Frank Vanrobaeys: what changed
Two fiscal 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 Vanrobaeys
Largest movements
- Cash +€182,628
up €182,628 (+1073.3%), from €17,016 to €199,644
mainly Current investments (+€124,184) and Net result for the year (+€49,636)
- Current investments -€124,184
no longer reported in 2025 (was €124,184)
- Tangible fixed assets -€10,592
down €10,592 (-69.2%), from €15,313 to €4,720
of which Furniture and vehicles: -€15,313
- Reserves +€49,636
up €49,636 (+44.6%), from €111,174 to €160,811
- Tax, wage and social debts -€3,132
down €3,132 (-14.2%), from €22,003 to €18,870
- Gross operating margin -€18,466
down €18,466 (-19.7%), from €93,892 to €75,426
- Taxes -€4,551
down €4,551 (-23.2%), from €19,606 to €15,055
- Depreciation -€2,321
down €2,321 (-70.0%), from €3,318 to €996
- Financial charges +€2,203
up €2,203 (+700.3%), from €315 to €2,518
- Financial income +€983
up €983 (+454.0%), from €217 to €1,200
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.
Cash bridge derived
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 | €156,898 | €204,721 | +€47,823 | +30.5% |
| Fixed assets | 21/28 | €15,313 | €4,720 | -€10,592 | -69.2% |
| Tangible fixed assets | 22/27 | €15,313 | €4,720 | -€10,592 | -69.2% |
| Plant, machinery and equipment | 23 | - | €4,720 | +€4,720 | |
| Furniture and vehicles | 24 | €15,313 | €0 | -€15,313 | -100.0% |
| Current assets | 29/58 | €141,585 | €200,001 | +€58,416 | +41.3% |
| Amounts receivable within one year | 40/41 | €18 | €25 | +€7 | +39.4% |
| Other amounts receivable | 41 | €18 | €25 | +€7 | +39.4% |
| Current investments | 50/53 | €124,184 | - | -€124,184 | |
| Cash at bank and in hand | 54/58 | €17,016 | €199,644 | +€182,628 | +1073.3% |
| Deferred charges and accrued income | 490/1 | €367 | €331 | -€36 | -9.8% |
| Total equity and liabilities | 10/49 | €156,898 | €204,721 | +€47,823 | +30.5% |
| Equity | 10/15 | €126,174 | €175,811 | +€49,636 | +39.3% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €111,174 | €160,811 | +€49,636 | +44.6% |
| Distributable reserves | 133 | €111,174 | €160,811 | +€49,636 | +44.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €30,723 | €28,910 | -€1,813 | -5.9% |
| Amounts payable within one year | 42/48 | €30,723 | €28,458 | -€2,265 | -7.4% |
| Trade debts | 44 | €750 | €360 | -€390 | -52.0% |
| Suppliers | 440/4 | €750 | €360 | -€390 | -52.0% |
| Taxes, remuneration and social security | 45 | €22,003 | €18,870 | -€3,132 | -14.2% |
| Taxes | 450/3 | €22,003 | €18,870 | -€3,132 | -14.2% |
| Other amounts payable | 47/48 | €7,971 | €9,228 | +€1,257 | +15.8% |
| Accrued charges and deferred income | 492/3 | - | €452 | +€452 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,318 | €996 | -€2,321 | -70.0% |
| Other operating charges | 640/8 | €1,325 | €1,608 | +€283 | +21.4% |
| Non-recurring operating charges | 66A | - | €6,813 | +€6,813 | |
| Gross operating margin | 9900 | €93,892 | €75,426 | -€18,466 | -19.7% |
| Operating profit (loss) | 9901 | €89,249 | €66,009 | -€23,240 | -26.0% |
| Financial income | 75/76B | €217 | €1,200 | +€983 | +454.0% |
| Recurring financial income | 75 | €217 | €1,200 | +€983 | +454.0% |
| Financial charges | 65/66B | €315 | €2,518 | +€2,203 | +700.3% |
| Recurring financial charges | 65 | €315 | €2,518 | +€2,203 | +700.3% |
| Profit (loss) for the period before taxes | 9903 | €89,151 | €64,691 | -€24,460 | -27.4% |
| Income taxes | 67/77 | €19,606 | €15,055 | -€4,551 | -23.2% |
| Profit (loss) for the period | 9904 | €69,545 | €49,636 | -€19,909 | -28.6% |
| Profit (loss) for the period to be appropriated | 9905 | €69,545 | €49,636 | -€19,909 | -28.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.