FLJ Project: 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.
FLJ Project
Largest movements
- Stocks and contracts +€200,526
up €200,526 (+62.9%), from €318,947 to €519,473
of which Contracts in progress: +€216,745
- Cash +€40,401
up €40,401 (+110.5%), from €36,567 to €76,968
mainly Advances received (+€191,145) and Short-term financial debts (+€55,000)
- Intangible fixed assets -€26,699
down €26,699 (-12.5%), from €214,249 to €187,550
- Receivables within one year -€11,715
down €11,715 (-11.5%), from €102,016 to €90,301
of which Other amounts receivable: -€6,329
- Advances received +€191,145
up €191,145 (+121.4%), from €157,396 to €348,541
- Short-term financial debts +€55,000
new in 2025: €55,000
- Other debts -€44,985
down €44,985 (-17.6%), from €255,653 to €210,669
- Tax, wage and social debts +€23,865
up €23,865 (+89.7%), from €26,607 to €50,472
of which Taxes: +€12,500
- Debts after one year -€20,803
down €20,803 (-18.1%), from €114,650 to €93,847
- Gross operating margin -€58,888
down €58,888 (-19.3%), from €305,230 to €246,343
- Staff costs -€38,798
down €38,798 (-17.4%), from €223,516 to €184,717
- Depreciation -€12,851
down €12,851 (-31.4%), from €40,951 to €28,100
- Taxes +€12,528
new in 2025: €12,528
- Financial charges -€5,805
down €5,805 (-48.3%), from €12,020 to €6,215
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 | €677,572 | €883,445 | +€205,873 | +30.4% |
| Fixed assets | 21/28 | €218,149 | €187,550 | -€30,599 | -14.0% |
| Intangible fixed assets | 21 | €214,249 | €187,550 | -€26,699 | -12.5% |
| Tangible fixed assets | 22/27 | €3,900 | €0 | -€3,900 | -100.0% |
| Plant, machinery and equipment | 23 | €525 | €0 | -€525 | -100.0% |
| Furniture and vehicles | 24 | €3,375 | €0 | -€3,375 | -100.0% |
| Current assets | 29/58 | €459,423 | €695,895 | +€236,472 | +51.5% |
| Stocks and contracts in progress | 3 | €318,947 | €519,473 | +€200,526 | +62.9% |
| Stocks | 30/36 | €77,339 | €61,120 | -€16,219 | -21.0% |
| Contracts in progress | 37 | €241,608 | €458,353 | +€216,745 | +89.7% |
| Amounts receivable within one year | 40/41 | €102,016 | €90,301 | -€11,715 | -11.5% |
| Trade receivables | 40 | €95,479 | €90,092 | -€5,386 | -5.6% |
| Other amounts receivable | 41 | €6,537 | €209 | -€6,329 | -96.8% |
| Cash at bank and in hand | 54/58 | €36,567 | €76,968 | +€40,401 | +110.5% |
| Deferred charges and accrued income | 490/1 | €1,893 | €9,153 | +€7,260 | +383.5% |
| Total equity and liabilities | 10/49 | €677,572 | €883,445 | +€205,873 | +30.4% |
| Equity | 10/15 | €30,849 | €42,337 | +€11,487 | +37.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,849 | €39,337 | +€11,487 | +41.2% |
| Amounts payable | 17/49 | €646,723 | €841,108 | +€194,385 | +30.1% |
| Amounts payable after more than one year | 17 | €114,650 | €93,847 | -€20,803 | -18.1% |
| Financial debts | 170/4 | €114,650 | €93,847 | -€20,803 | -18.1% |
| Amounts payable within one year | 42/48 | €531,635 | €743,837 | +€212,203 | +39.9% |
| Current portion of amounts payable after more than one year | 42 | €23,038 | €20,803 | -€2,235 | -9.7% |
| Financial debts | 43 | - | €55,000 | +€55,000 | |
| Credit institutions | 430/8 | - | €55,000 | +€55,000 | |
| Trade debts | 44 | €68,940 | €58,353 | -€10,587 | -15.4% |
| Suppliers | 440/4 | €68,940 | €58,353 | -€10,587 | -15.4% |
| Advances received on contracts in progress | 46 | €157,396 | €348,541 | +€191,145 | +121.4% |
| Taxes, remuneration and social security | 45 | €26,607 | €50,472 | +€23,865 | +89.7% |
| Taxes | 450/3 | €738 | €13,238 | +€12,500 | +1693.8% |
| Remuneration and social security | 454/9 | €25,869 | €37,234 | +€11,366 | +43.9% |
| Other amounts payable | 47/48 | €255,653 | €210,669 | -€44,985 | -17.6% |
| Accrued charges and deferred income | 492/3 | €439 | €3,424 | +€2,985 | +680.2% |
| Remuneration, social security and pensions | 62 | €223,516 | €184,717 | -€38,798 | -17.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,951 | €28,100 | -€12,851 | -31.4% |
| Other operating charges | 640/8 | €940 | €819 | -€122 | -12.9% |
| Non-recurring operating charges | 66A | - | €2,689 | +€2,689 | |
| Gross operating margin | 9900 | €305,230 | €246,343 | -€58,888 | -19.3% |
| Operating profit (loss) | 9901 | €39,824 | €30,018 | -€9,806 | -24.6% |
| Financial income | 75/76B | €46 | €213 | +€167 | +367.0% |
| Recurring financial income | 75 | €46 | €213 | +€167 | +367.0% |
| Financial charges | 65/66B | €12,020 | €6,215 | -€5,805 | -48.3% |
| Recurring financial charges | 65 | €12,020 | €6,215 | -€5,805 | -48.3% |
| Profit (loss) for the period before taxes | 9903 | €27,849 | €24,016 | -€3,834 | -13.8% |
| Income taxes | 67/77 | - | €12,528 | +€12,528 | |
| Profit (loss) for the period | 9904 | €27,849 | €11,487 | -€16,362 | -58.8% |
| Profit (loss) for the period to be appropriated | 9905 | €27,849 | €11,487 | -€16,362 | -58.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.