FIVE ELEVEN: what changed
What changed
FIVE ELEVEN
NACE 66.220, Insurance agents and brokers
filed annual accounts (NBB)
Net result for the year
€45,403
2024 · €81,002-€35,599
Equity
€219,457
2024 · €174,054+€45,403
Cash
€4,450
2024 · €50,334-€45,884
Balance sheet total
€1.2m
2024 · €1.4m-€267,451
Largest movements
Assets
- Intangible fixed assets -€139,500
down €139,500 (-12.7%), from €1.1m to €959,289
- Deferred charges and accrued income -€74,234
down €74,234 (-80.1%), from €92,690 to €18,455
- Current investments -€53,000
down €53,000 (-49.5%), from €107,000 to €54,000
- Receivables within one year +€50,322
up €50,322 (+102%), from €49,358 to €99,680
of which Trade receivables: +€38,959
- Cash -€45,884
down €45,884 (-91.2%), from €50,334 to €4,450
mainly Current portion of long-term debt (-€176,651) and Debts after one year (-€119,439)
Equity and liabilities
- Current portion of long-term debt -€176,651
down €176,651 (-59.7%), from €296,090 to €119,439
- Debts after one year -€119,439
down €119,439 (-13.1%), from €911,902 to €792,464
- Reserves +€45,403
up €45,403 (+27.7%), from €164,054 to €209,457
Income statement
- Gross operating margin -€47,289
down €47,289 (-13.9%), from €340,652 to €293,363
- Taxes -€9,057
down €9,057 (-38.0%), from €23,865 to €14,807
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
€81,002
Gross operating margin
-€47,289
Staff costs
-€55
Depreciation
-€431
Other operating charges
-€1,166
Financial income
+€2,079
Financial charges
+€2,205
Taxes
+€9,057
Result 2025
€45,403
raises the resultlowers the result
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
+€198,759
Investment
+€51,447
Financing
-€296,090
Cash 2024
€50,334
From operations (derived)
+€198,759
Net result for the year
+€45,403
Depreciation
+€146,208
Receivables within one year
-€50,322
Deferred charges and accrued income
+€74,234
Trade debts
+€1,747
Tax, wage and social debts
-€7,456
Other debts
-€256
Accrued charges and deferred income
-€10,800
Investment (derived)
+€51,447
Investment in fixed assets (net)
-€1,553
Current investments
+€53,000
Financing
-€296,090
Debts after one year
-€119,439
Current portion of long-term debt
-€176,651
Cash 2025
€4,450
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,424,080 | €1,156,630 | -€267,451 | -18.8% |
| Fixed assets | 21/28 | €1,112,199 | €967,545 | -€144,655 | -13.0% |
| Intangible fixed assets | 21 | €1,098,789 | €959,289 | -€139,500 | -12.7% |
| Tangible fixed assets | 22/27 | €13,410 | €8,256 | -€5,155 | -38.4% |
| Furniture and vehicles | 24 | €13,410 | €8,256 | -€5,155 | -38.4% |
| Current assets | 29/58 | €311,881 | €189,085 | -€122,796 | -39.4% |
| Amounts receivable after more than one year | 29 | €12,500 | €12,500 | = | 0.0% |
| Other amounts receivable | 291 | €12,500 | €12,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €49,358 | €99,680 | +€50,322 | +102% |
| Trade receivables | 40 | €47,617 | €86,575 | +€38,959 | +81.8% |
| Other amounts receivable | 41 | €1,741 | €13,104 | +€11,364 | +653% |
| Current investments | 50/53 | €107,000 | €54,000 | -€53,000 | -49.5% |
| Cash at bank and in hand | 54/58 | €50,334 | €4,450 | -€45,884 | -91.2% |
| Deferred charges and accrued income | 490/1 | €92,690 | €18,455 | -€74,234 | -80.1% |
| Total equity and liabilities | 10/49 | €1,424,080 | €1,156,630 | -€267,451 | -18.8% |
| Equity | 10/15 | €174,054 | €219,457 | +€45,403 | +26.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €164,054 | €209,457 | +€45,403 | +27.7% |
| Distributable reserves | 133 | €164,054 | €209,457 | +€45,403 | +27.7% |
| Amounts payable | 17/49 | €1,250,027 | €937,173 | -€312,854 | -25.0% |
| Amounts payable after more than one year | 17 | €911,902 | €792,464 | -€119,439 | -13.1% |
| Financial debts | 170/4 | €911,902 | €792,464 | -€119,439 | -13.1% |
| Amounts payable within one year | 42/48 | €327,324 | €144,709 | -€182,616 | -55.8% |
| Current portion of amounts payable after more than one year | 42 | €296,090 | €119,439 | -€176,651 | -59.7% |
| Trade debts | 44 | €16,062 | €17,809 | +€1,747 | +10.9% |
| Suppliers | 440/4 | €16,062 | €17,809 | +€1,747 | +10.9% |
| Taxes, remuneration and social security | 45 | €14,917 | €7,461 | -€7,456 | -50.0% |
| Taxes | 450/3 | €10,305 | €2,425 | -€7,880 | -76.5% |
| Remuneration and social security | 454/9 | €4,612 | €5,037 | +€424 | +9.2% |
| Other amounts payable | 47/48 | €256 | €0 | -€256 | -100% |
| Accrued charges and deferred income | 492/3 | €10,800 | €0 | -€10,800 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €51,916 | €51,970 | +€55 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €145,777 | €146,208 | +€431 | +0.3% |
| Other operating charges | 640/8 | €313 | €1,479 | +€1,166 | +372% |
| Gross operating margin | 9900 | €340,652 | €293,363 | -€47,289 | -13.9% |
| Operating profit (loss) | 9901 | €142,646 | €93,706 | -€48,940 | -34.3% |
| Financial income | 75/76B | €2,649 | €4,728 | +€2,079 | +78.5% |
| Recurring financial income | 75 | €2,649 | €4,728 | +€2,079 | +78.5% |
| Financial charges | 65/66B | €40,428 | €38,223 | -€2,205 | -5.5% |
| Recurring financial charges | 65 | €40,428 | €38,223 | -€2,205 | -5.5% |
| Profit (loss) for the period before taxes | 9903 | €104,867 | €60,211 | -€44,656 | -42.6% |
| Income taxes | 67/77 | €23,865 | €14,807 | -€9,057 | -38.0% |
| Profit (loss) for the period | 9904 | €81,002 | €45,403 | -€35,599 | -43.9% |
| Profit (loss) for the period to be appropriated | 9905 | €81,002 | €45,403 | -€35,599 | -43.9% |
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 2 November 2026 via checked.be.