FLEANT: 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.
FLEANT
Largest movements
- Tangible fixed assets +€562,324
up €562,324 (+44.2%), from €1.3m to €1.8m
of which Assets under construction and advance payments: +€385,589
- Receivables within one year -€52,330
down €52,330 (-11.5%), from €454,345 to €402,015
of which Trade receivables: -€48,694
- Stocks and contracts -€50,413
down €50,413 (-9.2%), from €550,000 to €499,587
- Other debts +€275,721
up €275,721 (+218%), from €126,289 to €402,009
- Reserves +€163,019
up €163,019 (+46.8%), from €348,398 to €511,417
of which Distributable reserves: +€163,428
- Debts after one year +€36,208
up €36,208 (+5.2%), from €698,253 to €734,461
of which Financial debts: +€36,208
- Tax, wage and social debts +€29,912
up €29,912 (+75.8%), from €39,458 to €69,370
of which Taxes: +€26,852
- Gross operating margin +€130,111
up €130,111 (+29.5%), from €440,327 to €570,438
- Depreciation -€33,761
down €33,761 (-20.7%), from €163,008 to €129,247
- Taxes +€28,440
up €28,440 (+52.7%), from €53,993 to €82,432
- Other operating charges +€27,598
up €27,598 (+220%), from €12,555 to €40,153
- Staff costs +€21,060
up €21,060 (+16.7%), from €126,480 to €147,540
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 | €2,408,723 | €2,905,512 | +€496,790 | +20.6% |
| Fixed assets | 21/28 | €1,272,771 | €1,835,095 | +€562,324 | +44.2% |
| Tangible fixed assets | 22/27 | €1,272,678 | €1,835,002 | +€562,324 | +44.2% |
| Land and buildings | 22 | €1,082,277 | €1,255,578 | +€173,301 | +16.0% |
| Plant, machinery and equipment | 23 | €85,749 | €75,574 | -€10,175 | -11.9% |
| Furniture and vehicles | 24 | €81,380 | €77,989 | -€3,390 | -4.2% |
| Other tangible fixed assets | 26 | - | €17,000 | +€17,000 | |
| Assets under construction and advance payments | 27 | €23,273 | €408,862 | +€385,589 | +1,657% |
| Financial fixed assets | 28 | €93 | €93 | = | 0.0% |
| Current assets | 29/58 | €1,135,951 | €1,070,417 | -€65,534 | -5.8% |
| Stocks and contracts in progress | 3 | €550,000 | €499,587 | -€50,413 | -9.2% |
| Stocks | 30/36 | €550,000 | €499,587 | -€50,413 | -9.2% |
| Amounts receivable within one year | 40/41 | €454,345 | €402,015 | -€52,330 | -11.5% |
| Trade receivables | 40 | €434,774 | €386,080 | -€48,694 | -11.2% |
| Other amounts receivable | 41 | €19,571 | €15,935 | -€3,636 | -18.6% |
| Cash at bank and in hand | 54/58 | €131,606 | €158,801 | +€27,195 | +20.7% |
| Deferred charges and accrued income | 490/1 | - | €10,014 | +€10,014 | |
| Total equity and liabilities | 10/49 | €2,408,723 | €2,905,512 | +€496,790 | +20.6% |
| Equity | 10/15 | €373,398 | €536,417 | +€163,019 | +43.7% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €348,398 | €511,417 | +€163,019 | +46.8% |
| Tax-exempt reserves | 132 | €7,139 | €6,731 | -€408 | -5.7% |
| Distributable reserves | 133 | €341,258 | €504,686 | +€163,428 | +47.9% |
| Provisions and deferred taxes | 16 | €4,764 | €4,493 | -€271 | -5.7% |
| Deferred taxes | 168 | €4,764 | €4,493 | -€271 | -5.7% |
| Amounts payable | 17/49 | €2,030,561 | €2,364,603 | +€334,042 | +16.5% |
| Amounts payable after more than one year | 17 | €698,253 | €734,461 | +€36,208 | +5.2% |
| Financial debts | 170/4 | €692,203 | €728,411 | +€36,208 | +5.2% |
| Other amounts payable | 178/9 | €6,050 | €6,050 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,332,308 | €1,630,142 | +€297,834 | +22.4% |
| Current portion of amounts payable after more than one year | 42 | €133,163 | €151,292 | +€18,129 | +13.6% |
| Financial debts | 43 | €300,000 | €300,000 | = | 0.0% |
| Credit institutions | 430/8 | €300,000 | €300,000 | = | 0.0% |
| Trade debts | 44 | €733,398 | €707,470 | -€25,928 | -3.5% |
| Suppliers | 440/4 | €733,398 | €707,470 | -€25,928 | -3.5% |
| Taxes, remuneration and social security | 45 | €39,458 | €69,370 | +€29,912 | +75.8% |
| Taxes | 450/3 | €23,668 | €50,521 | +€26,852 | +113% |
| Remuneration and social security | 454/9 | €15,790 | €18,850 | +€3,060 | +19.4% |
| Other amounts payable | 47/48 | €126,289 | €402,009 | +€275,721 | +218% |
| Remuneration, social security and pensions | 62 | €126,480 | €147,540 | +€21,060 | +16.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €163,008 | €129,247 | -€33,761 | -20.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,414 | - | -€1,414 | |
| Other operating charges | 640/8 | €12,555 | €40,153 | +€27,598 | +220% |
| Gross operating margin | 9900 | €440,327 | €570,438 | +€130,111 | +29.5% |
| Operating profit (loss) | 9901 | €136,871 | €253,499 | +€116,628 | +85.2% |
| Financial income | 75/76B | €36,454 | €43,420 | +€6,966 | +19.1% |
| Recurring financial income | 75 | €36,454 | €43,420 | +€6,966 | +19.1% |
| Financial charges | 65/66B | €48,326 | €51,739 | +€3,413 | +7.1% |
| Recurring financial charges | 65 | €48,326 | €51,739 | +€3,413 | +7.1% |
| Profit (loss) for the period before taxes | 9903 | €125,000 | €245,180 | +€120,181 | +96.1% |
| Transfer from deferred taxes | 780 | €271 | €271 | = | 0.0% |
| Income taxes | 67/77 | €53,993 | €82,432 | +€28,440 | +52.7% |
| Profit (loss) for the period | 9904 | €71,278 | €163,019 | +€91,741 | +129% |
| Transfer from tax-exempt reserves | 789 | €408 | €408 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €71,686 | €163,428 | +€91,741 | +128% |
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 17 October 2026 via checked.be.