The Flex Academy: what changed
Two financial 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.
The Flex Academy
Largest movements
- Cash -€43,555
down €43,555 (-89.8%), from €48,506 to €4,951
mainly Other debts (-€19,979) and Net result for the year (-€16,813)
- Receivables within one year -€4,068
down €4,068 (-59.3%), from €6,866 to €2,797
of which Trade receivables: -€2,580
- Tangible fixed assets -€983
down €983 (-78.7%), from €1,249 to €266
- Other debts -€19,979
down €19,979 (-99.2%), from €20,145 to €165
- Tax, wage and social debts -€11,516
down €11,516 (-97.9%), from €11,761 to €246
- Profit (loss) carried forward -€9,791
down €9,791, from €0 to -€9,791
- Reserves -€7,022
down €7,022 (-100%), from €7,022 to €0
- Trade debts -€756
down €756 (-100%), from €756 to €0
- Gross operating margin -€24,540
down €24,540, from €9,368 to -€15,172
- Taxes -€862
down €862 (-100%), from €862 to €0
- Depreciation -€776
down €776 (-44.1%), from €1,759 to €983
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.
Derived cash bridge
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 | €58,284 | €9,390 | -€48,894 | -83.9% |
| Fixed assets | 21/28 | €1,342 | €359 | -€983 | -73.3% |
| Tangible fixed assets | 22/27 | €1,249 | €266 | -€983 | -78.7% |
| Furniture and vehicles | 24 | €1,249 | €266 | -€983 | -78.7% |
| Financial fixed assets | 28 | €93 | €93 | = | 0.0% |
| Current assets | 29/58 | €56,943 | €9,032 | -€47,911 | -84.1% |
| Amounts receivable within one year | 40/41 | €6,866 | €2,797 | -€4,068 | -59.3% |
| Trade receivables | 40 | €2,728 | €148 | -€2,580 | -94.6% |
| Other amounts receivable | 41 | €4,138 | €2,650 | -€1,488 | -36.0% |
| Cash at bank and in hand | 54/58 | €48,506 | €4,951 | -€43,555 | -89.8% |
| Deferred charges and accrued income | 490/1 | €1,571 | €1,284 | -€288 | -18.3% |
| Total equity and liabilities | 10/49 | €58,284 | €9,390 | -€48,894 | -83.9% |
| Equity | 10/15 | €25,622 | €8,809 | -€16,813 | -65.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €7,022 | €0 | -€7,022 | -100% |
| Distributable reserves | 133 | €7,022 | €0 | -€7,022 | -100% |
| Profit (loss) carried forward | 14 | €0 | -€9,791 | -€9,791 | |
| Amounts payable | 17/49 | €32,662 | €581 | -€32,081 | -98.2% |
| Amounts payable within one year | 42/48 | €32,662 | €581 | -€32,081 | -98.2% |
| Trade debts | 44 | €756 | €0 | -€756 | -100% |
| Suppliers | 440/4 | €756 | €0 | -€756 | -100% |
| Advances received on contracts in progress | 46 | - | €170 | +€170 | |
| Taxes, remuneration and social security | 45 | €11,761 | €246 | -€11,516 | -97.9% |
| Taxes | 450/3 | €11,761 | €246 | -€11,516 | -97.9% |
| Other amounts payable | 47/48 | €20,145 | €165 | -€19,979 | -99.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,759 | €983 | -€776 | -44.1% |
| Other operating charges | 640/8 | €520 | €527 | +€8 | +1.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €9,368 | -€15,172 | -€24,540 | |
| Operating profit (loss) | 9901 | €7,089 | -€16,682 | -€23,772 | |
| Financial income | 75/76B | €58 | €19 | -€39 | -67.1% |
| Recurring financial income | 75 | €58 | €19 | -€39 | -67.1% |
| Financial charges | 65/66B | €161 | €150 | -€11 | -6.9% |
| Recurring financial charges | 65 | €161 | €150 | -€11 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | €6,986 | -€16,813 | -€23,799 | |
| Income taxes | 67/77 | €862 | €0 | -€862 | -100% |
| Profit (loss) for the period | 9904 | €6,124 | -€16,813 | -€22,937 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,124 | -€16,813 | -€22,937 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.