Frank Thys: 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 Thys
Largest movements
- Cash +€5,047
up €5,047 (+39.7%), from €12,710 to €17,757
mainly Net result for the year (+€6,852) and Depreciation (+€5,880)
- Receivables within one year -€4,130
down €4,130 (-13.9%), from €29,621 to €25,491
of which Trade receivables: -€5,726
- Tangible fixed assets -€3,425
down €3,425 (-16.5%), from €20,806 to €17,381
of which Furniture and vehicles: -€5,221
- Deferred charges and accrued income +€1,418
up €1,418 (+38.1%), from €3,719 to €5,137
- Reserves +€6,852
up €6,852 (+12.9%), from €53,036 to €59,888
- Other debts -€4,001
no longer reported in 2025 (was €4,001)
- Trade debts -€2,979
down €2,979 (-70.8%), from €4,209 to €1,230
- Accrued charges and deferred income -€898
no longer reported in 2025 (was €898)
- Gross operating margin -€13,034
down €13,034 (-40.9%), from €31,891 to €18,857
- Taxes -€2,739
down €2,739 (-38.8%), from €7,055 to €4,315
- Financial charges -€943
down €943 (-47.7%), from €1,978 to €1,034
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 | €66,896 | €65,805 | -€1,091 | -1.6% |
| Fixed assets | 21/28 | €20,846 | €17,421 | -€3,425 | -16.4% |
| Tangible fixed assets | 22/27 | €20,806 | €17,381 | -€3,425 | -16.5% |
| Land and buildings | 22 | €310 | - | -€310 | |
| Plant, machinery and equipment | 23 | - | €2,105 | +€2,105 | |
| Furniture and vehicles | 24 | €20,497 | €15,276 | -€5,221 | -25.5% |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €46,050 | €48,384 | +€2,334 | +5.1% |
| Amounts receivable within one year | 40/41 | €29,621 | €25,491 | -€4,130 | -13.9% |
| Trade receivables | 40 | €28,511 | €22,784 | -€5,726 | -20.1% |
| Other amounts receivable | 41 | €1,110 | €2,706 | +€1,596 | +144% |
| Cash at bank and in hand | 54/58 | €12,710 | €17,757 | +€5,047 | +39.7% |
| Deferred charges and accrued income | 490/1 | €3,719 | €5,137 | +€1,418 | +38.1% |
| Total equity and liabilities | 10/49 | €66,896 | €65,805 | -€1,091 | -1.6% |
| Equity | 10/15 | €56,036 | €62,888 | +€6,852 | +12.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €53,036 | €59,888 | +€6,852 | +12.9% |
| Distributable reserves | 133 | €53,036 | €59,888 | +€6,852 | +12.9% |
| Amounts payable | 17/49 | €10,860 | €2,917 | -€7,943 | -73.1% |
| Amounts payable within one year | 42/48 | €9,962 | €2,917 | -€7,045 | -70.7% |
| Financial debts | 43 | €1,698 | €1,687 | -€11 | -0.6% |
| Credit institutions | 430/8 | - | €1,687 | +€1,687 | |
| Other loans | 439 | €1,698 | - | -€1,698 | |
| Trade debts | 44 | €4,209 | €1,230 | -€2,979 | -70.8% |
| Suppliers | 440/4 | €4,209 | €1,230 | -€2,979 | -70.8% |
| Taxes, remuneration and social security | 45 | €55 | - | -€55 | |
| Taxes | 450/3 | €55 | - | -€55 | |
| Other amounts payable | 47/48 | €4,001 | - | -€4,001 | |
| Accrued charges and deferred income | 492/3 | €898 | - | -€898 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,687 | €5,880 | +€193 | +3.4% |
| Other operating charges | 640/8 | €1,149 | €907 | -€242 | -21.1% |
| Gross operating margin | 9900 | €31,891 | €18,857 | -€13,034 | -40.9% |
| Operating profit (loss) | 9901 | €25,054 | €12,069 | -€12,985 | -51.8% |
| Financial income | 75/76B | - | €133 | +€133 | |
| Recurring financial income | 75 | - | €133 | +€133 | |
| Financial charges | 65/66B | €1,978 | €1,034 | -€943 | -47.7% |
| Recurring financial charges | 65 | €1,978 | €1,034 | -€943 | -47.7% |
| Profit (loss) for the period before taxes | 9903 | €23,077 | €11,168 | -€11,909 | -51.6% |
| Income taxes | 67/77 | €7,055 | €4,315 | -€2,739 | -38.8% |
| Profit (loss) for the period | 9904 | €16,022 | €6,852 | -€9,170 | -57.2% |
| Profit (loss) for the period to be appropriated | 9905 | €16,022 | €6,852 | -€9,170 | -57.2% |
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 15 October 2026 via checked.be.