Flagstone: 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.
Flagstone
Largest movements
- Receivables within one year -€15,983
down €15,983 (-12.6%), from €127,198 to €111,214
of which Trade receivables: -€10,011
- Intangible fixed assets +€14,481
up €14,481 (+12.5%), from €115,751 to €130,232
- Tangible fixed assets -€9,360
down €9,360 (-43.0%), from €21,759 to €12,400
of which Leasing and similar rights: -€7,937
- Deferred charges and accrued income +€3,514
up €3,514 (+235.5%), from €1,493 to €5,007
- Short-term financial debts -€13,927
down €13,927 (-59.8%), from €23,275 to €9,348
- Tax, wage and social debts +€8,292
up €8,292 (+9.5%), from €87,732 to €96,024
of which Remuneration and social security: +€7,300
- Trade debts +€7,804
up €7,804 (+50.5%), from €15,460 to €23,264
- Profit (loss) carried forward -€6,469
down €6,469 (-132.8%), from -€4,873 to -€11,343
- Debts after one year -€4,709
down €4,709 (-66.0%), from €7,131 to €2,422
- Gross operating margin +€72,947
up €72,947 (+17.5%), from €416,092 to €489,039
- Staff costs +€37,679
up €37,679 (+10.7%), from €351,776 to €389,455
- Depreciation +€8,262
up €8,262 (+10.7%), from €77,379 to €85,640
- Taxes +€6,293
up €6,293 (+772.9%), from €814 to €7,107
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 | €271,335 | €264,593 | -€6,742 | -2.5% |
| Fixed assets | 21/28 | €141,987 | €147,108 | +€5,121 | +3.6% |
| Intangible fixed assets | 21 | €115,751 | €130,232 | +€14,481 | +12.5% |
| Tangible fixed assets | 22/27 | €21,759 | €12,400 | -€9,360 | -43.0% |
| Plant, machinery and equipment | 23 | €2,940 | €1,517 | -€1,423 | -48.4% |
| Leasing and similar rights | 25 | €18,819 | €10,882 | -€7,937 | -42.2% |
| Financial fixed assets | 28 | €4,477 | €4,477 | = | 0.0% |
| Current assets | 29/58 | €129,348 | €117,485 | -€11,863 | -9.2% |
| Amounts receivable within one year | 40/41 | €127,198 | €111,214 | -€15,983 | -12.6% |
| Trade receivables | 40 | €86,663 | €76,652 | -€10,011 | -11.6% |
| Other amounts receivable | 41 | €40,535 | €34,562 | -€5,973 | -14.7% |
| Cash at bank and in hand | 54/58 | €658 | €1,264 | +€606 | +92.1% |
| Deferred charges and accrued income | 490/1 | €1,493 | €5,007 | +€3,514 | +235.5% |
| Total equity and liabilities | 10/49 | €271,335 | €264,593 | -€6,742 | -2.5% |
| Equity | 10/15 | €73,677 | €67,207 | -€6,469 | -8.8% |
| Contributions | 10/11 | €78,550 | €78,550 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€4,873 | -€11,343 | -€6,469 | -132.8% |
| Amounts payable | 17/49 | €197,659 | €197,386 | -€273 | -0.1% |
| Amounts payable after more than one year | 17 | €7,131 | €2,422 | -€4,709 | -66.0% |
| Financial debts | 170/4 | €7,131 | €2,422 | -€4,709 | -66.0% |
| Amounts payable within one year | 42/48 | €190,527 | €194,964 | +€4,437 | +2.3% |
| Current portion of amounts payable after more than one year | 42 | €38,200 | €39,968 | +€1,768 | +4.6% |
| Financial debts | 43 | €23,275 | €9,348 | -€13,927 | -59.8% |
| Credit institutions | 430/8 | €23,275 | €9,348 | -€13,927 | -59.8% |
| Trade debts | 44 | €15,460 | €23,264 | +€7,804 | +50.5% |
| Suppliers | 440/4 | €15,460 | €23,264 | +€7,804 | +50.5% |
| Taxes, remuneration and social security | 45 | €87,732 | €96,024 | +€8,292 | +9.5% |
| Taxes | 450/3 | €36,299 | €37,291 | +€992 | +2.7% |
| Remuneration and social security | 454/9 | €51,433 | €58,733 | +€7,300 | +14.2% |
| Other amounts payable | 47/48 | €25,861 | €26,361 | +€500 | +1.9% |
| Remuneration, social security and pensions | 62 | €351,776 | €389,455 | +€37,679 | +10.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,379 | €85,640 | +€8,262 | +10.7% |
| Other operating charges | 640/8 | €2,091 | €4,098 | +€2,007 | +96.0% |
| Gross operating margin | 9900 | €416,092 | €489,039 | +€72,947 | +17.5% |
| Operating profit (loss) | 9901 | -€15,154 | €9,846 | +€25,000 | |
| Financial income | 75/76B | €383 | €329 | -€55 | -14.2% |
| Recurring financial income | 75 | €383 | €329 | -€55 | -14.2% |
| Financial charges | 65/66B | €6,129 | €9,537 | +€3,408 | +55.6% |
| Recurring financial charges | 65 | €6,129 | €9,537 | +€3,408 | +55.6% |
| Profit (loss) for the period before taxes | 9903 | -€20,900 | €638 | +€21,538 | |
| Income taxes | 67/77 | €814 | €7,107 | +€6,293 | +772.9% |
| Profit (loss) for the period | 9904 | -€21,714 | -€6,469 | +€15,244 | +70.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,714 | -€6,469 | +€15,244 | +70.2% |
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 9 October 2026 via checked.be.