Flanders Capital: 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
Flanders Capital
NACE 64.210, Activities of holding companies
financial year 31-12-2025 compared with 31-12-2024filed annual accounts (NBB)
Net result for the year
€2.2m
31-12-2024 · €2.3m-€53,822
Equity
€16.1m
31-12-2024 · €13.9m+€2.2m
Cash
€33,462
31-12-2024 · €39,953-€6,491
Balance sheet total
€23.8m
31-12-2024 · €23.8m+€2,348
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Reserves +€7.7m
new in 2025: €7.7m
- Profit (loss) carried forward -€5.5m
down €5.5m (-100%), from €5.5m to €0
- Debts after one year -€2.2m
down €2.2m (-28.6%), from €7.7m to €5.5m
Income statement
- Financial income -€125,000
down €125,000 (-5.4%), from €2.3m to €2.2m
- Turnover +€106,000
up €106,000 (+20.0%), from €530,000 to €636,000
- Services and other goods +€49,736
up €49,736 (+19.0%), from €261,565 to €311,301
- Financial charges -€16,567
down €16,567 (-5.5%), from €303,492 to €286,925
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024
€2.3m
Turnover
+€106,000
Services and other goods
-€49,736
Depreciation
-€879
Other operating charges
-€775
Financial income
-€125,000
Financial charges
+€16,567
Result 31-12-2025
€2.2m
raises the resultlowers the result
Derived cash bridge
Derived from the 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€2.2m
Investment
-€7,006
Financing
-€2.2m
Cash 31-12-2024
€39,953
From operations (derived)
+€2.2m
Net result for the year
+€2.2m
Depreciation
+€1,266
Smaller working-capital items
-€4,238
Investment (derived)
-€7,006
Investment in fixed assets (net)
-€7,006
Financing
-€2.2m
Debts after one year
-€2.2m
Current portion of long-term debt
+€3,077
Cash 31-12-2025
€33,462
brings cash intakes cash out
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €23,841,662 | €23,844,010 | +€2,348 | 0.0% |
| Fixed assets | 21/28 | €23,801,314 | €23,807,054 | +€5,740 | 0.0% |
| Intangible fixed assets | 21 | €1,314 | €7,054 | +€5,740 | +437% |
| Financial fixed assets | 28 | €23,800,000 | €23,800,000 | = | 0.0% |
| Affiliated companies | 280/1 | €23,800,000 | €23,800,000 | = | 0.0% |
| Participating interests | 280 | €23,800,000 | €23,800,000 | = | 0.0% |
| Current assets | 29/58 | €40,348 | €36,956 | -€3,392 | -8.4% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €395 | €3,494 | +€3,099 | +785% |
| Trade receivables | 40 | €395 | €3,494 | +€3,099 | +785% |
| Cash at bank and in hand | 54/58 | €39,953 | €33,462 | -€6,491 | -16.2% |
| Total equity and liabilities | 10/49 | €23,841,662 | €23,844,010 | +€2,348 | 0.0% |
| Equity | 10/15 | €13,856,105 | €16,066,514 | +€2.2m | +16.0% |
| Contributions | 10/11 | €8,330,000 | €8,330,000 | = | 0.0% |
| Reserves | 13 | - | €7,736,514 | +€7.7m | |
| Distributable reserves | 133 | - | €7,736,514 | +€7.7m | |
| Profit (loss) carried forward | 14 | €5,526,105 | €0 | -€5.5m | -100% |
| Amounts payable | 17/49 | €9,985,558 | €7,777,496 | -€2.2m | -22.1% |
| Amounts payable after more than one year | 17 | €7,735,000 | €5,525,000 | -€2.2m | -28.6% |
| Financial debts | 170/4 | €7,735,000 | €5,525,000 | -€2.2m | -28.6% |
| Credit institutions | 173 | €7,735,000 | €5,525,000 | -€2.2m | -28.6% |
| Amounts payable within one year | 42/48 | €2,250,558 | €2,252,496 | +€1,938 | +0.1% |
| Current portion of amounts payable after more than one year | 42 | €2,210,000 | €2,213,077 | +€3,077 | +0.1% |
| Trade debts | 44 | €15,980 | €16,491 | +€510 | +3.2% |
| Suppliers | 440/4 | €15,980 | €16,491 | +€510 | +3.2% |
| Taxes, remuneration and social security | 45 | €24,577 | €22,928 | -€1,649 | -6.7% |
| Taxes | 450/3 | €24,577 | €22,928 | -€1,649 | -6.7% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Operating income | 70/76A | €530,000 | €636,000 | +€106,000 | +20.0% |
| Turnover | 70 | €530,000 | €636,000 | +€106,000 | +20.0% |
| Operating charges | 60/66A | €262,276 | €313,665 | +€51,389 | +19.6% |
| Services and other goods | 61 | €261,565 | €311,301 | +€49,736 | +19.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €387 | €1,266 | +€879 | +227% |
| Other operating charges | 640/8 | €324 | €1,098 | +€775 | +239% |
| Operating profit (loss) | 9901 | €267,724 | €322,335 | +€54,611 | +20.4% |
| Financial income | 75/76B | €2,300,000 | €2,175,000 | -€125,000 | -5.4% |
| Recurring financial income | 75 | €2,300,000 | €2,175,000 | -€125,000 | -5.4% |
| Income from financial fixed assets | 750 | €2,300,000 | €2,175,000 | -€125,000 | -5.4% |
| Financial charges | 65/66B | €303,492 | €286,925 | -€16,567 | -5.5% |
| Recurring financial charges | 65 | €303,492 | €286,925 | -€16,567 | -5.5% |
| Debt charges | 650 | €302,704 | €285,995 | -€16,708 | -5.5% |
| Other financial charges | 652/9 | €789 | €930 | +€141 | +17.9% |
| Profit (loss) for the period before taxes | 9903 | €2,264,232 | €2,210,410 | -€53,822 | -2.4% |
| Profit (loss) for the period | 9904 | €2,264,232 | €2,210,410 | -€53,822 | -2.4% |
| Profit (loss) for the period to be appropriated | 9905 | €2,264,232 | €2,210,410 | -€53,822 | -2.4% |
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.