Flying Masters IBP: 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.
Flying Masters IBP
Largest movements
- Receivables within one year +€377,832
up €377,832 (+217%), from €174,301 to €552,133
of which Trade receivables: +€377,776
- Financial fixed assets +€150,000
new in 2025: €150,000
- Current investments -€150,000
down €150,000 (-37.5%), from €400,000 to €250,000
- Cash -€66,601
down €66,601 (-50.4%), from €132,204 to €65,603
mainly Receivables within one year (-€377,832) and Investment in fixed assets (net) (-€313,688)
- Tangible fixed assets +€31,058
up €31,058 (+2.7%), from €1.1m to €1.2m
of which Plant, machinery and equipment: +€96,813
- Reserves +€416,613
up €416,613 (+38.5%), from €1.1m to €1.5m
- Trade debts -€80,921
down €80,921 (-69.4%), from €116,579 to €35,659
- Tax, wage and social debts +€72,056
up €72,056 (+74.0%), from €97,431 to €169,486
of which Taxes: +€60,872
- Debts after one year -€63,962
down €63,962 (-13.0%), from €492,502 to €428,539
- Gross operating margin -€572,686
down €572,686 (-41.3%), from €1.4m to €813,065
- Taxes -€129,927
down €129,927 (-40.9%), from €317,853 to €187,926
- Depreciation +€55,983
up €55,983 (+72.3%), from €77,388 to €133,372
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 | €1,870,750 | €2,221,472 | +€350,722 | +18.7% |
| Fixed assets | 21/28 | €1,137,338 | €1,317,654 | +€180,317 | +15.9% |
| Intangible fixed assets | 21 | €1,977 | €1,235 | -€742 | -37.5% |
| Tangible fixed assets | 22/27 | €1,135,361 | €1,166,419 | +€31,058 | +2.7% |
| Land and buildings | 22 | €1,008,720 | €956,243 | -€52,477 | -5.2% |
| Plant, machinery and equipment | 23 | €85,242 | €182,056 | +€96,813 | +114% |
| Furniture and vehicles | 24 | €6,020 | €10,052 | +€4,032 | +67.0% |
| Leasing and similar rights | 25 | €35,379 | €18,069 | -€17,310 | -48.9% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | - | €150,000 | +€150,000 | |
| Current assets | 29/58 | €733,413 | €903,818 | +€170,405 | +23.2% |
| Stocks and contracts in progress | 3 | €2,902 | €16,166 | +€13,265 | +457% |
| Stocks | 30/36 | €2,902 | €16,166 | +€13,265 | +457% |
| Amounts receivable within one year | 40/41 | €174,301 | €552,133 | +€377,832 | +217% |
| Trade receivables | 40 | €170,179 | €547,955 | +€377,776 | +222% |
| Other amounts receivable | 41 | €4,122 | €4,178 | +€56 | +1.4% |
| Current investments | 50/53 | €400,000 | €250,000 | -€150,000 | -37.5% |
| Cash at bank and in hand | 54/58 | €132,204 | €65,603 | -€66,601 | -50.4% |
| Deferred charges and accrued income | 490/1 | €24,006 | €19,916 | -€4,091 | -17.0% |
| Total equity and liabilities | 10/49 | €1,870,750 | €2,221,472 | +€350,722 | +18.7% |
| Equity | 10/15 | €1,102,598 | €1,519,211 | +€416,613 | +37.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,082,598 | €1,499,211 | +€416,613 | +38.5% |
| Distributable reserves | 133 | €1,082,598 | €1,499,211 | +€416,613 | +38.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €768,152 | €702,261 | -€65,891 | -8.6% |
| Amounts payable after more than one year | 17 | €492,502 | €428,539 | -€63,962 | -13.0% |
| Financial debts | 170/4 | €492,502 | €428,539 | -€63,962 | -13.0% |
| Amounts payable within one year | 42/48 | €275,113 | €273,184 | -€1,929 | -0.7% |
| Current portion of amounts payable after more than one year | 42 | €58,487 | €63,962 | +€5,476 | +9.4% |
| Trade debts | 44 | €116,579 | €35,659 | -€80,921 | -69.4% |
| Suppliers | 440/4 | €116,579 | €35,659 | -€80,921 | -69.4% |
| Taxes, remuneration and social security | 45 | €97,431 | €169,486 | +€72,056 | +74.0% |
| Taxes | 450/3 | €54,100 | €114,973 | +€60,872 | +113% |
| Remuneration and social security | 454/9 | €43,330 | €54,514 | +€11,184 | +25.8% |
| Other amounts payable | 47/48 | €2,617 | €4,077 | +€1,460 | +55.8% |
| Accrued charges and deferred income | 492/3 | €537 | €537 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | €676,543 | +€676,543 | |
| Remuneration, social security and pensions | 62 | €45,531 | €47,211 | +€1,680 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,388 | €133,372 | +€55,983 | +72.3% |
| Other operating charges | 640/8 | €860 | €105 | -€755 | -87.8% |
| Non-recurring operating charges | 66A | €0 | €12,546 | +€12,546 | |
| Gross operating margin | 9900 | €1,385,751 | €813,065 | -€572,686 | -41.3% |
| Operating profit (loss) | 9901 | €1,261,972 | €619,832 | -€642,141 | -50.9% |
| Financial income | 75/76B | €3,001 | €4,132 | +€1,131 | +37.7% |
| Recurring financial income | 75 | €3,001 | €4,132 | +€1,131 | +37.7% |
| Financial charges | 65/66B | €25,549 | €19,425 | -€6,124 | -24.0% |
| Recurring financial charges | 65 | €25,549 | €19,425 | -€6,124 | -24.0% |
| Profit (loss) for the period before taxes | 9903 | €1,239,424 | €604,539 | -€634,885 | -51.2% |
| Income taxes | 67/77 | €317,853 | €187,926 | -€129,927 | -40.9% |
| Profit (loss) for the period | 9904 | €921,571 | €416,613 | -€504,958 | -54.8% |
| Profit (loss) for the period to be appropriated | 9905 | €921,571 | €416,613 | -€504,958 | -54.8% |
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 28 October 2026 via checked.be.