LE REFLEXE: 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.
LE REFLEXE
Largest movements
- Receivables within one year +€20,138
up €20,138 (+44.4%), from €45,333 to €65,471
- Cash +€5,285
up €5,285 (+2.3%), from €234,558 to €239,843
mainly Accrued charges and deferred income (+€38,384) and Deferred charges and accrued income (+€4,268)
- Deferred charges and accrued income -€4,268
down €4,268 (-46.0%), from €9,286 to €5,018
- Accrued charges and deferred income +€38,384
up €38,384 (+51.8%), from €74,038 to €112,422
- Debts within one year -€17,573
down €17,573 (-8.4%), from €208,268 to €190,695
- Staff costs +€61,226
up €61,226 (+12.1%), from €505,305 to €566,531
- Gross operating margin +€58,552
up €58,552 (+11.5%), from €508,415 to €566,967
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 | €348,357 | €368,543 | +€20,186 | +5.8% |
| Fixed assets | 21/28 | €8,996 | €6,517 | -€2,479 | -27.6% |
| Tangible fixed assets | 22/27 | €8,458 | €5,979 | -€2,479 | -29.3% |
| Plant, machinery and equipment | 23 | €7,863 | €5,979 | -€1,884 | -24.0% |
| Furniture and vehicles | 24 | €595 | - | -€595 | |
| Financial fixed assets | 28 | €538 | €538 | = | 0.0% |
| Current assets | 29/58 | €339,361 | €362,026 | +€22,665 | +6.7% |
| Amounts receivable within one year | 40/41 | €45,333 | €65,471 | +€20,138 | +44.4% |
| Other amounts receivable | 41 | €45,333 | €65,471 | +€20,138 | +44.4% |
| Current investments | 50/53 | €50,184 | €51,694 | +€1,510 | +3.0% |
| Cash at bank and in hand | 54/58 | €234,558 | €239,843 | +€5,285 | +2.3% |
| Deferred charges and accrued income | 490/1 | €9,286 | €5,018 | -€4,268 | -46.0% |
| Total equity and liabilities | 10/49 | €348,357 | €368,543 | +€20,186 | +5.8% |
| Equity | 10/15 | €66,051 | €65,426 | -€625 | -0.9% |
| Profit (loss) carried forward | 14 | €66,051 | €65,426 | -€625 | -0.9% |
| Amounts payable | 17/49 | €282,306 | €303,117 | +€20,811 | +7.4% |
| Amounts payable within one year | 42/48 | €208,268 | €190,695 | -€17,573 | -8.4% |
| Trade debts | 44 | €10,006 | €6,382 | -€3,624 | -36.2% |
| Suppliers | 440/4 | €10,006 | €6,382 | -€3,624 | -36.2% |
| Taxes, remuneration and social security | 45 | €71,099 | €90,550 | +€19,451 | +27.4% |
| Taxes | 450/3 | €10,923 | €12,232 | +€1,309 | +12.0% |
| Remuneration and social security | 454/9 | €60,176 | €78,318 | +€18,142 | +30.1% |
| Accrued charges and deferred income | 492/3 | €74,038 | €112,422 | +€38,384 | +51.8% |
| Remuneration, social security and pensions | 62 | €505,305 | €566,531 | +€61,226 | +12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,479 | €2,479 | = | 0.0% |
| Non-recurring operating charges | 66A | €995 | €86 | -€909 | -91.4% |
| Gross operating margin | 9900 | €508,415 | €566,967 | +€58,552 | +11.5% |
| Operating profit (loss) | 9901 | -€364 | -€2,129 | -€1,765 | -484.9% |
| Financial income | 75/76B | €86 | €1,752 | +€1,666 | +1937.2% |
| Recurring financial income | 75 | €86 | €1,752 | +€1,666 | +1937.2% |
| Financial charges | 65/66B | €161 | €248 | +€87 | +54.0% |
| Recurring financial charges | 65 | €161 | €248 | +€87 | +54.0% |
| Profit (loss) for the period before taxes | 9903 | -€439 | -€625 | -€186 | -42.4% |
| Profit (loss) for the period | 9904 | -€439 | -€625 | -€186 | -42.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€439 | -€625 | -€186 | -42.4% |
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 3 October 2026 via checked.be.