FLAICO: 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.
What changed
FLAICO
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€67,369
2024 · -€237,796+€305,165
Equity
-€190,716
2024 · -€258,085+€67,369
Cash
€15,166
2024 · €34,808-€19,643
Balance sheet total
€6.0m
2024 · €946,683+€5.1m
Largest movements
Assets
- Current investments +€5.9m
new in 2025: €5.9m
- Receivables after one year -€850,135
down €850,135 (-100%), from €850,135 to €0
Equity and liabilities
- Debts after one year +€5.0m
up €5.0m (+415%), from €1.2m to €6.2m
- Profit (loss) carried forward +€67,369
up €67,369 (+18.2%), from -€370,490 to -€303,121
Income statement
- Gross operating margin +€242,908
up €242,908 (+96.5%), from -€251,604 to -€8,696
- Financial income +€60,221
up €60,221 (+254%), from €23,694 to €83,915
- Financial charges -€30,759
down €30,759 (-98.3%), from €31,299 to €540
- Other operating charges +€5,836
up €5,836 (+396%), from €1,474 to €7,310
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.
Result 2024
-€237,796
Gross operating margin
+€242,908
Other operating charges
-€5,836
Financial income
+€60,221
Financial charges
+€30,759
Deferred taxes and other
-€22,887
Result 2025
€67,369
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€918,294
Investment
-€5.9m
Financing
+€5.0m
Cash 2024
€34,808
From operations (derived)
+€918,294
Net result for the year
+€67,369
Receivables after one year
+€850,135
Smaller working-capital items
+€791
Investment (derived)
-€5.9m
Investment in fixed assets (net)
+€2,197
Current investments
-€5.9m
Financing
+€5.0m
Debts after one year
+€5.0m
Cash 2025
€15,166
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €946,683 | €6,014,916 | +€5.1m | +535% |
| Fixed assets | 21/28 | €2,197 | €0 | -€2,197 | -100% |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Financial fixed assets | 28 | €2,197 | €0 | -€2,197 | -100% |
| Current assets | 29/58 | €944,485 | €6,014,916 | +€5.1m | +537% |
| Amounts receivable after more than one year | 29 | €850,135 | €0 | -€850,135 | -100% |
| Other amounts receivable | 291 | €850,135 | €0 | -€850,135 | -100% |
| Amounts receivable within one year | 40/41 | €59,542 | €59,750 | +€208 | +0.3% |
| Trade receivables | 40 | €17,393 | €0 | -€17,393 | -100% |
| Other amounts receivable | 41 | €42,149 | €59,750 | +€17,601 | +41.8% |
| Current investments | 50/53 | - | €5,940,000 | +€5.9m | |
| Cash at bank and in hand | 54/58 | €34,808 | €15,166 | -€19,643 | -56.4% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €946,683 | €6,014,916 | +€5.1m | +535% |
| Equity | 10/15 | -€258,085 | -€190,716 | +€67,369 | +26.1% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €93,855 | €93,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €93,855 | €93,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€370,490 | -€303,121 | +€67,369 | +18.2% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €1,204,768 | €6,205,631 | +€5.0m | +415% |
| Amounts payable after more than one year | 17 | €1,204,625 | €6,204,490 | +€5.0m | +415% |
| Financial debts | 170/4 | €1,204,625 | €6,204,490 | +€5.0m | +415% |
| Amounts payable within one year | 42/48 | €143 | €1,141 | +€998 | +700% |
| Trade debts | 44 | €143 | €0 | -€143 | -100% |
| Suppliers | 440/4 | €143 | €0 | -€143 | -100% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | €1,141 | +€1,141 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €528,631 | €0 | -€528,631 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €1,474 | €7,310 | +€5,836 | +396% |
| Gross operating margin | 9900 | -€251,604 | -€8,696 | +€242,908 | +96.5% |
| Operating profit (loss) | 9901 | -€253,078 | -€16,006 | +€237,072 | +93.7% |
| Financial income | 75/76B | €23,694 | €83,915 | +€60,221 | +254% |
| Recurring financial income | 75 | €23,694 | €83,915 | +€60,221 | +254% |
| Financial charges | 65/66B | €31,299 | €540 | -€30,759 | -98.3% |
| Recurring financial charges | 65 | €31,299 | €540 | -€30,759 | -98.3% |
| Profit (loss) for the period before taxes | 9903 | -€260,683 | €67,369 | +€328,052 | |
| Transfer from deferred taxes | 780 | €22,887 | €0 | -€22,887 | -100% |
| Profit (loss) for the period | 9904 | -€237,796 | €67,369 | +€305,165 | |
| Transfer from tax-exempt reserves | 789 | €68,662 | €0 | -€68,662 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | -€169,133 | €67,369 | +€236,502 |
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 14 October 2026 via checked.be.