FLUIDITY: 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
FLUIDITY
NACE 28.120, Manufacture of machinery and equipment not elsewhere classified
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€158,702
2024 · €169,670-€328,372
Equity
€13.8m
2024 · €14.0m-€158,702
Cash
€133,070
2024 · €170,490-€37,421
Balance sheet total
€24.7m
2024 · €25.4m-€648,654
Largest movements
Assets
- Tangible fixed assets -€2.0m
down €2.0m (-9.4%), from €21.0m to €19.0m
of which Land and buildings: -€1.5m
- Receivables within one year +€1.5m
up €1.5m (+84.8%), from €1.7m to €3.2m
of which Other amounts receivable: +€1.3m
Equity and liabilities
- Debts after one year -€557,574
down €557,574 (-10.1%), from €5.5m to €5.0m
- Other debts +€453,777
up €453,777 (+9.5%), from €4.8m to €5.2m
- Tax, wage and social debts -€305,976
down €305,976 (-93.6%), from €326,889 to €20,913
Income statement
- Other operating charges +€220,200
up €220,200 (+360.8%), from €61,033 to €281,233
- Gross operating margin -€87,733
down €87,733 (-6.1%), from €1.4m to €1.4m
- Financial charges +€55,150
up €55,150 (+47.8%), from €115,335 to €170,485
- Depreciation -€52,828
down €52,828 (-5.1%), from €1.0m to €982,085
- Financial income +€35,773
up €35,773 (+504.1%), from €7,096 to €42,870
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
€169,670
Gross operating margin
-€87,733
Depreciation
+€52,828
Other operating charges
-€220,200
Other operating items
-€24,874
Financial income
+€35,773
Financial charges
-€55,150
Taxes
-€29,016
Result 2025
-€158,702
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
-€502,575
Investment
+€1.1m
Financing
-€640,735
Cash 2024
€170,490
From operations (derived)
-€502,575
Net result for the year
-€158,702
Depreciation
+€982,085
Receivables within one year
-€1.5m
Smaller working-capital items
-€7,049
Tax, wage and social debts
-€305,976
Other debts
+€453,777
Accrued charges and deferred income
+€9,488
Investment (derived)
+€1.1m
Investment in fixed assets (net)
+€1.1m
Financing
-€640,735
Debts after one year
-€557,574
Current portion of long-term debt
-€83,161
Cash 2025
€133,070
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €25,352,924 | €24,704,270 | -€648,654 | -2.6% |
| Fixed assets | 21/28 | €23,421,156 | €21,333,181 | -€2.1m | -8.9% |
| Tangible fixed assets | 22/27 | €21,013,497 | €19,045,335 | -€2.0m | -9.4% |
| Land and buildings | 22 | €15,512,104 | €14,013,439 | -€1.5m | -9.7% |
| Plant, machinery and equipment | 23 | €3,482,256 | €2,900,751 | -€581,505 | -16.7% |
| Furniture and vehicles | 24 | €637,377 | €749,385 | +€112,008 | +17.6% |
| Other tangible fixed assets | 26 | €1,381,760 | €1,381,760 | = | 0.0% |
| Financial fixed assets | 28 | €2,407,659 | €2,287,846 | -€119,813 | -5.0% |
| Current assets | 29/58 | €1,931,769 | €3,371,089 | +€1.4m | +74.5% |
| Amounts receivable within one year | 40/41 | €1,740,309 | €3,216,507 | +€1.5m | +84.8% |
| Trade receivables | 40 | €969,235 | €1,161,399 | +€192,164 | +19.8% |
| Other amounts receivable | 41 | €771,074 | €2,055,108 | +€1.3m | +166.5% |
| Cash at bank and in hand | 54/58 | €170,490 | €133,070 | -€37,421 | -21.9% |
| Deferred charges and accrued income | 490/1 | €20,970 | €21,512 | +€543 | +2.6% |
| Total equity and liabilities | 10/49 | €25,352,924 | €24,704,270 | -€648,654 | -2.6% |
| Equity | 10/15 | €13,975,424 | €13,816,722 | -€158,702 | -1.1% |
| Contributions | 10/11 | €10,000,000 | €10,000,000 | = | 0.0% |
| Reserves | 13 | €859,148 | €848,927 | -€10,220 | -1.2% |
| Non-distributable reserves | 130/1 | €600,000 | €600,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €600,000 | €600,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €259,148 | €248,927 | -€10,220 | -3.9% |
| Profit (loss) carried forward | 14 | €3,116,277 | €2,967,795 | -€148,482 | -4.8% |
| Provisions and deferred taxes | 16 | €86,383 | €82,976 | -€3,407 | -3.9% |
| Deferred taxes | 168 | €86,383 | €82,976 | -€3,407 | -3.9% |
| Amounts payable | 17/49 | €11,291,117 | €10,804,572 | -€486,545 | -4.3% |
| Amounts payable after more than one year | 17 | €5,515,112 | €4,957,538 | -€557,574 | -10.1% |
| Financial debts | 170/4 | €5,515,112 | €4,957,538 | -€557,574 | -10.1% |
| Amounts payable within one year | 42/48 | €5,756,608 | €5,818,148 | +€61,541 | +1.1% |
| Current portion of amounts payable after more than one year | 42 | €640,640 | €557,479 | -€83,161 | -13.0% |
| Trade debts | 44 | €3,100 | - | -€3,100 | |
| Suppliers | 440/4 | €3,100 | - | -€3,100 | |
| Taxes, remuneration and social security | 45 | €326,889 | €20,913 | -€305,976 | -93.6% |
| Taxes | 450/3 | €326,889 | €20,913 | -€305,976 | -93.6% |
| Other amounts payable | 47/48 | €4,785,979 | €5,239,756 | +€453,777 | +9.5% |
| Accrued charges and deferred income | 492/3 | €19,398 | €28,886 | +€9,488 | +48.9% |
| Non-recurring operating income | 76A | - | €25,000 | +€25,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,034,913 | €982,085 | -€52,828 | -5.1% |
| Other operating charges | 640/8 | €61,033 | €281,233 | +€220,200 | +360.8% |
| Non-recurring operating charges | 66A | - | €24,874 | +€24,874 | |
| Gross operating margin | 9900 | €1,440,059 | €1,352,325 | -€87,733 | -6.1% |
| Operating profit (loss) | 9901 | €344,112 | €64,133 | -€279,979 | -81.4% |
| Financial income | 75/76B | €7,096 | €42,870 | +€35,773 | +504.1% |
| Recurring financial income | 75 | €7,096 | €42,870 | +€35,773 | +504.1% |
| Financial charges | 65/66B | €115,335 | €170,485 | +€55,150 | +47.8% |
| Recurring financial charges | 65 | €115,335 | €170,485 | +€55,150 | +47.8% |
| Profit (loss) for the period before taxes | 9903 | €235,874 | -€63,482 | -€299,356 | |
| Transfer from deferred taxes | 780 | €3,407 | €3,407 | = | 0.0% |
| Income taxes | 67/77 | €69,611 | €98,627 | +€29,016 | +41.7% |
| Profit (loss) for the period | 9904 | €169,670 | -€158,702 | -€328,372 | |
| Transfer from tax-exempt reserves | 789 | €10,220 | €10,220 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €179,891 | -€148,482 | -€328,372 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.