FLAVUS: 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.
What changed
FLAVUS
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€711,668
2024 · -€717,829+€6,161
Equity
€51.9m
2024 · €50.4m+€1.5m
Cash
€2.1m
2024 · €1.4m+€767,522
Balance sheet total
€117.7m
2024 · €100.4m+€17.3m
Largest movements
Assets
- Tangible fixed assets +€14.4m
up €14.4m (+14.6%), from €98.5m to €112.9m
of which Land and buildings: +€14.4m
- Financial fixed assets +€1.3m
up €1.3m (+314.7%), from €407,500 to €1.7m
Equity and liabilities
- Debts after one year +€17.9m
up €17.9m (+50.4%), from €35.6m to €53.5m
of which Financial debts: +€17.9m
- Revaluation surpluses +€2.2m
up €2.2m (+4.3%), from €51.4m to €53.6m
- Short-term financial debts -€1.8m
down €1.8m (-16.1%), from €11.0m to €9.2m
Income statement
- Gross operating margin +€1.3m
up €1.3m (+53.2%), from €2.5m to €3.8m
- Financial charges +€783,569
up €783,569 (+48.6%), from €1.6m to €2.4m
- Depreciation +€471,402
up €471,402 (+30.9%), from €1.5m to €2.0m
- Other operating charges +€47,882
up €47,882 (+36.3%), from €132,007 to €179,888
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.
Result 2024
-€717,829
Gross operating margin
+€1.3m
Depreciation
-€471,402
Other operating charges
-€47,882
Financial income
-€12,692
Financial charges
-€783,569
Taxes
-€342
Result 2025
-€711,668
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.
From operations
+€412,098
Investment
-€17.7m
Financing
+€18.0m
Cash 2024
€1.4m
From operations (derived)
+€412,098
Net result for the year
-€711,668
Depreciation
+€2.0m
Stocks and contracts
-€647,164
Receivables within one year
-€131,714
Smaller working-capital items
-€29,900
Trade debts
+€104,145
Advances received
-€318,793
Other debts
+€152,281
Investment (derived)
-€17.7m
Investment in fixed assets (net)
-€17.7m
Financing
+€18.0m
Debts after one year
+€17.9m
Current portion of long-term debt
-€350,476
Short-term financial debts
-€1.8m
Contributions, distributions and other
+€2.2m
Cash 2025
€2.1m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €100,431,982 | €117,698,907 | +€17.3m | +17.2% |
| Fixed assets | 21/28 | €98,927,261 | €114,609,774 | +€15.7m | +15.9% |
| Tangible fixed assets | 22/27 | €98,519,761 | €112,919,774 | +€14.4m | +14.6% |
| Land and buildings | 22 | €98,318,257 | €112,754,636 | +€14.4m | +14.7% |
| Plant, machinery and equipment | 23 | €9,414 | €13,384 | +€3,970 | +42.2% |
| Furniture and vehicles | 24 | €192,090 | €151,754 | -€40,336 | -21.0% |
| Financial fixed assets | 28 | €407,500 | €1,690,000 | +€1.3m | +314.7% |
| Current assets | 29/58 | €1,504,721 | €3,089,133 | +€1.6m | +105.3% |
| Stocks and contracts in progress | 3 | €127,500 | €774,664 | +€647,164 | +507.6% |
| Stocks | 30/36 | €127,500 | €774,664 | +€647,164 | +507.6% |
| Amounts receivable within one year | 40/41 | €12,088 | €143,803 | +€131,714 | +1089.6% |
| Trade receivables | 40 | €641 | - | -€641 | |
| Other amounts receivable | 41 | €11,447 | €143,803 | +€132,356 | +1156.2% |
| Cash at bank and in hand | 54/58 | €1,357,673 | €2,125,195 | +€767,522 | +56.5% |
| Deferred charges and accrued income | 490/1 | €7,460 | €45,472 | +€38,012 | +509.6% |
| Total equity and liabilities | 10/49 | €100,431,982 | €117,698,907 | +€17.3m | +17.2% |
| Equity | 10/15 | €50,382,321 | €51,890,975 | +€1.5m | +3.0% |
| Contributions | 10/11 | €84,284 | €84,284 | = | 0.0% |
| Capital | 10 | €84,284 | €84,284 | = | 0.0% |
| Issued capital | 100 | €84,284 | €84,284 | = | 0.0% |
| Revaluation surpluses | 12 | €51,353,229 | €53,573,551 | +€2.2m | +4.3% |
| Reserves | 13 | €12,457 | €12,457 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,428 | €8,428 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,428 | €8,428 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,029 | €4,029 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,067,649 | -€1,779,317 | -€711,668 | -66.7% |
| Amounts payable | 17/49 | €50,049,661 | €65,807,933 | +€15.8m | +31.5% |
| Amounts payable after more than one year | 17 | €35,570,281 | €53,510,633 | +€17.9m | +50.4% |
| Financial debts | 170/4 | €35,395,281 | €53,335,633 | +€17.9m | +50.7% |
| Other amounts payable | 178/9 | €175,000 | €175,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €14,479,380 | €12,284,655 | -€2.2m | -15.2% |
| Current portion of amounts payable after more than one year | 42 | €1,464,807 | €1,114,331 | -€350,476 | -23.9% |
| Financial debts | 43 | €11,009,500 | €9,232,150 | -€1.8m | -16.1% |
| Credit institutions | 430/8 | €11,009,500 | €9,232,150 | -€1.8m | -16.1% |
| Trade debts | 44 | €19,223 | €123,368 | +€104,145 | +541.8% |
| Suppliers | 440/4 | €19,223 | €123,368 | +€104,145 | +541.8% |
| Advances received on contracts in progress | 46 | €1,089,431 | €770,638 | -€318,793 | -29.3% |
| Taxes, remuneration and social security | 45 | €8,185 | €3,653 | -€4,532 | -55.4% |
| Taxes | 450/3 | - | €422 | +€422 | |
| Remuneration and social security | 454/9 | €8,185 | €3,231 | -€4,954 | -60.5% |
| Other amounts payable | 47/48 | €888,234 | €1,040,515 | +€152,281 | +17.1% |
| Accrued charges and deferred income | 492/3 | - | €12,645 | +€12,645 | |
| Non-recurring operating income | 76A | €31,000 | €108,171 | +€77,171 | +248.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,523,509 | €1,994,912 | +€471,402 | +30.9% |
| Other operating charges | 640/8 | €132,007 | €179,888 | +€47,882 | +36.3% |
| Gross operating margin | 9900 | €2,484,018 | €3,806,067 | +€1.3m | +53.2% |
| Operating profit (loss) | 9901 | €828,502 | €1,631,267 | +€802,765 | +96.9% |
| Financial income | 75/76B | €67,069 | €54,376 | -€12,692 | -18.9% |
| Recurring financial income | 75 | €67,069 | €54,376 | -€12,692 | -18.9% |
| Financial charges | 65/66B | €1,612,364 | €2,395,933 | +€783,569 | +48.6% |
| Recurring financial charges | 65 | €1,612,364 | €2,395,933 | +€783,569 | +48.6% |
| Profit (loss) for the period before taxes | 9903 | -€716,793 | -€710,290 | +€6,503 | +0.9% |
| Income taxes | 67/77 | €1,036 | €1,378 | +€342 | +33.0% |
| Profit (loss) for the period | 9904 | -€717,829 | -€711,668 | +€6,161 | +0.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€717,829 | -€711,668 | +€6,161 | +0.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.