FLESHWOUND: 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.
FLESHWOUND
Largest movements
- Receivables within one year +€31,538
up €31,538 (+351%), from €8,973 to €40,511
of which Trade receivables: +€26,008
- Tangible fixed assets -€7,152
down €7,152 (-58.8%), from €12,164 to €5,012
of which Plant, machinery and equipment: -€5,966
- Cash -€4,420
no longer reported in 2025 (was €4,420)
mainly Receivables within one year (-€31,538) and Investment in fixed assets (net) (-€3,599)
- Financial fixed assets +€3,750
new in 2025: €3,750
- Deferred charges and accrued income +€1,349
up €1,349 (+270%), from €500 to €1,849
- Trade debts +€16,944
up €16,944 (+304%), from €5,581 to €22,524
- Other debts +€4,500
new in 2025: €4,500
- Profit (loss) carried forward +€1,770
up €1,770 (+95.6%), from -€1,852 to -€82
- Short-term financial debts +€990
up €990 (+29.2%), from €3,389 to €4,379
- Tax, wage and social debts +€861
up €861 (+221%), from €390 to €1,251
of which Taxes: +€905
- Gross operating margin +€9,956
up €9,956 (+807%), from €1,234 to €11,190
- Other operating charges -€4,990
down €4,990 (-82.9%), from €6,022 to €1,031
- Taxes +€972
up €972 (+697%), from €140 to €1,111
- Depreciation +€711
up €711 (+11.3%), from €6,290 to €7,001
- Financial charges -€120
down €120 (-30.2%), from €396 to €277
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 | €26,058 | €51,122 | +€25,065 | +96.2% |
| Fixed assets | 21/28 | €12,164 | €8,762 | -€3,402 | -28.0% |
| Tangible fixed assets | 22/27 | €12,164 | €5,012 | -€7,152 | -58.8% |
| Land and buildings | 22 | €1,867 | €1,336 | -€531 | -28.4% |
| Plant, machinery and equipment | 23 | €9,190 | €3,224 | -€5,966 | -64.9% |
| Furniture and vehicles | 24 | €1,107 | €452 | -€655 | -59.2% |
| Financial fixed assets | 28 | - | €3,750 | +€3,750 | |
| Current assets | 29/58 | €13,894 | €42,360 | +€28,467 | +205% |
| Amounts receivable within one year | 40/41 | €8,973 | €40,511 | +€31,538 | +351% |
| Trade receivables | 40 | €925 | €26,932 | +€26,008 | +2,813% |
| Other amounts receivable | 41 | €8,049 | €13,579 | +€5,530 | +68.7% |
| Cash at bank and in hand | 54/58 | €4,420 | - | -€4,420 | |
| Deferred charges and accrued income | 490/1 | €500 | €1,849 | +€1,349 | +270% |
| Total equity and liabilities | 10/49 | €26,058 | €51,122 | +€25,065 | +96.2% |
| Equity | 10/15 | €16,699 | €18,468 | +€1,770 | +10.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Contributions outside capital | 11 | €18,550 | - | -€18,550 | |
| Share premium | 1100/10 | €18,550 | - | -€18,550 | |
| Profit (loss) carried forward | 14 | -€1,852 | -€82 | +€1,770 | +95.6% |
| Amounts payable | 17/49 | €9,359 | €32,654 | +€23,295 | +249% |
| Amounts payable within one year | 42/48 | €9,359 | €32,654 | +€23,295 | +249% |
| Financial debts | 43 | €3,389 | €4,379 | +€990 | +29.2% |
| Credit institutions | 430/8 | €3,389 | €4,379 | +€990 | +29.2% |
| Trade debts | 44 | €5,581 | €22,524 | +€16,944 | +304% |
| Suppliers | 440/4 | €5,581 | €22,524 | +€16,944 | +304% |
| Taxes, remuneration and social security | 45 | €390 | €1,251 | +€861 | +221% |
| Taxes | 450/3 | €346 | €1,251 | +€905 | +262% |
| Remuneration and social security | 454/9 | €44 | - | -€44 | |
| Other amounts payable | 47/48 | - | €4,500 | +€4,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,290 | €7,001 | +€711 | +11.3% |
| Other operating charges | 640/8 | €6,022 | €1,031 | -€4,990 | -82.9% |
| Gross operating margin | 9900 | €1,234 | €11,190 | +€9,956 | +807% |
| Operating profit (loss) | 9901 | -€11,078 | €3,157 | +€14,235 | |
| Financial income | 75/76B | €28 | €0 | -€28 | -99.8% |
| Recurring financial income | 75 | €28 | €0 | -€28 | -99.8% |
| Financial charges | 65/66B | €396 | €277 | -€120 | -30.2% |
| Recurring financial charges | 65 | €396 | €277 | -€120 | -30.2% |
| Profit (loss) for the period before taxes | 9903 | -€11,446 | €2,881 | +€14,327 | |
| Income taxes | 67/77 | €140 | €1,111 | +€972 | +697% |
| Profit (loss) for the period | 9904 | -€11,585 | €1,770 | +€13,355 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,585 | €1,770 | +€13,355 |
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 27 October 2026 via checked.be.