Flex-Delivery: 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-Delivery
Largest movements
- Receivables within one year +€19,439
up €19,439 (+51.7%), from €37,601 to €57,040
of which Trade receivables: +€19,592
- Financial fixed assets +€19,000
up €19,000 (+950.0%), from €2,000 to €21,000
- Cash -€12,898
down €12,898 (-34.7%), from €37,150 to €24,252
mainly Investment in fixed assets (net) (-€22,675) and Receivables within one year (-€19,439)
- Tangible fixed assets -€5,477
down €5,477 (-14.0%), from €39,139 to €33,663
of which Plant, machinery and equipment: -€3,983
- Reserves +€33,185
up €33,185 (+151.9%), from €21,840 to €55,025
- Other debts -€7,969
down €7,969 (-20.2%), from €39,434 to €31,465
- Tax, wage and social debts -€7,050
down €7,050 (-15.8%), from €44,566 to €37,516
of which Remuneration and social security: -€24,777
- Trade debts +€6,586
up €6,586 (+762.5%), from €864 to €7,450
- Accrued charges and deferred income -€4,687
no longer reported in 2025 (was €4,687)
- Gross operating margin +€32,073
up €32,073 (+24.8%), from €129,380 to €161,453
- Depreciation +€7,491
up €7,491 (+451.1%), from €1,661 to €9,152
- Taxes +€2,595
up €2,595 (+44.3%), from €5,857 to €8,452
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 | €115,891 | €135,955 | +€20,065 | +17.3% |
| Fixed assets | 21/28 | €41,139 | €54,663 | +€13,523 | +32.9% |
| Tangible fixed assets | 22/27 | €39,139 | €33,663 | -€5,477 | -14.0% |
| Plant, machinery and equipment | 23 | €34,000 | €30,017 | -€3,983 | -11.7% |
| Furniture and vehicles | 24 | €5,139 | €3,646 | -€1,493 | -29.1% |
| Financial fixed assets | 28 | €2,000 | €21,000 | +€19,000 | +950.0% |
| Current assets | 29/58 | €74,751 | €81,292 | +€6,541 | +8.8% |
| Amounts receivable within one year | 40/41 | €37,601 | €57,040 | +€19,439 | +51.7% |
| Trade receivables | 40 | €37,448 | €57,040 | +€19,592 | +52.3% |
| Other amounts receivable | 41 | €153 | - | -€153 | |
| Cash at bank and in hand | 54/58 | €37,150 | €24,252 | -€12,898 | -34.7% |
| Total equity and liabilities | 10/49 | €115,891 | €135,955 | +€20,065 | +17.3% |
| Equity | 10/15 | €26,340 | €59,525 | +€33,185 | +126.0% |
| Contributions | 10/11 | €4,500 | €4,500 | = | 0.0% |
| Reserves | 13 | €21,840 | €55,025 | +€33,185 | +151.9% |
| Distributable reserves | 133 | €21,840 | €55,025 | +€33,185 | +151.9% |
| Amounts payable | 17/49 | €89,551 | €76,431 | -€13,120 | -14.7% |
| Amounts payable within one year | 42/48 | €84,864 | €76,431 | -€8,433 | -9.9% |
| Trade debts | 44 | €864 | €7,450 | +€6,586 | +762.5% |
| Suppliers | 440/4 | €864 | €7,450 | +€6,586 | +762.5% |
| Taxes, remuneration and social security | 45 | €44,566 | €37,516 | -€7,050 | -15.8% |
| Taxes | 450/3 | €5,396 | €23,122 | +€17,726 | +328.5% |
| Remuneration and social security | 454/9 | €39,170 | €14,394 | -€24,777 | -63.3% |
| Other amounts payable | 47/48 | €39,434 | €31,465 | -€7,969 | -20.2% |
| Accrued charges and deferred income | 492/3 | €4,687 | - | -€4,687 | |
| Remuneration, social security and pensions | 62 | €99,139 | €98,735 | -€404 | -0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,661 | €9,152 | +€7,491 | +451.1% |
| Other operating charges | 640/8 | €282 | €1,776 | +€1,494 | +528.9% |
| Gross operating margin | 9900 | €129,380 | €161,453 | +€32,073 | +24.8% |
| Operating profit (loss) | 9901 | €28,298 | €51,790 | +€23,492 | +83.0% |
| Financial charges | 65/66B | €601 | €153 | -€448 | -74.5% |
| Recurring financial charges | 65 | €601 | €153 | -€448 | -74.5% |
| Profit (loss) for the period before taxes | 9903 | €27,697 | €51,637 | +€23,940 | +86.4% |
| Income taxes | 67/77 | €5,857 | €8,452 | +€2,595 | +44.3% |
| Profit (loss) for the period | 9904 | €21,840 | €43,185 | +€21,345 | +97.7% |
| Profit (loss) for the period to be appropriated | 9905 | €21,840 | €43,185 | +€21,345 | +97.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.