FLIEGER: 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.
FLIEGER
Largest movements
- Receivables within one year +€100,285
up €100,285 (+126.2%), from €79,485 to €179,769
of which Trade receivables: +€102,933
- Stocks and contracts -€92,325
down €92,325 (-47.1%), from €195,945 to €103,620
of which Contracts in progress: -€85,328
- Cash -€17,886
down €17,886 (-38.5%), from €46,496 to €28,610
mainly Receivables within one year (-€100,285) and Short-term financial debts (-€30,000)
- Tangible fixed assets -€12,682
down €12,682 (-2.1%), from €616,506 to €603,824
of which Land and buildings: -€12,578
- Short-term financial debts -€30,000
down €30,000 (-8.3%), from €360,000 to €330,000
- Reserves +€19,065
up €19,065 (+7.6%), from €251,572 to €270,636
- Trade debts -€12,280
down €12,280 (-30.4%), from €40,382 to €28,102
- Financial charges -€8,662
down €8,662 (-27.8%), from €31,175 to €22,512
- Gross operating margin -€8,574
down €8,574 (-6.1%), from €140,521 to €131,947
- Staff costs -€3,942
down €3,942 (-7.3%), from €54,002 to €50,060
- Taxes +€2,648
up €2,648 (+114.3%), from €2,317 to €4,965
- Depreciation -€1,405
down €1,405 (-4.0%), from €35,508 to €34,103
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 | €938,431 | €915,822 | -€22,609 | -2.4% |
| Fixed assets | 21/28 | €616,506 | €603,824 | -€12,682 | -2.1% |
| Tangible fixed assets | 22/27 | €616,506 | €603,824 | -€12,682 | -2.1% |
| Land and buildings | 22 | €615,564 | €602,986 | -€12,578 | -2.0% |
| Furniture and vehicles | 24 | €942 | €838 | -€104 | -11.0% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Current assets | 29/58 | €321,925 | €311,999 | -€9,927 | -3.1% |
| Stocks and contracts in progress | 3 | €195,945 | €103,620 | -€92,325 | -47.1% |
| Stocks | 30/36 | €88,945 | €81,947 | -€6,997 | -7.9% |
| Contracts in progress | 37 | €107,000 | €21,672 | -€85,328 | -79.7% |
| Amounts receivable within one year | 40/41 | €79,485 | €179,769 | +€100,285 | +126.2% |
| Trade receivables | 40 | €71,802 | €174,735 | +€102,933 | +143.4% |
| Other amounts receivable | 41 | €7,683 | €5,035 | -€2,648 | -34.5% |
| Cash at bank and in hand | 54/58 | €46,496 | €28,610 | -€17,886 | -38.5% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €938,431 | €915,822 | -€22,609 | -2.4% |
| Equity | 10/15 | €270,164 | €289,228 | +€19,065 | +7.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €251,572 | €270,636 | +€19,065 | +7.6% |
| Distributable reserves | 133 | €251,572 | €270,636 | +€19,065 | +7.6% |
| Amounts payable | 17/49 | €668,267 | €626,594 | -€41,673 | -6.2% |
| Amounts payable after more than one year | 17 | €226,002 | €219,439 | -€6,564 | -2.9% |
| Financial debts | 170/4 | €57,249 | €50,650 | -€6,599 | -11.5% |
| Other amounts payable | 178/9 | €168,753 | €168,788 | +€35 | 0.0% |
| Amounts payable within one year | 42/48 | €429,349 | €394,785 | -€34,564 | -8.1% |
| Current portion of amounts payable after more than one year | 42 | €7,885 | €6,599 | -€1,286 | -16.3% |
| Financial debts | 43 | €360,000 | €330,000 | -€30,000 | -8.3% |
| Credit institutions | 430/8 | €360,000 | €330,000 | -€30,000 | -8.3% |
| Trade debts | 44 | €40,382 | €28,102 | -€12,280 | -30.4% |
| Suppliers | 440/4 | €40,382 | €28,102 | -€12,280 | -30.4% |
| Advances received on contracts in progress | 46 | €61 | €849 | +€788 | +1292.3% |
| Taxes, remuneration and social security | 45 | €21,021 | €29,234 | +€8,214 | +39.1% |
| Taxes | 450/3 | €16,521 | €24,825 | +€8,303 | +50.3% |
| Remuneration and social security | 454/9 | €4,499 | €4,409 | -€90 | -2.0% |
| Accrued charges and deferred income | 492/3 | €12,916 | €12,370 | -€546 | -4.2% |
| Remuneration, social security and pensions | 62 | €54,002 | €50,060 | -€3,942 | -7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,508 | €34,103 | -€1,405 | -4.0% |
| Other operating charges | 640/8 | €1,487 | €1,426 | -€61 | -4.1% |
| Gross operating margin | 9900 | €140,521 | €131,947 | -€8,574 | -6.1% |
| Operating profit (loss) | 9901 | €49,525 | €46,359 | -€3,165 | -6.4% |
| Financial income | 75/76B | €256 | €183 | -€73 | -28.5% |
| Recurring financial income | 75 | €256 | €183 | -€73 | -28.5% |
| Financial charges | 65/66B | €31,175 | €22,512 | -€8,662 | -27.8% |
| Recurring financial charges | 65 | €31,175 | €22,512 | -€8,662 | -27.8% |
| Profit (loss) for the period before taxes | 9903 | €18,606 | €24,030 | +€5,424 | +29.2% |
| Income taxes | 67/77 | €2,317 | €4,965 | +€2,648 | +114.3% |
| Profit (loss) for the period | 9904 | €16,289 | €19,065 | +€2,776 | +17.0% |
| Profit (loss) for the period to be appropriated | 9905 | €16,289 | €19,065 | +€2,776 | +17.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.