FRANK STAELENS: 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.
FRANK STAELENS
Largest movements
- Cash +€455,883
up €455,883 (+662%), from €68,840 to €524,723
mainly Current investments (+€270,000) and Net result for the year (+€253,796)
- Current investments -€270,000
down €270,000 (-100%), from €270,000 to €0
- Deferred charges and accrued income +€6,000
new in 2025: €6,000
- Profit (loss) carried forward +€255,656
up €255,656 (+94.4%), from -€270,828 to -€15,172
- Debts after one year -€63,806
down €63,806 (-17.0%), from €376,168 to €312,363
of which Financial debts: -€63,806
- Gross operating margin +€295,335
up €295,335, from -€12,520 to €282,815
- Taxes +€21,531
up €21,531 (+39,579%), from €54 to €21,585
- Financial charges -€3,287
down €3,287 (-19.2%), from €17,134 to €13,847
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 | €353,937 | €546,644 | +€192,707 | +54.4% |
| Fixed assets | 21/28 | €6,301 | €6,017 | -€284 | -4.5% |
| Tangible fixed assets | 22/27 | €301 | €17 | -€284 | -94.3% |
| Furniture and vehicles | 24 | €301 | €17 | -€284 | -94.3% |
| Financial fixed assets | 28 | €6,000 | €6,000 | = | 0.0% |
| Current assets | 29/58 | €347,636 | €540,627 | +€192,991 | +55.5% |
| Amounts receivable within one year | 40/41 | €8,796 | €9,904 | +€1,108 | +12.6% |
| Trade receivables | 40 | €5,793 | €2,178 | -€3,615 | -62.4% |
| Other amounts receivable | 41 | €3,003 | €7,726 | +€4,723 | +157% |
| Current investments | 50/53 | €270,000 | €0 | -€270,000 | -100% |
| Cash at bank and in hand | 54/58 | €68,840 | €524,723 | +€455,883 | +662% |
| Deferred charges and accrued income | 490/1 | - | €6,000 | +€6,000 | |
| Total equity and liabilities | 10/49 | €353,937 | €546,644 | +€192,707 | +54.4% |
| Equity | 10/15 | -€200,368 | €53,428 | +€253,796 | |
| Contributions | 10/11 | €68,600 | €68,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €1,860 | €0 | -€1,860 | -100% |
| Profit (loss) carried forward | 14 | -€270,828 | -€15,172 | +€255,656 | +94.4% |
| Amounts payable | 17/49 | €554,305 | €493,216 | -€61,089 | -11.0% |
| Amounts payable after more than one year | 17 | €376,168 | €312,363 | -€63,806 | -17.0% |
| Financial debts | 170/4 | €236,168 | €172,363 | -€63,806 | -27.0% |
| Other amounts payable | 178/9 | €140,000 | €140,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €178,010 | €180,853 | +€2,843 | +1.6% |
| Current portion of amounts payable after more than one year | 42 | €60,660 | €63,806 | +€3,145 | +5.2% |
| Trade debts | 44 | €3,089 | €3,233 | +€143 | +4.6% |
| Suppliers | 440/4 | €3,089 | €3,233 | +€143 | +4.6% |
| Taxes, remuneration and social security | 45 | €1,523 | €2,313 | +€790 | +51.9% |
| Taxes | 450/3 | €1,523 | €2,313 | +€790 | +51.9% |
| Other amounts payable | 47/48 | €112,738 | €111,502 | -€1,236 | -1.1% |
| Accrued charges and deferred income | 492/3 | €126 | €0 | -€126 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €284 | €284 | = | 0.0% |
| Other operating charges | 640/8 | €969 | €940 | -€29 | -3.0% |
| Gross operating margin | 9900 | -€12,520 | €282,815 | +€295,335 | |
| Operating profit (loss) | 9901 | -€13,773 | €281,591 | +€295,364 | |
| Financial income | 75/76B | €10,192 | €7,637 | -€2,555 | -25.1% |
| Recurring financial income | 75 | €10,192 | €7,637 | -€2,555 | -25.1% |
| Financial charges | 65/66B | €17,134 | €13,847 | -€3,287 | -19.2% |
| Recurring financial charges | 65 | €17,134 | €13,847 | -€3,287 | -19.2% |
| Profit (loss) for the period before taxes | 9903 | -€20,714 | €275,382 | +€296,096 | |
| Income taxes | 67/77 | €54 | €21,585 | +€21,531 | +39,579% |
| Profit (loss) for the period | 9904 | -€20,769 | €253,796 | +€274,565 | |
| Profit (loss) for the period to be appropriated | 9905 | -€20,769 | €253,796 | +€274,565 |
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 30 October 2026 via checked.be.