FLM: 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.
FLM
Largest movements
- Tangible fixed assets -€21,684
down €21,684 (-5.7%), from €379,885 to €358,201
of which Land and buildings: -€11,667
- Other debts +€30,363
up €30,363 (+35.3%), from €86,048 to €116,411
- Profit (loss) carried forward -€28,692
down €28,692 (-33.0%), from €86,892 to €58,200
- Debts after one year -€17,927
down €17,927 (-6.0%), from €299,286 to €281,359
- Taxes +€3,224
up €3,224 (+19.5%), from €16,551 to €19,775
- Depreciation +€1,766
up €1,766 (+8.0%), from €21,993 to €23,758
- Gross operating margin +€1,451
up €1,451 (+1.4%), from €103,546 to €104,997
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 | €580,018 | €565,028 | -€14,990 | -2.6% |
| Formation expenses | 20 | €42,599 | €40,959 | -€1,640 | -3.8% |
| Fixed assets | 21/28 | €417,449 | €395,765 | -€21,684 | -5.2% |
| Tangible fixed assets | 22/27 | €379,885 | €358,201 | -€21,684 | -5.7% |
| Land and buildings | 22 | €303,050 | €291,383 | -€11,667 | -3.8% |
| Furniture and vehicles | 24 | €4,604 | €3,855 | -€749 | -16.3% |
| Other tangible fixed assets | 26 | €72,231 | €62,962 | -€9,269 | -12.8% |
| Financial fixed assets | 28 | €37,564 | €37,564 | = | 0.0% |
| Current assets | 29/58 | €119,970 | €128,304 | +€8,334 | +6.9% |
| Amounts receivable within one year | 40/41 | €841 | €5,445 | +€4,604 | +547.2% |
| Trade receivables | 40 | - | €5,445 | +€5,445 | |
| Other amounts receivable | 41 | €841 | - | -€841 | |
| Cash at bank and in hand | 54/58 | €118,548 | €120,778 | +€2,231 | +1.9% |
| Deferred charges and accrued income | 490/1 | €581 | €2,081 | +€1,500 | +258.2% |
| Total equity and liabilities | 10/49 | €580,018 | €565,028 | -€14,990 | -2.6% |
| Equity | 10/15 | €107,352 | €78,660 | -€28,692 | -26.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €86,892 | €58,200 | -€28,692 | -33.0% |
| Amounts payable | 17/49 | €472,666 | €486,368 | +€13,702 | +2.9% |
| Amounts payable after more than one year | 17 | €299,286 | €281,359 | -€17,927 | -6.0% |
| Financial debts | 170/4 | €299,286 | €281,359 | -€17,927 | -6.0% |
| Amounts payable within one year | 42/48 | €172,969 | €204,620 | +€31,652 | +18.3% |
| Current portion of amounts payable after more than one year | 42 | €19,120 | €19,409 | +€289 | +1.5% |
| Trade debts | 44 | €2,475 | €3,914 | +€1,439 | +58.1% |
| Suppliers | 440/4 | €2,475 | €3,914 | +€1,439 | +58.1% |
| Taxes, remuneration and social security | 45 | €65,325 | €64,886 | -€438 | -0.7% |
| Taxes | 450/3 | €64,625 | €64,886 | +€262 | +0.4% |
| Remuneration and social security | 454/9 | €700 | - | -€700 | |
| Other amounts payable | 47/48 | €86,048 | €116,411 | +€30,363 | +35.3% |
| Accrued charges and deferred income | 492/3 | €411 | €388 | -€23 | -5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,993 | €23,758 | +€1,766 | +8.0% |
| Other operating charges | 640/8 | €2,572 | €1,834 | -€739 | -28.7% |
| Non-recurring operating charges | 66A | - | €258 | +€258 | |
| Gross operating margin | 9900 | €103,546 | €104,997 | +€1,451 | +1.4% |
| Operating profit (loss) | 9901 | €78,981 | €79,147 | +€165 | +0.2% |
| Financial charges | 65/66B | €8,274 | €8,064 | -€210 | -2.5% |
| Recurring financial charges | 65 | €8,274 | €8,064 | -€210 | -2.5% |
| Profit (loss) for the period before taxes | 9903 | €70,708 | €71,083 | +€375 | +0.5% |
| Income taxes | 67/77 | €16,551 | €19,775 | +€3,224 | +19.5% |
| Profit (loss) for the period | 9904 | €54,157 | €51,308 | -€2,849 | -5.3% |
| Profit (loss) for the period to be appropriated | 9905 | €54,157 | €51,308 | -€2,849 | -5.3% |
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 10 October 2026 via checked.be.