FLUCTUAT NEC MERGITUR: what changed
What changed
FLUCTUAT NEC MERGITUR
filed annual accounts (NBB)
Net result for the year
-€3,868
2024 · -€6,582+€2,714
Equity
€111,687
2024 · €115,555-€3,868
Cash
€87,254
2024 · €91,981-€4,728
Balance sheet total
€641,192
2024 · €672,353-€31,161
Largest movements
Assets
- Tangible fixed assets -€26,439
down €26,439 (-4.6%), from €580,204 to €553,765
Equity and liabilities
- Debts after one year -€23,864
down €23,864 (-8.0%), from €298,300 to €274,436
Income statement
- Taxes -€2,500
down €2,500, from €0 to -€2,500
- Gross operating margin +€900
up €900 (+3.7%), from €24,648 to €25,547
- Depreciation +€478
up €478 (+1.9%), from €25,619 to €26,097
- Financial charges -€303
down €303 (-7.7%), from €3,943 to €3,640
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€6,582
Gross operating margin
+€900
Depreciation
-€478
Other operating charges
-€170
Other operating items
-€342
Financial income
+€0
Financial charges
+€303
Taxes
+€2,500
Result 2025
-€3,868
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€18,549
Investment
+€342
Financing
-€23,618
Cash 2024
€91,981
From operations (derived)
+€18,549
Net result for the year
-€3,868
Depreciation
+€26,097
Deferred charges and accrued income
-€5
Provisions
-€563
Trade debts
+€176
Other debts
-€4,388
Accrued charges and deferred income
+€1,100
Investment (derived)
+€342
Investment in fixed assets (net)
+€342
Financing
-€23,618
Debts after one year
-€23,864
Current portion of long-term debt
+€246
Cash 2025
€87,254
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €672,353 | €641,192 | -€31,161 | -4.6% |
| Fixed assets | 21/28 | €580,204 | €553,765 | -€26,439 | -4.6% |
| Tangible fixed assets | 22/27 | €580,204 | €553,765 | -€26,439 | -4.6% |
| Land and buildings | 22 | €580,204 | €553,765 | -€26,439 | -4.6% |
| Current assets | 29/58 | €92,150 | €87,427 | -€4,723 | -5.1% |
| Cash at bank and in hand | 54/58 | €91,981 | €87,254 | -€4,728 | -5.1% |
| Deferred charges and accrued income | 490/1 | €168 | €173 | +€5 | +3.1% |
| Total equity and liabilities | 10/49 | €672,353 | €641,192 | -€31,161 | -4.6% |
| Equity | 10/15 | €115,555 | €111,687 | -€3,868 | -3.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €107,544 | €105,856 | -€1,689 | -1.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €33,574 | €31,886 | -€1,689 | -5.0% |
| Distributable reserves | 133 | €72,110 | €72,110 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,810 | -€369 | -€2,179 | |
| Provisions and deferred taxes | 16 | €11,191 | €10,629 | -€563 | -5.0% |
| Deferred taxes | 168 | €11,191 | €10,629 | -€563 | -5.0% |
| Amounts payable | 17/49 | €545,607 | €518,877 | -€26,730 | -4.9% |
| Amounts payable after more than one year | 17 | €298,300 | €274,436 | -€23,864 | -8.0% |
| Financial debts | 170/4 | €298,300 | €274,436 | -€23,864 | -8.0% |
| Amounts payable within one year | 42/48 | €247,307 | €243,341 | -€3,966 | -1.6% |
| Current portion of amounts payable after more than one year | 42 | €23,618 | €23,864 | +€246 | +1.0% |
| Trade debts | 44 | €197 | €373 | +€176 | +88.9% |
| Suppliers | 440/4 | €197 | €373 | +€176 | +88.9% |
| Other amounts payable | 47/48 | €223,492 | €219,104 | -€4,388 | -2.0% |
| Accrued charges and deferred income | 492/3 | - | €1,100 | +€1,100 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,619 | €26,097 | +€478 | +1.9% |
| Other operating charges | 640/8 | €2,230 | €2,400 | +€170 | +7.6% |
| Non-recurring operating charges | 66A | - | €342 | +€342 | |
| Gross operating margin | 9900 | €24,648 | €25,547 | +€900 | +3.7% |
| Operating profit (loss) | 9901 | -€3,201 | -€3,291 | -€90 | -2.8% |
| Financial income | 75/76B | €0 | €0 | +€0 | +100% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +100% |
| Financial charges | 65/66B | €3,943 | €3,640 | -€303 | -7.7% |
| Recurring financial charges | 65 | €3,943 | €3,640 | -€303 | -7.7% |
| Profit (loss) for the period before taxes | 9903 | -€7,145 | -€6,931 | +€214 | +3.0% |
| Transfer from deferred taxes | 780 | €563 | €563 | = | 0.0% |
| Income taxes | 67/77 | €0 | -€2,500 | -€2,500 | |
| Profit (loss) for the period | 9904 | -€6,582 | -€3,868 | +€2,714 | +41.2% |
| Transfer from tax-exempt reserves | 789 | €1,689 | €1,689 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,893 | -€2,179 | +€2,714 | +55.5% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.