REFLEXY: what changed
REFLEXY
Largest movements
- Cash -€21,552
down €21,552 (-23.5%), from €91,601 to €70,050
mainly Net result for the year (-€12,962) and Tax, wage and social debts (-€10,486)
- Tangible fixed assets -€8,193
down €8,193 (-32.9%), from €24,913 to €16,719
of which Leasing and similar rights: -€9,921
- Receivables within one year -€5,269
down €5,269 (-39.0%), from €13,515 to €8,246
of which Trade receivables: -€5,165
- Reserves -€13,000
down €13,000 (-10.4%), from €125,000 to €112,000
- Tax, wage and social debts -€10,486
down €10,486 (-100%), from €10,486 to €0
- Debts after one year -€5,088
down €5,088 (-48.4%), from €10,523 to €5,435
- Other debts -€5,045
down €5,045 (-35.1%), from €14,380 to €9,335
- Gross operating margin -€60,906
down €60,906, from €58,205 to -€2,701
- Taxes -€14,677
down €14,677 (-98.7%), from €14,872 to €195
- Financial income +€1,413
up €1,413 (+348%), from €405 to €1,818
- Depreciation -€1,031
down €1,031 (-9.0%), from €11,493 to €10,462
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €183,475 | €149,572 | -€33,902 | -18.5% |
| Fixed assets | 21/28 | €25,813 | €17,619 | -€8,193 | -31.7% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €24,913 | €16,719 | -€8,193 | -32.9% |
| Plant, machinery and equipment | 23 | €1,854 | €1,601 | -€253 | -13.6% |
| Furniture and vehicles | 24 | €65 | €2,045 | +€1,980 | +3,051% |
| Leasing and similar rights | 25 | €22,994 | €13,073 | -€9,921 | -43.1% |
| Financial fixed assets | 28 | €900 | €900 | = | 0.0% |
| Current assets | 29/58 | €157,662 | €131,953 | -€25,709 | -16.3% |
| Amounts receivable within one year | 40/41 | €13,515 | €8,246 | -€5,269 | -39.0% |
| Trade receivables | 40 | €5,165 | €0 | -€5,165 | -100% |
| Other amounts receivable | 41 | €8,350 | €8,246 | -€104 | -1.2% |
| Current investments | 50/53 | €50,000 | €51,000 | +€1,000 | +2.0% |
| Cash at bank and in hand | 54/58 | €91,601 | €70,050 | -€21,552 | -23.5% |
| Deferred charges and accrued income | 490/1 | €2,546 | €2,657 | +€112 | +4.4% |
| Total equity and liabilities | 10/49 | €183,475 | €149,572 | -€33,902 | -18.5% |
| Equity | 10/15 | €139,192 | €126,230 | -€12,962 | -9.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €125,000 | €112,000 | -€13,000 | -10.4% |
| Distributable reserves | 133 | €125,000 | €112,000 | -€13,000 | -10.4% |
| Profit (loss) carried forward | 14 | €1,792 | €1,830 | +€38 | +2.1% |
| Amounts payable | 17/49 | €44,283 | €23,343 | -€20,940 | -47.3% |
| Amounts payable after more than one year | 17 | €10,523 | €5,435 | -€5,088 | -48.4% |
| Financial debts | 170/4 | €10,523 | €5,435 | -€5,088 | -48.4% |
| Amounts payable within one year | 42/48 | €33,759 | €16,885 | -€16,875 | -50.0% |
| Current portion of amounts payable after more than one year | 42 | €5,023 | €5,088 | +€65 | +1.3% |
| Trade debts | 44 | €3,870 | €2,461 | -€1,409 | -36.4% |
| Suppliers | 440/4 | €3,870 | €2,461 | -€1,409 | -36.4% |
| Taxes, remuneration and social security | 45 | €10,486 | €0 | -€10,486 | -100% |
| Taxes | 450/3 | €10,486 | €0 | -€10,486 | -100% |
| Other amounts payable | 47/48 | €14,380 | €9,335 | -€5,045 | -35.1% |
| Accrued charges and deferred income | 492/3 | - | €1,023 | +€1,023 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,493 | €10,462 | -€1,031 | -9.0% |
| Other operating charges | 640/8 | €1,135 | €1,061 | -€74 | -6.6% |
| Gross operating margin | 9900 | €58,205 | -€2,701 | -€60,906 | |
| Operating profit (loss) | 9901 | €45,576 | -€14,224 | -€59,800 | |
| Financial income | 75/76B | €405 | €1,818 | +€1,413 | +348% |
| Recurring financial income | 75 | €405 | €1,818 | +€1,413 | +348% |
| Financial charges | 65/66B | €371 | €361 | -€9 | -2.5% |
| Recurring financial charges | 65 | €371 | €361 | -€9 | -2.5% |
| Profit (loss) for the period before taxes | 9903 | €45,611 | -€12,767 | -€58,378 | |
| Income taxes | 67/77 | €14,872 | €195 | -€14,677 | -98.7% |
| Profit (loss) for the period | 9904 | €30,739 | -€12,962 | -€43,701 | |
| Profit (loss) for the period to be appropriated | 9905 | €30,739 | -€12,962 | -€43,701 |
Next steps
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 7 November 2026 via checked.be.