Flex: 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.
Flex
Largest movements
- Current investments +€70,000
up €70,000 (+70.0%), from €100,000 to €170,000
- Receivables within one year +€9,778
up €9,778 (+23.4%), from €41,794 to €51,573
of which Other amounts receivable: +€7,048
- Other debts +€45,739
up €45,739 (+37.2%), from €123,022 to €168,761
- Reserves +€20,264
up €20,264 (+8.9%), from €227,970 to €248,234
- Accrued charges and deferred income -€18,375
down €18,375 (-87.3%), from €21,049 to €2,674
- Trade debts +€18,005
up €18,005 (+166,402%), from €11 to €18,015
- Current portion of long-term debt +€8,917
up €8,917 (+42.4%), from €21,033 to €29,950
- Financial charges +€58,416
up €58,416 (+369%), from €15,839 to €74,255
- Taxes -€22,532
down €22,532 (-72.4%), from €31,141 to €8,609
- Depreciation +€12,109
up €12,109 (+22.9%), from €52,932 to €65,041
- Gross operating margin -€9,814
down €9,814 (-5.3%), from €186,026 to €176,212
- Financial income +€2,191
new in 2025: €2,191
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 | €783,817 | €865,626 | +€81,809 | +10.4% |
| Fixed assets | 21/28 | €553,251 | €552,562 | -€688 | -0.1% |
| Tangible fixed assets | 22/27 | €552,201 | €551,512 | -€688 | -0.1% |
| Land and buildings | 22 | €539,914 | €494,043 | -€45,871 | -8.5% |
| Plant, machinery and equipment | 23 | €11,754 | €6,735 | -€5,019 | -42.7% |
| Furniture and vehicles | 24 | €533 | €50,734 | +€50,201 | +9,427% |
| Financial fixed assets | 28 | €1,050 | €1,050 | = | 0.0% |
| Current assets | 29/58 | €230,567 | €313,064 | +€82,497 | +35.8% |
| Amounts receivable within one year | 40/41 | €41,794 | €51,573 | +€9,778 | +23.4% |
| Trade receivables | 40 | €41,794 | €44,525 | +€2,730 | +6.5% |
| Other amounts receivable | 41 | - | €7,048 | +€7,048 | |
| Current investments | 50/53 | €100,000 | €170,000 | +€70,000 | +70.0% |
| Cash at bank and in hand | 54/58 | €87,046 | €89,647 | +€2,601 | +3.0% |
| Deferred charges and accrued income | 490/1 | €1,727 | €1,844 | +€118 | +6.8% |
| Total equity and liabilities | 10/49 | €783,817 | €865,626 | +€81,809 | +10.4% |
| Equity | 10/15 | €228,970 | €249,234 | +€20,264 | +8.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €227,970 | €248,234 | +€20,264 | +8.9% |
| Distributable reserves | 133 | €227,970 | €248,234 | +€20,264 | +8.9% |
| Amounts payable | 17/49 | €554,848 | €616,392 | +€61,544 | +11.1% |
| Amounts payable after more than one year | 17 | €375,549 | €382,827 | +€7,278 | +1.9% |
| Financial debts | 170/4 | €375,549 | €382,827 | +€7,278 | +1.9% |
| Amounts payable within one year | 42/48 | €158,250 | €230,891 | +€72,642 | +45.9% |
| Current portion of amounts payable after more than one year | 42 | €21,033 | €29,950 | +€8,917 | +42.4% |
| Trade debts | 44 | €11 | €18,015 | +€18,005 | +166,402% |
| Suppliers | 440/4 | €11 | €18,015 | +€18,005 | +166,402% |
| Taxes, remuneration and social security | 45 | €14,184 | €14,165 | -€19 | -0.1% |
| Taxes | 450/3 | €14,184 | €14,165 | -€19 | -0.1% |
| Other amounts payable | 47/48 | €123,022 | €168,761 | +€45,739 | +37.2% |
| Accrued charges and deferred income | 492/3 | €21,049 | €2,674 | -€18,375 | -87.3% |
| Non-recurring operating income | 76A | - | €500 | +€500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,932 | €65,041 | +€12,109 | +22.9% |
| Other operating charges | 640/8 | €11,406 | €10,234 | -€1,172 | -10.3% |
| Gross operating margin | 9900 | €186,026 | €176,212 | -€9,814 | -5.3% |
| Operating profit (loss) | 9901 | €121,688 | €100,937 | -€20,751 | -17.1% |
| Financial income | 75/76B | - | €2,191 | +€2,191 | |
| Recurring financial income | 75 | - | €2,191 | +€2,191 | |
| Financial charges | 65/66B | €15,839 | €74,255 | +€58,416 | +369% |
| Recurring financial charges | 65 | €15,839 | €74,255 | +€58,416 | +369% |
| Profit (loss) for the period before taxes | 9903 | €105,849 | €28,873 | -€76,976 | -72.7% |
| Income taxes | 67/77 | €31,141 | €8,609 | -€22,532 | -72.4% |
| Profit (loss) for the period | 9904 | €74,709 | €20,264 | -€54,444 | -72.9% |
| Profit (loss) for the period to be appropriated | 9905 | €74,709 | €20,264 | -€54,444 | -72.9% |
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.