KOBE FLEXINVEST: what changed
What changed
KOBE FLEXINVEST
NACE 46.869, Wholesale trade
filed annual accounts (NBB)
Net result for the year
€310,559
2024 · €236,083+€74,477
Equity
€1.9m
2024 · €1.7m+€200,842
Cash
€1.0m
2024 · €134,774+€884,395
Balance sheet total
€4.9m
2024 · €3.9m+€997,480
Largest movements
Assets
- Cash +€884,395
up €884,395 (+656%), from €134,774 to €1.0m
mainly Debts after one year (+€1.2m) and Net result for the year (+€310,559)
- Tangible fixed assets +€112,310
up €112,310 (+2.9%), from €3.8m to €3.9m
Equity and liabilities
- Debts after one year +€1.2m
up €1.2m (+81.5%), from €1.5m to €2.7m
of which Financial debts: +€1.2m
- Current portion of long-term debt -€212,500
down €212,500 (-100%), from €212,500 to €0
- Other debts -€211,854
down €211,854 (-49.6%), from €426,874 to €215,021
- Profit (loss) carried forward +€183,288
up €183,288 (+24.9%), from €735,726 to €919,015
Income statement
- Depreciation -€151,980
down €151,980 (-55.4%), from €274,383 to €122,403
- Taxes +€105,709
up €105,709, from -€45,536 to €60,173
- Gross operating margin +€20,416
up €20,416 (+3.5%), from €577,022 to €597,439
- Financial charges -€6,817
down €6,817 (-7.5%), from €90,732 to €83,915
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
€236,083
Gross operating margin
+€20,416
Depreciation
+€151,980
Other operating charges
-€1,861
Financial income
+€2,125
Financial charges
+€6,817
Taxes
-€105,709
Deferred taxes and other
+€708
Result 2025
€310,559
raises the resultlowers the resultnot broken down further in the accounts
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
+€231,325
Investment
-€237,213
Financing
+€890,283
Cash 2024
€134,774
From operations (derived)
+€231,325
Net result for the year
+€310,559
Depreciation
+€122,403
Receivables within one year
+€3,300
Deferred charges and accrued income
-€1,575
Provisions
+€5,615
Trade debts
-€11,397
Tax, wage and social debts
+€18,354
Other debts
-€211,854
Accrued charges and deferred income
-€4,080
Investment (derived)
-€237,213
Investment in fixed assets (net)
-€237,213
Financing
+€890,283
Debts after one year
+€1.2m
Current portion of long-term debt
-€212,500
Contributions, distributions and other
-€109,717
Cash 2025
€1.0m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,949,700 | €4,947,180 | +€997,480 | +25.3% |
| Fixed assets | 21/28 | €3,811,626 | €3,926,437 | +€114,810 | +3.0% |
| Tangible fixed assets | 22/27 | €3,811,626 | €3,923,937 | +€112,310 | +2.9% |
| Land and buildings | 22 | €3,811,626 | €3,923,937 | +€112,310 | +2.9% |
| Financial fixed assets | 28 | - | €2,500 | +€2,500 | |
| Current assets | 29/58 | €138,074 | €1,020,743 | +€882,670 | +639% |
| Amounts receivable within one year | 40/41 | €3,300 | €0 | -€3,300 | -100% |
| Trade receivables | 40 | €3,300 | €0 | -€3,300 | -100% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €134,774 | €1,019,168 | +€884,395 | +656% |
| Deferred charges and accrued income | 490/1 | - | €1,575 | +€1,575 | |
| Total equity and liabilities | 10/49 | €3,949,700 | €4,947,180 | +€997,480 | +25.3% |
| Equity | 10/15 | €1,748,628 | €1,949,470 | +€200,842 | +11.5% |
| Contributions | 10/11 | €74,024 | €74,024 | = | 0.0% |
| Reserves | 13 | €938,877 | €936,148 | -€2,729 | -0.3% |
| Non-distributable reserves | 130/1 | €58 | €58 | = | 0.0% |
| Other | 1319 | €58 | €58 | = | 0.0% |
| Tax-exempt reserves | 132 | €44,533 | €41,804 | -€2,729 | -6.1% |
| Distributable reserves | 133 | €894,286 | €894,286 | = | 0.0% |
| Profit (loss) carried forward | 14 | €735,726 | €919,015 | +€183,288 | +24.9% |
| Investment grants | 15 | - | €20,283 | +€20,283 | |
| Provisions and deferred taxes | 16 | €18,342 | €23,957 | +€5,615 | +30.6% |
| Deferred taxes | 168 | €18,342 | €23,957 | +€5,615 | +30.6% |
| Amounts payable | 17/49 | €2,182,730 | €2,973,753 | +€791,023 | +36.2% |
| Amounts payable after more than one year | 17 | €1,488,500 | €2,701,000 | +€1.2m | +81.5% |
| Financial debts | 170/4 | €1,487,500 | €2,700,000 | +€1.2m | +81.5% |
| Other amounts payable | 178/9 | €1,000 | €1,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €668,090 | €250,693 | -€417,397 | -62.5% |
| Current portion of amounts payable after more than one year | 42 | €212,500 | €0 | -€212,500 | -100% |
| Trade debts | 44 | €26,897 | €15,500 | -€11,397 | -42.4% |
| Suppliers | 440/4 | €26,897 | €15,500 | -€11,397 | -42.4% |
| Taxes, remuneration and social security | 45 | €1,819 | €20,173 | +€18,354 | +1,009% |
| Taxes | 450/3 | €1,819 | €20,173 | +€18,354 | +1,009% |
| Other amounts payable | 47/48 | €426,874 | €215,021 | -€211,854 | -49.6% |
| Accrued charges and deferred income | 492/3 | €26,140 | €22,060 | -€4,080 | -15.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €274,383 | €122,403 | -€151,980 | -55.4% |
| Other operating charges | 640/8 | €22,507 | €24,368 | +€1,861 | +8.3% |
| Gross operating margin | 9900 | €577,022 | €597,439 | +€20,416 | +3.5% |
| Operating profit (loss) | 9901 | €280,133 | €450,668 | +€170,535 | +60.9% |
| Financial income | 75/76B | - | €2,125 | +€2,125 | |
| Recurring financial income | 75 | - | €2,125 | +€2,125 | |
| Financial charges | 65/66B | €90,732 | €83,915 | -€6,817 | -7.5% |
| Recurring financial charges | 65 | €90,732 | €83,915 | -€6,817 | -7.5% |
| Profit (loss) for the period before taxes | 9903 | €189,401 | €368,877 | +€179,477 | +94.8% |
| Transfer from deferred taxes | 780 | €1,146 | €1,855 | +€708 | +61.8% |
| Income taxes | 67/77 | -€45,536 | €60,173 | +€105,709 | |
| Profit (loss) for the period | 9904 | €236,083 | €310,559 | +€74,477 | +31.5% |
| Transfer from tax-exempt reserves | 789 | €2,729 | €2,729 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €238,812 | €313,288 | +€74,477 | +31.2% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.