FLORENCE: 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.
FLORENCE
Largest movements
- Tangible fixed assets -€127,328
down €127,328 (-10.2%), from €1.3m to €1.1m
of which Furniture and vehicles: -€81,644
- Cash -€54,432
down €54,432 (-66.5%), from €81,791 to €27,359
mainly Other debts (-€111,777) and Net result for the year (-€50,961)
- Receivables within one year -€25,053
down €25,053 (-89.2%), from €28,074 to €3,021
of which Trade receivables: -€25,816
- Other debts -€111,777
down €111,777 (-21.1%), from €530,091 to €418,314
- Profit (loss) carried forward -€50,961
down €50,961 (-88.2%), from -€57,802 to -€108,763
- Debts after one year -€23,716
down €23,716 (-3.7%), from €635,810 to €612,094
- Trade debts -€21,956
down €21,956 (-45.9%), from €47,862 to €25,906
- Gross operating margin -€56,728
down €56,728 (-47.8%), from €118,784 to €62,056
- Financial charges -€39,198
down €39,198 (-58.9%), from €66,557 to €27,359
- Depreciation -€16,961
down €16,961 (-25.0%), from €67,717 to €50,756
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 | €1,379,774 | €1,171,266 | -€208,508 | -15.1% |
| Fixed assets | 21/28 | €1,250,324 | €1,122,996 | -€127,328 | -10.2% |
| Tangible fixed assets | 22/27 | €1,250,324 | €1,122,996 | -€127,328 | -10.2% |
| Land and buildings | 22 | €1,019,590 | €991,167 | -€28,424 | -2.8% |
| Plant, machinery and equipment | 23 | €148,251 | €130,991 | -€17,260 | -11.6% |
| Furniture and vehicles | 24 | €82,482 | €838 | -€81,644 | -99.0% |
| Current assets | 29/58 | €129,450 | €48,270 | -€81,180 | -62.7% |
| Stocks and contracts in progress | 3 | €17,229 | €17,134 | -€95 | -0.6% |
| Stocks | 30/36 | €17,229 | €17,134 | -€95 | -0.6% |
| Amounts receivable within one year | 40/41 | €28,074 | €3,021 | -€25,053 | -89.2% |
| Trade receivables | 40 | €27,752 | €1,936 | -€25,816 | -93.0% |
| Other amounts receivable | 41 | €322 | €1,085 | +€763 | +236.9% |
| Cash at bank and in hand | 54/58 | €81,791 | €27,359 | -€54,432 | -66.5% |
| Deferred charges and accrued income | 490/1 | €2,356 | €757 | -€1,600 | -67.9% |
| Total equity and liabilities | 10/49 | €1,379,774 | €1,171,266 | -€208,508 | -15.1% |
| Equity | 10/15 | €142,198 | €91,237 | -€50,961 | -35.8% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€57,802 | -€108,763 | -€50,961 | -88.2% |
| Amounts payable | 17/49 | €1,237,576 | €1,080,029 | -€157,547 | -12.7% |
| Amounts payable after more than one year | 17 | €635,810 | €612,094 | -€23,716 | -3.7% |
| Financial debts | 170/4 | €635,810 | €612,094 | -€23,716 | -3.7% |
| Amounts payable within one year | 42/48 | €601,767 | €467,936 | -€133,831 | -22.2% |
| Current portion of amounts payable after more than one year | 42 | €22,745 | €23,716 | +€971 | +4.3% |
| Trade debts | 44 | €47,862 | €25,906 | -€21,956 | -45.9% |
| Suppliers | 440/4 | €47,862 | €25,906 | -€21,956 | -45.9% |
| Taxes, remuneration and social security | 45 | €1,069 | - | -€1,069 | |
| Taxes | 450/3 | €1,069 | - | -€1,069 | |
| Other amounts payable | 47/48 | €530,091 | €418,314 | -€111,777 | -21.1% |
| Remuneration, social security and pensions | 62 | €176 | - | -€176 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,717 | €50,756 | -€16,961 | -25.0% |
| Other operating charges | 640/8 | €4,722 | €3,996 | -€726 | -15.4% |
| Non-recurring operating charges | 66A | €9,693 | €30,911 | +€21,218 | +218.9% |
| Gross operating margin | 9900 | €118,784 | €62,056 | -€56,728 | -47.8% |
| Operating profit (loss) | 9901 | €36,476 | -€23,608 | -€60,084 | |
| Financial income | 75/76B | €80 | €6 | -€74 | -92.4% |
| Recurring financial income | 75 | €80 | €6 | -€74 | -92.4% |
| Financial charges | 65/66B | €66,557 | €27,359 | -€39,198 | -58.9% |
| Recurring financial charges | 65 | €66,557 | €27,359 | -€39,198 | -58.9% |
| Profit (loss) for the period before taxes | 9903 | -€30,001 | -€50,961 | -€20,960 | -69.9% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€30,001 | -€50,961 | -€20,960 | -69.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,001 | -€50,961 | -€20,960 | -69.9% |
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 12 October 2026 via checked.be.