FLEXIWATT: 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.
What changed
FLEXIWATT
NACE 43.211, General electrical installation work
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
-€301,721
2023 · €402,859-€704,581
Equity
€1.6m
2023 · €1.9m-€301,721
Cash
€1.0m
2023 · €1.6m-€596,590
Balance sheet total
€11.1m
2023 · €12.4m-€1.3m
Largest movements
Assets
- Tangible fixed assets -€771,231
down €771,231 (-8.4%), from €9.2m to €8.4m
- Cash -€596,590
down €596,590 (-37.0%), from €1.6m to €1.0m
mainly Debts after one year (-€587,488) and Investment in fixed assets (net) (-€368,517)
- Receivables within one year +€179,454
up €179,454 (+29.6%), from €606,730 to €786,184
Equity and liabilities
- Debts after one year -€587,488
down €587,488 (-9.0%), from €6.5m to €6.0m
- Profit (loss) carried forward -€301,721
down €301,721 (-36.4%), from €828,321 to €526,600
- Other debts -€265,000
down €265,000 (-15.4%), from €1.7m to €1.5m
Income statement
- Turnover -€258,669
down €258,669 (-12.6%), from €2.1m to €1.8m
- Depreciation +€105,193
up €105,193 (+9.5%), from €1.1m to €1.2m
- Services and other goods +€78,915
up €78,915 (+18.1%), from €437,102 to €516,017
- Financial charges +€65,577
up €65,577 (+38.7%), from €169,478 to €235,056
- Other operating income -€40,906
down €40,906 (-88.8%), from €46,069 to €5,163
From the 2023 result to the 2024 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.
Result 2023
€402,859
Turnover
-€258,669
Other operating income
-€40,906
Services and other goods
-€78,915
Depreciation
-€105,193
Provisions
-€21,550
Other operating charges
-€1,959
Other operating items
-€131,811
Financial charges
-€65,577
Result 2024
-€301,721
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€413,250
Investment
-€368,517
Financing
-€641,323
Cash 2023
€1.6m
From operations (derived)
+€413,250
Net result for the year
-€301,721
Depreciation
+€1.2m
Receivables within one year
-€179,454
Deferred charges and accrued income
+€20,359
Provisions
+€23,962
Trade debts
-€74,808
Tax, wage and social debts
-€21,286
Other debts
-€265,000
Investment (derived)
-€368,517
Investment in fixed assets (net)
-€368,517
Financing
-€641,323
Debts after one year
-€587,488
Current portion of long-term debt
-€53,835
Cash 2024
€1.0m
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,363,322 | €11,083,144 | -€1.3m | -10.4% |
| Fixed assets | 21/28 | €10,125,100 | €9,282,417 | -€842,683 | -8.3% |
| Intangible fixed assets | 21 | €911,864 | €840,412 | -€71,452 | -7.8% |
| Tangible fixed assets | 22/27 | €9,213,236 | €8,442,005 | -€771,231 | -8.4% |
| Plant, machinery and equipment | 23 | €9,213,236 | €8,442,005 | -€771,231 | -8.4% |
| Current assets | 29/58 | €2,238,222 | €1,800,727 | -€437,495 | -19.5% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €606,730 | €786,184 | +€179,454 | +29.6% |
| Trade receivables | 40 | €606,730 | €786,184 | +€179,454 | +29.6% |
| Cash at bank and in hand | 54/58 | €1,611,133 | €1,014,543 | -€596,590 | -37.0% |
| Deferred charges and accrued income | 490/1 | €20,359 | €0 | -€20,359 | -100.0% |
| Total equity and liabilities | 10/49 | €12,363,322 | €11,083,144 | -€1.3m | -10.4% |
