FLAMACO: 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.
FLAMACO
Largest movements
- Stocks and contracts -€74,819
down €74,819 (-35.2%), from €212,759 to €137,940
- Receivables within one year -€56,936
down €56,936 (-6.3%), from €902,508 to €845,572
of which Other amounts receivable: -€203,755
- Cash +€55,847
up €55,847 (+248.7%), from €22,459 to €78,306
mainly Stocks and contracts (+€74,819) and Receivables within one year (+€56,936)
- Other debts -€159,500
down €159,500 (-16.0%), from €994,500 to €835,000
- Trade debts +€52,387
up €52,387 (+60.2%), from €87,007 to €139,394
- Profit (loss) carried forward +€31,281
up €31,281 (+25.2%), from -€124,364 to -€93,083
- Gross operating margin -€19,351
down €19,351 (-12.5%), from €154,507 to €135,156
- Staff costs -€9,677
down €9,677 (-10.1%), from €95,678 to €86,001
- Depreciation -€8,692
down €8,692 (-48.9%), from €17,787 to €9,095
- Financial income +€2,512
up €2,512 (+38.9%), from €6,460 to €8,972
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 | €1,185,451 | €1,114,629 | -€70,822 | -6.0% |
| Fixed assets | 21/28 | €41,214 | €46,928 | +€5,714 | +13.9% |
| Tangible fixed assets | 22/27 | €21,519 | €27,233 | +€5,714 | +26.6% |
| Plant, machinery and equipment | 23 | €1,706 | - | -€1,706 | |
| Furniture and vehicles | 24 | €16,588 | €27,233 | +€10,645 | +64.2% |
| Other tangible fixed assets | 26 | €3,225 | - | -€3,225 | |
| Financial fixed assets | 28 | €19,695 | €19,695 | = | 0.0% |
| Current assets | 29/58 | €1,144,237 | €1,067,701 | -€76,536 | -6.7% |
| Stocks and contracts in progress | 3 | €212,759 | €137,940 | -€74,819 | -35.2% |
| Stocks | 30/36 | €212,759 | €137,940 | -€74,819 | -35.2% |
| Amounts receivable within one year | 40/41 | €902,508 | €845,572 | -€56,936 | -6.3% |
| Trade receivables | 40 | €235,003 | €381,822 | +€146,819 | +62.5% |
| Other amounts receivable | 41 | €667,505 | €463,750 | -€203,755 | -30.5% |
| Cash at bank and in hand | 54/58 | €22,459 | €78,306 | +€55,847 | +248.7% |
| Deferred charges and accrued income | 490/1 | €6,511 | €5,883 | -€628 | -9.6% |
| Total equity and liabilities | 10/49 | €1,185,451 | €1,114,629 | -€70,822 | -6.0% |
| Equity | 10/15 | €82,061 | €113,342 | +€31,281 | +38.1% |
| Contributions | 10/11 | €206,400 | €206,400 | = | 0.0% |
| Reserves | 13 | €25 | €25 | = | 0.0% |
| Distributable reserves | 133 | €25 | €25 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€124,364 | -€93,083 | +€31,281 | +25.2% |
| Amounts payable | 17/49 | €1,103,390 | €1,001,287 | -€102,103 | -9.3% |
| Amounts payable within one year | 42/48 | €1,103,390 | €1,001,287 | -€102,103 | -9.3% |
| Trade debts | 44 | €87,007 | €139,394 | +€52,387 | +60.2% |
| Suppliers | 440/4 | €87,007 | €139,394 | +€52,387 | +60.2% |
| Taxes, remuneration and social security | 45 | €21,883 | €26,893 | +€5,010 | +22.9% |
| Taxes | 450/3 | €3,897 | €12,367 | +€8,470 | +217.3% |
| Remuneration and social security | 454/9 | €17,986 | €14,526 | -€3,460 | -19.2% |
| Other amounts payable | 47/48 | €994,500 | €835,000 | -€159,500 | -16.0% |
| Remuneration, social security and pensions | 62 | €95,678 | €86,001 | -€9,677 | -10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,787 | €9,095 | -€8,692 | -48.9% |
| Other operating charges | 640/8 | €18,002 | €17,224 | -€778 | -4.3% |
| Gross operating margin | 9900 | €154,507 | €135,156 | -€19,351 | -12.5% |
| Operating profit (loss) | 9901 | €23,040 | €22,836 | -€204 | -0.9% |
| Financial income | 75/76B | €6,460 | €8,972 | +€2,512 | +38.9% |
| Recurring financial income | 75 | €6,460 | €8,972 | +€2,512 | +38.9% |
| Financial charges | 65/66B | €1,638 | €301 | -€1,337 | -81.6% |
| Recurring financial charges | 65 | €1,638 | €301 | -€1,337 | -81.6% |
| Profit (loss) for the period before taxes | 9903 | €27,862 | €31,507 | +€3,645 | +13.1% |
| Income taxes | 67/77 | €224 | €226 | +€2 | +0.9% |
| Profit (loss) for the period | 9904 | €27,638 | €31,281 | +€3,643 | +13.2% |
| Profit (loss) for the period to be appropriated | 9905 | €27,638 | €31,281 | +€3,643 | +13.2% |
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 10 October 2026 via checked.be.