FULL FLAPS: 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.
FULL FLAPS
Largest movements
- Stocks and contracts +€21,890
up €21,890 (+51.5%), from €42,485 to €64,375
- Deferred charges and accrued income +€8,889
up €8,889 (+1,403%), from €634 to €9,522
- Cash +€8,152
up €8,152 (+5,468%), from €149 to €8,301
mainly Depreciation (+€15,082) and Trade debts (+€13,785)
- Tangible fixed assets -€5,486
down €5,486 (-10.3%), from €53,424 to €47,937
of which Furniture and vehicles: -€12,342
- Receivables within one year -€2,360
down €2,360 (-48.4%), from €4,878 to €2,518
- Trade debts +€13,785
up €13,785 (+355%), from €3,879 to €17,663
- Short-term financial debts +€8,231
up €8,231 (+49.1%), from €16,769 to €25,000
- Other debts +€6,752
up €6,752 (+755%), from €895 to €7,647
- Tax, wage and social debts +€3,825
up €3,825 (+59.2%), from €6,460 to €10,285
- Gross operating margin -€21,669
down €21,669 (-47.3%), from €45,851 to €24,182
- Other operating charges +€2,583
up €2,583 (+596%), from €433 to €3,016
- Depreciation +€1,559
up €1,559 (+11.5%), from €13,523 to €15,082
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 | €102,169 | €135,379 | +€33,210 | +32.5% |
| Fixed assets | 21/28 | €54,024 | €50,662 | -€3,361 | -6.2% |
| Tangible fixed assets | 22/27 | €53,424 | €47,937 | -€5,486 | -10.3% |
| Plant, machinery and equipment | 23 | €741 | €7,597 | +€6,856 | +925% |
| Furniture and vehicles | 24 | €52,682 | €40,340 | -€12,342 | -23.4% |
| Financial fixed assets | 28 | €600 | €2,725 | +€2,125 | +354% |
| Current assets | 29/58 | €48,145 | €84,716 | +€36,571 | +76.0% |
| Stocks and contracts in progress | 3 | €42,485 | €64,375 | +€21,890 | +51.5% |
| Stocks | 30/36 | €42,485 | €64,375 | +€21,890 | +51.5% |
| Amounts receivable within one year | 40/41 | €4,878 | €2,518 | -€2,360 | -48.4% |
| Trade receivables | 40 | €4,878 | €2,518 | -€2,360 | -48.4% |
| Cash at bank and in hand | 54/58 | €149 | €8,301 | +€8,152 | +5,468% |
| Deferred charges and accrued income | 490/1 | €634 | €9,522 | +€8,889 | +1,403% |
| Total equity and liabilities | 10/49 | €102,169 | €135,379 | +€33,210 | +32.5% |
| Equity | 10/15 | €51,404 | €52,021 | +€617 | +1.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €777 | €777 | = | 0.0% |
| Distributable reserves | 133 | €777 | €777 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,373 | -€10,756 | +€617 | +5.4% |
| Amounts payable | 17/49 | €50,765 | €83,358 | +€32,593 | +64.2% |
| Amounts payable within one year | 42/48 | €50,765 | €83,358 | +€32,593 | +64.2% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €16,769 | €25,000 | +€8,231 | +49.1% |
| Credit institutions | 430/8 | €16,769 | €25,000 | +€8,231 | +49.1% |
| Trade debts | 44 | €3,879 | €17,663 | +€13,785 | +355% |
| Suppliers | 440/4 | €3,879 | €17,663 | +€13,785 | +355% |
| Advances received on contracts in progress | 46 | €22,763 | €22,763 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €6,460 | €10,285 | +€3,825 | +59.2% |
| Taxes | 450/3 | €6,460 | €10,285 | +€3,825 | +59.2% |
| Other amounts payable | 47/48 | €895 | €7,647 | +€6,752 | +755% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,523 | €15,082 | +€1,559 | +11.5% |
| Other operating charges | 640/8 | €433 | €3,016 | +€2,583 | +596% |
| Gross operating margin | 9900 | €45,851 | €24,182 | -€21,669 | -47.3% |
| Operating profit (loss) | 9901 | €31,895 | €6,084 | -€25,811 | -80.9% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €5,178 | €5,389 | +€211 | +4.1% |
| Recurring financial charges | 65 | €5,178 | €5,389 | +€211 | +4.1% |
| Profit (loss) for the period before taxes | 9903 | €26,717 | €695 | -€26,022 | -97.4% |
| Income taxes | 67/77 | - | €78 | +€78 | |
| Profit (loss) for the period | 9904 | €26,717 | €617 | -€26,100 | -97.7% |
| Profit (loss) for the period to be appropriated | 9905 | €26,717 | €617 | -€26,100 | -97.7% |
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 20 October 2026 via checked.be.