La Flèche: 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.
La Flèche
Largest movements
- Stocks and contracts +€555,853
up €555,853 (+226.1%), from €245,791 to €801,644
- Cash -€361,754
down €361,754 (-31.4%), from €1.2m to €791,767
mainly Stocks and contracts (-€555,853) and Other debts (-€90,000)
- Tangible fixed assets -€39,807
down €39,807 (-15.0%), from €264,616 to €224,808
of which Land and buildings: -€36,555
- Reserves +€262,146
up €262,146 (+24.4%), from €1.1m to €1.3m
of which Distributable reserves: +€262,146
- Other debts -€90,000
down €90,000 (-69.2%), from €130,000 to €40,000
- Tax, wage and social debts +€58,463
up €58,463 (+56.8%), from €102,925 to €161,387
of which Taxes: +€72,522
- Debts after one year -€50,991
down €50,991 (-26.7%), from €191,074 to €140,083
of which Financial debts: -€51,199
- Trade debts -€20,820
down €20,820 (-12.3%), from €168,886 to €148,066
- Gross operating margin +€126,579
up €126,579 (+18.2%), from €697,274 to €823,853
- Taxes +€59,803
up €59,803 (+73.3%), from €81,607 to €141,410
- Write-downs -€14,125
down €14,125, from €12,599 to -€1,525
- Depreciation -€13,110
down €13,110 (-23.8%), from €55,027 to €41,916
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,815,941 | €1,975,384 | +€159,443 | +8.8% |
| Fixed assets | 21/28 | €264,616 | €224,808 | -€39,807 | -15.0% |
| Tangible fixed assets | 22/27 | €264,616 | €224,808 | -€39,807 | -15.0% |
| Land and buildings | 22 | €251,718 | €215,164 | -€36,555 | -14.5% |
| Plant, machinery and equipment | 23 | €9,816 | €6,506 | -€3,311 | -33.7% |
| Furniture and vehicles | 24 | €3,081 | €3,139 | +€58 | +1.9% |
| Current assets | 29/58 | €1,551,326 | €1,750,576 | +€199,250 | +12.8% |
| Stocks and contracts in progress | 3 | €245,791 | €801,644 | +€555,853 | +226.1% |
| Stocks | 30/36 | €245,791 | €801,644 | +€555,853 | +226.1% |
| Amounts receivable within one year | 40/41 | €152,014 | €157,165 | +€5,151 | +3.4% |
| Trade receivables | 40 | €152,014 | €82,680 | -€69,333 | -45.6% |
| Other amounts receivable | 41 | - | €74,484 | +€74,484 | |
| Cash at bank and in hand | 54/58 | €1,153,521 | €791,767 | -€361,754 | -31.4% |
| Total equity and liabilities | 10/49 | €1,815,941 | €1,975,384 | +€159,443 | +8.8% |
| Equity | 10/15 | €1,172,502 | €1,434,648 | +€262,146 | +22.4% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €1,072,502 | €1,334,648 | +€262,146 | +24.4% |
| Non-distributable reserves | 130/1 | €13,810 | €13,810 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,810 | €3,810 | = | 0.0% |
| Tax-exempt reserves | 132 | €11,840 | €11,840 | = | 0.0% |
| Distributable reserves | 133 | €1,046,852 | €1,308,998 | +€262,146 | +25.0% |
| Amounts payable | 17/49 | €643,439 | €540,736 | -€102,703 | -16.0% |
| Amounts payable after more than one year | 17 | €191,074 | €140,083 | -€50,991 | -26.7% |
| Financial debts | 170/4 | €186,503 | €135,304 | -€51,199 | -27.5% |
| Other amounts payable | 178/9 | €4,571 | €4,780 | +€209 | +4.6% |
| Amounts payable within one year | 42/48 | €452,365 | €400,653 | -€51,712 | -11.4% |
| Current portion of amounts payable after more than one year | 42 | €50,555 | €51,199 | +€644 | +1.3% |
| Trade debts | 44 | €168,886 | €148,066 | -€20,820 | -12.3% |
| Suppliers | 440/4 | €168,886 | €148,066 | -€20,820 | -12.3% |
| Taxes, remuneration and social security | 45 | €102,925 | €161,387 | +€58,463 | +56.8% |
| Taxes | 450/3 | €50,494 | €123,016 | +€72,522 | +143.6% |
| Remuneration and social security | 454/9 | €52,430 | €38,371 | -€14,059 | -26.8% |
| Other amounts payable | 47/48 | €130,000 | €40,000 | -€90,000 | -69.2% |
| Remuneration, social security and pensions | 62 | €315,375 | €318,007 | +€2,631 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,027 | €41,916 | -€13,110 | -23.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €12,599 | -€1,525 | -€14,125 | |
| Other operating charges | 640/8 | €21,356 | €19,912 | -€1,444 | -6.8% |
| Gross operating margin | 9900 | €697,274 | €823,853 | +€126,579 | +18.2% |
| Operating profit (loss) | 9901 | €292,917 | €445,543 | +€152,626 | +52.1% |
| Financial income | 75/76B | €1,369 | €1,443 | +€74 | +5.4% |
| Recurring financial income | 75 | €1,369 | €1,443 | +€74 | +5.4% |
| Financial charges | 65/66B | €4,062 | €3,430 | -€631 | -15.5% |
| Recurring financial charges | 65 | €4,062 | €3,430 | -€631 | -15.5% |
| Profit (loss) for the period before taxes | 9903 | €290,225 | €443,556 | +€153,331 | +52.8% |
| Income taxes | 67/77 | €81,607 | €141,410 | +€59,803 | +73.3% |
| Profit (loss) for the period | 9904 | €208,618 | €302,146 | +€93,528 | +44.8% |
| Profit (loss) for the period to be appropriated | 9905 | €208,618 | €302,146 | +€93,528 | +44.8% |
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 1 October 2026 via checked.be.