FLEMASJ: 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.
FLEMASJ
Largest movements
- Current investments +€31,124
new in 2025: €31,124
- Receivables within one year -€15,423
down €15,423 (-77.6%), from €19,863 to €4,440
of which Trade receivables: -€15,156
- Cash -€14,791
down €14,791 (-19.5%), from €75,769 to €60,978
mainly Contributions, distributions and other (-€40,436) and Current investments (-€31,124)
- Deferred charges and accrued income -€14,596
down €14,596 (-42.5%), from €34,349 to €19,753
- Tangible fixed assets -€11,719
down €11,719 (-7.3%), from €161,155 to €149,436
of which Land and buildings: -€10,896
- Debts after one year -€16,341
down €16,341 (-32.2%), from €50,716 to €34,375
- Reserves -€16,330
down €16,330 (-16.7%), from €97,655 to €81,326
of which Distributable reserves: -€16,330
- Other debts +€6,469
up €6,469 (+11.9%), from €54,454 to €60,922
- Trade debts +€6,049
up €6,049 (+125%), from €4,850 to €10,899
- Current portion of long-term debt -€5,297
down €5,297 (-24.5%), from €21,638 to €16,341
- Gross operating margin -€11,362
down €11,362 (-14.4%), from €78,822 to €67,460
- Taxes +€5,589
up €5,589 (+118%), from €4,733 to €10,322
- Depreciation -€1,872
down €1,872 (-7.0%), from €26,575 to €24,703
- Financial charges -€1,269
down €1,269 (-14.6%), from €8,666 to €7,397
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 | €291,136 | €265,731 | -€25,405 | -8.7% |
| Fixed assets | 21/28 | €161,155 | €149,436 | -€11,719 | -7.3% |
| Tangible fixed assets | 22/27 | €161,155 | €149,436 | -€11,719 | -7.3% |
| Land and buildings | 22 | €87,166 | €76,270 | -€10,896 | -12.5% |
| Plant, machinery and equipment | 23 | €73,498 | €73,166 | -€331 | -0.5% |
| Furniture and vehicles | 24 | €492 | - | -€492 | |
| Current assets | 29/58 | €129,980 | €116,295 | -€13,686 | -10.5% |
| Amounts receivable within one year | 40/41 | €19,863 | €4,440 | -€15,423 | -77.6% |
| Trade receivables | 40 | €19,596 | €4,440 | -€15,156 | -77.3% |
| Other amounts receivable | 41 | €267 | - | -€267 | |
| Current investments | 50/53 | - | €31,124 | +€31,124 | |
| Cash at bank and in hand | 54/58 | €75,769 | €60,978 | -€14,791 | -19.5% |
| Deferred charges and accrued income | 490/1 | €34,349 | €19,753 | -€14,596 | -42.5% |
| Total equity and liabilities | 10/49 | €291,136 | €265,731 | -€25,405 | -8.7% |
| Equity | 10/15 | €141,622 | €125,292 | -€16,330 | -11.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €97,655 | €81,326 | -€16,330 | -16.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €95,795 | €79,466 | -€16,330 | -17.0% |
| Profit (loss) carried forward | 14 | €31,567 | €31,567 | = | 0.0% |
| Amounts payable | 17/49 | €149,514 | €140,439 | -€9,075 | -6.1% |
| Amounts payable after more than one year | 17 | €50,716 | €34,375 | -€16,341 | -32.2% |
| Financial debts | 170/4 | €50,716 | €34,375 | -€16,341 | -32.2% |
| Amounts payable within one year | 42/48 | €92,696 | €99,948 | +€7,252 | +7.8% |
| Current portion of amounts payable after more than one year | 42 | €21,638 | €16,341 | -€5,297 | -24.5% |
| Trade debts | 44 | €4,850 | €10,899 | +€6,049 | +125% |
| Suppliers | 440/4 | €4,850 | €10,899 | +€6,049 | +125% |
| Taxes, remuneration and social security | 45 | €11,754 | €11,785 | +€31 | +0.3% |
| Taxes | 450/3 | €11,754 | €11,785 | +€31 | +0.3% |
| Other amounts payable | 47/48 | €54,454 | €60,922 | +€6,469 | +11.9% |
| Accrued charges and deferred income | 492/3 | €6,102 | €6,116 | +€14 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,575 | €24,703 | -€1,872 | -7.0% |
| Other operating charges | 640/8 | €1,236 | €1,109 | -€127 | -10.2% |
| Non-recurring operating charges | 66A | €33,284 | - | -€33,284 | |
| Gross operating margin | 9900 | €78,822 | €67,460 | -€11,362 | -14.4% |
| Operating profit (loss) | 9901 | €17,727 | €41,647 | +€23,920 | +135% |
| Financial income | 75/76B | €0 | €178 | +€178 | +44,383% |
| Recurring financial income | 75 | €0 | €178 | +€178 | +44,383% |
| Financial charges | 65/66B | €8,666 | €7,397 | -€1,269 | -14.6% |
| Recurring financial charges | 65 | €8,666 | €7,397 | -€1,269 | -14.6% |
| Profit (loss) for the period before taxes | 9903 | €9,061 | €34,428 | +€25,367 | +280% |
| Income taxes | 67/77 | €4,733 | €10,322 | +€5,589 | +118% |
| Profit (loss) for the period | 9904 | €4,328 | €24,106 | +€19,778 | +457% |
| Profit (loss) for the period to be appropriated | 9905 | €4,328 | €24,106 | +€19,778 | +457% |
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 28 October 2026 via checked.be.