FRANCK DUVET: 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.
FRANCK DUVET
Largest movements
- Cash +€45,545
up €45,545 (+27.5%), from €165,634 to €211,179
mainly Depreciation (+€52,007) and Other debts (+€45,891)
- Tangible fixed assets -€40,568
down €40,568 (-18.1%), from €224,151 to €183,583
of which Furniture and vehicles: -€28,047
- Stocks and contracts -€14,260
down €14,260 (-36.4%), from €39,161 to €24,901
- Reserves -€72,500
down €72,500 (-23.3%), from €311,800 to €239,300
of which Distributable reserves: -€72,500
- Other debts +€45,891
up €45,891 (+172.5%), from €26,609 to €72,500
- Trade debts +€14,215
up €14,215 (+106.2%), from €13,382 to €27,597
- Profit (loss) carried forward +€10,410
new in 2025: €10,410
- Current portion of long-term debt -€6,891
no longer reported in 2025 (was €6,891)
- Staff costs +€39,077
up €39,077 (+30.2%), from €129,250 to €168,327
- Gross operating margin -€21,874
down €21,874 (-8.2%), from €267,214 to €245,339
- Taxes -€12,204
down €12,204 (-56.9%), from €21,453 to €9,249
- Financial income +€5,903
up €5,903 (+821.4%), from €719 to €6,622
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 | €454,317 | €443,731 | -€10,586 | -2.3% |
| Fixed assets | 21/28 | €224,275 | €183,707 | -€40,568 | -18.1% |
| Tangible fixed assets | 22/27 | €224,151 | €183,583 | -€40,568 | -18.1% |
| Land and buildings | 22 | €124,805 | €120,825 | -€3,980 | -3.2% |
| Plant, machinery and equipment | 23 | €31,989 | €23,448 | -€8,541 | -26.7% |
| Furniture and vehicles | 24 | €67,357 | €39,310 | -€28,047 | -41.6% |
| Financial fixed assets | 28 | €124 | €124 | = | 0.0% |
| Current assets | 29/58 | €230,042 | €260,024 | +€29,982 | +13.0% |
| Stocks and contracts in progress | 3 | €39,161 | €24,901 | -€14,260 | -36.4% |
| Stocks | 30/36 | €39,161 | €24,901 | -€14,260 | -36.4% |
| Amounts receivable within one year | 40/41 | €21,478 | €20,094 | -€1,384 | -6.4% |
| Trade receivables | 40 | €3,733 | €7,963 | +€4,231 | +113.3% |
| Other amounts receivable | 41 | €17,745 | €12,131 | -€5,614 | -31.6% |
| Cash at bank and in hand | 54/58 | €165,634 | €211,179 | +€45,545 | +27.5% |
| Deferred charges and accrued income | 490/1 | €3,769 | €3,850 | +€82 | +2.2% |
| Total equity and liabilities | 10/49 | €454,317 | €443,731 | -€10,586 | -2.3% |
| Equity | 10/15 | €373,800 | €311,710 | -€62,090 | -16.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €311,800 | €239,300 | -€72,500 | -23.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €305,600 | €233,100 | -€72,500 | -23.7% |
| Profit (loss) carried forward | 14 | - | €10,410 | +€10,410 | |
| Amounts payable | 17/49 | €80,517 | €132,021 | +€51,504 | +64.0% |
| Amounts payable within one year | 42/48 | €80,517 | €132,021 | +€51,504 | +64.0% |
| Current portion of amounts payable after more than one year | 42 | €6,891 | - | -€6,891 | |
| Trade debts | 44 | €13,382 | €27,597 | +€14,215 | +106.2% |
| Suppliers | 440/4 | €13,382 | €27,597 | +€14,215 | +106.2% |
| Taxes, remuneration and social security | 45 | €33,636 | €31,924 | -€1,712 | -5.1% |
| Taxes | 450/3 | €13,996 | €12,135 | -€1,861 | -13.3% |
| Remuneration and social security | 454/9 | €19,640 | €19,789 | +€149 | +0.8% |
| Other amounts payable | 47/48 | €26,609 | €72,500 | +€45,891 | +172.5% |
| Remuneration, social security and pensions | 62 | €129,250 | €168,327 | +€39,077 | +30.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,817 | €52,007 | +€190 | +0.4% |
| Other operating charges | 640/8 | €8,272 | €7,101 | -€1,171 | -14.2% |
| Gross operating margin | 9900 | €267,214 | €245,339 | -€21,874 | -8.2% |
| Operating profit (loss) | 9901 | €77,874 | €17,904 | -€59,970 | -77.0% |
| Financial income | 75/76B | €719 | €6,622 | +€5,903 | +821.4% |
| Recurring financial income | 75 | €719 | €6,622 | +€5,903 | +821.4% |
| Financial charges | 65/66B | €4,989 | €4,866 | -€123 | -2.5% |
| Recurring financial charges | 65 | €4,989 | €4,866 | -€123 | -2.5% |
| Profit (loss) for the period before taxes | 9903 | €73,604 | €19,660 | -€53,944 | -73.3% |
| Income taxes | 67/77 | €21,453 | €9,249 | -€12,204 | -56.9% |
| Profit (loss) for the period | 9904 | €52,150 | €10,410 | -€41,740 | -80.0% |
| Profit (loss) for the period to be appropriated | 9905 | €52,150 | €10,410 | -€41,740 | -80.0% |
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 7 October 2026 via checked.be.