FLEG: 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.
FLEG
Largest movements
- Tangible fixed assets -€29,790
down €29,790 (-12.4%), from €239,588 to €209,798
- Cash -€27,618
down €27,618 (-40.1%), from €68,790 to €41,172
mainly Net result for the year (-€24,874) and Current investments (-€20,000)
- Current investments +€20,000
new in 2025: €20,000
- Profit (loss) carried forward -€24,874
down €24,874 (-166.0%), from -€14,980 to -€39,854
- Debts after one year -€9,305
down €9,305 (-6.6%), from €140,168 to €130,863
of which Financial debts: -€9,305
- Gross operating margin -€20,037
down €20,037 (-59.4%), from €33,747 to €13,709
- Other operating charges +€19,874
up €19,874 (+454.2%), from €4,376 to €24,250
- Taxes -€2,889
no longer reported in 2025 (was €2,889)
- Financial charges -€514
down €514 (-10.2%), from €5,057 to €4,543
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 | €308,378 | €270,970 | -€37,408 | -12.1% |
| Fixed assets | 21/28 | €239,588 | €209,798 | -€29,790 | -12.4% |
| Tangible fixed assets | 22/27 | €239,588 | €209,798 | -€29,790 | -12.4% |
| Land and buildings | 22 | €239,588 | €209,798 | -€29,790 | -12.4% |
| Current assets | 29/58 | €68,790 | €61,172 | -€7,618 | -11.1% |
| Current investments | 50/53 | - | €20,000 | +€20,000 | |
| Cash at bank and in hand | 54/58 | €68,790 | €41,172 | -€27,618 | -40.1% |
| Total equity and liabilities | 10/49 | €308,378 | €270,970 | -€37,408 | -12.1% |
| Equity | 10/15 | €141,404 | €116,530 | -€24,874 | -17.6% |
| Contributions | 10/11 | €156,173 | €156,173 | = | 0.0% |
| Capital | 10 | €156,173 | €156,173 | = | 0.0% |
| Issued capital | 100 | €156,173 | €156,173 | = | 0.0% |
| Reserves | 13 | €211 | €211 | = | 0.0% |
| Non-distributable reserves | 130/1 | €211 | €211 | = | 0.0% |
| Legal reserve | 130 | €211 | €211 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,980 | -€39,854 | -€24,874 | -166.0% |
| Amounts payable | 17/49 | €166,974 | €154,440 | -€12,534 | -7.5% |
| Amounts payable after more than one year | 17 | €140,168 | €130,863 | -€9,305 | -6.6% |
| Financial debts | 170/4 | €139,063 | €129,758 | -€9,305 | -6.7% |
| Other amounts payable | 178/9 | €1,104 | €1,104 | = | 0.0% |
| Amounts payable within one year | 42/48 | €26,807 | €23,578 | -€3,229 | -12.0% |
| Current portion of amounts payable after more than one year | 42 | €9,030 | €9,305 | +€276 | +3.1% |
| Trade debts | 44 | €754 | - | -€754 | |
| Suppliers | 440/4 | €754 | - | -€754 | |
| Taxes, remuneration and social security | 45 | €2,889 | €2,889 | = | 0.0% |
| Taxes | 450/3 | €2,889 | €2,889 | = | 0.0% |
| Other amounts payable | 47/48 | €14,134 | €11,384 | -€2,750 | -19.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,716 | €9,790 | +€74 | +0.8% |
| Other operating charges | 640/8 | €4,376 | €24,250 | +€19,874 | +454.2% |
| Gross operating margin | 9900 | €33,747 | €13,709 | -€20,037 | -59.4% |
| Operating profit (loss) | 9901 | €19,654 | -€20,331 | -€39,986 | |
| Financial charges | 65/66B | €5,057 | €4,543 | -€514 | -10.2% |
| Recurring financial charges | 65 | €5,057 | €4,543 | -€514 | -10.2% |
| Profit (loss) for the period before taxes | 9903 | €14,598 | -€24,874 | -€39,472 | |
| Income taxes | 67/77 | €2,889 | - | -€2,889 | |
| Profit (loss) for the period | 9904 | €11,709 | -€24,874 | -€36,583 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,709 | -€24,874 | -€36,583 |
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 29 September 2026 via checked.be.