FLEXIBELT: 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.
FLEXIBELT
Largest movements
- Cash -€230,052
down €230,052 (-49.9%), from €461,098 to €231,047
mainly Trade debts (-€143,906) and Contributions, distributions and other (-€116,450)
- Tangible fixed assets -€21,499
down €21,499 (-5.0%), from €427,606 to €406,107
of which Plant, machinery and equipment: -€28,556
- Stocks and contracts +€15,700
up €15,700 (+35.4%), from €44,300 to €60,000
- Trade debts -€143,906
down €143,906 (-38.6%), from €372,561 to €228,655
- Other debts -€83,550
down €83,550 (-41.8%), from €200,000 to €116,450
- Debts after one year -€35,137
down €35,137 (-11.3%), from €311,628 to €276,491
- Tax, wage and social debts +€19,960
up €19,960 (+105.6%), from €18,899 to €38,859
of which Taxes: +€20,105
- Gross operating margin -€74,923
down €74,923 (-17.2%), from €435,846 to €360,923
- Depreciation +€20,284
up €20,284 (+36.9%), from €55,012 to €75,297
- Financial charges -€7,978
down €7,978 (-31.7%), from €25,193 to €17,215
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 | €1,227,307 | €981,553 | -€245,754 | -20.0% |
| Fixed assets | 21/28 | €427,606 | €406,107 | -€21,499 | -5.0% |
| Tangible fixed assets | 22/27 | €427,606 | €406,107 | -€21,499 | -5.0% |
| Land and buildings | 22 | €223,049 | €243,709 | +€20,660 | +9.3% |
| Plant, machinery and equipment | 23 | €173,682 | €145,127 | -€28,556 | -16.4% |
| Furniture and vehicles | 24 | €30,875 | €17,272 | -€13,603 | -44.1% |
| Current assets | 29/58 | €799,700 | €575,446 | -€224,255 | -28.0% |
| Stocks and contracts in progress | 3 | €44,300 | €60,000 | +€15,700 | +35.4% |
| Stocks | 30/36 | €44,300 | €60,000 | +€15,700 | +35.4% |
| Amounts receivable within one year | 40/41 | €289,378 | €284,399 | -€4,979 | -1.7% |
| Trade receivables | 40 | €168,801 | €205,551 | +€36,749 | +21.8% |
| Other amounts receivable | 41 | €120,577 | €78,848 | -€41,728 | -34.6% |
| Cash at bank and in hand | 54/58 | €461,098 | €231,047 | -€230,052 | -49.9% |
| Deferred charges and accrued income | 490/1 | €4,924 | €0 | -€4,924 | -100.0% |
| Total equity and liabilities | 10/49 | €1,227,307 | €981,553 | -€245,754 | -20.0% |
| Equity | 10/15 | €252,183 | €252,199 | +€15 | 0.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €228,146 | €228,146 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €226,291 | €226,291 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,488 | €5,503 | +€15 | +0.3% |
| Amounts payable | 17/49 | €975,123 | €729,354 | -€245,769 | -25.2% |
| Amounts payable after more than one year | 17 | €311,628 | €276,491 | -€35,137 | -11.3% |
| Financial debts | 170/4 | €311,628 | €276,491 | -€35,137 | -11.3% |
| Amounts payable within one year | 42/48 | €660,885 | €452,864 | -€208,021 | -31.5% |
| Current portion of amounts payable after more than one year | 42 | €69,426 | €68,900 | -€526 | -0.8% |
| Trade debts | 44 | €372,561 | €228,655 | -€143,906 | -38.6% |
| Suppliers | 440/4 | €372,561 | €228,655 | -€143,906 | -38.6% |
| Taxes, remuneration and social security | 45 | €18,899 | €38,859 | +€19,960 | +105.6% |
| Taxes | 450/3 | €0 | €20,105 | +€20,105 | |
| Remuneration and social security | 454/9 | €18,899 | €18,754 | -€145 | -0.8% |
| Other amounts payable | 47/48 | €200,000 | €116,450 | -€83,550 | -41.8% |
| Accrued charges and deferred income | 492/3 | €2,611 | €0 | -€2,611 | -100.0% |
| Remuneration, social security and pensions | 62 | €148,717 | €151,412 | +€2,696 | +1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,012 | €75,297 | +€20,284 | +36.9% |
| Other operating charges | 640/8 | €2,346 | €1,712 | -€634 | -27.0% |
| Gross operating margin | 9900 | €435,846 | €360,923 | -€74,923 | -17.2% |
| Operating profit (loss) | 9901 | €229,771 | €132,502 | -€97,269 | -42.3% |
| Financial income | 75/76B | €910 | €1,660 | +€751 | +82.5% |
| Recurring financial income | 75 | €910 | €1,660 | +€751 | +82.5% |
| Financial charges | 65/66B | €25,193 | €17,215 | -€7,978 | -31.7% |
| Recurring financial charges | 65 | €25,193 | €17,215 | -€7,978 | -31.7% |
| Profit (loss) for the period before taxes | 9903 | €205,488 | €116,948 | -€88,540 | -43.1% |
| Income taxes | 67/77 | €0 | €483 | +€483 | |
| Profit (loss) for the period | 9904 | €205,488 | €116,465 | -€89,023 | -43.3% |
| Profit (loss) for the period to be appropriated | 9905 | €205,488 | €116,465 | -€89,023 | -43.3% |
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 11 October 2026 via checked.be.