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
- Cash -€46,076
down €46,076 (-25.8%), from €178,477 to €132,401
mainly Trade debts (-€157,791) and Investment in fixed assets (net) (-€65,186)
- Receivables within one year -€33,647
down €33,647 (-84.5%), from €39,804 to €6,157
of which Trade receivables: -€31,998
- Intangible fixed assets -€25,000
down €25,000 (-11.3%), from €220,753 to €195,753
- Stocks and contracts +€13,598
up €13,598 (+11.8%), from €115,668 to €129,266
- Trade debts -€157,791
down €157,791 (-37.6%), from €419,103 to €261,311
- Debts after one year +€34,382
up €34,382 (+8.5%), from €406,600 to €440,983
- Profit (loss) carried forward +€23,239
up €23,239, from -€23,239 to €0
- Gross operating margin +€133,771
up €133,771 (+70.7%), from €189,276 to €323,048
- Depreciation +€47,706
up €47,706 (+137%), from €34,897 to €82,603
- Staff costs +€30,259
up €30,259 (+20.6%), from €146,679 to €176,937
- Financial charges +€17,973
up €17,973 (+95.6%), from €18,795 to €36,768
- Financial income +€4,689
up €4,689 (+133%), from €3,520 to €8,209
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 | €1,075,439 | €994,623 | -€80,816 | -7.5% |
| Fixed assets | 21/28 | €725,545 | €708,128 | -€17,417 | -2.4% |
| Intangible fixed assets | 21 | €220,753 | €195,753 | -€25,000 | -11.3% |
| Tangible fixed assets | 22/27 | €504,791 | €512,374 | +€7,583 | +1.5% |
| Plant, machinery and equipment | 23 | €50,411 | €47,802 | -€2,610 | -5.2% |
| Other tangible fixed assets | 26 | €454,380 | €464,573 | +€10,193 | +2.2% |
| Current assets | 29/58 | €349,894 | €286,495 | -€63,399 | -18.1% |
| Stocks and contracts in progress | 3 | €115,668 | €129,266 | +€13,598 | +11.8% |
| Stocks | 30/36 | €115,668 | €129,266 | +€13,598 | +11.8% |
| Amounts receivable within one year | 40/41 | €39,804 | €6,157 | -€33,647 | -84.5% |
| Trade receivables | 40 | €34,091 | €2,093 | -€31,998 | -93.9% |
| Other amounts receivable | 41 | €5,713 | €4,064 | -€1,649 | -28.9% |
| Cash at bank and in hand | 54/58 | €178,477 | €132,401 | -€46,076 | -25.8% |
| Deferred charges and accrued income | 490/1 | €15,945 | €18,672 | +€2,727 | +17.1% |
| Total equity and liabilities | 10/49 | €1,075,439 | €994,623 | -€80,816 | -7.5% |
| Equity | 10/15 | €26,761 | €58,577 | +€31,816 | +119% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | - | €8,577 | +€8,577 | |
| Distributable reserves | 133 | - | €8,577 | +€8,577 | |
| Profit (loss) carried forward | 14 | -€23,239 | €0 | +€23,239 | |
| Amounts payable | 17/49 | €1,048,678 | €936,046 | -€112,632 | -10.7% |
| Amounts payable after more than one year | 17 | €406,600 | €440,983 | +€34,382 | +8.5% |
| Financial debts | 170/4 | €406,600 | €440,983 | +€34,382 | +8.5% |
| Amounts payable within one year | 42/48 | €642,078 | €495,064 | -€147,014 | -22.9% |
| Current portion of amounts payable after more than one year | 42 | €94,416 | €93,355 | -€1,062 | -1.1% |
| Trade debts | 44 | €419,103 | €261,311 | -€157,791 | -37.6% |
| Suppliers | 440/4 | €419,103 | €261,311 | -€157,791 | -37.6% |
| Taxes, remuneration and social security | 45 | €25,892 | €28,677 | +€2,785 | +10.8% |
| Remuneration and social security | 454/9 | €25,892 | €28,677 | +€2,785 | +10.8% |
| Other amounts payable | 47/48 | €102,667 | €111,721 | +€9,054 | +8.8% |
| Remuneration, social security and pensions | 62 | €146,679 | €176,937 | +€30,259 | +20.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,897 | €82,603 | +€47,706 | +137% |
| Other operating charges | 640/8 | €569 | €3,132 | +€2,563 | +450% |
| Gross operating margin | 9900 | €189,276 | €323,048 | +€133,771 | +70.7% |
| Operating profit (loss) | 9901 | €7,132 | €60,375 | +€53,243 | +747% |
| Financial income | 75/76B | €3,520 | €8,209 | +€4,689 | +133% |
| Recurring financial income | 75 | €3,520 | €8,209 | +€4,689 | +133% |
| Financial charges | 65/66B | €18,795 | €36,768 | +€17,973 | +95.6% |
| Recurring financial charges | 65 | €18,795 | €36,768 | +€17,973 | +95.6% |
| Profit (loss) for the period before taxes | 9903 | -€8,143 | €31,816 | +€39,959 | |
| Profit (loss) for the period | 9904 | -€8,143 | €31,816 | +€39,959 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,143 | €31,816 | +€39,959 |
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 18 October 2026 via checked.be.