F.L. MANAGEMENT: 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. MANAGEMENT
Largest movements
- Cash +€122,808
up €122,808 (+369%), from €33,252 to €156,060
mainly Net result for the year (+€149,294) and Depreciation (+€17,765)
- Receivables within one year +€18,288
up €18,288 (+9.2%), from €197,881 to €216,169
of which Trade receivables: +€11,559
- Tangible fixed assets -€14,740
down €14,740 (-30.7%), from €48,066 to €33,326
of which Furniture and vehicles: -€17,765
- Reserves +€146,500
up €146,500 (+85.7%), from €171,000 to €317,500
- Debts after one year -€12,955
down €12,955 (-100%), from €12,955 to €0
- Short-term financial debts +€8,550
up €8,550 (+37.3%), from €22,947 to €31,496
- Current portion of long-term debt -€6,552
down €6,552 (-33.6%), from €19,507 to €12,955
- Contributions -€5,200
down €5,200 (-83.9%), from €6,200 to €1,000
- Gross operating margin +€89,582
up €89,582 (+57.3%), from €156,255 to €245,836
- Taxes +€26,853
up €26,853 (+55.7%), from €48,200 to €75,053
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 | €280,020 | €408,841 | +€128,821 | +46.0% |
| Fixed assets | 21/28 | €48,145 | €33,405 | -€14,740 | -30.6% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €48,066 | €33,326 | -€14,740 | -30.7% |
| Furniture and vehicles | 24 | €48,066 | €30,301 | -€17,765 | -37.0% |
| Assets under construction and advance payments | 27 | - | €3,025 | +€3,025 | |
| Financial fixed assets | 28 | €79 | €79 | = | 0.0% |
| Current assets | 29/58 | €231,875 | €375,436 | +€143,561 | +61.9% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €197,881 | €216,169 | +€18,288 | +9.2% |
| Trade receivables | 40 | €152,542 | €164,101 | +€11,559 | +7.6% |
| Other amounts receivable | 41 | €45,339 | €52,068 | +€6,729 | +14.8% |
| Cash at bank and in hand | 54/58 | €33,252 | €156,060 | +€122,808 | +369% |
| Deferred charges and accrued income | 490/1 | €742 | €3,207 | +€2,465 | +332% |
| Total equity and liabilities | 10/49 | €280,020 | €408,841 | +€128,821 | +46.0% |
| Equity | 10/15 | €177,200 | €318,794 | +€141,594 | +79.9% |
| Contributions | 10/11 | €6,200 | €1,000 | -€5,200 | -83.9% |
| Reserves | 13 | €171,000 | €317,500 | +€146,500 | +85.7% |
| Distributable reserves | 133 | €171,000 | €317,500 | +€146,500 | +85.7% |
| Profit (loss) carried forward | 14 | €0 | €294 | +€294 | |
| Amounts payable | 17/49 | €102,820 | €90,047 | -€12,773 | -12.4% |
| Amounts payable after more than one year | 17 | €12,955 | €0 | -€12,955 | -100% |
| Financial debts | 170/4 | €12,955 | €0 | -€12,955 | -100% |
| Amounts payable within one year | 42/48 | €89,865 | €90,047 | +€182 | +0.2% |
| Current portion of amounts payable after more than one year | 42 | €19,507 | €12,955 | -€6,552 | -33.6% |
| Financial debts | 43 | €22,947 | €31,496 | +€8,550 | +37.3% |
| Credit institutions | 430/8 | €22,947 | €31,496 | +€8,550 | +37.3% |
| Trade debts | 44 | €6,569 | €1,759 | -€4,810 | -73.2% |
| Suppliers | 440/4 | €6,569 | €1,759 | -€4,810 | -73.2% |
| Taxes, remuneration and social security | 45 | €40,047 | €41,336 | +€1,289 | +3.2% |
| Taxes | 450/3 | €40,047 | €41,336 | +€1,289 | +3.2% |
| Other amounts payable | 47/48 | €796 | €2,500 | +€1,704 | +214% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,371 | €17,765 | +€394 | +2.3% |
| Other operating charges | 640/8 | €2,009 | €1,253 | -€757 | -37.7% |
| Gross operating margin | 9900 | €156,255 | €245,836 | +€89,582 | +57.3% |
| Operating profit (loss) | 9901 | €136,875 | €226,819 | +€89,944 | +65.7% |
| Financial income | 75/76B | €5 | €2 | -€3 | -53.6% |
| Recurring financial income | 75 | €5 | €2 | -€3 | -53.6% |
| Financial charges | 65/66B | €1,963 | €2,474 | +€510 | +26.0% |
| Recurring financial charges | 65 | €1,963 | €2,474 | +€510 | +26.0% |
| Profit (loss) for the period before taxes | 9903 | €134,916 | €224,347 | +€89,431 | +66.3% |
| Income taxes | 67/77 | €48,200 | €75,053 | +€26,853 | +55.7% |
| Profit (loss) for the period | 9904 | €86,716 | €149,294 | +€62,578 | +72.2% |
| Profit (loss) for the period to be appropriated | 9905 | €86,716 | €149,294 | +€62,578 | +72.2% |
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 19 October 2026 via checked.be.