FLECO: 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.
FLECO
Largest movements
- Receivables within one year -€10,234
down €10,234 (-13.6%), from €75,075 to €64,841
of which Other amounts receivable: -€11,317
- Cash +€5,872
up €5,872 (+333.8%), from €1,759 to €7,632
- Tangible fixed assets -€1,259
down €1,259 (-50.1%), from €2,513 to €1,254
of which Plant, machinery and equipment: -€1,231
- Profit (loss) carried forward -€45,980
down €45,980 (-91.3%), from €50,379 to €4,400
- Other debts +€15,992
new in 2025: €15,992
- Debts after one year +€12,735
new in 2025: €12,735
- Current portion of long-term debt +€9,749
new in 2025: €9,749
- Tax, wage and social debts +€6,707
up €6,707 (+46.3%), from €14,471 to €21,178
of which Taxes: +€6,939
- Write-downs +€60,476
up €60,476 (+530.5%), from €11,400 to €71,876
- Gross operating margin +€45,971
up €45,971 (+131.8%), from €34,886 to €80,856
- Other operating charges +€13,865
up €13,865 (+3577.4%), from €388 to €14,252
- Staff costs +€6,565
up €6,565 (+77.6%), from €8,461 to €15,027
- Taxes -€2,792
down €2,792 (-85.4%), from €3,268 to €476
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €81,148 | €75,527 | -€5,621 | -6.9% |
| Fixed assets | 21/28 | €4,313 | €3,054 | -€1,259 | -29.2% |
| Tangible fixed assets | 22/27 | €2,513 | €1,254 | -€1,259 | -50.1% |
| Plant, machinery and equipment | 23 | €2,486 | €1,254 | -€1,231 | -49.5% |
| Furniture and vehicles | 24 | €27 | - | -€27 | |
| Financial fixed assets | 28 | €1,800 | €1,800 | = | 0.0% |
| Current assets | 29/58 | €76,835 | €72,473 | -€4,362 | -5.7% |
| Amounts receivable within one year | 40/41 | €75,075 | €64,841 | -€10,234 | -13.6% |
| Trade receivables | 40 | €45,384 | €46,467 | +€1,083 | +2.4% |
| Other amounts receivable | 41 | €29,691 | €18,374 | -€11,317 | -38.1% |
| Cash at bank and in hand | 54/58 | €1,759 | €7,632 | +€5,872 | +333.8% |
| Total equity and liabilities | 10/49 | €81,148 | €75,527 | -€5,621 | -6.9% |
| Equity | 10/15 | €53,379 | €7,400 | -€45,980 | -86.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €50,379 | €4,400 | -€45,980 | -91.3% |
| Amounts payable | 17/49 | €27,769 | €68,127 | +€40,359 | +145.3% |
| Amounts payable after more than one year | 17 | - | €12,735 | +€12,735 | |
| Financial debts | 170/4 | - | €12,735 | +€12,735 | |
| Amounts payable within one year | 42/48 | €27,649 | €55,393 | +€27,744 | +100.3% |
| Current portion of amounts payable after more than one year | 42 | - | €9,749 | +€9,749 | |
| Trade debts | 44 | €13,178 | €8,474 | -€4,703 | -35.7% |
| Suppliers | 440/4 | €13,178 | €8,474 | -€4,703 | -35.7% |
| Taxes, remuneration and social security | 45 | €14,471 | €21,178 | +€6,707 | +46.3% |
| Taxes | 450/3 | €10,841 | €17,780 | +€6,939 | +64.0% |
| Remuneration and social security | 454/9 | €3,630 | €3,397 | -€232 | -6.4% |
| Other amounts payable | 47/48 | - | €15,992 | +€15,992 | |
| Accrued charges and deferred income | 492/3 | €120 | - | -€120 | |
| Remuneration, social security and pensions | 62 | €8,461 | €15,027 | +€6,565 | +77.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,595 | €616 | -€980 | -61.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €11,400 | €71,876 | +€60,476 | +530.5% |
| Other operating charges | 640/8 | €388 | €14,252 | +€13,865 | +3577.4% |
| Gross operating margin | 9900 | €34,886 | €80,856 | +€45,971 | +131.8% |
| Operating profit (loss) | 9901 | €13,041 | -€20,914 | -€33,955 | |
| Financial income | 75/76B | €1,008 | €26 | -€982 | -97.4% |
| Recurring financial income | 75 | €1,008 | €26 | -€982 | -97.4% |
| Financial charges | 65/66B | €951 | €2,173 | +€1,222 | +128.4% |
| Recurring financial charges | 65 | €951 | €2,156 | +€1,205 | +126.6% |
| Non-recurring financial charges | 66B | - | €17 | +€17 | |
| Profit (loss) for the period before taxes | 9903 | €13,098 | -€23,061 | -€36,159 | |
| Income taxes | 67/77 | €3,268 | €476 | -€2,792 | -85.4% |
| Profit (loss) for the period | 9904 | €9,830 | -€23,537 | -€33,367 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,830 | -€23,537 | -€33,367 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.