FABIO DE CLERCQ: 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.
FABIO DE CLERCQ
Largest movements
- Cash +€288,416
up €288,416 (+11.3%), from €2.6m to €2.9m
mainly Net result for the year (+€341,428) and Depreciation (+€12,375)
- Current investments +€70,403
up €70,403 (+7.4%), from €956,578 to €1.0m
- Profit (loss) carried forward +€241,428
up €241,428 (+8.3%), from €2.9m to €3.2m
- Reserves +€100,000
up €100,000 (+13.3%), from €753,000 to €853,000
- Gross operating margin +€51,641
up €51,641 (+15.2%), from €339,956 to €391,597
- Financial income +€39,714
up €39,714 (+81.1%), from €48,941 to €88,656
- Taxes +€18,984
up €18,984 (+18.5%), from €102,805 to €121,789
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,731,766 | €4,078,224 | +€346,458 | +9.3% |
| Fixed assets | 21/28 | €211,875 | €199,500 | -€12,375 | -5.8% |
| Tangible fixed assets | 22/27 | €211,875 | €199,500 | -€12,375 | -5.8% |
| Land and buildings | 22 | €211,875 | €199,500 | -€12,375 | -5.8% |
| Current assets | 29/58 | €3,519,891 | €3,878,724 | +€358,833 | +10.2% |
| Amounts receivable after more than one year | 29 | - | €100 | +€100 | |
| Other amounts receivable | 291 | - | €100 | +€100 | |
| Amounts receivable within one year | 40/41 | €86 | - | -€86 | |
| Other amounts receivable | 41 | €86 | - | -€86 | |
| Current investments | 50/53 | €956,578 | €1,026,980 | +€70,403 | +7.4% |
| Cash at bank and in hand | 54/58 | €2,563,228 | €2,851,643 | +€288,416 | +11.3% |
| Total equity and liabilities | 10/49 | €3,731,766 | €4,078,224 | +€346,458 | +9.3% |
| Equity | 10/15 | €3,705,033 | €4,046,461 | +€341,428 | +9.2% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €753,000 | €853,000 | +€100,000 | +13.3% |
| Non-distributable reserves | 130/1 | €753,000 | €853,000 | +€100,000 | +13.3% |
| Reserves not available under the articles | 1311 | €3,000 | €3,000 | = | 0.0% |
| Other | 1319 | €750,000 | €850,000 | +€100,000 | +13.3% |
| Profit (loss) carried forward | 14 | €2,922,033 | €3,163,461 | +€241,428 | +8.3% |
| Amounts payable | 17/49 | €26,733 | €31,763 | +€5,030 | +18.8% |
| Amounts payable within one year | 42/48 | €25,124 | €30,142 | +€5,018 | +20.0% |
| Trade debts | 44 | €6,263 | €6,440 | +€176 | +2.8% |
| Suppliers | 440/4 | €6,263 | €6,440 | +€176 | +2.8% |
| Taxes, remuneration and social security | 45 | €14,861 | €19,703 | +€4,842 | +32.6% |
| Taxes | 450/3 | €14,861 | €19,703 | +€4,842 | +32.6% |
| Other amounts payable | 47/48 | €4,000 | €4,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,608 | €1,620 | +€12 | +0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,375 | €12,375 | = | 0.0% |
| Other operating charges | 640/8 | €5,100 | €4,432 | -€668 | -13.1% |
| Gross operating margin | 9900 | €339,956 | €391,597 | +€51,641 | +15.2% |
| Operating profit (loss) | 9901 | €322,481 | €374,790 | +€52,309 | +16.2% |
| Financial income | 75/76B | €48,941 | €88,656 | +€39,714 | +81.1% |
| Recurring financial income | 75 | €48,941 | €88,656 | +€39,714 | +81.1% |
| Financial charges | 65/66B | €193 | €229 | +€36 | +18.5% |
| Recurring financial charges | 65 | €193 | €229 | +€36 | +18.5% |
| Profit (loss) for the period before taxes | 9903 | €371,229 | €463,217 | +€91,988 | +24.8% |
| Income taxes | 67/77 | €102,805 | €121,789 | +€18,984 | +18.5% |
| Profit (loss) for the period | 9904 | €268,424 | €341,428 | +€73,004 | +27.2% |
| Profit (loss) for the period to be appropriated | 9905 | €268,424 | €341,428 | +€73,004 | +27.2% |
Source: filed annual accounts (NBB), financial years ended 30 April 2025 and 30 April 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.