Dr. VANDERSPICKKEN FREDERIQUE: 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. VANDERSPICKKEN FREDERIQUE
Largest movements
- Tangible fixed assets +€50,696
up €50,696 (+1,466%), from €3,459 to €54,154
- Intangible fixed assets -€20,000
down €20,000 (-21.8%), from €91,667 to €71,667
- Cash +€9,622
up €9,622 (+31.9%), from €30,160 to €39,782
mainly Net result for the year (+€61,720) and Other debts (+€53,651)
- Receivables within one year -€2,531
down €2,531 (-9.0%), from €27,977 to €25,446
- Other debts +€53,651
up €53,651 (+55.1%), from €97,408 to €151,059
- Debts after one year -€24,319
down €24,319 (-100%), from €24,319 to €0
- Trade debts +€12,245
up €12,245 (+1,130%), from €1,083 to €13,328
- Current portion of long-term debt -€4,680
down €4,680 (-16.1%), from €28,999 to €24,319
- Gross operating margin -€5,851
down €5,851 (-5.4%), from €108,127 to €102,276
- Taxes -€1,393
down €1,393 (-8.0%), from €17,402 to €16,009
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 | €162,487 | €199,077 | +€36,590 | +22.5% |
| Fixed assets | 21/28 | €95,125 | €125,821 | +€30,696 | +32.3% |
| Intangible fixed assets | 21 | €91,667 | €71,667 | -€20,000 | -21.8% |
| Tangible fixed assets | 22/27 | €3,459 | €54,154 | +€50,696 | +1,466% |
| Other tangible fixed assets | 26 | €3,459 | €54,154 | +€50,696 | +1,466% |
| Current assets | 29/58 | €67,362 | €73,256 | +€5,894 | +8.8% |
| Amounts receivable within one year | 40/41 | €27,977 | €25,446 | -€2,531 | -9.0% |
| Other amounts receivable | 41 | €27,977 | €25,446 | -€2,531 | -9.0% |
| Cash at bank and in hand | 54/58 | €30,160 | €39,782 | +€9,622 | +31.9% |
| Deferred charges and accrued income | 490/1 | €9,225 | €8,028 | -€1,197 | -13.0% |
| Total equity and liabilities | 10/49 | €162,487 | €199,077 | +€36,590 | +22.5% |
| Equity | 10/15 | €6,000 | €6,000 | = | 0.0% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €156,487 | €193,077 | +€36,590 | +23.4% |
| Amounts payable after more than one year | 17 | €24,319 | €0 | -€24,319 | -100% |
| Financial debts | 170/4 | €24,319 | €0 | -€24,319 | -100% |
| Amounts payable within one year | 42/48 | €132,168 | €193,077 | +€60,909 | +46.1% |
| Current portion of amounts payable after more than one year | 42 | €28,999 | €24,319 | -€4,680 | -16.1% |
| Financial debts | 43 | - | €1,177 | +€1,177 | |
| Credit institutions | 430/8 | - | €1,177 | +€1,177 | |
| Trade debts | 44 | €1,083 | €13,328 | +€12,245 | +1,130% |
| Suppliers | 440/4 | €1,083 | €13,328 | +€12,245 | +1,130% |
| Taxes, remuneration and social security | 45 | €4,677 | €3,194 | -€1,483 | -31.7% |
| Taxes | 450/3 | €4,677 | €3,194 | -€1,483 | -31.7% |
| Other amounts payable | 47/48 | €97,408 | €151,059 | +€53,651 | +55.1% |
| Remuneration, social security and pensions | 62 | €2,053 | €2,038 | -€15 | -0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,557 | €21,544 | +€987 | +4.8% |
| Other operating charges | 640/8 | €382 | €329 | -€53 | -13.9% |
| Gross operating margin | 9900 | €108,127 | €102,276 | -€5,851 | -5.4% |
| Operating profit (loss) | 9901 | €85,135 | €78,365 | -€6,770 | -8.0% |
| Financial income | 75/76B | €10 | €0 | -€10 | -100% |
| Recurring financial income | 75 | €10 | €0 | -€10 | -100% |
| Financial charges | 65/66B | €841 | €636 | -€206 | -24.4% |
| Recurring financial charges | 65 | €841 | €636 | -€206 | -24.4% |
| Profit (loss) for the period before taxes | 9903 | €84,304 | €77,729 | -€6,574 | -7.8% |
| Income taxes | 67/77 | €17,402 | €16,009 | -€1,393 | -8.0% |
| Profit (loss) for the period | 9904 | €66,901 | €61,720 | -€5,181 | -7.7% |
| Profit (loss) for the period to be appropriated | 9905 | €66,901 | €61,720 | -€5,181 | -7.7% |
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 21 October 2026 via checked.be.