| Equity | 10/15 | €1,914,023 | €1,612,301 | -€301,721 | -15.8% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Capital | 10 | €1,000,000 | €1,000,000 | = | 0.0% |
| Issued capital | 100 | €1,000,000 | €1,000,000 | = | 0.0% |
| Reserves | 13 | €85,701 | €85,701 | = | 0.0% |
| Non-distributable reserves | 130/1 | €85,701 | €85,701 | = | 0.0% |
| Legal reserve | 130 | €85,701 | €85,701 | = | 0.0% |
| Profit (loss) carried forward | 14 | €828,321 | €526,600 | -€301,721 | -36.4% |
| Provisions and deferred taxes | 16 | €4,771 | €28,732 | +€23,962 | +502.3% |
| Provisions for liabilities and charges | 160/5 | €4,771 | €28,732 | +€23,962 | +502.3% |
| Major repairs and maintenance | 162 | €4,771 | €28,732 | +€23,962 | +502.3% |
| Amounts payable | 17/49 | €10,444,529 | €9,442,111 | -€1.0m | -9.6% |
| Amounts payable after more than one year | 17 | €6,538,490 | €5,951,002 | -€587,488 | -9.0% |
| Financial debts | 170/4 | €6,538,490 | €5,951,002 | -€587,488 | -9.0% |
| Subordinated loans | 170 | €325,971 | €274,135 | -€51,835 | -15.9% |
| Credit institutions | 173 | €6,212,520 | €5,676,867 | -€535,653 | -8.6% |
| Amounts payable within one year | 42/48 | €3,889,009 | €3,474,080 | -€414,929 | -10.7% |
| Current portion of amounts payable after more than one year | 42 | €1,321,636 | €1,267,801 | -€53,835 | -4.1% |
| Trade debts | 44 | €723,299 | €648,491 | -€74,808 | -10.3% |
| Suppliers | 440/4 | €723,299 | €648,491 | -€74,808 | -10.3% |
| Taxes, remuneration and social security | 45 | €119,073 | €97,787 | -€21,286 | -17.9% |
| Taxes | 450/3 | €119,073 | €97,787 | -€21,286 | -17.9% |
| Other amounts payable | 47/48 | €1,725,000 | €1,460,000 | -€265,000 | -15.4% |
| Accrued charges and deferred income | 492/3 | €17,030 | €17,030 | = | 0.0% |
| Operating income | 70/76A | €2,118,535 | €1,801,402 | -€317,133 | -15.0% |
| Turnover | 70 | €2,054,908 | €1,796,239 | -€258,669 | -12.6% |
| Other operating income | 74 | €46,069 | €5,163 | -€40,906 | -88.8% |
| Non-recurring operating income | 76A | €17,558 | €0 | -€17,558 | -100.0% |
| Operating charges | 60/66A | €1,546,197 | €1,868,067 | +€321,870 | +20.8% |
| Services and other goods | 61 | €437,102 | €516,017 | +€78,915 | +18.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,106,007 | €1,211,199 | +€105,193 | +9.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €2,412 | €23,962 | +€21,550 | +893.6% |
| Other operating charges | 640/8 | €0 | €1,959 | +€1,959 | |
| Non-recurring operating charges | 66A | €677 | €114,930 | +€114,253 | +16872.9% |
| Operating profit (loss) | 9901 | €572,338 | -€66,666 | -€639,003 | |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Other financial income | 752/9 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €169,478 | €235,056 | +€65,577 | +38.7% |
| Recurring financial charges | 65 | €169,478 | €235,056 | +€65,577 | +38.7% |
| Debt charges | 650 | €168,442 | €234,506 | +€66,064 | +39.2% |
| Other financial charges | 652/9 | €1,036 | €549 | -€487 | -47.0% |
| Profit (loss) for the period before taxes | 9903 | €402,859 | -€301,721 | -€704,581 | |
| Profit (loss) for the period | 9904 | €402,859 | -€301,721 | -€704,581 | |
| Profit (loss) for the period to be appropriated | 9905 | €402,859 | -€301,721 | -€704,581 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.