Flexiways: 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.
Flexiways
Largest movements
- Receivables within one year -€109,557
down €109,557 (-82.2%), from €133,207 to €23,650
of which Trade receivables: -€59,246
- Cash +€22,476
up €22,476 (+56.6%), from €39,692 to €62,168
mainly Receivables within one year (+€109,557) and Net result for the year (+€12,756)
- Current investments +€6,502
up €6,502 (+48.8%), from €13,328 to €19,830
- Deferred charges and accrued income -€4,242
no longer reported in 2025 (was €4,242)
- Trade debts -€103,151
down €103,151 (-91.9%), from €112,189 to €9,039
- Reserves +€12,756
up €12,756 (+20.4%), from €62,522 to €75,277
of which Distributable reserves: +€12,756
- Tax, wage and social debts +€8,416
up €8,416 (+101.9%), from €8,256 to €16,672
of which Taxes: +€8,416
- Investment grants -€4,216
down €4,216 (-100.0%), from €4,216 to €0
- Gross operating margin -€24,442
down €24,442 (-43.9%), from €55,702 to €31,259
- Depreciation +€5,777
up €5,777 (+87.0%), from €6,640 to €12,416
- Taxes +€5,251
up €5,251 (+786.1%), from €668 to €5,919
- Financial income +€2,913
new in 2025: €2,913
of which Financial income: +€1,987
- Financial charges +€2,215
up €2,215 (+430.7%), from €514 to €2,730
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 | €213,673 | €127,506 | -€86,168 | -40.3% |
| Fixed assets | 21/28 | €23,204 | €21,858 | -€1,346 | -5.8% |
| Tangible fixed assets | 22/27 | €23,145 | €21,798 | -€1,346 | -5.8% |
| Plant, machinery and equipment | 23 | €22,166 | €21,798 | -€367 | -1.7% |
| Furniture and vehicles | 24 | €979 | - | -€979 | |
| Financial fixed assets | 28 | €60 | €60 | = | 0.0% |
| Current assets | 29/58 | €190,469 | €105,648 | -€84,821 | -44.5% |
| Amounts receivable within one year | 40/41 | €133,207 | €23,650 | -€109,557 | -82.2% |
| Trade receivables | 40 | €82,896 | €23,650 | -€59,246 | -71.5% |
| Other amounts receivable | 41 | €50,311 | €0 | -€50,311 | -100.0% |
| Current investments | 50/53 | €13,328 | €19,830 | +€6,502 | +48.8% |
| Cash at bank and in hand | 54/58 | €39,692 | €62,168 | +€22,476 | +56.6% |
| Deferred charges and accrued income | 490/1 | €4,242 | - | -€4,242 | |
| Total equity and liabilities | 10/49 | €213,673 | €127,506 | -€86,168 | -40.3% |
| Equity | 10/15 | €91,641 | €100,181 | +€8,540 | +9.3% |
| Contributions | 10/11 | €6,201 | €6,201 | = | 0.0% |
| Reserves | 13 | €62,522 | €75,277 | +€12,756 | +20.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €60,662 | €73,417 | +€12,756 | +21.0% |
| Profit (loss) carried forward | 14 | €18,702 | €18,702 | = | 0.0% |
| Investment grants | 15 | €4,216 | €0 | -€4,216 | -100.0% |
| Amounts payable | 17/49 | €122,032 | €27,325 | -€94,708 | -77.6% |
| Amounts payable within one year | 42/48 | €122,032 | €27,325 | -€94,708 | -77.6% |
| Trade debts | 44 | €112,189 | €9,039 | -€103,151 | -91.9% |
| Suppliers | 440/4 | €112,189 | €9,039 | -€103,151 | -91.9% |
| Taxes, remuneration and social security | 45 | €8,256 | €16,672 | +€8,416 | +101.9% |
| Taxes | 450/3 | €6,256 | €14,672 | +€8,416 | +134.5% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €1,586 | €1,614 | +€28 | +1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,640 | €12,416 | +€5,777 | +87.0% |
| Other operating charges | 640/8 | €1,070 | €352 | -€719 | -67.1% |
| Non-recurring operating charges | 66A | €46,148 | - | -€46,148 | |
| Gross operating margin | 9900 | €55,702 | €31,259 | -€24,442 | -43.9% |
| Operating profit (loss) | 9901 | €1,844 | €18,491 | +€16,647 | +902.8% |
| Financial income | 75/76B | - | €2,913 | +€2,913 | |
| Recurring financial income | 75 | - | €1,987 | +€1,987 | |
| Non-recurring financial income | 76B | - | €926 | +€926 | |
| Financial charges | 65/66B | €514 | €2,730 | +€2,215 | +430.7% |
| Recurring financial charges | 65 | €514 | €2,730 | +€2,215 | +430.7% |
| Profit (loss) for the period before taxes | 9903 | €1,330 | €18,675 | +€17,345 | +1304.6% |
| Income taxes | 67/77 | €668 | €5,919 | +€5,251 | +786.1% |
| Profit (loss) for the period | 9904 | €662 | €12,756 | +€12,094 | +1828.2% |
| Profit (loss) for the period to be appropriated | 9905 | €662 | €12,756 | +€12,094 | +1828.2% |
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 5 October 2026 via checked.be.