FL & CO: 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.
FL & CO
Largest movements
- Receivables within one year -€25,092
down €25,092 (-70.8%), from €35,416 to €10,324
of which Trade receivables: -€28,760
- Tangible fixed assets -€25,078
down €25,078 (-8.1%), from €308,656 to €283,578
of which Land and buildings: -€15,762
- Cash +€14,736
up €14,736 (+29.5%), from €49,928 to €64,664
mainly Depreciation (+€27,876) and Receivables within one year (+€25,092)
- Debts after one year -€30,667
down €30,667 (-20.8%), from €147,177 to €116,510
- Tax, wage and social debts -€8,042
down €8,042 (-82.8%), from €9,712 to €1,670
- Gross operating margin -€25,520
down €25,520 (-37.3%), from €68,467 to €42,947
- Taxes -€5,478
down €5,478 (-73.5%), from €7,457 to €1,979
- Depreciation -€1,782
down €1,782 (-6.0%), from €29,658 to €27,876
- Financial charges -€1,113
down €1,113 (-13.1%), from €8,471 to €7,358
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 | €420,846 | €382,910 | -€37,936 | -9.0% |
| Fixed assets | 21/28 | €308,706 | €283,628 | -€25,078 | -8.1% |
| Tangible fixed assets | 22/27 | €308,656 | €283,578 | -€25,078 | -8.1% |
| Land and buildings | 22 | €297,729 | €281,967 | -€15,762 | -5.3% |
| Furniture and vehicles | 24 | €10,927 | €1,611 | -€9,316 | -85.3% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €112,140 | €99,282 | -€12,858 | -11.5% |
| Amounts receivable within one year | 40/41 | €35,416 | €10,324 | -€25,092 | -70.8% |
| Trade receivables | 40 | €35,416 | €6,656 | -€28,760 | -81.2% |
| Other amounts receivable | 41 | - | €3,668 | +€3,668 | |
| Current investments | 50/53 | €24,458 | €21,864 | -€2,594 | -10.6% |
| Cash at bank and in hand | 54/58 | €49,928 | €64,664 | +€14,736 | +29.5% |
| Deferred charges and accrued income | 490/1 | €2,338 | €2,429 | +€91 | +3.9% |
| Total equity and liabilities | 10/49 | €420,846 | €382,910 | -€37,936 | -9.0% |
| Equity | 10/15 | €221,410 | €223,688 | +€2,278 | +1.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €55,860 | €55,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €54,000 | €54,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €146,950 | €149,228 | +€2,278 | +1.6% |
| Amounts payable | 17/49 | €199,436 | €159,222 | -€40,214 | -20.2% |
| Amounts payable after more than one year | 17 | €147,177 | €116,510 | -€30,667 | -20.8% |
| Financial debts | 170/4 | €147,177 | €116,510 | -€30,667 | -20.8% |
| Amounts payable within one year | 42/48 | €51,609 | €42,146 | -€9,463 | -18.3% |
| Current portion of amounts payable after more than one year | 42 | €34,506 | €32,373 | -€2,133 | -6.2% |
| Trade debts | 44 | €2,691 | €5,685 | +€2,994 | +111.3% |
| Suppliers | 440/4 | €2,691 | €5,685 | +€2,994 | +111.3% |
| Taxes, remuneration and social security | 45 | €9,712 | €1,670 | -€8,042 | -82.8% |
| Taxes | 450/3 | €9,712 | €1,670 | -€8,042 | -82.8% |
| Other amounts payable | 47/48 | €4,700 | €2,418 | -€2,282 | -48.6% |
| Accrued charges and deferred income | 492/3 | €650 | €566 | -€84 | -12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,658 | €27,876 | -€1,782 | -6.0% |
| Other operating charges | 640/8 | €2,516 | €2,587 | +€71 | +2.8% |
| Non-recurring operating charges | 66A | - | €0 | +€0 | |
| Gross operating margin | 9900 | €68,467 | €42,947 | -€25,520 | -37.3% |
| Operating profit (loss) | 9901 | €36,293 | €12,485 | -€23,808 | -65.6% |
| Financial income | 75/76B | €1,391 | €1,547 | +€156 | +11.3% |
| Recurring financial income | 75 | €1,391 | €1,547 | +€156 | +11.3% |
| Financial charges | 65/66B | €8,471 | €7,358 | -€1,113 | -13.1% |
| Recurring financial charges | 65 | €8,471 | €7,358 | -€1,113 | -13.1% |
| Profit (loss) for the period before taxes | 9903 | €29,213 | €6,675 | -€22,538 | -77.2% |
| Income taxes | 67/77 | €7,457 | €1,979 | -€5,478 | -73.5% |
| Profit (loss) for the period | 9904 | €21,756 | €4,696 | -€17,060 | -78.4% |
| Profit (loss) for the period to be appropriated | 9905 | €21,756 | €4,696 | -€17,060 | -78.4% |
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 11 October 2026 via checked.be.