FLANDERS SURPLUS: 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 SURPLUS
Largest movements
- Stocks and contracts +€1.3m
up €1.3m (+33.1%), from €3.8m to €5.1m
- Current investments +€1.2m
new in 2025: €1.2m
- Cash -€956,010
down €956,010 (-37.6%), from €2.5m to €1.6m
mainly Stocks and contracts (-€1.3m) and Current investments (-€1.2m)
- Reserves +€1.1m
up €1.1m (+13.9%), from €8.1m to €9.2m
of which Distributable reserves: +€1.1m
- Trade debts +€305,786
up €305,786 (+297.8%), from €102,673 to €408,460
- Debts after one year -€205,114
down €205,114 (-43.5%), from €471,816 to €266,703
- Taxes +€71,089
up €71,089 (+19.1%), from €372,027 to €443,116
- Gross operating margin +€55,188
up €55,188 (+2.9%), from €1.9m to €2.0m
- Other operating charges -€45,176
down €45,176 (-57.3%), from €78,810 to €33,634
- Staff costs -€29,519
down €29,519 (-19.5%), from €151,321 to €121,802
- Financial income +€23,239
new in 2025: €23,239
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 | €10,334,001 | €11,595,741 | +€1.3m | +12.2% |
| Fixed assets | 21/28 | €3,575,896 | €3,466,926 | -€108,970 | -3.0% |
| Tangible fixed assets | 22/27 | €3,575,896 | €3,466,926 | -€108,970 | -3.0% |
| Land and buildings | 22 | €3,356,672 | €3,302,278 | -€54,394 | -1.6% |
| Plant, machinery and equipment | 23 | €93,090 | €81,536 | -€11,553 | -12.4% |
| Furniture and vehicles | 24 | €126,134 | €83,111 | -€43,023 | -34.1% |
| Current assets | 29/58 | €6,758,105 | €8,128,816 | +€1.4m | +20.3% |
| Stocks and contracts in progress | 3 | €3,823,077 | €5,087,384 | +€1.3m | +33.1% |
| Stocks | 30/36 | €3,823,077 | €5,087,384 | +€1.3m | +33.1% |
| Amounts receivable within one year | 40/41 | €366,674 | €257,588 | -€109,086 | -29.8% |
| Trade receivables | 40 | €313,751 | €86,755 | -€226,996 | -72.3% |
| Other amounts receivable | 41 | €52,923 | €170,833 | +€117,910 | +222.8% |
| Current investments | 50/53 | - | €1,171,669 | +€1.2m | |
| Cash at bank and in hand | 54/58 | €2,540,067 | €1,584,057 | -€956,010 | -37.6% |
| Deferred charges and accrued income | 490/1 | €28,287 | €28,119 | -€169 | -0.6% |
| Total equity and liabilities | 10/49 | €10,334,001 | €11,595,741 | +€1.3m | +12.2% |
| Equity | 10/15 | €8,433,288 | €9,558,493 | +€1.1m | +13.3% |
| Contributions | 10/11 | €312,000 | €312,000 | = | 0.0% |
| Capital | 10 | €312,000 | €312,000 | = | 0.0% |
| Issued capital | 100 | €312,000 | €312,000 | = | 0.0% |
| Reserves | 13 | €8,121,288 | €9,246,493 | +€1.1m | +13.9% |
| Non-distributable reserves | 130/1 | €31,200 | €31,200 | = | 0.0% |
| Legal reserve | 130 | €31,200 | €31,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €43,016 | €43,016 | = | 0.0% |
| Distributable reserves | 133 | €8,047,071 | €9,172,276 | +€1.1m | +14.0% |
| Amounts payable | 17/49 | €1,900,714 | €2,037,249 | +€136,535 | +7.2% |
| Amounts payable after more than one year | 17 | €471,816 | €266,703 | -€205,114 | -43.5% |
| Financial debts | 170/4 | €471,816 | €266,703 | -€205,114 | -43.5% |
| Amounts payable within one year | 42/48 | €1,428,897 | €1,770,546 | +€341,649 | +23.9% |
| Current portion of amounts payable after more than one year | 42 | €227,220 | €205,114 | -€22,106 | -9.7% |
| Trade debts | 44 | €102,673 | €408,460 | +€305,786 | +297.8% |
| Suppliers | 440/4 | €102,673 | €408,460 | +€305,786 | +297.8% |
| Taxes, remuneration and social security | 45 | €65,008 | €86,833 | +€21,825 | +33.6% |
| Taxes | 450/3 | €25,253 | €46,140 | +€20,887 | +82.7% |
| Remuneration and social security | 454/9 | €39,756 | €40,694 | +€938 | +2.4% |
| Other amounts payable | 47/48 | €1,033,996 | €1,070,139 | +€36,143 | +3.5% |
| Remuneration, social security and pensions | 62 | €151,321 | €121,802 | -€29,519 | -19.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €192,895 | €185,125 | -€7,770 | -4.0% |
| Other operating charges | 640/8 | €78,810 | €33,634 | -€45,176 | -57.3% |
| Gross operating margin | 9900 | €1,911,248 | €1,966,435 | +€55,188 | +2.9% |
| Operating profit (loss) | 9901 | €1,488,222 | €1,625,875 | +€137,652 | +9.2% |
| Financial income | 75/76B | - | €23,239 | +€23,239 | |
| Recurring financial income | 75 | - | €23,239 | +€23,239 | |
| Financial charges | 65/66B | €83,387 | €80,793 | -€2,594 | -3.1% |
| Recurring financial charges | 65 | €83,387 | €80,793 | -€2,594 | -3.1% |
| Profit (loss) for the period before taxes | 9903 | €1,404,835 | €1,568,321 | +€163,486 | +11.6% |
| Income taxes | 67/77 | €372,027 | €443,116 | +€71,089 | +19.1% |
| Profit (loss) for the period | 9904 | €1,032,808 | €1,125,205 | +€92,397 | +8.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,032,808 | €1,125,205 | +€92,397 | +8.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.