%), from €1.1m to €922,505
of which Distributable reserves: -€378,689
- Debts after one year +€93,614
up €93,614 (+82.2%), from €113,835 to €207,449
- Provisions +€50,444
up €50,444 (+299%), from €16,890 to €67,335
Income statement
- Gross operating margin +€167,349
up €167,349 (+54.5%), from €306,859 to €474,209
- Depreciation +€23,181
up €23,181 (+94.9%), from €24,427 to €47,608
- Other operating charges -€20,989
down €20,989 (-64.7%), from €32,428 to €11,438
- Taxes -€17,070
down €17,070 (-19.4%), from €88,004 to €70,933
- Financial income -€16,133
down €16,133 (-92.7%), from €17,412 to €1,279
of which Financial income: -€16,133
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.
Result 2024
€172,994
Gross operating margin
+€167,349
Depreciation
-€23,181
Other operating charges
+€20,989
Financial income
-€16,133
Financial charges
-€4,334
Taxes
+€17,070
Deferred taxes and other
-€50,504
Result 2025
€284,251
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€840,171
Investment
-€428,582
Financing
-€419,593
Cash 2024
€236,856
From operations (derived)
+€840,171
Net result for the year
+€284,251
Depreciation
+€47,608
Receivables within one year
+€44,419
Deferred charges and accrued income
-€2,202
Provisions
+€50,444
Trade debts
-€2,550
Tax, wage and social debts
+€6,854
Other debts
+€404,956
Accrued charges and deferred income
+€6,390
Investment (derived)
-€428,582
Investment in fixed assets (net)
+€72,313
Current investments
-€500,895
Financing
-€419,593
Debts after one year
+€93,614
Contributions, distributions and other
-€513,207
Cash 2025
€228,851
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,969,538 | €2,300,290 | +€330,752 | +16.8% |
| Fixed assets | 21/28 | €1,576,631 | €1,456,709 | -€119,921 | -7.6% |
| Tangible fixed assets | 22/27 | €1,576,631 | €1,456,109 | -€120,521 | -7.6% |
| Land and buildings | 22 | €1,571,584 | €1,423,085 | -€148,499 | -9.4% |
| Furniture and vehicles | 24 | €5,047 | €33,024 | +€27,978 | +554% |
| Financial fixed assets | 28 | - | €600 | +€600 | |
| Current assets | 29/58 | €392,907 | €843,581 | +€450,673 | +115% |
| Amounts receivable within one year | 40/41 | €149,021 | €104,602 | -€44,419 | -29.8% |
| Trade receivables | 40 | €149,021 | €104,602 | -€44,419 | -29.8% |
| Current investments | 50/53 | €947 | €501,842 | +€500,895 | +52,900% |
| Cash at bank and in hand | 54/58 | €236,856 | €228,851 | -€8,004 | -3.4% |
| Deferred charges and accrued income | 490/1 | €6,083 | €8,286 | +€2,202 | +36.2% |
| Total equity and liabilities | 10/49 | €1,969,538 | €2,300,290 | +€330,752 | +16.8% |
| Equity | 10/15 | €1,629,970 | €1,401,013 | -€228,957 | -14.0% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €1,149,862 | €922,505 | -€227,357 | -19.8% |
| Tax-exempt reserves | 132 | €50,671 | €202,004 | +€151,332 | +299% |
| Distributable reserves | 133 | €1,099,191 | €720,502 | -€378,689 | -34.5% |
| Profit (loss) carried forward | 14 | €455,108 | €453,508 | -€1,600 | -0.4% |
| Provisions and deferred taxes | 16 | €16,890 | €67,335 | +€50,444 | +299% |
| Deferred taxes | 168 | €16,890 | €67,335 | +€50,444 | +299% |
| Amounts payable | 17/49 | €322,678 | €831,943 | +€509,265 | +158% |
| Amounts payable after more than one year | 17 | €113,835 | €207,449 | +€93,614 | +82.2% |
| Other amounts payable | 178/9 | €113,835 | €207,449 | +€93,614 | +82.2% |
| Amounts payable within one year | 42/48 | €199,879 | €609,139 | +€409,260 | +205% |
| Trade debts | 44 | €3,429 | €879 | -€2,550 | -74.4% |
| Suppliers | 440/4 | €3,429 | €879 | -€2,550 | -74.4% |
| Taxes, remuneration and social security | 45 | €88,198 | €95,052 | +€6,854 | +7.8% |
| Taxes | 450/3 | €88,198 | €95,052 | +€6,854 | +7.8% |
| Other amounts payable | 47/48 | €108,252 | €513,207 | +€404,956 | +374% |
| Accrued charges and deferred income | 492/3 | €8,964 | €15,354 | +€6,390 | +71.3% |
| Non-recurring operating income | 76A | €0 | €213,811 | +€213,811 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,427 | €47,608 | +€23,181 | +94.9% |
| Other operating charges | 640/8 | €32,428 | €11,438 | -€20,989 | -64.7% |
| Gross operating margin | 9900 | €306,859 | €474,209 | +€167,349 | +54.5% |
| Operating profit (loss) | 9901 | €250,004 | €415,162 | +€165,157 | +66.1% |
| Financial income | 75/76B | €17,412 | €1,279 | -€16,133 | -92.7% |
| Recurring financial income | 75 | €17,412 | €1,279 | -€16,133 | -92.7% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €6,479 | €10,812 | +€4,334 | +66.9% |
| Recurring financial charges | 65 | €6,479 | €10,812 | +€4,334 | +66.9% |
| Profit (loss) for the period before taxes | 9903 | €260,937 | €405,628 | +€144,691 | +55.5% |
| Transfer from deferred taxes | 780 | €60 | €509 | +€449 | +749% |
| Transfer to deferred taxes | 680 | - | €50,953 | +€50,953 | |
| Income taxes | 67/77 | €88,004 | €70,933 | -€17,070 | -19.4% |
| Profit (loss) for the period | 9904 | €172,994 | €284,251 | +€111,257 | +64.3% |
| Transfer from tax-exempt reserves | 789 | €180 | €1,526 | +€1,346 | +749% |
| Transfer to tax-exempt reserves | 689 | €0 | €152,858 | +€152,858 | |
| Profit (loss) for the period to be appropriated | 9905 | €173,174 | €132,918 | -€40,255 | -23.2% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.