FLANDERS: what changed
Two fiscal 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.
FLANDERS
Largest movements
- Receivables within one year -€152,146
down €152,146 (-32.4%), from €470,034 to €317,888
of which Trade receivables: -€133,475
- Stocks and contracts +€112,561
up €112,561 (+15.6%), from €723,718 to €836,279
- Cash +€68,926
up €68,926 (+75.2%), from €91,700 to €160,626
mainly Receivables within one year (+€152,146) and Net result for the year (+€91,011)
- Tangible fixed assets -€21,696
down €21,696 (-29.6%), from €73,392 to €51,697
- Reserves +€91,011
up €91,011 (+33.8%), from €269,390 to €360,401
of which Distributable reserves: +€91,011
- Tax, wage and social debts -€76,912
down €76,912 (-63.8%), from €120,517 to €43,606
of which Taxes: -€57,047
- Debts after one year -€15,055
down €15,055 (-38.9%), from €38,737 to €23,682
- Gross operating margin -€289,746
down €289,746 (-53.3%), from €543,757 to €254,011
- Write-downs -€92,540
down €92,540, from €42,865 to -€49,675
- Taxes -€50,359
down €50,359 (-57.7%), from €87,212 to €36,853
- Financial charges -€23,146
down €23,146 (-50.6%), from €45,714 to €22,568
- Staff costs -€20,488
down €20,488 (-13.6%), from €150,708 to €130,220
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 | €1,358,844 | €1,366,490 | +€7,645 | +0.6% |
| Fixed assets | 21/28 | €73,392 | €51,697 | -€21,696 | -29.6% |
| Tangible fixed assets | 22/27 | €73,392 | €51,697 | -€21,696 | -29.6% |
| Furniture and vehicles | 24 | €73,392 | €51,697 | -€21,696 | -29.6% |
| Current assets | 29/58 | €1,285,452 | €1,314,793 | +€29,341 | +2.3% |
| Stocks and contracts in progress | 3 | €723,718 | €836,279 | +€112,561 | +15.6% |
| Stocks | 30/36 | €723,718 | €836,279 | +€112,561 | +15.6% |
| Amounts receivable within one year | 40/41 | €470,034 | €317,888 | -€152,146 | -32.4% |
| Trade receivables | 40 | €441,211 | €307,736 | -€133,475 | -30.3% |
| Other amounts receivable | 41 | €28,823 | €10,152 | -€18,671 | -64.8% |
| Cash at bank and in hand | 54/58 | €91,700 | €160,626 | +€68,926 | +75.2% |
| Total equity and liabilities | 10/49 | €1,358,844 | €1,366,490 | +€7,645 | +0.6% |
| Equity | 10/15 | €1,046,199 | €1,137,210 | +€91,011 | +8.7% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €269,390 | €360,401 | +€91,011 | +33.8% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Legal reserve | 130 | €12,500 | €12,500 | = | 0.0% |
| Distributable reserves | 133 | €256,890 | €347,901 | +€91,011 | +35.4% |
| Profit (loss) carried forward | 14 | €651,809 | €651,809 | = | 0.0% |
| Amounts payable | 17/49 | €312,645 | €229,279 | -€83,366 | -26.7% |
| Amounts payable after more than one year | 17 | €38,737 | €23,682 | -€15,055 | -38.9% |
| Financial debts | 170/4 | €38,737 | €23,682 | -€15,055 | -38.9% |
| Amounts payable within one year | 42/48 | €273,807 | €205,597 | -€68,210 | -24.9% |
| Current portion of amounts payable after more than one year | 42 | €14,494 | €15,055 | +€561 | +3.9% |
| Trade debts | 44 | €138,796 | €141,760 | +€2,964 | +2.1% |
| Suppliers | 440/4 | €138,796 | €141,760 | +€2,964 | +2.1% |
| Taxes, remuneration and social security | 45 | €120,517 | €43,606 | -€76,912 | -63.8% |
| Taxes | 450/3 | €84,109 | €27,062 | -€57,047 | -67.8% |
| Remuneration and social security | 454/9 | €36,409 | €16,544 | -€19,864 | -54.6% |
| Other amounts payable | 47/48 | - | €5,177 | +€5,177 | |
| Accrued charges and deferred income | 492/3 | €100 | €0 | -€100 | -100.0% |
| Remuneration, social security and pensions | 62 | €150,708 | €130,220 | -€20,488 | -13.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,795 | €21,696 | -€99 | -0.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €42,865 | -€49,675 | -€92,540 | |
| Other operating charges | 640/8 | €5,946 | €2,889 | -€3,058 | -51.4% |
| Gross operating margin | 9900 | €543,757 | €254,011 | -€289,746 | -53.3% |
| Operating profit (loss) | 9901 | €322,443 | €148,882 | -€173,560 | -53.8% |
| Financial income | 75/76B | €280 | €1,550 | +€1,270 | +453.9% |
| Recurring financial income | 75 | €280 | €1,550 | +€1,270 | +453.9% |
| Financial charges | 65/66B | €45,714 | €22,568 | -€23,146 | -50.6% |
| Recurring financial charges | 65 | €45,714 | €22,568 | -€23,146 | -50.6% |
| Profit (loss) for the period before taxes | 9903 | €277,009 | €127,864 | -€149,145 | -53.8% |
| Income taxes | 67/77 | €87,212 | €36,853 | -€50,359 | -57.7% |
| Profit (loss) for the period | 9904 | €189,797 | €91,011 | -€98,786 | -52.0% |
| Profit (loss) for the period to be appropriated | 9905 | €189,797 | €91,011 | -€98,786 | -52.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.