FLEXCOR: 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.
FLEXCOR
Largest movements
- Receivables within one year +€126,095
up €126,095 (+69.1%), from €182,566 to €308,661
of which Other amounts receivable: +€129,913
- Cash +€60,024
up €60,024 (+16.1%), from €373,088 to €433,112
mainly Net result for the year (+€219,705) and Depreciation (+€59,096)
- Tangible fixed assets -€59,096
down €59,096 (-8.6%), from €685,629 to €626,533
of which Land and buildings: -€56,668
- Reserves +€189,705
up €189,705 (+27.7%), from €685,973 to €875,678
of which Distributable reserves: +€189,705
- Other debts -€69,324
down €69,324 (-15.0%), from €461,539 to €392,215
- Gross operating margin -€10,469
down €10,469 (-2.4%), from €431,756 to €421,288
- Taxes -€8,629
down €8,629 (-7.6%), from €113,984 to €105,355
- Financial charges -€7,126
down €7,126 (-18.6%), from €38,253 to €31,127
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 | €1,246,029 | €1,373,492 | +€127,463 | +10.2% |
| Fixed assets | 21/28 | €685,629 | €626,533 | -€59,096 | -8.6% |
| Tangible fixed assets | 22/27 | €685,629 | €626,533 | -€59,096 | -8.6% |
| Land and buildings | 22 | €663,814 | €607,146 | -€56,668 | -8.5% |
| Plant, machinery and equipment | 23 | €16,417 | €14,917 | -€1,500 | -9.1% |
| Furniture and vehicles | 24 | €5,398 | €4,470 | -€928 | -17.2% |
| Current assets | 29/58 | €560,400 | €746,959 | +€186,559 | +33.3% |
| Amounts receivable within one year | 40/41 | €182,566 | €308,661 | +€126,095 | +69.1% |
| Trade receivables | 40 | €124,767 | €120,949 | -€3,818 | -3.1% |
| Other amounts receivable | 41 | €57,799 | €187,712 | +€129,913 | +224.8% |
| Current investments | 50/53 | €19 | - | -€19 | |
| Cash at bank and in hand | 54/58 | €373,088 | €433,112 | +€60,024 | +16.1% |
| Deferred charges and accrued income | 490/1 | €4,726 | €5,185 | +€459 | +9.7% |
| Total equity and liabilities | 10/49 | €1,246,029 | €1,373,492 | +€127,463 | +10.2% |
| Equity | 10/15 | €722,672 | €912,376 | +€189,705 | +26.3% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €685,973 | €875,678 | +€189,705 | +27.7% |
| Non-distributable reserves | 130/1 | €25,000 | €25,000 | = | 0.0% |
| Legal reserve | 130 | €25,000 | €25,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,081 | €1,081 | = | 0.0% |
| Distributable reserves | 133 | €659,892 | €849,597 | +€189,705 | +28.7% |
| Profit (loss) carried forward | 14 | -€24,802 | -€24,802 | = | 0.0% |
| Amounts payable | 17/49 | €523,357 | €461,116 | -€62,241 | -11.9% |
| Amounts payable within one year | 42/48 | €523,357 | €461,116 | -€62,241 | -11.9% |
| Trade debts | 44 | €17,758 | €24,886 | +€7,128 | +40.1% |
| Suppliers | 440/4 | €17,758 | €24,886 | +€7,128 | +40.1% |
| Taxes, remuneration and social security | 45 | €44,060 | €44,015 | -€45 | -0.1% |
| Taxes | 450/3 | €44,060 | €44,015 | -€45 | -0.1% |
| Other amounts payable | 47/48 | €461,539 | €392,215 | -€69,324 | -15.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,917 | €59,096 | +€179 | +0.3% |
| Other operating charges | 640/8 | €8,205 | €6,005 | -€2,200 | -26.8% |
| Gross operating margin | 9900 | €431,756 | €421,288 | -€10,469 | -2.4% |
| Operating profit (loss) | 9901 | €364,634 | €356,187 | -€8,447 | -2.3% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €38,253 | €31,127 | -€7,126 | -18.6% |
| Recurring financial charges | 65 | €38,253 | €31,127 | -€7,126 | -18.6% |
| Profit (loss) for the period before taxes | 9903 | €326,381 | €325,059 | -€1,321 | -0.4% |
| Income taxes | 67/77 | €113,984 | €105,355 | -€8,629 | -7.6% |
| Profit (loss) for the period | 9904 | €212,397 | €219,705 | +€7,308 | +3.4% |
| Profit (loss) for the period to be appropriated | 9905 | €212,397 | €219,705 | +€7,308 | +3.4% |
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 6 October 2026 via checked.be.