FLASH Management: 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.
FLASH Management
Largest movements
- Financial fixed assets -€47,913
down €47,913 (-14.3%), from €335,816 to €287,902
- Cash -€40,481
down €40,481 (-43.0%), from €94,231 to €53,750
mainly Contributions, distributions and other (-€220,000) and Debts after one year (-€81,055)
- Receivables within one year -€21,551
down €21,551 (-54.7%), from €39,425 to €17,874
of which Other amounts receivable: -€15,885
- Tangible fixed assets -€19,245
down €19,245 (-2.2%), from €874,471 to €855,226
of which Land and buildings: -€60,757
- Debts after one year -€81,055
down €81,055 (-16.4%), from €495,398 to €414,343
- Current portion of long-term debt -€56,313
down €56,313 (-32.5%), from €173,242 to €116,929
- Profit (loss) carried forward +€37,371
up €37,371 (+119.0%), from €31,406 to €68,777
- Trade debts -€34,224
down €34,224 (-30.6%), from €111,683 to €77,458
- Accrued charges and deferred income +€17,249
new in 2025: €17,249
- Purchases and services +€147,664
up €147,664 (+23.8%), from €620,650 to €768,314
- Turnover +€108,665
up €108,665 (+9.0%), from €1.2m to €1.3m
- Depreciation -€61,059
down €61,059 (-38.2%), from €159,733 to €98,674
- Other operating charges -€24,361
down €24,361 (-49.3%), from €49,386 to €25,025
- Gross operating margin -€23,472
down €23,472 (-2.9%), from €798,849 to €775,377
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 | €1,360,190 | €1,235,674 | -€124,516 | -9.2% |
| Fixed assets | 21/28 | €1,210,286 | €1,148,281 | -€62,006 | -5.1% |
| Intangible fixed assets | 21 | - | €5,152 | +€5,152 | |
| Tangible fixed assets | 22/27 | €874,471 | €855,226 | -€19,245 | -2.2% |
| Land and buildings | 22 | €711,866 | €651,109 | -€60,757 | -8.5% |
| Plant, machinery and equipment | 23 | €140,585 | €175,139 | +€34,554 | +24.6% |
| Furniture and vehicles | 24 | €10,495 | €9,464 | -€1,031 | -9.8% |
| Other tangible fixed assets | 26 | €11,524 | €19,514 | +€7,990 | +69.3% |
| Financial fixed assets | 28 | €335,816 | €287,902 | -€47,913 | -14.3% |
| Current assets | 29/58 | €149,903 | €87,393 | -€62,510 | -41.7% |
| Stocks and contracts in progress | 3 | €10,683 | €10,387 | -€297 | -2.8% |
| Stocks | 30/36 | €10,683 | €10,387 | -€297 | -2.8% |
| Amounts receivable within one year | 40/41 | €39,425 | €17,874 | -€21,551 | -54.7% |
| Trade receivables | 40 | €10,319 | €4,654 | -€5,666 | -54.9% |
| Other amounts receivable | 41 | €29,105 | €13,220 | -€15,885 | -54.6% |
| Cash at bank and in hand | 54/58 | €94,231 | €53,750 | -€40,481 | -43.0% |
| Deferred charges and accrued income | 490/1 | €5,564 | €5,383 | -€182 | -3.3% |
| Total equity and liabilities | 10/49 | €1,360,190 | €1,235,674 | -€124,516 | -9.2% |
| Equity | 10/15 | €248,036 | €285,407 | +€37,371 | +15.1% |
| Contributions | 10/11 | €101,100 | €101,100 | = | 0.0% |
| Capital | 10 | €101,100 | €101,100 | = | 0.0% |
| Issued capital | 100 | €101,100 | €101,100 | = | 0.0% |
| Reserves | 13 | €115,530 | €115,530 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,110 | €10,110 | = | 0.0% |
| Legal reserve | 130 | €10,110 | €10,110 | = | 0.0% |
| Distributable reserves | 133 | €105,420 | €105,420 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,406 | €68,777 | +€37,371 | +119.0% |
| Amounts payable | 17/49 | €1,112,154 | €950,267 | -€161,887 | -14.6% |
| Amounts payable after more than one year | 17 | €495,398 | €414,343 | -€81,055 | -16.4% |
| Financial debts | 170/4 | €495,398 | €414,343 | -€81,055 | -16.4% |
| Amounts payable within one year | 42/48 | €616,756 | €518,674 | -€98,082 | -15.9% |
| Current portion of amounts payable after more than one year | 42 | €173,242 | €116,929 | -€56,313 | -32.5% |
| Trade debts | 44 | €111,683 | €77,458 | -€34,224 | -30.6% |
| Suppliers | 440/4 | €111,683 | €77,458 | -€34,224 | -30.6% |
| Taxes, remuneration and social security | 45 | €111,831 | €104,287 | -€7,544 | -6.7% |
| Taxes | 450/3 | €82,114 | €82,237 | +€123 | +0.1% |
| Remuneration and social security | 454/9 | €29,717 | €22,050 | -€7,667 | -25.8% |
| Other amounts payable | 47/48 | €220,000 | €220,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €17,249 | +€17,249 | |
| Turnover | 70 | €1,209,157 | €1,317,821 | +€108,665 | +9.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €620,650 | €768,314 | +€147,664 | +23.8% |
| Remuneration, social security and pensions | 62 | €291,156 | €303,299 | +€12,144 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €159,733 | €98,674 | -€61,059 | -38.2% |
| Other operating charges | 640/8 | €49,386 | €25,025 | -€24,361 | -49.3% |
| Gross operating margin | 9900 | €798,849 | €775,377 | -€23,472 | -2.9% |
| Operating profit (loss) | 9901 | €298,574 | €348,378 | +€49,803 | +16.7% |
| Financial income | 75/76B | €23,192 | €13,175 | -€10,017 | -43.2% |
| Recurring financial income | 75 | €23,192 | €13,175 | -€10,017 | -43.2% |
| Financial charges | 65/66B | €8,057 | €7,215 | -€842 | -10.5% |
| Recurring financial charges | 65 | €8,057 | €7,215 | -€842 | -10.5% |
| Profit (loss) for the period before taxes | 9903 | €313,709 | €354,338 | +€40,629 | +13.0% |
| Income taxes | 67/77 | €77,710 | €96,967 | +€19,257 | +24.8% |
| Profit (loss) for the period | 9904 | €235,999 | €257,371 | +€21,372 | +9.1% |
| Profit (loss) for the period to be appropriated | 9905 | €235,999 | €257,371 | +€21,372 | +9.1% |
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 5 October 2026 via checked.be.