FSL INVEST: what changed
What changed
FSL INVEST
NACE 68.310, Real estate agency activities
filed annual accounts (NBB)
Net result for the year
-€32,923
2024 · €24,705-€57,628
Equity
-€169,396
2024 · -€136,473-€32,923
Cash
€23,391
2024 · €22,651+€740
Balance sheet total
€7.0m
2024 · €7.0m-€3,004
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Staff costs +€34,789
up €34,789 (+48.5%), from €71,769 to €106,558
- Gross operating margin -€18,376
down €18,376 (-9.7%), from €190,061 to €171,685
- Depreciation +€5,777
up €5,777 (+18.6%), from €31,109 to €36,886
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
€24,705
Gross operating margin
-€18,376
Staff costs
-€34,789
Depreciation
-€5,777
Other operating charges
+€594
Financial income
-€278
Financial charges
+€998
Result 2025
-€32,923
raises the resultlowers the result
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
+€40,223
Investment
-€25,500
Financing
-€13,982
Cash 2024
€22,651
From operations (derived)
+€40,223
Net result for the year
-€32,923
Depreciation
+€36,886
Receivables within one year
-€5,462
Deferred charges and accrued income
-€2,180
Trade debts
+€8,615
Tax, wage and social debts
+€1,167
Other debts
+€40,940
Accrued charges and deferred income
-€6,820
Investment (derived)
-€25,500
Investment in fixed assets (net)
-€25,500
Financing
-€13,982
Debts after one year
-€20,250
Current portion of long-term debt
+€6,268
Cash 2025
€23,391
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,969,823 | €6,966,820 | -€3,004 | 0.0% |
| Fixed assets | 21/28 | €6,944,548 | €6,933,162 | -€11,386 | -0.2% |
| Tangible fixed assets | 22/27 | €399,356 | €387,970 | -€11,386 | -2.9% |
| Land and buildings | 22 | €303,151 | €286,654 | -€16,497 | -5.4% |
| Plant, machinery and equipment | 23 | €96,205 | €80,777 | -€15,428 | -16.0% |
| Furniture and vehicles | 24 | - | €20,540 | +€20,540 | |
| Financial fixed assets | 28 | €6,545,192 | €6,545,192 | = | 0.0% |
| Current assets | 29/58 | €25,276 | €33,658 | +€8,382 | +33.2% |
| Amounts receivable within one year | 40/41 | €1,346 | €6,808 | +€5,462 | +406% |
| Trade receivables | 40 | €1,052 | €2,941 | +€1,888 | +179% |
| Other amounts receivable | 41 | €294 | €3,867 | +€3,573 | +1,215% |
| Cash at bank and in hand | 54/58 | €22,651 | €23,391 | +€740 | +3.3% |
| Deferred charges and accrued income | 490/1 | €1,279 | €3,459 | +€2,180 | +170% |
| Total equity and liabilities | 10/49 | €6,969,823 | €6,966,820 | -€3,004 | 0.0% |
| Equity | 10/15 | -€136,473 | -€169,396 | -€32,923 | -24.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€155,073 | -€187,996 | -€32,923 | -21.2% |
| Amounts payable | 17/49 | €7,106,296 | €7,136,216 | +€29,920 | +0.4% |
| Amounts payable after more than one year | 17 | €159,699 | €139,448 | -€20,250 | -12.7% |
| Financial debts | 170/4 | €159,699 | €139,448 | -€20,250 | -12.7% |
| Amounts payable within one year | 42/48 | €6,937,997 | €6,994,987 | +€56,990 | +0.8% |
| Current portion of amounts payable after more than one year | 42 | €37,131 | €43,399 | +€6,268 | +16.9% |
| Trade debts | 44 | €4,013 | €12,627 | +€8,615 | +215% |
| Suppliers | 440/4 | €4,013 | €12,627 | +€8,615 | +215% |
| Taxes, remuneration and social security | 45 | €3,774 | €4,941 | +€1,167 | +30.9% |
| Taxes | 450/3 | €258 | €84 | -€175 | -67.6% |
| Remuneration and social security | 454/9 | €3,516 | €4,857 | +€1,341 | +38.1% |
| Other amounts payable | 47/48 | €6,893,080 | €6,934,020 | +€40,940 | +0.6% |
| Accrued charges and deferred income | 492/3 | €8,600 | €1,780 | -€6,820 | -79.3% |
| Remuneration, social security and pensions | 62 | €71,769 | €106,558 | +€34,789 | +48.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,109 | €36,886 | +€5,777 | +18.6% |
| Other operating charges | 640/8 | €10,045 | €9,451 | -€594 | -5.9% |
| Gross operating margin | 9900 | €190,061 | €171,685 | -€18,376 | -9.7% |
| Operating profit (loss) | 9901 | €77,138 | €18,790 | -€58,349 | -75.6% |
| Financial income | 75/76B | €360 | €82 | -€278 | -77.2% |
| Recurring financial income | 75 | €360 | €82 | -€278 | -77.2% |
| Financial charges | 65/66B | €52,793 | €51,795 | -€998 | -1.9% |
| Recurring financial charges | 65 | €52,793 | €51,795 | -€998 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | €24,705 | -€32,923 | -€57,628 | |
| Profit (loss) for the period | 9904 | €24,705 | -€32,923 | -€57,628 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,705 | -€32,923 | -€57,628 |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 August 2024 and 31 August 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.