Fran Caeyers: 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.
Fran Caeyers
Largest movements
- Cash +€15,334
up €15,334 (+69.4%), from €22,094 to €37,428
mainly Net result for the year (+€21,851) and Tax, wage and social debts (+€6,802)
- Receivables after one year +€12,246
new in 2025: €12,246
- Receivables within one year -€2,194
down €2,194 (-78.6%), from €2,792 to €598
- Deferred charges and accrued income +€1,192
up €1,192 (+737%), from €162 to €1,353
- Reserves +€21,851
up €21,851 (+130%), from €16,873 to €38,724
- Tax, wage and social debts +€6,802
up €6,802 (+94.9%), from €7,165 to €13,967
of which Taxes: +€6,802
- Other debts -€1,824
down €1,824 (-100%), from €1,824 to €0
- Gross operating margin +€11,730
up €11,730 (+56.0%), from €20,960 to €32,690
- Taxes +€3,136
up €3,136 (+57.9%), from €5,416 to €8,552
- Other operating charges -€416
down €416 (-44.5%), from €936 to €520
- Depreciation +€367
up €367 (+28.3%), from €1,299 to €1,666
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 | €31,839 | €58,746 | +€26,907 | +84.5% |
| Fixed assets | 21/28 | €6,791 | €7,120 | +€329 | +4.8% |
| Tangible fixed assets | 22/27 | €6,791 | €7,120 | +€329 | +4.8% |
| Land and buildings | 22 | €2,178 | €1,452 | -€726 | -33.3% |
| Plant, machinery and equipment | 23 | €4,613 | €5,668 | +€1,055 | +22.9% |
| Current assets | 29/58 | €25,048 | €51,626 | +€26,578 | +106% |
| Amounts receivable after more than one year | 29 | - | €12,246 | +€12,246 | |
| Other amounts receivable | 291 | - | €12,246 | +€12,246 | |
| Amounts receivable within one year | 40/41 | €2,792 | €598 | -€2,194 | -78.6% |
| Trade receivables | 40 | €2,792 | €598 | -€2,194 | -78.6% |
| Cash at bank and in hand | 54/58 | €22,094 | €37,428 | +€15,334 | +69.4% |
| Deferred charges and accrued income | 490/1 | €162 | €1,353 | +€1,192 | +737% |
| Total equity and liabilities | 10/49 | €31,839 | €58,746 | +€26,907 | +84.5% |
| Equity | 10/15 | €20,873 | €42,724 | +€21,851 | +105% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €16,873 | €38,724 | +€21,851 | +130% |
| Distributable reserves | 133 | €16,873 | €38,724 | +€21,851 | +130% |
| Amounts payable | 17/49 | €10,966 | €16,022 | +€5,057 | +46.1% |
| Amounts payable within one year | 42/48 | €10,966 | €16,022 | +€5,057 | +46.1% |
| Trade debts | 44 | €1,977 | €2,055 | +€78 | +3.9% |
| Suppliers | 440/4 | €1,977 | €2,055 | +€78 | +3.9% |
| Taxes, remuneration and social security | 45 | €7,165 | €13,967 | +€6,802 | +94.9% |
| Taxes | 450/3 | €7,165 | €13,967 | +€6,802 | +94.9% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,824 | €0 | -€1,824 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,299 | €1,666 | +€367 | +28.3% |
| Other operating charges | 640/8 | €936 | €520 | -€416 | -44.5% |
| Gross operating margin | 9900 | €20,960 | €32,690 | +€11,730 | +56.0% |
| Operating profit (loss) | 9901 | €18,725 | €30,504 | +€11,779 | +62.9% |
| Financial income | 75/76B | €0 | €33 | +€33 | |
| Recurring financial income | 75 | €0 | €33 | +€33 | |
| Financial charges | 65/66B | €179 | €134 | -€45 | -24.9% |
| Recurring financial charges | 65 | €179 | €134 | -€45 | -24.9% |
| Profit (loss) for the period before taxes | 9903 | €18,547 | €30,403 | +€11,856 | +63.9% |
| Income taxes | 67/77 | €5,416 | €8,552 | +€3,136 | +57.9% |
| Profit (loss) for the period | 9904 | €13,131 | €21,851 | +€8,720 | +66.4% |
| Profit (loss) for the period to be appropriated | 9905 | €13,131 | €21,851 | +€8,720 | +66.4% |
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 15 October 2026 via checked.be.