FLAGDEL: 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.
FLAGDEL
Largest movements
- Tangible fixed assets -€43,140
down €43,140 (-19.4%), from €222,901 to €179,762
of which Furniture and vehicles: -€28,880
- Cash -€26,053
down €26,053 (-50.6%), from €51,537 to €25,484
mainly Net result for the year (-€40,019) and Tax, wage and social debts (-€19,220)
- Receivables within one year -€15,692
down €15,692 (-21.5%), from €73,100 to €57,409
of which Trade receivables: -€12,105
- Stocks and contracts +€5,308
up €5,308 (+54.9%), from €9,668 to €14,976
- Profit (loss) carried forward -€40,019
new in 2025: -€40,019
- Tax, wage and social debts -€19,220
down €19,220 (-83.1%), from €23,127 to €3,907
of which Taxes: -€17,920
- Debts after one year -€9,686
down €9,686 (-59.2%), from €16,348 to €6,662
- Other debts -€9,226
down €9,226 (-70.8%), from €13,026 to €3,800
- Trade debts -€3,703
down €3,703 (-9.1%), from €40,644 to €36,940
- Gross operating margin -€61,437
down €61,437 (-62.5%), from €98,354 to €36,918
- Taxes -€6,140
down €6,140 (-93.4%), from €6,572 to €432
- Financial income -€1,278
down €1,278 (-99.2%), from €1,289 to €11
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 | €365,710 | €284,212 | -€81,499 | -22.3% |
| Fixed assets | 21/28 | €224,249 | €181,109 | -€43,140 | -19.2% |
| Tangible fixed assets | 22/27 | €222,901 | €179,762 | -€43,140 | -19.4% |
| Land and buildings | 22 | €6,197 | €4,909 | -€1,288 | -20.8% |
| Plant, machinery and equipment | 23 | €120,626 | €107,655 | -€12,971 | -10.8% |
| Furniture and vehicles | 24 | €96,078 | €67,198 | -€28,880 | -30.1% |
| Financial fixed assets | 28 | €1,347 | €1,347 | = | 0.0% |
| Current assets | 29/58 | €141,462 | €103,102 | -€38,359 | -27.1% |
| Stocks and contracts in progress | 3 | €9,668 | €14,976 | +€5,308 | +54.9% |
| Stocks | 30/36 | €9,668 | €14,976 | +€5,308 | +54.9% |
| Amounts receivable within one year | 40/41 | €73,100 | €57,409 | -€15,692 | -21.5% |
| Trade receivables | 40 | €39,324 | €27,219 | -€12,105 | -30.8% |
| Other amounts receivable | 41 | €33,777 | €30,190 | -€3,587 | -10.6% |
| Cash at bank and in hand | 54/58 | €51,537 | €25,484 | -€26,053 | -50.6% |
| Deferred charges and accrued income | 490/1 | €7,156 | €5,233 | -€1,923 | -26.9% |
| Total equity and liabilities | 10/49 | €365,710 | €284,212 | -€81,499 | -22.3% |
| Equity | 10/15 | €263,235 | €223,216 | -€40,019 | -15.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €244,643 | €244,643 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Other | 1319 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €242,643 | €242,643 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€40,019 | -€40,019 | |
| Amounts payable | 17/49 | €102,475 | €60,996 | -€41,480 | -40.5% |
| Amounts payable after more than one year | 17 | €16,348 | €6,662 | -€9,686 | -59.2% |
| Financial debts | 170/4 | €16,348 | €6,662 | -€9,686 | -59.2% |
| Amounts payable within one year | 42/48 | €86,127 | €54,334 | -€31,793 | -36.9% |
| Current portion of amounts payable after more than one year | 42 | €9,330 | €9,686 | +€356 | +3.8% |
| Trade debts | 44 | €40,644 | €36,940 | -€3,703 | -9.1% |
| Suppliers | 440/4 | €40,644 | €36,940 | -€3,703 | -9.1% |
| Taxes, remuneration and social security | 45 | €23,127 | €3,907 | -€19,220 | -83.1% |
| Taxes | 450/3 | €21,827 | €3,907 | -€17,920 | -82.1% |
| Remuneration and social security | 454/9 | €1,300 | - | -€1,300 | |
| Other amounts payable | 47/48 | €13,026 | €3,800 | -€9,226 | -70.8% |
| Remuneration, social security and pensions | 62 | €402 | €75 | -€327 | -81.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,031 | €49,497 | -€534 | -1.1% |
| Other operating charges | 640/8 | €19,902 | €20,218 | +€316 | +1.6% |
| Gross operating margin | 9900 | €98,354 | €36,918 | -€61,437 | -62.5% |
| Operating profit (loss) | 9901 | €28,019 | -€32,873 | -€60,892 | |
| Financial income | 75/76B | €1,289 | €11 | -€1,278 | -99.2% |
| Recurring financial income | 75 | €1,289 | €11 | -€1,278 | -99.2% |
| Financial charges | 65/66B | €6,997 | €6,725 | -€272 | -3.9% |
| Recurring financial charges | 65 | €6,997 | €6,725 | -€272 | -3.9% |
| Profit (loss) for the period before taxes | 9903 | €22,311 | -€39,587 | -€61,898 | |
| Income taxes | 67/77 | €6,572 | €432 | -€6,140 | -93.4% |
| Profit (loss) for the period | 9904 | €15,739 | -€40,019 | -€55,758 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,739 | -€40,019 | -€55,758 |
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 17 October 2026 via checked.be.