FLEXIPACK: 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.
FLEXIPACK
Largest movements
- Stocks and contracts +€17,493
up €17,493 (+14.3%), from €122,722 to €140,215
- Tangible fixed assets -€7,755
down €7,755 (-61.0%), from €12,715 to €4,960
of which Furniture and vehicles: -€8,257
- Cash +€6,410
up €6,410 (+28.4%), from €22,596 to €29,006
mainly Trade debts (+€17,936) and Depreciation (+€8,408)
- Trade debts +€17,936
up €17,936 (+51.5%), from €34,854 to €52,789
- Current portion of long-term debt -€4,265
no longer reported in 2025 (was €4,265)
- Tax, wage and social debts -€2,255
down €2,255 (-30.8%), from €7,330 to €5,075
- Gross operating margin -€1,664
down €1,664 (-11.6%), from €14,382 to €12,718
- Taxes -€336
down €336 (-16.5%), from €2,029 to €1,693
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 | €189,545 | €202,996 | +€13,450 | +7.1% |
| Fixed assets | 21/28 | €12,715 | €4,960 | -€7,755 | -61.0% |
| Tangible fixed assets | 22/27 | €12,715 | €4,960 | -€7,755 | -61.0% |
| Plant, machinery and equipment | 23 | €195 | €697 | +€501 | +257% |
| Furniture and vehicles | 24 | €12,520 | €4,263 | -€8,257 | -65.9% |
| Current assets | 29/58 | €176,830 | €198,035 | +€21,206 | +12.0% |
| Stocks and contracts in progress | 3 | €122,722 | €140,215 | +€17,493 | +14.3% |
| Stocks | 30/36 | €122,722 | €140,215 | +€17,493 | +14.3% |
| Amounts receivable within one year | 40/41 | €29,193 | €27,171 | -€2,022 | -6.9% |
| Trade receivables | 40 | €28,722 | €26,347 | -€2,375 | -8.3% |
| Other amounts receivable | 41 | €471 | €824 | +€353 | +74.9% |
| Cash at bank and in hand | 54/58 | €22,596 | €29,006 | +€6,410 | +28.4% |
| Deferred charges and accrued income | 490/1 | €2,319 | €1,644 | -€675 | -29.1% |
| Total equity and liabilities | 10/49 | €189,545 | €202,996 | +€13,450 | +7.1% |
| Equity | 10/15 | €118,300 | €119,236 | +€936 | +0.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €27,993 | €28,929 | +€936 | +3.3% |
| Distributable reserves | 133 | €27,993 | €28,929 | +€936 | +3.3% |
| Profit (loss) carried forward | 14 | €71,707 | €71,707 | = | 0.0% |
| Amounts payable | 17/49 | €71,245 | €83,760 | +€12,515 | +17.6% |
| Amounts payable within one year | 42/48 | €71,245 | €83,760 | +€12,515 | +17.6% |
| Current portion of amounts payable after more than one year | 42 | €4,265 | - | -€4,265 | |
| Trade debts | 44 | €34,854 | €52,789 | +€17,936 | +51.5% |
| Suppliers | 440/4 | €34,854 | €52,789 | +€17,936 | +51.5% |
| Taxes, remuneration and social security | 45 | €7,330 | €5,075 | -€2,255 | -30.8% |
| Taxes | 450/3 | €7,330 | €5,075 | -€2,255 | -30.8% |
| Other amounts payable | 47/48 | €24,796 | €25,895 | +€1,099 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,318 | €8,408 | +€90 | +1.1% |
| Other operating charges | 640/8 | €1,696 | €1,570 | -€126 | -7.4% |
| Gross operating margin | 9900 | €14,382 | €12,718 | -€1,664 | -11.6% |
| Operating profit (loss) | 9901 | €4,368 | €2,740 | -€1,628 | -37.3% |
| Financial income | 75/76B | €41 | €25 | -€17 | -40.1% |
| Recurring financial income | 75 | €41 | €25 | -€17 | -40.1% |
| Financial charges | 65/66B | €270 | €136 | -€134 | -49.8% |
| Recurring financial charges | 65 | €270 | €136 | -€134 | -49.8% |
| Profit (loss) for the period before taxes | 9903 | €4,140 | €2,629 | -€1,510 | -36.5% |
| Income taxes | 67/77 | €2,029 | €1,693 | -€336 | -16.5% |
| Profit (loss) for the period | 9904 | €2,111 | €936 | -€1,175 | -55.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,111 | €936 | -€1,175 | -55.7% |
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 30 October 2026 via checked.be.