FLATEX: 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.
FLATEX
Largest movements
- Stocks and contracts +€350,254
new in 2025: €350,254
- Receivables within one year -€12,633
down €12,633 (-13.8%), from €91,781 to €79,148
of which Trade receivables: -€20,221
- Cash +€8,357
up €8,357 (+69.2%), from €12,069 to €20,426
mainly Debts after one year (+€311,894) and Tax, wage and social debts (+€33,529)
- Tangible fixed assets -€7,835
down €7,835 (-43.6%), from €17,987 to €10,152
- Debts after one year +€311,894
new in 2025: €311,894
- Tax, wage and social debts +€33,529
new in 2025: €33,529
of which Remuneration and social security: +€21,140
- Trade debts -€29,564
down €29,564 (-44.0%), from €67,192 to €37,629
- Other debts +€25,678
new in 2025: €25,678
- Profit (loss) carried forward -€13,348
down €13,348 (-28.6%), from €46,685 to €33,337
- Gross operating margin +€204,096
up €204,096 (+691%), from €29,517 to €233,613
- Staff costs +€107,295
up €107,295 (+1,274%), from €8,419 to €115,714
- Write-downs +€100,829
new in 2025: €100,829
- Depreciation -€12,065
down €12,065 (-45.7%), from €26,373 to €14,308
- Other operating charges +€7,924
up €7,924 (+263%), from €3,010 to €10,934
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 | €126,438 | €462,737 | +€336,300 | +266% |
| Fixed assets | 21/28 | €17,987 | €10,152 | -€7,835 | -43.6% |
| Tangible fixed assets | 22/27 | €17,987 | €10,152 | -€7,835 | -43.6% |
| Furniture and vehicles | 24 | €17,987 | €10,152 | -€7,835 | -43.6% |
| Current assets | 29/58 | €108,450 | €452,585 | +€344,134 | +317% |
| Stocks and contracts in progress | 3 | - | €350,254 | +€350,254 | |
| Stocks | 30/36 | - | €350,254 | +€350,254 | |
| Amounts receivable within one year | 40/41 | €91,781 | €79,148 | -€12,633 | -13.8% |
| Trade receivables | 40 | €82,607 | €62,387 | -€20,221 | -24.5% |
| Other amounts receivable | 41 | €9,174 | €16,762 | +€7,588 | +82.7% |
| Cash at bank and in hand | 54/58 | €12,069 | €20,426 | +€8,357 | +69.2% |
| Deferred charges and accrued income | 490/1 | €4,600 | €2,756 | -€1,844 | -40.1% |
| Total equity and liabilities | 10/49 | €126,438 | €462,737 | +€336,300 | +266% |
| Equity | 10/15 | €54,745 | €41,397 | -€13,348 | -24.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,685 | €33,337 | -€13,348 | -28.6% |
| Amounts payable | 17/49 | €71,692 | €421,340 | +€349,647 | +488% |
| Amounts payable after more than one year | 17 | - | €311,894 | +€311,894 | |
| Financial debts | 170/4 | - | €311,894 | +€311,894 | |
| Amounts payable within one year | 42/48 | €71,692 | €109,445 | +€37,753 | +52.7% |
| Current portion of amounts payable after more than one year | 42 | €4,500 | €12,610 | +€8,110 | +180% |
| Trade debts | 44 | €67,192 | €37,629 | -€29,564 | -44.0% |
| Suppliers | 440/4 | €67,192 | €37,629 | -€29,564 | -44.0% |
| Taxes, remuneration and social security | 45 | - | €33,529 | +€33,529 | |
| Taxes | 450/3 | - | €12,389 | +€12,389 | |
| Remuneration and social security | 454/9 | - | €21,140 | +€21,140 | |
| Other amounts payable | 47/48 | - | €25,678 | +€25,678 | |
| Remuneration, social security and pensions | 62 | €8,419 | €115,714 | +€107,295 | +1,274% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,373 | €14,308 | -€12,065 | -45.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €100,829 | +€100,829 | |
| Other operating charges | 640/8 | €3,010 | €10,934 | +€7,924 | +263% |
| Gross operating margin | 9900 | €29,517 | €233,613 | +€204,096 | +691% |
| Operating profit (loss) | 9901 | -€8,285 | -€8,172 | +€113 | +1.4% |
| Financial income | 75/76B | €15 | - | -€15 | |
| Recurring financial income | 75 | €15 | - | -€15 | |
| Financial charges | 65/66B | €1,544 | €5,176 | +€3,632 | +235% |
| Recurring financial charges | 65 | €1,544 | €5,176 | +€3,632 | +235% |
| Profit (loss) for the period before taxes | 9903 | -€9,814 | -€13,348 | -€3,534 | -36.0% |
| Profit (loss) for the period | 9904 | -€9,814 | -€13,348 | -€3,534 | -36.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,814 | -€13,348 | -€3,534 | -36.0% |
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 26 October 2026 via checked.be.