F.L.H.: what changed
Two financial 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.
F.L.H.
Largest movements
- Tangible fixed assets +€153,381
up €153,381 (+29.4%), from €520,956 to €674,336
of which Land and buildings: +€151,763
- Receivables within one year -€92,915
down €92,915 (-58.7%), from €158,420 to €65,505
of which Other amounts receivable: -€101,979
- Cash +€90,738
up €90,738 (+92.6%), from €97,993 to €188,732
mainly Other debts (+€195,781) and Net result for the year (+€165,086)
- Current investments +€20,433
up €20,433 (+6.4%), from €317,565 to €337,999
- Other debts +€195,781
up €195,781 (+67.6%), from €289,642 to €485,423
- Reserves -€33,000
down €33,000 (-3.5%), from €938,320 to €905,320
of which Distributable reserves: -€29,980
- Tax, wage and social debts +€31,919
up €31,919 (+129%), from €24,672 to €56,591
- Trade debts -€23,689
down €23,689 (-57.4%), from €41,295 to €17,606
- Gross operating margin +€92,351
up €92,351 (+180%), from €51,306 to €143,658
- Financial income -€80,671
down €80,671 (-40.2%), from €200,685 to €120,014
- Taxes +€17,019
up €17,019 (+70.5%), from €24,136 to €41,155
- Depreciation +€8,176
up €8,176 (+35.2%), from €23,248 to €31,424
- Financial charges +€8,093
up €8,093 (+63.1%), from €12,832 to €20,925
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.
Derived cash bridge
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 | €1,334,979 | €1,507,075 | +€172,096 | +12.9% |
| Fixed assets | 21/28 | €761,000 | €914,381 | +€153,381 | +20.2% |
| Tangible fixed assets | 22/27 | €520,956 | €674,336 | +€153,381 | +29.4% |
| Land and buildings | 22 | €487,015 | €638,778 | +€151,763 | +31.2% |
| Plant, machinery and equipment | 23 | €33,941 | €34,253 | +€313 | +0.9% |
| Furniture and vehicles | 24 | - | €1,305 | +€1,305 | |
| Financial fixed assets | 28 | €240,044 | €240,044 | = | 0.0% |
| Current assets | 29/58 | €573,979 | €592,694 | +€18,716 | +3.3% |
| Amounts receivable within one year | 40/41 | €158,420 | €65,505 | -€92,915 | -58.7% |
| Trade receivables | 40 | €38,650 | €47,715 | +€9,064 | +23.5% |
| Other amounts receivable | 41 | €119,770 | €17,790 | -€101,979 | -85.1% |
| Current investments | 50/53 | €317,565 | €337,999 | +€20,433 | +6.4% |
| Cash at bank and in hand | 54/58 | €97,993 | €188,732 | +€90,738 | +92.6% |
| Deferred charges and accrued income | 490/1 | - | €459 | +€459 | |
| Total equity and liabilities | 10/49 | €1,334,979 | €1,507,075 | +€172,096 | +12.9% |
| Equity | 10/15 | €979,369 | €947,455 | -€31,914 | -3.3% |
| Contributions | 10/11 | €30,200 | €30,200 | = | 0.0% |
| Revaluation surpluses | 12 | €8,657 | €8,657 | = | 0.0% |
| Reserves | 13 | €938,320 | €905,320 | -€33,000 | -3.5% |
| Non-distributable reserves | 130/1 | €3,020 | - | -€3,020 | |
| Reserves not available under the articles | 1311 | €3,020 | - | -€3,020 | |
| Distributable reserves | 133 | €935,300 | €905,320 | -€29,980 | -3.2% |
| Profit (loss) carried forward | 14 | €2,192 | €3,278 | +€1,086 | +49.5% |
| Amounts payable | 17/49 | €355,610 | €559,620 | +€204,010 | +57.4% |
| Amounts payable within one year | 42/48 | €355,610 | €559,620 | +€204,010 | +57.4% |
| Trade debts | 44 | €41,295 | €17,606 | -€23,689 | -57.4% |
| Suppliers | 440/4 | €41,295 | €17,606 | -€23,689 | -57.4% |
| Taxes, remuneration and social security | 45 | €24,672 | €56,591 | +€31,919 | +129% |
| Taxes | 450/3 | €24,672 | €56,591 | +€31,919 | +129% |
| Other amounts payable | 47/48 | €289,642 | €485,423 | +€195,781 | +67.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,248 | €31,424 | +€8,176 | +35.2% |
| Other operating charges | 640/8 | €3,957 | €5,081 | +€1,125 | +28.4% |
| Gross operating margin | 9900 | €51,306 | €143,658 | +€92,351 | +180% |
| Operating profit (loss) | 9901 | €24,102 | €107,152 | +€83,050 | +345% |
| Financial income | 75/76B | €200,685 | €120,014 | -€80,671 | -40.2% |
| Recurring financial income | 75 | €200,685 | €120,014 | -€80,671 | -40.2% |
| Financial charges | 65/66B | €12,832 | €20,925 | +€8,093 | +63.1% |
| Recurring financial charges | 65 | €12,832 | €20,925 | +€8,093 | +63.1% |
| Profit (loss) for the period before taxes | 9903 | €211,954 | €206,241 | -€5,714 | -2.7% |
| Income taxes | 67/77 | €24,136 | €41,155 | +€17,019 | +70.5% |
| Profit (loss) for the period | 9904 | €187,818 | €165,086 | -€22,732 | -12.1% |
| Profit (loss) for the period to be appropriated | 9905 | €187,818 | €165,086 | -€22,732 | -12.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.