FLANDERS BRUSH MAKERS: 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.
FLANDERS BRUSH MAKERS
Largest movements
- Stocks and contracts -€242,113
down €242,113 (-20.3%), from €1.2m to €950,271
- Intangible fixed assets -€75,466
down €75,466 (-86.1%), from €87,660 to €12,195
- Cash -€47,766
down €47,766 (-40.4%), from €118,338 to €70,571
mainly Debts after one year (-€171,821) and Investment in fixed assets (net) (-€155,999)
- Receivables within one year -€46,629
down €46,629 (-8.2%), from €570,065 to €523,436
of which Other amounts receivable: -€39,484
- Debts after one year -€171,821
down €171,821 (-12.5%), from €1.4m to €1.2m
of which Financial debts: -€179,761
- Trade debts -€144,489
down €144,489 (-61.2%), from €236,161 to €91,672
- Current portion of long-term debt -€104,640
down €104,640 (-47.8%), from €219,027 to €114,387
- Reserves +€41,351
up €41,351 (+4.8%), from €870,441 to €911,792
of which Distributable reserves: +€41,351
- Gross operating margin -€102,437
down €102,437 (-10.1%), from €1.0m to €916,228
- Other operating charges +€59,883
up €59,883 (+436%), from €13,735 to €73,618
- Staff costs -€27,574
down €27,574 (-5.4%), from €512,709 to €485,135
- Depreciation -€24,473
down €24,473 (-9.2%), from €267,015 to €242,541
- Taxes -€21,758
down €21,758 (-67.8%), from €32,109 to €10,351
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 | €2,903,258 | €2,481,967 | -€421,291 | -14.5% |
| Fixed assets | 21/28 | €1,017,574 | €931,032 | -€86,542 | -8.5% |
| Intangible fixed assets | 21 | €87,660 | €12,195 | -€75,466 | -86.1% |
| Tangible fixed assets | 22/27 | €929,914 | €918,837 | -€11,076 | -1.2% |
| Plant, machinery and equipment | 23 | €318,404 | €429,112 | +€110,708 | +34.8% |
| Furniture and vehicles | 24 | €4,138 | €2,360 | -€1,778 | -43.0% |
| Leasing and similar rights | 25 | €514,456 | €403,224 | -€111,232 | -21.6% |
| Other tangible fixed assets | 26 | €92,916 | €84,142 | -€8,774 | -9.4% |
| Current assets | 29/58 | €1,885,684 | €1,550,935 | -€334,749 | -17.8% |
| Stocks and contracts in progress | 3 | €1,192,384 | €950,271 | -€242,113 | -20.3% |
| Stocks | 30/36 | €1,192,384 | €950,271 | -€242,113 | -20.3% |
| Amounts receivable within one year | 40/41 | €570,065 | €523,436 | -€46,629 | -8.2% |
| Trade receivables | 40 | €486,119 | €478,973 | -€7,146 | -1.5% |
| Other amounts receivable | 41 | €83,946 | €44,463 | -€39,484 | -47.0% |
| Cash at bank and in hand | 54/58 | €118,338 | €70,571 | -€47,766 | -40.4% |
| Deferred charges and accrued income | 490/1 | €4,897 | €6,657 | +€1,760 | +35.9% |
| Total equity and liabilities | 10/49 | €2,903,258 | €2,481,967 | -€421,291 | -14.5% |
| Equity | 10/15 | €885,065 | €926,416 | +€41,351 | +4.7% |
| Contributions | 10/11 | €14,624 | €14,624 | = | 0.0% |
| Reserves | 13 | €870,441 | €911,792 | +€41,351 | +4.8% |
| Tax-exempt reserves | 132 | €38,842 | €38,842 | = | 0.0% |
| Distributable reserves | 133 | €831,599 | €872,950 | +€41,351 | +5.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,018,192 | €1,555,551 | -€462,642 | -22.9% |
| Amounts payable after more than one year | 17 | €1,373,379 | €1,201,558 | -€171,821 | -12.5% |
| Financial debts | 170/4 | €1,123,379 | €943,618 | -€179,761 | -16.0% |
| Other amounts payable | 178/9 | €250,000 | €257,941 | +€7,941 | +3.2% |
| Amounts payable within one year | 42/48 | €628,254 | €343,319 | -€284,936 | -45.4% |
| Current portion of amounts payable after more than one year | 42 | €219,027 | €114,387 | -€104,640 | -47.8% |
| Financial debts | 43 | €25,764 | €0 | -€25,764 | -100% |
| Credit institutions | 430/8 | €25,764 | €0 | -€25,764 | -100% |
| Trade debts | 44 | €236,161 | €91,672 | -€144,489 | -61.2% |
| Suppliers | 440/4 | €236,161 | €91,672 | -€144,489 | -61.2% |
| Taxes, remuneration and social security | 45 | €63,327 | €55,231 | -€8,097 | -12.8% |
| Taxes | 450/3 | €3,776 | €3,911 | +€134 | +3.6% |
| Remuneration and social security | 454/9 | €59,551 | €51,320 | -€8,231 | -13.8% |
| Other amounts payable | 47/48 | €83,975 | €82,029 | -€1,946 | -2.3% |
| Accrued charges and deferred income | 492/3 | €16,559 | €10,674 | -€5,885 | -35.5% |
| Remuneration, social security and pensions | 62 | €512,709 | €485,135 | -€27,574 | -5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €267,015 | €242,541 | -€24,473 | -9.2% |
| Other operating charges | 640/8 | €13,735 | €73,618 | +€59,883 | +436% |
| Non-recurring operating charges | 66A | €24,935 | €0 | -€24,935 | -100% |
| Gross operating margin | 9900 | €1,018,665 | €916,228 | -€102,437 | -10.1% |
| Operating profit (loss) | 9901 | €200,271 | €114,934 | -€85,338 | -42.6% |
| Financial income | 75/76B | €691 | €1,306 | +€615 | +89.1% |
| Recurring financial income | 75 | €691 | €1,306 | +€615 | +89.1% |
| Financial charges | 65/66B | €81,278 | €64,538 | -€16,739 | -20.6% |
| Recurring financial charges | 65 | €81,278 | €64,538 | -€16,739 | -20.6% |
| Profit (loss) for the period before taxes | 9903 | €119,685 | €51,702 | -€67,983 | -56.8% |
| Income taxes | 67/77 | €32,109 | €10,351 | -€21,758 | -67.8% |
| Profit (loss) for the period | 9904 | €87,575 | €41,351 | -€46,225 | -52.8% |
| Profit (loss) for the period to be appropriated | 9905 | €87,575 | €41,351 | -€46,225 | -52.8% |
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 21 October 2026 via checked.be.