Flexo: 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.
Flexo
Largest movements
- Cash -€498,877
down €498,877 (-73.6%), from €678,015 to €179,138
mainly Contributions, distributions and other (-€439,176) and Current investments (-€119,711)
- Current investments +€119,711
up €119,711 (+147%), from €81,280 to €200,992
- Deferred charges and accrued income +€36,134
up €36,134 (+1,730%), from €2,089 to €38,223
- Receivables after one year -€35,300
no longer reported in 2025 (was €35,300)
- Tangible fixed assets -€17,007
down €17,007 (-27.2%), from €62,572 to €45,565
of which Furniture and vehicles: -€16,286
- Reserves -€392,333
down €392,333 (-48.1%), from €815,581 to €423,248
- Gross operating margin -€96,711
down €96,711 (-52.8%), from €183,103 to €86,392
- Taxes -€29,338
down €29,338 (-67.7%), from €43,319 to €13,981
- Financial income -€17,075
down €17,075 (-89.3%), from €19,124 to €2,049
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 | €859,395 | €465,767 | -€393,627 | -45.8% |
| Fixed assets | 21/28 | €62,572 | €45,565 | -€17,007 | -27.2% |
| Tangible fixed assets | 22/27 | €62,572 | €45,565 | -€17,007 | -27.2% |
| Land and buildings | 22 | €2,339 | €1,618 | -€721 | -30.8% |
| Furniture and vehicles | 24 | €60,233 | €43,947 | -€16,286 | -27.0% |
| Current assets | 29/58 | €796,823 | €420,202 | -€376,620 | -47.3% |
| Amounts receivable after more than one year | 29 | €35,300 | - | -€35,300 | |
| Other amounts receivable | 291 | €35,300 | - | -€35,300 | |
| Amounts receivable within one year | 40/41 | €138 | €1,849 | +€1,712 | +1,243% |
| Other amounts receivable | 41 | €138 | €1,849 | +€1,712 | +1,243% |
| Current investments | 50/53 | €81,280 | €200,992 | +€119,711 | +147% |
| Cash at bank and in hand | 54/58 | €678,015 | €179,138 | -€498,877 | -73.6% |
| Deferred charges and accrued income | 490/1 | €2,089 | €38,223 | +€36,134 | +1,730% |
| Total equity and liabilities | 10/49 | €859,395 | €465,767 | -€393,627 | -45.8% |
| Equity | 10/15 | €818,581 | €426,248 | -€392,333 | -47.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €815,581 | €423,248 | -€392,333 | -48.1% |
| Distributable reserves | 133 | €815,581 | €423,248 | -€392,333 | -48.1% |
| Amounts payable | 17/49 | €40,813 | €39,520 | -€1,294 | -3.2% |
| Amounts payable within one year | 42/48 | €40,813 | €39,520 | -€1,294 | -3.2% |
| Trade debts | 44 | €1,907 | €38 | -€1,869 | -98.0% |
| Suppliers | 440/4 | €1,907 | €38 | -€1,869 | -98.0% |
| Taxes, remuneration and social security | 45 | €37,582 | €37,582 | +€1 | 0.0% |
| Taxes | 450/3 | €37,582 | €37,582 | +€1 | 0.0% |
| Other amounts payable | 47/48 | €1,325 | €1,900 | +€575 | +43.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,527 | €20,193 | -€334 | -1.6% |
| Other operating charges | 640/8 | €1,104 | €813 | -€291 | -26.4% |
| Non-recurring operating charges | 66A | - | €5,950 | +€5,950 | |
| Gross operating margin | 9900 | €183,103 | €86,392 | -€96,711 | -52.8% |
| Operating profit (loss) | 9901 | €161,472 | €59,436 | -€102,037 | -63.2% |
| Financial income | 75/76B | €19,124 | €2,049 | -€17,075 | -89.3% |
| Recurring financial income | 75 | €19,124 | €2,049 | -€17,075 | -89.3% |
| Financial charges | 65/66B | €135 | €661 | +€526 | +390% |
| Recurring financial charges | 65 | €135 | €661 | +€526 | +390% |
| Profit (loss) for the period before taxes | 9903 | €180,462 | €60,824 | -€119,638 | -66.3% |
| Income taxes | 67/77 | €43,319 | €13,981 | -€29,338 | -67.7% |
| Profit (loss) for the period | 9904 | €137,143 | €46,843 | -€90,300 | -65.8% |
| Profit (loss) for the period to be appropriated | 9905 | €137,143 | €46,843 | -€90,300 | -65.8% |
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 18 October 2026 via checked.be.