FRANK SCHOUTEDEN: what changed
FRANK SCHOUTEDEN
Largest movements
- Tangible fixed assets -€23,635
down €23,635 (-7.2%), from €328,822 to €305,187
of which Land and buildings: -€26,367
- Cash -€21,465
down €21,465 (-22.2%), from €96,708 to €75,243
mainly Short-term financial debts (-€50,000) and Contributions, distributions and other (-€46,500)
- Current investments +€12,766
up €12,766 (+14.1%), from €90,500 to €103,267
- Short-term financial debts -€50,000
no longer reported in 2025 (was €50,000)
- Debts after one year -€23,241
down €23,241 (-15.9%), from €146,419 to €123,177
- Other debts +€14,942
up €14,942 (+70.9%), from €21,086 to €36,028
- Reserves +€12,500
up €12,500 (+5.3%), from €234,760 to €247,260
of which Distributable reserves: +€12,500
- Tax, wage and social debts +€6,634
up €6,634 (+255%), from €2,605 to €9,239
- Gross operating margin +€18,489
up €18,489 (+18.1%), from €101,915 to €120,404
- Taxes +€6,312
up €6,312 (+31.8%), from €19,821 to €26,134
- Depreciation -€1,910
down €1,910 (-6.3%), from €30,171 to €28,261
- Financial income +€1,502
up €1,502 (+117%), from €1,283 to €2,785
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 | €524,153 | €490,158 | -€33,995 | -6.5% |
| Fixed assets | 21/28 | €328,822 | €305,187 | -€23,635 | -7.2% |
| Tangible fixed assets | 22/27 | €328,822 | €305,187 | -€23,635 | -7.2% |
| Land and buildings | 22 | €326,629 | €300,262 | -€26,367 | -8.1% |
| Furniture and vehicles | 24 | €2,193 | €4,925 | +€2,732 | +125% |
| Current assets | 29/58 | €195,331 | €184,971 | -€10,360 | -5.3% |
| Amounts receivable within one year | 40/41 | €7,128 | €6,462 | -€667 | -9.4% |
| Trade receivables | 40 | €1,203 | €4,867 | +€3,664 | +305% |
| Other amounts receivable | 41 | €5,926 | €1,595 | -€4,331 | -73.1% |
| Current investments | 50/53 | €90,500 | €103,267 | +€12,766 | +14.1% |
| Cash at bank and in hand | 54/58 | €96,708 | €75,243 | -€21,465 | -22.2% |
| Deferred charges and accrued income | 490/1 | €995 | - | -€995 | |
| Total equity and liabilities | 10/49 | €524,153 | €490,158 | -€33,995 | -6.5% |
| Equity | 10/15 | €279,312 | €292,558 | +€13,246 | +4.7% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €234,760 | €247,260 | +€12,500 | +5.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €232,900 | €245,400 | +€12,500 | +5.4% |
| Profit (loss) carried forward | 14 | €29,552 | €30,298 | +€746 | +2.5% |
| Amounts payable | 17/49 | €244,841 | €197,600 | -€47,242 | -19.3% |
| Amounts payable after more than one year | 17 | €146,419 | €123,177 | -€23,241 | -15.9% |
| Financial debts | 170/4 | €146,419 | €123,177 | -€23,241 | -15.9% |
| Amounts payable within one year | 42/48 | €98,423 | €72,780 | -€25,643 | -26.1% |
| Current portion of amounts payable after more than one year | 42 | €23,942 | €23,736 | -€205 | -0.9% |
| Financial debts | 43 | €50,000 | - | -€50,000 | |
| Credit institutions | 430/8 | €50,000 | - | -€50,000 | |
| Trade debts | 44 | €790 | €3,776 | +€2,986 | +378% |
| Suppliers | 440/4 | €790 | €3,776 | +€2,986 | +378% |
| Taxes, remuneration and social security | 45 | €2,605 | €9,239 | +€6,634 | +255% |
| Taxes | 450/3 | €2,605 | €9,239 | +€6,634 | +255% |
| Other amounts payable | 47/48 | €21,086 | €36,028 | +€14,942 | +70.9% |
| Accrued charges and deferred income | 492/3 | - | €1,643 | +€1,643 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,171 | €28,261 | -€1,910 | -6.3% |
| Other operating charges | 640/8 | €2,938 | €3,181 | +€243 | +8.3% |
| Gross operating margin | 9900 | €101,915 | €120,404 | +€18,489 | +18.1% |
| Operating profit (loss) | 9901 | €68,806 | €88,962 | +€20,156 | +29.3% |
| Financial income | 75/76B | €1,283 | €2,785 | +€1,502 | +117% |
| Recurring financial income | 75 | €1,283 | €2,785 | +€1,502 | +117% |
| Financial charges | 65/66B | €6,110 | €5,867 | -€243 | -4.0% |
| Recurring financial charges | 65 | €6,110 | €5,867 | -€243 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | €63,979 | €85,880 | +€21,901 | +34.2% |
| Income taxes | 67/77 | €19,821 | €26,134 | +€6,312 | +31.8% |
| Profit (loss) for the period | 9904 | €44,158 | €59,746 | +€15,589 | +35.3% |
| Profit (loss) for the period to be appropriated | 9905 | €44,158 | €59,746 | +€15,589 | +35.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 April 2024 and 30 April 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.