DR. SVEN FRANCQUE: 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.
DR. SVEN FRANCQUE
Largest movements
- Receivables within one year -€29,124
down €29,124 (-94.9%), from €30,683 to €1,559
of which Other amounts receivable: -€18,827
- Current investments +€25,468
up €25,468 (+11.6%), from €220,092 to €245,560
- Cash +€22,775
up €22,775 (+72.3%), from €31,503 to €54,278
mainly Net result for the year (+€74,481) and Receivables within one year (+€29,124)
- Deferred charges and accrued income -€4,350
down €4,350 (-84.5%), from €5,150 to €800
- Tax, wage and social debts +€13,002
up €13,002 (+174%), from €7,454 to €20,456
- Trade debts +€6,183
up €6,183 (+124%), from €4,979 to €11,162
- Gross operating margin -€6,758
down €6,758 (-5.6%), from €120,894 to €114,136
- Financial income +€6,301
up €6,301 (+115%), from €5,494 to €11,794
- Taxes +€5,181
up €5,181 (+14.9%), from €34,822 to €40,002
- Other operating charges -€2,988
down €2,988 (-49.0%), from €6,103 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 | €296,745 | €311,883 | +€15,138 | +5.1% |
| Fixed assets | 21/28 | €9,318 | €9,686 | +€368 | +4.0% |
| Tangible fixed assets | 22/27 | €9,318 | €9,686 | +€368 | +4.0% |
| Land and buildings | 22 | €0 | - | = | |
| Furniture and vehicles | 24 | €9,318 | €9,686 | +€368 | +4.0% |
| Current assets | 29/58 | €287,427 | €302,196 | +€14,769 | +5.1% |
| Amounts receivable within one year | 40/41 | €30,683 | €1,559 | -€29,124 | -94.9% |
| Trade receivables | 40 | €11,751 | €1,455 | -€10,297 | -87.6% |
| Other amounts receivable | 41 | €18,931 | €104 | -€18,827 | -99.5% |
| Current investments | 50/53 | €220,092 | €245,560 | +€25,468 | +11.6% |
| Cash at bank and in hand | 54/58 | €31,503 | €54,278 | +€22,775 | +72.3% |
| Deferred charges and accrued income | 490/1 | €5,150 | €800 | -€4,350 | -84.5% |
| Total equity and liabilities | 10/49 | €296,745 | €311,883 | +€15,138 | +5.1% |
| Equity | 10/15 | €281,741 | €279,488 | -€2,253 | -0.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €269,341 | €267,088 | -€2,253 | -0.8% |
| Distributable reserves | 133 | €269,341 | €267,088 | -€2,253 | -0.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €15,004 | €32,395 | +€17,391 | +116% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €15,004 | €32,395 | +€17,391 | +116% |
| Current portion of amounts payable after more than one year | 42 | €930 | €0 | -€930 | -100% |
| Financial debts | 43 | €1,641 | €564 | -€1,077 | -65.6% |
| Credit institutions | 430/8 | €1,641 | €564 | -€1,077 | -65.6% |
| Trade debts | 44 | €4,979 | €11,162 | +€6,183 | +124% |
| Suppliers | 440/4 | €4,979 | €11,162 | +€6,183 | +124% |
| Taxes, remuneration and social security | 45 | €7,454 | €20,456 | +€13,002 | +174% |
| Taxes | 450/3 | €7,454 | €20,456 | +€13,002 | +174% |
| Other amounts payable | 47/48 | - | €212 | +€212 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €182 | €1,104 | +€921 | +506% |
| Other operating charges | 640/8 | €6,103 | €3,115 | -€2,988 | -49.0% |
| Non-recurring operating charges | 66A | €23,257 | €0 | -€23,257 | -100% |
| Gross operating margin | 9900 | €120,894 | €114,136 | -€6,758 | -5.6% |
| Operating profit (loss) | 9901 | €91,352 | €109,918 | +€18,566 | +20.3% |
| Financial income | 75/76B | €5,494 | €11,794 | +€6,301 | +115% |
| Recurring financial income | 75 | €5,494 | €11,794 | +€6,301 | +115% |
| Financial charges | 65/66B | €6,933 | €7,228 | +€295 | +4.3% |
| Recurring financial charges | 65 | €6,933 | €7,228 | +€295 | +4.3% |
| Profit (loss) for the period before taxes | 9903 | €89,912 | €114,484 | +€24,571 | +27.3% |
| Income taxes | 67/77 | €34,822 | €40,002 | +€5,181 | +14.9% |
| Profit (loss) for the period | 9904 | €55,091 | €74,481 | +€19,391 | +35.2% |
| Profit (loss) for the period to be appropriated | 9905 | €55,091 | €74,481 | +€19,391 | +35.2% |
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 30 October 2026 via checked.be.