FRANCOIS SAEYS: 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.
FRANCOIS SAEYS
Largest movements
- Receivables within one year +€62,726
up €62,726 (+355%), from €17,650 to €80,376
of which Trade receivables: +€49,079
- Tangible fixed assets -€3,000
down €3,000 (-25.0%), from €12,000 to €9,000
of which Furniture and vehicles: -€3,000
- Deferred charges and accrued income -€2,017
down €2,017 (-58.7%), from €3,436 to €1,419
- Accrued charges and deferred income +€30,555
new in 2025: €30,555
- Short-term financial debts +€11,946
up €11,946 (+1,671%), from €715 to €12,661
- Reserves +€9,123
up €9,123 (+157%), from €5,822 to €14,945
- Trade debts +€8,404
up €8,404, from €0 to €8,404
- Current portion of long-term debt -€6,997
down €6,997 (-84.2%), from €8,308 to €1,312
- Gross operating margin +€9,905
up €9,905 (+142%), from €6,989 to €16,894
- Taxes +€1,545
up €1,545 (+312%), from €496 to €2,041
- Other operating charges -€1,410
down €1,410 (-60.1%), from €2,347 to €938
- Financial charges +€349
up €349 (+22.5%), from €1,548 to €1,897
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €36,274 | €93,983 | +€57,709 | +159% |
| Fixed assets | 21/28 | €12,238 | €9,238 | -€3,000 | -24.5% |
| Tangible fixed assets | 22/27 | €12,000 | €9,000 | -€3,000 | -25.0% |
| Land and buildings | 22 | €0 | - | = | |
| Furniture and vehicles | 24 | €12,000 | €9,000 | -€3,000 | -25.0% |
| Financial fixed assets | 28 | €238 | €238 | = | 0.0% |
| Current assets | 29/58 | €24,036 | €84,745 | +€60,709 | +253% |
| Stocks and contracts in progress | 3 | €2,951 | €2,951 | = | 0.0% |
| Stocks | 30/36 | €2,951 | €2,951 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €17,650 | €80,376 | +€62,726 | +355% |
| Trade receivables | 40 | €3,437 | €52,516 | +€49,079 | +1,428% |
| Other amounts receivable | 41 | €14,213 | €27,860 | +€13,647 | +96.0% |
| Deferred charges and accrued income | 490/1 | €3,436 | €1,419 | -€2,017 | -58.7% |
| Total equity and liabilities | 10/49 | €36,274 | €93,983 | +€57,709 | +159% |
| Equity | 10/15 | €24,422 | €33,545 | +€9,123 | +37.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €5,822 | €14,945 | +€9,123 | +157% |
| Distributable reserves | 133 | €5,822 | €14,945 | +€9,123 | +157% |
| Amounts payable | 17/49 | €11,852 | €60,438 | +€48,586 | +410% |
| Amounts payable after more than one year | 17 | €655 | €0 | -€655 | -100% |
| Financial debts | 170/4 | €655 | €0 | -€655 | -100% |
| Amounts payable within one year | 42/48 | €11,198 | €29,883 | +€18,685 | +167% |
| Current portion of amounts payable after more than one year | 42 | €8,308 | €1,312 | -€6,997 | -84.2% |
| Financial debts | 43 | €715 | €12,661 | +€11,946 | +1,671% |
| Credit institutions | 430/8 | €715 | €12,661 | +€11,946 | +1,671% |
| Trade debts | 44 | €0 | €8,404 | +€8,404 | |
| Suppliers | 440/4 | €0 | €8,404 | +€8,404 | |
| Taxes, remuneration and social security | 45 | €2,175 | €7,506 | +€5,331 | +245% |
| Taxes | 450/3 | €2,175 | €7,506 | +€5,331 | +245% |
| Accrued charges and deferred income | 492/3 | - | €30,555 | +€30,555 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,003 | €3,000 | -€3 | -0.1% |
| Other operating charges | 640/8 | €2,347 | €938 | -€1,410 | -60.1% |
| Gross operating margin | 9900 | €6,989 | €16,894 | +€9,905 | +142% |
| Operating profit (loss) | 9901 | €1,639 | €12,956 | +€11,318 | +691% |
| Financial income | 75/76B | €89 | €105 | +€16 | +17.5% |
| Recurring financial income | 75 | €89 | €105 | +€16 | +17.5% |
| Financial charges | 65/66B | €1,548 | €1,897 | +€349 | +22.5% |
| Recurring financial charges | 65 | €1,548 | €1,897 | +€349 | +22.5% |
| Profit (loss) for the period before taxes | 9903 | €180 | €11,164 | +€10,984 | +6,119% |
| Income taxes | 67/77 | €496 | €2,041 | +€1,545 | +312% |
| Profit (loss) for the period | 9904 | -€316 | €9,123 | +€9,439 | |
| Profit (loss) for the period to be appropriated | 9905 | -€316 | €9,123 | +€9,439 |
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 29 October 2026 via checked.be.