FLUENTIS: what changed
Two fiscal 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
FLUENTIS
NACE 42.220, Construction of utility projects for electricity and telecommunications
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€2.2m
2024 · €3.6m-€1.4m
Equity
€12.9m
2024 · €10.7m+€2.2m
Cash
€3.7m
2024 · €4.2m-€470,652
Balance sheet total
€18.3m
2024 · €15.0m+€3.3m
Largest movements
Assets
- Receivables within one year +€4.6m
up €4.6m (+239.7%), from €1.9m to €6.5m
of which Other amounts receivable: +€2.5m
- Financial fixed assets +€3.5m
up €3.5m (+232.0%), from €1.5m to €5.0m
of which Affiliated companies: +€5.0m
- Current investments -€2.5m
no longer reported in 2025 (was €2.5m)
- Stocks and contracts -€1.8m
down €1.8m (-43.0%), from €4.2m to €2.4m
of which Contracts in progress: -€1.5m
- Cash -€470,652
down €470,652 (-11.3%), from €4.2m to €3.7m
mainly Receivables within one year (-€4.6m) and Investment in fixed assets (net) (-€3.7m)
Equity and liabilities
- Reserves +€2.2m
up €2.2m (+21.0%), from €10.6m to €12.9m
of which Distributable reserves: +€2.2m
- Trade debts +€1.5m
up €1.5m (+48.5%), from €3.1m to €4.6m
- Tax, wage and social debts -€336,376
down €336,376 (-57.2%), from €587,614 to €251,238
of which Taxes: -€336,594
Income statement
- Turnover +€21.7m
new in 2025: €21.7m
- Goods and materials +€12.2m
new in 2025: €12.2m
of which Purchases: +€11.9m
- Gross operating margin -€6.9m
no longer reported in 2025 (was €6.9m)
- Services and other goods +€4.4m
new in 2025: €4.4m
- Taxes -€486,448
down €486,448 (-38.7%), from €1.3m to €769,665
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
€3.6m
Turnover
+€21.7m
Other operating income
+€84,286
Goods and materials
-€12.2m
Services and other goods
-€4.4m
Staff costs
-€140,484
Depreciation
-€17,255
Other operating charges
+€3,175
Other operating items
-€6.9m
Financial income
+€48,655
Financial charges
+€2,740
Taxes
+€486,448
Result 2025
€2.2m
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.
From operations
+€755,593
Investment
-€1.2m
Financing
-€73,019
Cash 2024
€4.2m
From operations (derived)
+€755,593
Net result for the year
+€2.2m
Depreciation
+€247,910
Stocks and contracts
+€1.8m
Receivables within one year
-€4.6m
Deferred charges and accrued income
-€36,188
Trade debts
+€1.5m
Tax, wage and social debts
-€336,376
Advances received
-€26,213
Accrued charges and deferred income
+€1,160
Investment (derived)
-€1.2m
Investment in fixed assets (net)
-€3.7m
Current investments
+€2.5m
Financing
-€73,019
Debts after one year
-€74,501
Current portion of long-term debt
+€1,482
Cash 2025
€3.7m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,008,085 | €18,305,578 | +€3.3m | +22.0% |
| Fixed assets | 21/28 | €2,258,732 | €5,664,049 | +€3.4m | +150.8% |
| Intangible fixed assets | 21 | €1,870 | - | -€1,870 | |
| Tangible fixed assets | 22/27 | €747,962 | €655,149 | -€92,813 | -12.4% |
| Land and buildings | 22 | €487,568 | €409,772 | -€77,797 | -16.0% |
| Plant, machinery and equipment | 23 | €46,548 | €43,936 | -€2,611 | -5.6% |
| Furniture and vehicles | 24 | €82,554 | €48,224 | -€34,329 | -41.6% |
| Leasing and similar rights | 25 | €131,293 | €153,217 | +€21,924 | +16.7% |
| Financial fixed assets | 28 | €1,508,900 | €5,008,900 | +€3.5m | +232.0% |
| Affiliated companies | 280/1 | - | €5,000,000 | +€5.0m | |
| Amounts receivable | 281 | - | €5,000,000 | +€5.0m | |
| Other financial fixed assets | 284/8 | - | €8,900 | +€8,900 | |
| Shares | 284 | - | €2,500 | +€2,500 | |
| Amounts receivable and cash guarantees | 285/8 | - | €6,400 | +€6,400 | |
| Current assets | 29/58 | €12,749,353 | €12,641,529 | -€107,824 | -0.8% |
| Stocks and contracts in progress | 3 | €4,158,710 | €2,370,748 | -€1.8m | -43.0% |
| Stocks | 30/36 | €2,665,289 | €2,370,748 | -€294,541 | -11.1% |
| Goods purchased for resale | 34 | - | €2,370,748 | +€2.4m | |
| Contracts in progress | 37 | €1,493,421 | - | -€1.5m | |
