FLIPCO: 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
FLIPCO
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€777
2024 · €346+€431
Equity
€81,357
2024 · €80,580+€777
Cash
€1,585
2024 · €1,975-€390
Balance sheet total
€225,521
2024 · €246,400-€20,879
Largest movements
Assets
- Tangible fixed assets -€18,838
down €18,838 (-7.8%), from €240,213 to €221,375
Equity and liabilities
- Debts after one year -€22,592
down €22,592 (-15.0%), from €150,723 to €128,131
Income statement
- Gross operating margin +€774
up €774 (+2.4%), from €32,719 to €33,493
- Financial charges -€604
down €604 (-12.8%), from €4,704 to €4,100
- Depreciation +€496
up €496 (+2.0%), from €25,321 to €25,816
- Taxes +€437
up €437 (+249.5%), from €175 to €612
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.
Result 2024
€346
Gross operating margin
+€774
Depreciation
-€496
Other operating charges
-€15
Financial income
-€0
Financial charges
+€604
Taxes
-€437
Result 2025
€777
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.
From operations
+€28,901
Investment
-€6,978
Financing
-€22,313
Cash 2024
€1,975
From operations (derived)
+€28,901
Net result for the year
+€777
Depreciation
+€25,816
Receivables within one year
+€1,663
Smaller working-capital items
+€3
Tax, wage and social debts
-€175
Other debts
+€1,149
Accrued charges and deferred income
-€332
Investment (derived)
-€6,978
Investment in fixed assets (net)
-€6,978
Financing
-€22,313
Debts after one year
-€22,592
Current portion of long-term debt
+€279
Cash 2025
€1,585
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €246,400 | €225,521 | -€20,879 | -8.5% |
| Fixed assets | 21/28 | €240,213 | €221,375 | -€18,838 | -7.8% |
| Tangible fixed assets | 22/27 | €240,213 | €221,375 | -€18,838 | -7.8% |
| Land and buildings | 22 | €240,213 | €221,375 | -€18,838 | -7.8% |
| Current assets | 29/58 | €6,187 | €4,146 | -€2,041 | -33.0% |
| Amounts receivable within one year | 40/41 | €3,728 | €2,065 | -€1,663 | -44.6% |
| Trade receivables | 40 | €1,107 | €1,142 | +€35 | +3.2% |
| Other amounts receivable | 41 | €2,621 | €923 | -€1,698 | -64.8% |
| Cash at bank and in hand | 54/58 | €1,975 | €1,585 | -€390 | -19.8% |
| Deferred charges and accrued income | 490/1 | €485 | €497 | +€12 | +2.5% |
| Total equity and liabilities | 10/49 | €246,400 | €225,521 | -€20,879 | -8.5% |
| Equity | 10/15 | €80,580 | €81,357 | +€777 | +1.0% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €2,558 | €3,335 | +€777 | +30.4% |
| Non-distributable reserves | 130/1 | €1,065 | €1,104 | +€39 | +3.6% |
| Legal reserve | 130 | €1,065 | €1,104 | +€39 | +3.6% |
| Distributable reserves | 133 | €1,493 | €2,231 | +€738 | +49.4% |
| Profit (loss) carried forward | 14 | €16,522 | €16,522 | = | 0.0% |
| Amounts payable | 17/49 | €165,820 | €144,164 | -€21,656 | -13.1% |
| Amounts payable after more than one year | 17 | €150,723 | €128,131 | -€22,592 | -15.0% |
| Financial debts | 170/4 | €150,723 | €128,131 | -€22,592 | -15.0% |
| Amounts payable within one year | 42/48 | €13,001 | €14,268 | +€1,267 | +9.7% |
| Current portion of amounts payable after more than one year | 42 | €12,313 | €12,592 | +€279 | +2.3% |
| Trade debts | 44 | €513 | €528 | +€14 | +2.8% |
| Suppliers | 440/4 | €513 | €528 | +€14 | +2.8% |
| Taxes, remuneration and social security | 45 | €175 | €0 | -€175 | -100.0% |
| Taxes | 450/3 | €175 | €0 | -€175 | -100.0% |
| Other amounts payable | 47/48 | €0 | €1,149 | +€1,149 | |
| Accrued charges and deferred income | 492/3 | €2,096 | €1,765 | -€332 | -15.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,321 | €25,816 | +€496 | +2.0% |
| Other operating charges | 640/8 | €2,173 | €2,188 | +€15 | +0.7% |
| Gross operating margin | 9900 | €32,719 | €33,493 | +€774 | +2.4% |
| Operating profit (loss) | 9901 | €5,225 | €5,489 | +€264 | +5.0% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €4,704 | €4,100 | -€604 | -12.8% |
| Recurring financial charges | 65 | €4,704 | €4,100 | -€604 | -12.8% |
| Profit (loss) for the period before taxes | 9903 | €521 | €1,389 | +€867 | +166.4% |
| Income taxes | 67/77 | €175 | €612 | +€437 | +249.5% |
| Profit (loss) for the period | 9904 | €346 | €777 | +€431 | +124.3% |
| Profit (loss) for the period to be appropriated | 9905 | €346 | €777 | +€431 | +124.3% |
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 28 September 2026 via checked.be.