Flowell International: 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.
What changed
Flowell International
NACE 46.120, Wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€196,034
2024 · €878,907-€682,873
Equity
€1.4m
2024 · €1.2m+€196,034
Cash
€329,925
2024 · €107,106+€222,819
Balance sheet total
€4.1m
2024 · €4.2m-€122,637
Largest movements
Assets
- Current investments -€607,432
no longer reported in 2025 (was €607,432)
- Tangible fixed assets +€585,539
up €585,539 (+203%), from €288,360 to €873,899
of which Assets under construction and advance payments: +€645,328
- Receivables within one year -€300,811
down €300,811 (-18.2%), from €1.7m to €1.4m
of which Trade receivables: -€444,908
- Cash +€222,819
up €222,819 (+208%), from €107,106 to €329,925
mainly Current investments (+€607,432) and Receivables within one year (+€300,811)
Equity and liabilities
- Short-term financial debts -€204,820
down €204,820 (-23.6%), from €868,645 to €663,825
- Profit (loss) carried forward +€196,034
up €196,034 (+19.0%), from -€1.0m to -€834,717
- Debts after one year -€81,102
down €81,102 (-14.4%), from €564,166 to €483,064
- Trade debts -€55,583
down €55,583 (-7.4%), from €754,903 to €699,319
Income statement
- Financial income -€1.4m
down €1.4m (-99.1%), from €1.4m to €12,313
of which Non-recurring financial income: -€1.4m
- Gross operating margin +€375,589
up €375,589 (+31.0%), from €1.2m to €1.6m
- Turnover +€244,080
up €244,080 (+6.0%), from €4.1m to €4.3m
- Purchases and services -€131,509
down €131,509 (-4.6%), from €2.9m to €2.8m
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.
Result 2024
€878,907
Gross operating margin
+€375,589
Staff costs
-€40,476
Depreciation
+€20,212
Other operating charges
-€24,127
Financial income
-€1.4m
Financial charges
+€34,787
Taxes
+€1,365
Deferred taxes and other
+€350,416
Result 2025
€196,034
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€581,438
Investment
-€77,858
Financing
-€280,761
Cash 2024
€107,106
From operations (derived)
+€581,438
Net result for the year
+€196,034
Depreciation
+€125,748
Stocks and contracts
+€10,985
Receivables within one year
+€300,811
Deferred charges and accrued income
-€14,230
Trade debts
-€55,583
Tax, wage and social debts
-€22,423
Other debts
+€2,260
Accrued charges and deferred income
+€37,835
Investment (derived)
-€77,858
Investment in fixed assets (net)
-€685,290
Current investments
+€607,432
Financing
-€280,761
Debts after one year
-€81,102
Current portion of long-term debt
+€5,161
Short-term financial debts
-€204,820
Cash 2025
€329,925
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,223,130 | €4,100,493 | -€122,637 | -2.9% |
| Fixed assets | 21/28 | €338,398 | €897,939 | +€559,541 | +165% |
| Intangible fixed assets | 21 | €36,000 | €16,107 | -€19,892 | -55.3% |
| Tangible fixed assets | 22/27 | €288,360 | €873,899 | +€585,539 | +203% |
| Land and buildings | 22 | €16,554 | €47,900 | +€31,346 | +189% |
| Plant, machinery and equipment | 23 | €162,972 | €85,102 | -€77,869 | -47.8% |
| Furniture and vehicles | 24 | €9,083 | €16,112 | +€7,029 | +77.4% |
| Leasing and similar rights | 25 | €99,751 | €79,456 | -€20,295 | -20.3% |
| Assets under construction and advance payments | 27 | - | €645,328 | +€645,328 | |
| Financial fixed assets | 28 | €14,038 | €7,933 | -€6,105 | -43.5% |
| Current assets | 29/58 | €3,884,733 | €3,202,554 | -€682,179 | -17.6% |
| Stocks and contracts in progress | 3 | €1,498,402 | €1,487,416 | -€10,985 | -0.7% |
| Stocks | 30/36 | €1,498,402 | €1,487,416 | -€10,985 | -0.7% |
| Amounts receivable within one year | 40/41 | €1,656,509 | €1,355,698 | -€300,811 | -18.2% |
| Trade receivables | 40 | €1,293,079 | €848,171 | -€444,908 | -34.4% |
| Other amounts receivable | 41 | €363,430 | €507,527 | +€144,097 | +39.6% |