| Amounts receivable within one year | 40/41 | €1,925,183 | €6,539,785 | +€4.6m | +239.7% |
| Trade receivables | 40 | €1,361,366 | €3,482,350 | +€2.1m | +155.8% |
| Other amounts receivable | 41 | €563,817 | €3,057,435 | +€2.5m | +442.3% |
| Current investments | 50/53 | €2,500,000 | - | -€2.5m | |
| Cash at bank and in hand | 54/58 | €4,165,460 | €3,694,808 | -€470,652 | -11.3% |
| Deferred charges and accrued income | 490/1 | - | €36,188 | +€36,188 | |
| Total equity and liabilities | 10/49 | €15,008,085 | €18,305,578 | +€3.3m | +22.0% |
| Equity | 10/15 | €10,693,685 | €12,930,453 | +€2.2m | +20.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €10,631,685 | €12,868,453 | +€2.2m | +21.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €10,625,485 | €12,862,253 | +€2.2m | +21.1% |
| Amounts payable | 17/49 | €4,314,400 | €5,375,126 | +€1.1m | +24.6% |
| Amounts payable after more than one year | 17 | €374,323 | €299,822 | -€74,501 | -19.9% |
| Financial debts | 170/4 | €374,323 | €299,822 | -€74,501 | -19.9% |
| Leasing and similar obligations | 172 | - | €77,146 | +€77,146 | |
| Credit institutions | 173 | - | €222,676 | +€222,676 | |
| Amounts payable within one year | 42/48 | €3,940,077 | €5,074,144 | +€1.1m | +28.8% |
| Current portion of amounts payable after more than one year | 42 | €129,177 | €130,660 | +€1,482 | +1.1% |
| Trade debts | 44 | €3,082,330 | €4,577,504 | +€1.5m | +48.5% |
| Suppliers | 440/4 | €3,082,330 | €4,577,504 | +€1.5m | +48.5% |
| Advances received on contracts in progress | 46 | €140,437 | €114,224 | -€26,213 | -18.7% |
| Taxes, remuneration and social security | 45 | €587,614 | €251,238 | -€336,376 | -57.2% |
| Taxes | 450/3 | €342,088 | €5,495 | -€336,594 | -98.4% |
| Remuneration and social security | 454/9 | €245,526 | €245,743 | +€217 | +0.1% |
| Other amounts payable | 47/48 | €518 | €518 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €1,160 | +€1,160 | |
| Operating income | 70/76A | - | €21,806,381 | +€21.8m | |
| Turnover | 70 | - | €21,721,115 | +€21.7m | |
| Other operating income | 74 | - | €84,286 | +€84,286 | |
| Non-recurring operating income | 76A | - | €980 | +€980 | |
| Operating charges | 60/66A | - | €18,931,500 | +€18.9m | |
| Goods for resale, raw materials and consumables | 60 | - | €12,243,933 | +€12.2m | |
| Purchases | 600/8 | - | €11,949,392 | +€11.9m | |
| Change in stocks: decrease (increase) | 609 | - | €294,541 | +€294,541 | |
| Services and other goods | 61 | - | €4,401,439 | +€4.4m | |
| Remuneration, social security and pensions | 62 | €1,879,157 | €2,019,642 | +€140,484 | +7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €230,655 | €247,910 | +€17,255 | +7.5% |
| Other operating charges | 640/8 | €21,752 | €18,577 | -€3,175 | -14.6% |
| Gross operating margin | 9900 | €6,915,549 | - | -€6.9m | |
| Operating profit (loss) | 9901 | €4,783,985 | €2,874,881 | -€1.9m | -39.9% |
| Financial income | 75/76B | €100,668 | €149,324 | +€48,655 | +48.3% |
| Recurring financial income | 75 | €100,668 | €149,324 | +€48,655 | +48.3% |
| Income from financial fixed assets | 750 | - | €122,386 | +€122,386 | |
| Other financial income | 752/9 | - | €26,938 | +€26,938 | |
| Financial charges | 65/66B | €20,513 | €17,772 | -€2,740 | -13.4% |
| Recurring financial charges | 65 | €20,513 | €17,772 | -€2,740 | -13.4% |
| Debt charges | 650 | - | €17,281 | +€17,281 | |
| Other financial charges | 652/9 | - | €491 | +€491 | |
| Profit (loss) for the period before taxes | 9903 | €4,864,140 | €3,006,433 | -€1.9m | -38.2% |
| Income taxes | 67/77 | €1,256,113 | €769,665 | -€486,448 | -38.7% |
| Taxes | 670/3 | - | €769,665 | +€769,665 | |
| Profit (loss) for the period | 9904 | €3,608,027 | €2,236,767 | -€1.4m | -38.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,608,027 | €2,236,767 | -€1.4m | -38.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.