Dirk Fastenaekels: 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.
Dirk Fastenaekels
Largest movements
- Receivables within one year +€28,075
up €28,075 (+9.4%), from €299,111 to €327,185
of which Trade receivables: +€15,000
- Other debts +€31,156
up €31,156 (+28.2%), from €110,497 to €141,653
- Reserves -€4,577
down €4,577 (-2.4%), from €191,098 to €186,521
of which Distributable reserves: -€2,717
- Gross operating margin -€56,382
down €56,382 (-86.3%), from €65,363 to €8,981
- Financial income -€9,065
down €9,065 (-41.1%), from €22,042 to €12,977
- Financial charges -€7,252
down €7,252 (-96.7%), from €7,502 to €250
- Other operating charges +€5,003
up €5,003 (+1,301%), from €384 to €5,387
- Taxes +€3,115
up €3,115, from €0 to €3,115
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 | €316,329 | €343,363 | +€27,034 | +8.5% |
| Fixed assets | 21/28 | €11,011 | €8,203 | -€2,809 | -25.5% |
| Tangible fixed assets | 22/27 | €11,011 | €8,203 | -€2,809 | -25.5% |
| Furniture and vehicles | 24 | €11,011 | €8,203 | -€2,809 | -25.5% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €305,318 | €335,160 | +€29,843 | +9.8% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €299,111 | €327,185 | +€28,075 | +9.4% |
| Trade receivables | 40 | €7,074 | €22,074 | +€15,000 | +212% |
| Other amounts receivable | 41 | €292,037 | €305,112 | +€13,075 | +4.5% |
| Cash at bank and in hand | 54/58 | €89 | €2,027 | +€1,938 | +2,173% |
| Deferred charges and accrued income | 490/1 | €6,118 | €5,948 | -€170 | -2.8% |
| Total equity and liabilities | 10/49 | €316,329 | €343,363 | +€27,034 | +8.5% |
| Equity | 10/15 | €197,298 | €192,721 | -€4,577 | -2.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €191,098 | €186,521 | -€4,577 | -2.4% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €189,238 | €186,521 | -€2,717 | -1.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €119,031 | €150,642 | +€31,610 | +26.6% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €113,157 | €144,768 | +€31,610 | +27.9% |
| Trade debts | 44 | €2,661 | €0 | -€2,661 | -100% |
| Suppliers | 440/4 | €2,661 | €0 | -€2,661 | -100% |
| Taxes, remuneration and social security | 45 | €0 | €3,115 | +€3,115 | |
| Taxes | 450/3 | €0 | €3,115 | +€3,115 | |
| Other amounts payable | 47/48 | €110,497 | €141,653 | +€31,156 | +28.2% |
| Accrued charges and deferred income | 492/3 | €5,874 | €5,874 | = | 0.0% |
| Non-recurring operating income | 76A | €77,460 | €0 | -€77,460 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,809 | €2,809 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,331 | €0 | -€1,331 | -100% |
| Other operating charges | 640/8 | €384 | €5,387 | +€5,003 | +1,301% |
| Gross operating margin | 9900 | €65,363 | €8,981 | -€56,382 | -86.3% |
| Operating profit (loss) | 9901 | €60,839 | €785 | -€60,054 | -98.7% |
| Financial income | 75/76B | €22,042 | €12,977 | -€9,065 | -41.1% |
| Recurring financial income | 75 | €22,042 | €12,977 | -€9,065 | -41.1% |
| Financial charges | 65/66B | €7,502 | €250 | -€7,252 | -96.7% |
| Recurring financial charges | 65 | €7,502 | €250 | -€7,252 | -96.7% |
| Profit (loss) for the period before taxes | 9903 | €75,379 | €13,511 | -€61,868 | -82.1% |
| Income taxes | 67/77 | €0 | €3,115 | +€3,115 | |
| Profit (loss) for the period | 9904 | €75,379 | €10,397 | -€64,983 | -86.2% |
| Profit (loss) for the period to be appropriated | 9905 | €75,379 | €10,397 | -€64,983 | -86.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.