Flexo: what changed
Flexo
Largest movements
- Cash -€498,877
down €498,877 (-73.6%), from €678,015 to €179,138
mainly Contributions, distributions and other (-€439,176) and Current investments (-€119,711)
- Current investments +€119,711
up €119,711 (+147%), from €81,280 to €200,992
- Deferred charges and accrued income +€36,134
up €36,134 (+1,730%), from €2,089 to €38,223
- Receivables after one year -€35,300
no longer reported in 2025 (was €35,300)
- Tangible fixed assets -€17,007
down €17,007 (-27.2%), from €62,572 to €45,565
of which Furniture and vehicles: -€16,286
- Reserves -€392,333
down €392,333 (-48.1%), from €815,581 to €423,248
- Gross operating margin -€96,711
down €96,711 (-52.8%), from €183,103 to €86,392
- Taxes -€29,338
down €29,338 (-67.7%), from €43,319 to €13,981
- Financial income -€17,075
down €17,075 (-89.3%), from €19,124 to €2,049
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 | €859,395 | €465,767 | -€393,627 | -45.8% |
| Fixed assets | 21/28 | €62,572 | €45,565 | -€17,007 | -27.2% |
| Tangible fixed assets | 22/27 | €62,572 | €45,565 | -€17,007 | -27.2% |
| Land and buildings | 22 | €2,339 | €1,618 | -€721 | -30.8% |
| Furniture and vehicles | 24 | €60,233 | €43,947 | -€16,286 | -27.0% |
| Current assets | 29/58 | €796,823 | €420,202 | -€376,620 | -47.3% |
| Amounts receivable after more than one year | 29 | €35,300 | - | -€35,300 | |
| Other amounts receivable | 291 | €35,300 | - | -€35,300 | |
| Amounts receivable within one year | 40/41 | €138 | €1,849 | +€1,712 | +1,243% |
| Other amounts receivable | 41 | €138 | €1,849 | +€1,712 | +1,243% |
| Current investments | 50/53 | €81,280 | €200,992 | +€119,711 | +147% |
| Cash at bank and in hand | 54/58 | €678,015 | €179,138 | -€498,877 | -73.6% |
| Deferred charges and accrued income | 490/1 | €2,089 | €38,223 | +€36,134 | +1,730% |
| Total equity and liabilities | 10/49 | €859,395 | €465,767 | -€393,627 | -45.8% |
| Equity | 10/15 | €818,581 | €426,248 | -€392,333 | -47.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €815,581 | €423,248 | -€392,333 | -48.1% |
| Distributable reserves | 133 | €815,581 | €423,248 | -€392,333 | -48.1% |
| Amounts payable | 17/49 | €40,813 | €39,520 | -€1,294 | -3.2% |
| Amounts payable within one year | 42/48 | €40,813 | €39,520 | -€1,294 | -3.2% |
| Trade debts | 44 | €1,907 | €38 | -€1,869 | -98.0% |
| Suppliers | 440/4 | €1,907 | €38 | -€1,869 | -98.0% |
| Taxes, remuneration and social security | 45 | €37,582 | €37,582 | +€1 | 0.0% |
| Taxes | 450/3 | €37,582 | €37,582 | +€1 | 0.0% |
| Other amounts payable | 47/48 | €1,325 | €1,900 | +€575 | +43.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,527 | €20,193 | -€334 | -1.6% |
| Other operating charges | 640/8 | €1,104 | €813 | -€291 | -26.4% |
| Non-recurring operating charges | 66A | - | €5,950 | +€5,950 | |
| Gross operating margin | 9900 | €183,103 | €86,392 | -€96,711 | -52.8% |
| Operating profit (loss) | 9901 | €161,472 | €59,436 | -€102,037 | -63.2% |
| Financial income | 75/76B | €19,124 | €2,049 | -€17,075 | -89.3% |
| Recurring financial income | 75 | €19,124 | €2,049 | -€17,075 | -89.3% |
| Financial charges | 65/66B | €135 | €661 | +€526 | +390% |
| Recurring financial charges | 65 | €135 | €661 | +€526 | +390% |
| Profit (loss) for the period before taxes | 9903 | €180,462 | €60,824 | -€119,638 | -66.3% |
| Income taxes | 67/77 | €43,319 | €13,981 | -€29,338 | -67.7% |
| Profit (loss) for the period | 9904 | €137,143 | €46,843 | -€90,300 | -65.8% |
| Profit (loss) for the period to be appropriated | 9905 | €137,143 | €46,843 | -€90,300 | -65.8% |
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 8 November 2026 via checked.be.