FLEUR D'OR: 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.
FLEUR D'OR
Largest movements
- Financial fixed assets +€1.2m
up €1.2m (+1,134,469%), from €105 to €1.2m
- Cash -€45,859
down €45,859 (-54.3%), from €84,465 to €38,606
mainly Investment in fixed assets (net) (-€1.2m) and Receivables within one year (-€28,123)
- Receivables within one year +€28,123
up €28,123 (+46.3%), from €60,729 to €88,852
of which Trade receivables: +€23,168
- Stocks and contracts -€23,028
down €23,028 (-91.8%), from €25,092 to €2,064
- Debts after one year +€870,007
up €870,007 (+4,710%), from €18,470 to €888,477
- Other debts +€154,475
up €154,475 (+2,433%), from €6,349 to €160,824
- Profit (loss) carried forward +€115,029
up €115,029 (+75.8%), from €151,799 to €266,828
- Gross operating margin +€77,927
up €77,927 (+97.9%), from €79,578 to €157,505
- Financial income +€29,960
up €29,960 (+55,034%), from €54 to €30,015
- Taxes +€27,835
up €27,835 (+239%), from €11,656 to €39,490
- Financial charges +€7,186
up €7,186 (+468%), from €1,535 to €8,721
- Depreciation -€2,067
down €2,067 (-8.2%), from €25,123 to €23,057
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 | €211,339 | €1,351,463 | +€1.1m | +539% |
| Fixed assets | 21/28 | €40,689 | €1,221,651 | +€1.2m | +2,902% |
| Tangible fixed assets | 22/27 | €40,584 | €30,354 | -€10,230 | -25.2% |
| Land and buildings | 22 | - | €11,962 | +€11,962 | |
| Plant, machinery and equipment | 23 | €8,577 | €7,191 | -€1,385 | -16.2% |
| Furniture and vehicles | 24 | €32,007 | €11,201 | -€20,807 | -65.0% |
| Financial fixed assets | 28 | €105 | €1,191,297 | +€1.2m | +1,134,469% |
| Current assets | 29/58 | €170,650 | €129,812 | -€40,838 | -23.9% |
| Stocks and contracts in progress | 3 | €25,092 | €2,064 | -€23,028 | -91.8% |
| Stocks | 30/36 | €25,092 | €2,064 | -€23,028 | -91.8% |
| Amounts receivable within one year | 40/41 | €60,729 | €88,852 | +€28,123 | +46.3% |
| Trade receivables | 40 | €56,668 | €79,835 | +€23,168 | +40.9% |
| Other amounts receivable | 41 | €4,061 | €9,017 | +€4,955 | +122% |
| Cash at bank and in hand | 54/58 | €84,465 | €38,606 | -€45,859 | -54.3% |
| Deferred charges and accrued income | 490/1 | €364 | €290 | -€75 | -20.5% |
| Total equity and liabilities | 10/49 | €211,339 | €1,351,463 | +€1.1m | +539% |
| Equity | 10/15 | €153,799 | €268,828 | +€115,029 | +74.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €151,799 | €266,828 | +€115,029 | +75.8% |
| Amounts payable | 17/49 | €57,540 | €1,082,635 | +€1.0m | +1,782% |
| Amounts payable after more than one year | 17 | €18,470 | €888,477 | +€870,007 | +4,710% |
| Financial debts | 170/4 | €18,470 | €888,477 | +€870,007 | +4,710% |
| Amounts payable within one year | 42/48 | €38,875 | €193,963 | +€155,088 | +399% |
| Current portion of amounts payable after more than one year | 42 | €18,031 | €9,993 | -€8,039 | -44.6% |
| Financial debts | 43 | €11 | €0 | -€11 | -100% |
| Credit institutions | 430/8 | €11 | €0 | -€11 | -100% |
| Trade debts | 44 | €2,744 | €5,329 | +€2,584 | +94.2% |
| Suppliers | 440/4 | €2,744 | €5,329 | +€2,584 | +94.2% |
| Taxes, remuneration and social security | 45 | €11,739 | €17,818 | +€6,078 | +51.8% |
| Taxes | 450/3 | €11,739 | €17,818 | +€6,078 | +51.8% |
| Other amounts payable | 47/48 | €6,349 | €160,824 | +€154,475 | +2,433% |
| Accrued charges and deferred income | 492/3 | €195 | €195 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,123 | €23,057 | -€2,067 | -8.2% |
| Other operating charges | 640/8 | €2,017 | €1,223 | -€794 | -39.4% |
| Gross operating margin | 9900 | €79,578 | €157,505 | +€77,927 | +97.9% |
| Operating profit (loss) | 9901 | €52,438 | €133,226 | +€80,788 | +154% |
| Financial income | 75/76B | €54 | €30,015 | +€29,960 | +55,034% |
| Recurring financial income | 75 | €54 | €30,015 | +€29,960 | +55,034% |
| Financial charges | 65/66B | €1,535 | €8,721 | +€7,186 | +468% |
| Recurring financial charges | 65 | €1,535 | €8,721 | +€7,186 | +468% |
| Profit (loss) for the period before taxes | 9903 | €50,957 | €154,519 | +€103,562 | +203% |
| Income taxes | 67/77 | €11,656 | €39,490 | +€27,835 | +239% |
| Profit (loss) for the period | 9904 | €39,301 | €115,029 | +€75,728 | +193% |
| Profit (loss) for the period to be appropriated | 9905 | €39,301 | €115,029 | +€75,728 | +193% |
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 16 October 2026 via checked.be.