FLN Management: 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.
FLN Management
Largest movements
- Current investments -€200,000
down €200,000 (-57.1%), from €350,000 to €150,000
- Cash -€81,535
down €81,535 (-64.8%), from €125,779 to €44,244
mainly Contributions, distributions and other (-€243,708) and Investment in fixed assets (net) (-€39,555)
- Receivables after one year +€16,939
up €16,939 (+5.9%), from €286,510 to €303,450
- Tangible fixed assets +€12,110
up €12,110 (+11.0%), from €109,675 to €121,785
of which Furniture and vehicles: +€12,593
- Reserves -€243,708
down €243,708 (-30.5%), from €798,367 to €554,659
- Debts after one year -€16,847
down €16,847 (-24.9%), from €67,683 to €50,835
- Financial income +€17,286
up €17,286 (+208%), from €8,303 to €25,589
- Staff costs +€14,484
new in 2025: €14,484
- Depreciation +€14,477
up €14,477 (+112%), from €12,968 to €27,445
- Financial charges +€628
up €628 (+23.2%), from €2,705 to €3,333
- Gross operating margin +€584
up €584 (+4.9%), from €11,809 to €12,393
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 | €911,761 | €643,818 | -€267,943 | -29.4% |
| Fixed assets | 21/28 | €109,675 | €121,785 | +€12,110 | +11.0% |
| Tangible fixed assets | 22/27 | €109,675 | €121,785 | +€12,110 | +11.0% |
| Plant, machinery and equipment | 23 | €3,579 | €2,813 | -€766 | -21.4% |
| Furniture and vehicles | 24 | €93,507 | €106,100 | +€12,593 | +13.5% |
| Other tangible fixed assets | 26 | €12,590 | €12,872 | +€283 | +2.2% |
| Current assets | 29/58 | €802,086 | €522,033 | -€280,053 | -34.9% |
| Amounts receivable after more than one year | 29 | €286,510 | €303,450 | +€16,939 | +5.9% |
| Other amounts receivable | 291 | €286,510 | €303,450 | +€16,939 | +5.9% |
| Amounts receivable within one year | 40/41 | €30,617 | €22,558 | -€8,059 | -26.3% |
| Trade receivables | 40 | €22,657 | €12,845 | -€9,812 | -43.3% |
| Other amounts receivable | 41 | €7,960 | €9,713 | +€1,753 | +22.0% |
| Current investments | 50/53 | €350,000 | €150,000 | -€200,000 | -57.1% |
| Cash at bank and in hand | 54/58 | €125,779 | €44,244 | -€81,535 | -64.8% |
| Deferred charges and accrued income | 490/1 | €9,180 | €1,781 | -€7,399 | -80.6% |
| Total equity and liabilities | 10/49 | €911,761 | €643,818 | -€267,943 | -29.4% |
| Equity | 10/15 | €810,767 | €558,369 | -€252,398 | -31.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €798,367 | €554,659 | -€243,708 | -30.5% |
| Distributable reserves | 133 | €798,367 | €554,659 | -€243,708 | -30.5% |
| Profit (loss) carried forward | 14 | - | -€8,690 | -€8,690 | |
| Amounts payable | 17/49 | €100,994 | €85,449 | -€15,546 | -15.4% |
| Amounts payable after more than one year | 17 | €67,683 | €50,835 | -€16,847 | -24.9% |
| Financial debts | 170/4 | €67,683 | €50,835 | -€16,847 | -24.9% |
| Amounts payable within one year | 42/48 | €33,054 | €34,600 | +€1,545 | +4.7% |
| Current portion of amounts payable after more than one year | 42 | €19,152 | €18,349 | -€803 | -4.2% |
| Trade debts | 44 | €4,027 | €5,296 | +€1,269 | +31.5% |
| Suppliers | 440/4 | €4,027 | €5,296 | +€1,269 | +31.5% |
| Taxes, remuneration and social security | 45 | €6,750 | €10,955 | +€4,205 | +62.3% |
| Taxes | 450/3 | €6,750 | €8,810 | +€2,061 | +30.5% |
| Remuneration and social security | 454/9 | - | €2,144 | +€2,144 | |
| Other amounts payable | 47/48 | €3,126 | €0 | -€3,126 | -100% |
| Accrued charges and deferred income | 492/3 | €258 | €14 | -€244 | -94.6% |
| Remuneration, social security and pensions | 62 | - | €14,484 | +€14,484 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,968 | €27,445 | +€14,477 | +112% |
| Other operating charges | 640/8 | €607 | €1,066 | +€459 | +75.6% |
| Gross operating margin | 9900 | €11,809 | €12,393 | +€584 | +4.9% |
| Operating profit (loss) | 9901 | -€1,767 | -€30,603 | -€28,836 | -1,632% |
| Financial income | 75/76B | €8,303 | €25,589 | +€17,286 | +208% |
| Recurring financial income | 75 | €8,303 | €25,589 | +€17,286 | +208% |
| Financial charges | 65/66B | €2,705 | €3,333 | +€628 | +23.2% |
| Recurring financial charges | 65 | €2,705 | €3,333 | +€628 | +23.2% |
| Profit (loss) for the period before taxes | 9903 | €3,830 | -€8,346 | -€12,177 | |
| Income taxes | 67/77 | €896 | €344 | -€552 | -61.6% |
| Profit (loss) for the period | 9904 | €2,935 | -€8,690 | -€11,625 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,935 | -€8,690 | -€11,625 |
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 28 October 2026 via checked.be.