REFLEXOR: 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.
REFLEXOR
Largest movements
- Cash -€55,732
down €55,732 (-71.7%), from €77,705 to €21,972
mainly Short-term financial debts (-€50,000) and Trade debts (-€12,035)
- Receivables within one year +€10,413
up €10,413 (+69.3%), from €15,035 to €25,447
of which Trade receivables: +€9,128
- Stocks and contracts +€4,818
up €4,818 (+51.1%), from €9,436 to €14,254
- Tangible fixed assets -€3,520
down €3,520 (-40.5%), from €8,689 to €5,169
- Short-term financial debts -€50,000
no longer reported in 2025 (was €50,000)
- Profit (loss) carried forward +€14,089
up €14,089 (+99.4%), from -€14,177 to -€88
- Trade debts -€12,035
down €12,035 (-47.3%), from €25,450 to €13,415
- Tax, wage and social debts +€7,168
up €7,168 (+147.5%), from €4,859 to €12,027
- Other debts +€2,290
up €2,290 (+21.8%), from €10,507 to €12,797
- Gross operating margin +€27,507
up €27,507, from -€7,066 to €20,441
- Taxes +€1,177
up €1,177 (+908.5%), from €130 to €1,307
- Financial charges -€1,106
down €1,106 (-22.3%), from €4,964 to €3,858
- Financial income -€659
down €659 (-33.9%), from €1,946 to €1,287
- Write-downs +€421
up €421, from -€249 to €172
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 | €111,081 | €67,061 | -€44,020 | -39.6% |
| Fixed assets | 21/28 | €8,689 | €5,169 | -€3,520 | -40.5% |
| Tangible fixed assets | 22/27 | €8,689 | €5,169 | -€3,520 | -40.5% |
| Furniture and vehicles | 24 | €8,689 | €5,169 | -€3,520 | -40.5% |
| Current assets | 29/58 | €102,392 | €61,892 | -€40,500 | -39.6% |
| Stocks and contracts in progress | 3 | €9,436 | €14,254 | +€4,818 | +51.1% |
| Stocks | 30/36 | €9,436 | €14,254 | +€4,818 | +51.1% |
| Amounts receivable within one year | 40/41 | €15,035 | €25,447 | +€10,413 | +69.3% |
| Trade receivables | 40 | €14,983 | €24,111 | +€9,128 | +60.9% |
| Other amounts receivable | 41 | €52 | €1,337 | +€1,285 | +2475.4% |
| Cash at bank and in hand | 54/58 | €77,705 | €21,972 | -€55,732 | -71.7% |
| Deferred charges and accrued income | 490/1 | €217 | €218 | +€1 | +0.6% |
| Total equity and liabilities | 10/49 | €111,081 | €67,061 | -€44,020 | -39.6% |
| Equity | 10/15 | €14,426 | €26,656 | +€12,230 | +84.8% |
| Contributions | 10/11 | €18,593 | €18,593 | = | 0.0% |
| Reserves | 13 | €10,010 | €8,151 | -€1,859 | -18.6% |
| Distributable reserves | 133 | €10,010 | €8,151 | -€1,859 | -18.6% |
| Profit (loss) carried forward | 14 | -€14,177 | -€88 | +€14,089 | +99.4% |
| Amounts payable | 17/49 | €96,655 | €40,405 | -€56,250 | -58.2% |
| Amounts payable after more than one year | 17 | €2,167 | - | -€2,167 | |
| Financial debts | 170/4 | €2,167 | - | -€2,167 | |
| Amounts payable within one year | 42/48 | €94,488 | €40,405 | -€54,083 | -57.2% |
| Current portion of amounts payable after more than one year | 42 | €3,673 | €2,167 | -€1,506 | -41.0% |
| Financial debts | 43 | €50,000 | - | -€50,000 | |
| Credit institutions | 430/8 | €50,000 | - | -€50,000 | |
| Trade debts | 44 | €25,450 | €13,415 | -€12,035 | -47.3% |
| Suppliers | 440/4 | €25,450 | €13,415 | -€12,035 | -47.3% |
| Taxes, remuneration and social security | 45 | €4,859 | €12,027 | +€7,168 | +147.5% |
| Taxes | 450/3 | €4,859 | €12,027 | +€7,168 | +147.5% |
| Other amounts payable | 47/48 | €10,507 | €12,797 | +€2,290 | +21.8% |
| Non-recurring operating income | 76A | €10,000 | - | -€10,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,735 | €3,520 | -€215 | -5.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€249 | €172 | +€421 | |
| Other operating charges | 640/8 | €687 | €641 | -€46 | -6.7% |
| Gross operating margin | 9900 | -€7,066 | €20,441 | +€27,507 | |
| Operating profit (loss) | 9901 | -€11,239 | €16,108 | +€27,347 | |
| Financial income | 75/76B | €1,946 | €1,287 | -€659 | -33.9% |
| Recurring financial income | 75 | €1,946 | €1,287 | -€659 | -33.9% |
| Financial charges | 65/66B | €4,964 | €3,858 | -€1,106 | -22.3% |
| Recurring financial charges | 65 | €4,964 | €3,858 | -€1,106 | -22.3% |
| Profit (loss) for the period before taxes | 9903 | -€14,257 | €13,536 | +€27,793 | |
| Income taxes | 67/77 | €130 | €1,307 | +€1,177 | +908.5% |
| Profit (loss) for the period | 9904 | -€14,387 | €12,230 | +€26,616 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,387 | €12,230 | +€26,616 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.