FLIPSE & PARTNERS: 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.
FLIPSE & PARTNERS
Largest movements
- Receivables within one year +€123,147
up €123,147 (+118%), from €104,211 to €227,358
of which Trade receivables: +€95,577
- Tangible fixed assets -€42,030
down €42,030 (-43.8%), from €95,929 to €53,899
of which Furniture and vehicles: -€36,634
- Cash -€19,827
down €19,827 (-42.0%), from €47,163 to €27,336
mainly Receivables within one year (-€123,147) and Net result for the year (-€120,776)
- Trade debts +€135,179
up €135,179 (+7,744%), from €1,746 to €136,925
- Profit (loss) carried forward -€120,776
down €120,776 (-166%), from -€72,892 to -€193,668
- Advances received +€72,765
up €72,765 (+134%), from €54,280 to €127,045
- Debts after one year -€15,377
down €15,377 (-33.7%), from €45,679 to €30,302
- Current portion of long-term debt -€5,406
down €5,406 (-26.0%), from €20,783 to €15,377
- Gross operating margin -€44,270
down €44,270 (-152%), from -€29,042 to -€73,311
- Depreciation -€2,220
down €2,220 (-5.0%), from €44,730 to €42,510
- Financial charges +€1,582
up €1,582 (+49.1%), from €3,220 to €4,802
- Financial income +€1,287
up €1,287 (+426%), from €302 to €1,589
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 | €293,643 | €357,754 | +€64,111 | +21.8% |
| Fixed assets | 21/28 | €95,929 | €53,899 | -€42,030 | -43.8% |
| Tangible fixed assets | 22/27 | €95,929 | €53,899 | -€42,030 | -43.8% |
| Land and buildings | 22 | €128 | - | -€128 | |
| Plant, machinery and equipment | 23 | €7,290 | €4,858 | -€2,432 | -33.4% |
| Furniture and vehicles | 24 | €70,240 | €33,606 | -€36,634 | -52.2% |
| Other tangible fixed assets | 26 | €18,270 | €15,434 | -€2,836 | -15.5% |
| Current assets | 29/58 | €197,714 | €303,855 | +€106,140 | +53.7% |
| Stocks and contracts in progress | 3 | €6,948 | €6,793 | -€155 | -2.2% |
| Stocks | 30/36 | €6,948 | €6,793 | -€155 | -2.2% |
| Amounts receivable within one year | 40/41 | €104,211 | €227,358 | +€123,147 | +118% |
| Trade receivables | 40 | €87,717 | €183,294 | +€95,577 | +109% |
| Other amounts receivable | 41 | €16,494 | €44,064 | +€27,570 | +167% |
| Current investments | 50/53 | €39,000 | €39,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €47,163 | €27,336 | -€19,827 | -42.0% |
| Deferred charges and accrued income | 490/1 | €392 | €3,367 | +€2,975 | +759% |
| Total equity and liabilities | 10/49 | €293,643 | €357,754 | +€64,111 | +21.8% |
| Equity | 10/15 | €154,168 | €33,392 | -€120,776 | -78.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €220,860 | €220,860 | = | 0.0% |
| Distributable reserves | 133 | €220,860 | €220,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€72,892 | -€193,668 | -€120,776 | -166% |
| Amounts payable | 17/49 | €139,475 | €324,362 | +€184,887 | +133% |
| Amounts payable after more than one year | 17 | €45,679 | €30,302 | -€15,377 | -33.7% |
| Financial debts | 170/4 | €45,679 | €30,302 | -€15,377 | -33.7% |
| Amounts payable within one year | 42/48 | €93,582 | €293,842 | +€200,260 | +214% |
| Current portion of amounts payable after more than one year | 42 | €20,783 | €15,377 | -€5,406 | -26.0% |
| Trade debts | 44 | €1,746 | €136,925 | +€135,179 | +7,744% |
| Suppliers | 440/4 | €1,746 | €136,925 | +€135,179 | +7,744% |
| Advances received on contracts in progress | 46 | €54,280 | €127,045 | +€72,765 | +134% |
| Taxes, remuneration and social security | 45 | €8,673 | €4,993 | -€3,680 | -42.4% |
| Taxes | 450/3 | €4,104 | - | -€4,104 | |
| Remuneration and social security | 454/9 | €4,569 | €4,993 | +€425 | +9.3% |
| Other amounts payable | 47/48 | €8,101 | €9,502 | +€1,401 | +17.3% |
| Accrued charges and deferred income | 492/3 | €214 | €218 | +€4 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,730 | €42,510 | -€2,220 | -5.0% |
| Other operating charges | 640/8 | €1,839 | €1,381 | -€458 | -24.9% |
| Gross operating margin | 9900 | -€29,042 | -€73,311 | -€44,270 | -152% |
| Operating profit (loss) | 9901 | -€75,610 | -€117,202 | -€41,592 | -55.0% |
| Financial income | 75/76B | €302 | €1,589 | +€1,287 | +426% |
| Recurring financial income | 75 | €302 | €1,589 | +€1,287 | +426% |
| Financial charges | 65/66B | €3,220 | €4,802 | +€1,582 | +49.1% |
| Recurring financial charges | 65 | €3,220 | €4,802 | +€1,582 | +49.1% |
| Profit (loss) for the period before taxes | 9903 | -€78,528 | -€120,415 | -€41,887 | -53.3% |
| Income taxes | 67/77 | €314 | €361 | +€47 | +15.0% |
| Profit (loss) for the period | 9904 | -€78,842 | -€120,776 | -€41,934 | -53.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€78,842 | -€120,776 | -€41,934 | -53.2% |
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 15 October 2026 via checked.be.