FRANK SCHEEPERS: what changed
FRANK SCHEEPERS
Largest movements
- Tangible fixed assets +€289,665
up €289,665 (+60.4%), from €479,662 to €769,327
of which Land and buildings: +€303,059
- Cash +€85,075
up €85,075 (+277%), from €30,688 to €115,763
mainly Debts after one year (+€253,927) and Net result for the year (+€148,324)
- Receivables within one year +€52,529
up €52,529 (+938%), from €5,600 to €58,130
of which Other amounts receivable: +€45,333
- Debts after one year +€253,927
up €253,927 (+175%), from €145,345 to €399,273
- Reserves +€148,324
up €148,324 (+83.2%), from €178,319 to €326,643
- Current portion of long-term debt +€88,365
up €88,365 (+313%), from €28,260 to €116,625
- Tax, wage and social debts -€48,301
down €48,301 (-79.4%), from €60,868 to €12,567
of which Taxes: -€46,901
- Trade debts -€24,501
down €24,501 (-77.9%), from €31,446 to €6,944
- Gross operating margin +€86,041
up €86,041 (+39.7%), from €216,850 to €302,891
- Taxes +€32,599
up €32,599 (+55.8%), from €58,377 to €90,976
- Depreciation +€16,751
up €16,751 (+54.5%), from €30,753 to €47,504
- Financial charges +€10,703
up €10,703 (+216%), from €4,965 to €15,669
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €515,950 | €943,323 | +€427,372 | +82.8% |
| Fixed assets | 21/28 | €479,662 | €769,327 | +€289,665 | +60.4% |
| Tangible fixed assets | 22/27 | €479,662 | €769,327 | +€289,665 | +60.4% |
| Land and buildings | 22 | €376,374 | €679,433 | +€303,059 | +80.5% |
| Plant, machinery and equipment | 23 | €1,778 | €1,338 | -€440 | -24.7% |
| Furniture and vehicles | 24 | €101,510 | €88,556 | -€12,954 | -12.8% |
| Current assets | 29/58 | €36,289 | €173,996 | +€137,707 | +379% |
| Amounts receivable within one year | 40/41 | €5,600 | €58,130 | +€52,529 | +938% |
| Trade receivables | 40 | €4,583 | €11,779 | +€7,196 | +157% |
| Other amounts receivable | 41 | €1,018 | €46,351 | +€45,333 | +4,454% |
| Cash at bank and in hand | 54/58 | €30,688 | €115,763 | +€85,075 | +277% |
| Deferred charges and accrued income | 490/1 | - | €103 | +€103 | |
| Total equity and liabilities | 10/49 | €515,950 | €943,323 | +€427,372 | +82.8% |
| Equity | 10/15 | €179,319 | €327,643 | +€148,324 | +82.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €178,319 | €326,643 | +€148,324 | +83.2% |
| Distributable reserves | 133 | €178,319 | €326,643 | +€148,324 | +83.2% |
| Amounts payable | 17/49 | €336,631 | €615,679 | +€279,049 | +82.9% |
| Amounts payable after more than one year | 17 | €145,345 | €399,273 | +€253,927 | +175% |
| Financial debts | 170/4 | €145,345 | €399,273 | +€253,927 | +175% |
| Amounts payable within one year | 42/48 | €191,286 | €216,304 | +€25,018 | +13.1% |
| Current portion of amounts payable after more than one year | 42 | €28,260 | €116,625 | +€88,365 | +313% |
| Financial debts | 43 | - | €9,312 | +€9,312 | |
| Credit institutions | 430/8 | - | €9,312 | +€9,312 | |
| Trade debts | 44 | €31,446 | €6,944 | -€24,501 | -77.9% |
| Suppliers | 440/4 | €31,446 | €6,944 | -€24,501 | -77.9% |
| Taxes, remuneration and social security | 45 | €60,868 | €12,567 | -€48,301 | -79.4% |
| Taxes | 450/3 | €59,468 | €12,567 | -€46,901 | -78.9% |
| Remuneration and social security | 454/9 | €1,400 | - | -€1,400 | |
| Other amounts payable | 47/48 | €70,712 | €70,855 | +€143 | +0.2% |
| Accrued charges and deferred income | 492/3 | - | €103 | +€103 | |
| Non-recurring operating income | 76A | - | €656 | +€656 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,753 | €47,504 | +€16,751 | +54.5% |
| Other operating charges | 640/8 | €519 | €618 | +€100 | +19.2% |
| Non-recurring operating charges | 66A | €53 | - | -€53 | |
| Gross operating margin | 9900 | €216,850 | €302,891 | +€86,041 | +39.7% |
| Operating profit (loss) | 9901 | €185,525 | €254,769 | +€69,244 | +37.3% |
| Financial income | 75/76B | €4 | €199 | +€195 | +4,764% |
| Recurring financial income | 75 | €4 | €199 | +€195 | +4,764% |
| Financial charges | 65/66B | €4,965 | €15,669 | +€10,703 | +216% |
| Recurring financial charges | 65 | €4,965 | €15,669 | +€10,703 | +216% |
| Profit (loss) for the period before taxes | 9903 | €180,564 | €239,300 | +€58,736 | +32.5% |
| Income taxes | 67/77 | €58,377 | €90,976 | +€32,599 | +55.8% |
| Profit (loss) for the period | 9904 | €122,187 | €148,324 | +€26,137 | +21.4% |
| Profit (loss) for the period to be appropriated | 9905 | €122,187 | €148,324 | +€26,137 | +21.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.