Fernand Speelt: what changed
Two fiscal 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.
Fernand Speelt
Largest movements
- Cash +€37,734
up €37,734 (+80.4%), from €46,941 to €84,676
mainly Net result for the year (+€37,552) and Trade debts (+€7,631)
- Receivables within one year +€5,406
up €5,406 (+134.3%), from €4,027 to €9,433
of which Trade receivables: +€6,831
- Deferred charges and accrued income +€4,414
new in 2025: €4,414
- Profit (loss) carried forward +€37,552
up €37,552 (+73.8%), from €50,859 to €88,411
- Trade debts +€7,631
up €7,631 (+6980.0%), from €109 to €7,741
- Accrued charges and deferred income +€2,371
new in 2025: €2,371
- Other operating charges -€50,713
no longer reported in 2025 (was €50,713)
- Turnover -€40,064
down €40,064 (-27.1%), from €147,944 to €107,880
- Gross operating margin -€24,203
down €24,203 (-39.1%), from €61,911 to €37,708
- Purchases and services +€16,488
up €16,488 (+17.4%), from €94,534 to €111,022
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.
Cash bridge derived
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 | €50,968 | €98,523 | +€47,555 | +93.3% |
| Current assets | 29/58 | €50,968 | €98,523 | +€47,555 | +93.3% |
| Amounts receivable within one year | 40/41 | €4,027 | €9,433 | +€5,406 | +134.3% |
| Trade receivables | 40 | - | €6,831 | +€6,831 | |
| Other amounts receivable | 41 | €4,027 | €2,601 | -€1,425 | -35.4% |
| Cash at bank and in hand | 54/58 | €46,941 | €84,676 | +€37,734 | +80.4% |
| Deferred charges and accrued income | 490/1 | - | €4,414 | +€4,414 | |
| Total equity and liabilities | 10/49 | €50,968 | €98,523 | +€47,555 | +93.3% |
| Equity | 10/15 | €50,859 | €88,411 | +€37,552 | +73.8% |
| Profit (loss) carried forward | 14 | €50,859 | €88,411 | +€37,552 | +73.8% |
| Amounts payable | 17/49 | €109 | €10,112 | +€10,002 | +9148.8% |
| Amounts payable within one year | 42/48 | €109 | €7,741 | +€7,631 | +6980.0% |
| Trade debts | 44 | €109 | €7,741 | +€7,631 | +6980.0% |
| Suppliers | 440/4 | €109 | €7,741 | +€7,631 | +6980.0% |
| Accrued charges and deferred income | 492/3 | - | €2,371 | +€2,371 | |
| Turnover | 70 | €147,944 | €107,880 | -€40,064 | -27.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €94,534 | €111,022 | +€16,488 | +17.4% |
| Other operating charges | 640/8 | €50,713 | - | -€50,713 | |
| Gross operating margin | 9900 | €61,911 | €37,708 | -€24,203 | -39.1% |
| Operating profit (loss) | 9901 | €11,198 | €37,708 | +€26,510 | +236.7% |
| Financial charges | 65/66B | €132 | €156 | +€24 | +18.2% |
| Recurring financial charges | 65 | €132 | €156 | +€24 | +18.2% |
| Profit (loss) for the period before taxes | 9903 | €11,066 | €37,552 | +€26,486 | +239.3% |
| Profit (loss) for the period | 9904 | €11,066 | €37,552 | +€26,486 | +239.3% |
| Profit (loss) for the period to be appropriated | 9905 | €11,066 | €37,552 | +€26,486 | +239.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.