Flamme Rouge: 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.
Flamme Rouge
Largest movements
- Receivables within one year +€132,691
up €132,691 (+129%), from €102,816 to €235,507
of which Trade receivables: +€139,482
- Deferred charges and accrued income +€89,185
up €89,185 (+149%), from €59,802 to €148,987
- Cash -€75,194
down €75,194 (-19.5%), from €385,489 to €310,295
mainly Receivables within one year (-€132,691) and Trade debts (-€129,062)
- Tangible fixed assets -€17,102
down €17,102 (-10.7%), from €159,704 to €142,602
of which Furniture and vehicles: -€17,102
- Advances received +€330,250
new in 2025: €330,250
- Trade debts -€129,062
down €129,062 (-51.1%), from €252,403 to €123,342
- Tax, wage and social debts -€39,947
down €39,947 (-67.7%), from €58,991 to €19,045
of which Taxes: -€37,153
- Reserves -€35,855
down €35,855 (-19.3%), from €186,141 to €150,285
of which Distributable reserves: -€35,855
- Other debts -€30,000
down €30,000 (-100%), from €30,000 to €0
- Gross operating margin -€88,707
down €88,707 (-51.9%), from €170,797 to €82,090
- Depreciation +€18,407
up €18,407 (+35.6%), from €51,663 to €70,070
- Taxes -€14,346
down €14,346 (-76.2%), from €18,837 to €4,492
- Staff costs -€10,659
down €10,659 (-36.3%), from €29,403 to €18,744
- Financial income -€8,279
down €8,279 (-67.9%), from €12,201 to €3,922
of which Non-recurring financial income: -€12,094
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 | €710,071 | €839,650 | +€129,579 | +18.2% |
| Fixed assets | 21/28 | €161,963 | €144,861 | -€17,102 | -10.6% |
| Tangible fixed assets | 22/27 | €159,704 | €142,602 | -€17,102 | -10.7% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €159,704 | €142,602 | -€17,102 | -10.7% |
| Financial fixed assets | 28 | €2,259 | €2,259 | = | 0.0% |
| Current assets | 29/58 | €548,107 | €694,789 | +€146,681 | +26.8% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €102,816 | €235,507 | +€132,691 | +129% |
| Trade receivables | 40 | €39,824 | €179,307 | +€139,482 | +350% |
| Other amounts receivable | 41 | €62,992 | €56,200 | -€6,792 | -10.8% |
| Cash at bank and in hand | 54/58 | €385,489 | €310,295 | -€75,194 | -19.5% |
| Deferred charges and accrued income | 490/1 | €59,802 | €148,987 | +€89,185 | +149% |
| Total equity and liabilities | 10/49 | €710,071 | €839,650 | +€129,579 | +18.2% |
| Equity | 10/15 | €211,141 | €175,285 | -€35,855 | -17.0% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €186,141 | €150,285 | -€35,855 | -19.3% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €183,641 | €147,785 | -€35,855 | -19.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €498,930 | €664,364 | +€165,434 | +33.2% |
| Amounts payable after more than one year | 17 | €89,820 | €94,005 | +€4,185 | +4.7% |
| Financial debts | 170/4 | €89,820 | €94,005 | +€4,185 | +4.7% |
| Amounts payable within one year | 42/48 | €409,110 | €567,278 | +€158,168 | +38.7% |
| Current portion of amounts payable after more than one year | 42 | €67,715 | €94,641 | +€26,927 | +39.8% |
| Trade debts | 44 | €252,403 | €123,342 | -€129,062 | -51.1% |
| Suppliers | 440/4 | €252,403 | €123,342 | -€129,062 | -51.1% |
| Advances received on contracts in progress | 46 | - | €330,250 | +€330,250 | |
| Taxes, remuneration and social security | 45 | €58,991 | €19,045 | -€39,947 | -67.7% |
| Taxes | 450/3 | €55,991 | €18,837 | -€37,153 | -66.4% |
| Remuneration and social security | 454/9 | €3,001 | €207 | -€2,794 | -93.1% |
| Other amounts payable | 47/48 | €30,000 | €0 | -€30,000 | -100% |
| Accrued charges and deferred income | 492/3 | - | €3,081 | +€3,081 | |
| Non-recurring operating income | 76A | €5,917 | €0 | -€5,917 | -100% |
| Remuneration, social security and pensions | 62 | €29,403 | €18,744 | -€10,659 | -36.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,663 | €70,070 | +€18,407 | +35.6% |
| Other operating charges | 640/8 | €17,598 | €18,489 | +€891 | +5.1% |
| Gross operating margin | 9900 | €170,797 | €82,090 | -€88,707 | -51.9% |
| Operating profit (loss) | 9901 | €72,133 | -€25,214 | -€97,347 | |
| Financial income | 75/76B | €12,201 | €3,922 | -€8,279 | -67.9% |
| Recurring financial income | 75 | €107 | €3,922 | +€3,815 | +3,581% |
| Non-recurring financial income | 76B | €12,094 | €0 | -€12,094 | -100% |
| Financial charges | 65/66B | €8,656 | €10,071 | +€1,415 | +16.3% |
| Recurring financial charges | 65 | €8,656 | €10,071 | +€1,415 | +16.3% |
| Profit (loss) for the period before taxes | 9903 | €75,677 | -€31,363 | -€107,041 | |
| Income taxes | 67/77 | €18,837 | €4,492 | -€14,346 | -76.2% |
| Profit (loss) for the period | 9904 | €56,840 | -€35,855 | -€92,695 | |
| Profit (loss) for the period to be appropriated | 9905 | €56,840 | -€35,855 | -€92,695 |
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 25 October 2026 via checked.be.