| Current investments | 50/53 | €607,432 | - | -€607,432 | |
| Cash at bank and in hand | 54/58 | €107,106 | €329,925 | +€222,819 | +208% |
| Deferred charges and accrued income | 490/1 | €15,285 | €29,515 | +€14,230 | +93.1% |
| Total equity and liabilities | 10/49 | €4,223,130 | €4,100,493 | -€122,637 | -2.9% |
| Equity | 10/15 | €1,182,378 | €1,378,412 | +€196,034 | +16.6% |
| Contributions | 10/11 | €855,980 | €855,980 | = | 0.0% |
| Capital | 10 | €855,980 | €855,980 | = | 0.0% |
| Issued capital | 100 | €855,980 | €855,980 | = | 0.0% |
| Reserves | 13 | €1,357,149 | €1,357,149 | = | 0.0% |
| Non-distributable reserves | 130/1 | €24,600 | €24,600 | = | 0.0% |
| Legal reserve | 130 | €24,600 | €24,600 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,061,613 | €1,061,613 | = | 0.0% |
| Distributable reserves | 133 | €270,936 | €270,936 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,030,751 | -€834,717 | +€196,034 | +19.0% |
| Provisions and deferred taxes | 16 | €350,416 | €350,416 | = | 0.0% |
| Deferred taxes | 168 | €350,416 | €350,416 | = | 0.0% |
| Amounts payable | 17/49 | €2,690,337 | €2,371,665 | -€318,672 | -11.8% |
| Amounts payable after more than one year | 17 | €564,166 | €483,064 | -€81,102 | -14.4% |
| Financial debts | 170/4 | €564,166 | €483,064 | -€81,102 | -14.4% |
| Amounts payable within one year | 42/48 | €2,126,171 | €1,850,766 | -€275,405 | -13.0% |
| Current portion of amounts payable after more than one year | 42 | €221,341 | €226,502 | +€5,161 | +2.3% |
| Financial debts | 43 | €868,645 | €663,825 | -€204,820 | -23.6% |
| Credit institutions | 430/8 | €868,645 | €663,825 | -€204,820 | -23.6% |
| Trade debts | 44 | €754,903 | €699,319 | -€55,583 | -7.4% |
| Suppliers | 440/4 | €754,903 | €699,319 | -€55,583 | -7.4% |
| Taxes, remuneration and social security | 45 | €163,283 | €140,860 | -€22,423 | -13.7% |
| Taxes | 450/3 | €57,876 | €29,685 | -€28,191 | -48.7% |
| Remuneration and social security | 454/9 | €105,407 | €111,175 | +€5,768 | +5.5% |
| Other amounts payable | 47/48 | €118,000 | €120,260 | +€2,260 | +1.9% |
| Accrued charges and deferred income | 492/3 | - | €37,835 | +€37,835 | |
| Turnover | 70 | €4,100,002 | €4,344,082 | +€244,080 | +6.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €2,888,430 | €2,756,921 | -€131,509 | -4.6% |
| Remuneration, social security and pensions | 62 | €1,111,181 | €1,151,657 | +€40,476 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €145,960 | €125,748 | -€20,212 | -13.8% |
| Other operating charges | 640/8 | €33,315 | €57,442 | +€24,127 | +72.4% |
| Gross operating margin | 9900 | €1,211,571 | €1,587,161 | +€375,589 | +31.0% |
| Operating profit (loss) | 9901 | -€78,884 | €252,314 | +€331,198 | |
| Financial income | 75/76B | €1,412,951 | €12,313 | -€1.4m | -99.1% |
| Recurring financial income | 75 | €9,535 | €11,350 | +€1,815 | +19.0% |
| Non-recurring financial income | 76B | €1,403,416 | €963 | -€1.4m | -99.9% |
| Financial charges | 65/66B | €102,373 | €67,586 | -€34,787 | -34.0% |
| Recurring financial charges | 65 | €72,213 | €66,836 | -€5,377 | -7.4% |
| Non-recurring financial charges | 66B | €30,159 | €750 | -€29,409 | -97.5% |
| Profit (loss) for the period before taxes | 9903 | €1,231,694 | €197,040 | -€1.0m | -84.0% |
| Transfer to deferred taxes | 680 | €350,416 | - | -€350,416 | |
| Income taxes | 67/77 | €2,371 | €1,006 | -€1,365 | -57.6% |
| Profit (loss) for the period | 9904 | €878,907 | €196,034 | -€682,873 | -77.7% |
| Transfer to tax-exempt reserves | 689 | €1,051,247 | - | -€1.1m | |
| Profit (loss) for the period to be appropriated | 9905 | -€172,340 | €196,034 | +€368,374 |
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 29 October 2026 via checked.be.