FLINE: 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.
FLINE
Largest movements
- Stocks and contracts -€208,200
down €208,200 (-59.2%), from €351,465 to €143,265
- Tangible fixed assets -€124,590
down €124,590 (-6.9%), from €1.8m to €1.7m
of which Leasing and similar rights: -€92,527
- Receivables within one year +€101,330
up €101,330 (+48.4%), from €209,405 to €310,735
of which Other amounts receivable: +€73,850
- Cash +€61,464
up €61,464 (+38.9%), from €157,937 to €219,401
mainly Depreciation (+€552,056) and Debts after one year (+€453,330)
- Trade debts -€744,715
down €744,715 (-91.3%), from €815,442 to €70,727
- Debts after one year +€453,330
up €453,330 (+32.8%), from €1.4m to €1.8m
- Profit (loss) carried forward -€229,095
down €229,095 (-24.1%), from -€951,819 to -€1.2m
- Contributions +€200,000
up €200,000 (+16.4%), from €1.2m to €1.4m
- Accrued charges and deferred income +€135,165
new in 2025: €135,165
- Gross operating margin +€516,036
up €516,036 (+163%), from €315,999 to €832,035
- Depreciation +€161,834
up €161,834 (+41.5%), from €390,222 to €552,056
- Staff costs +€79,541
up €79,541 (+26.4%), from €300,741 to €380,283
- Financial charges +€59,352
up €59,352 (+90.1%), from €65,886 to €125,238
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 | €2,803,427 | €2,640,051 | -€163,376 | -5.8% |
| Formation expenses | 20 | €1,823 | €218 | -€1,605 | -88.0% |
| Fixed assets | 21/28 | €2,056,246 | €1,940,659 | -€115,587 | -5.6% |
| Intangible fixed assets | 21 | €239,897 | €248,200 | +€8,302 | +3.5% |
| Tangible fixed assets | 22/27 | €1,816,349 | €1,691,759 | -€124,590 | -6.9% |
| Plant, machinery and equipment | 23 | €2,596 | €6,276 | +€3,680 | +142% |
| Furniture and vehicles | 24 | €91,724 | €76,475 | -€15,249 | -16.6% |
| Leasing and similar rights | 25 | €373,628 | €281,101 | -€92,527 | -24.8% |
| Other tangible fixed assets | 26 | €1,348,401 | €1,327,907 | -€20,494 | -1.5% |
| Financial fixed assets | 28 | - | €700 | +€700 | |
| Current assets | 29/58 | €745,358 | €699,174 | -€46,184 | -6.2% |
| Stocks and contracts in progress | 3 | €351,465 | €143,265 | -€208,200 | -59.2% |
| Stocks | 30/36 | €351,465 | €143,265 | -€208,200 | -59.2% |
| Amounts receivable within one year | 40/41 | €209,405 | €310,735 | +€101,330 | +48.4% |
| Trade receivables | 40 | €78,113 | €105,593 | +€27,480 | +35.2% |
| Other amounts receivable | 41 | €131,293 | €205,142 | +€73,850 | +56.2% |
| Cash at bank and in hand | 54/58 | €157,937 | €219,401 | +€61,464 | +38.9% |
| Deferred charges and accrued income | 490/1 | €26,550 | €25,772 | -€778 | -2.9% |
| Total equity and liabilities | 10/49 | €2,803,427 | €2,640,051 | -€163,376 | -5.8% |
| Equity | 10/15 | €268,181 | €239,087 | -€29,095 | -10.8% |
| Contributions | 10/11 | €1,220,000 | €1,420,000 | +€200,000 | +16.4% |
| Profit (loss) carried forward | 14 | -€951,819 | -€1,180,913 | -€229,095 | -24.1% |
| Amounts payable | 17/49 | €2,535,246 | €2,400,964 | -€134,282 | -5.3% |
| Amounts payable after more than one year | 17 | €1,381,726 | €1,835,056 | +€453,330 | +32.8% |
| Financial debts | 170/4 | €1,381,726 | €1,835,056 | +€453,330 | +32.8% |
| Amounts payable within one year | 42/48 | €1,153,520 | €430,743 | -€722,777 | -62.7% |
| Current portion of amounts payable after more than one year | 42 | €163,613 | €171,670 | +€8,057 | +4.9% |
| Trade debts | 44 | €815,442 | €70,727 | -€744,715 | -91.3% |
| Suppliers | 440/4 | €815,442 | €70,727 | -€744,715 | -91.3% |
| Taxes, remuneration and social security | 45 | €53,641 | €70,360 | +€16,719 | +31.2% |
| Taxes | 450/3 | €105 | €11,406 | +€11,301 | +10,775% |
| Remuneration and social security | 454/9 | €53,536 | €58,954 | +€5,418 | +10.1% |
| Other amounts payable | 47/48 | €120,824 | €117,987 | -€2,838 | -2.3% |
| Accrued charges and deferred income | 492/3 | - | €135,165 | +€135,165 | |
| Remuneration, social security and pensions | 62 | €300,741 | €380,283 | +€79,541 | +26.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €390,222 | €552,056 | +€161,834 | +41.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €450 | +€450 | |
| Other operating charges | 640/8 | €2,888 | €2,882 | -€6 | -0.2% |
| Non-recurring operating charges | 66A | €47,561 | - | -€47,561 | |
| Gross operating margin | 9900 | €315,999 | €832,035 | +€516,036 | +163% |
| Operating profit (loss) | 9901 | -€425,413 | -€103,635 | +€321,778 | +75.6% |
| Financial income | 75/76B | €54 | - | -€54 | |
| Recurring financial income | 75 | €54 | - | -€54 | |
| Financial charges | 65/66B | €65,886 | €125,238 | +€59,352 | +90.1% |
| Recurring financial charges | 65 | €65,886 | €125,238 | +€59,352 | +90.1% |
| Profit (loss) for the period before taxes | 9903 | -€491,246 | -€228,873 | +€262,372 | +53.4% |
| Income taxes | 67/77 | €129 | €221 | +€93 | +72.0% |
| Profit (loss) for the period | 9904 | -€491,374 | -€229,095 | +€262,280 | +53.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€491,374 | -€229,095 | +€262,280 | +53.4% |
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 25 October 2026 via checked.be.