Fred's choice: 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.
Fred's choice
Largest movements
- Receivables after one year +€250,000
new in 2024: €250,000
- Receivables within one year -€206,005
down €206,005 (-83.1%), from €248,001 to €41,996
of which Other amounts receivable: -€223,801
- Financial fixed assets +€17,214
new in 2024: €17,214
- Cash +€14,316
up €14,316 (+4,469%), from €320 to €14,636
mainly Receivables within one year (+€206,005) and Net result for the year (+€125,367)
- Tangible fixed assets -€10,654
down €10,654 (-2.5%), from €431,106 to €420,452
of which Land and buildings: -€8,514
- Reserves +€66,543
up €66,543 (+21.6%), from €308,113 to €374,657
- Debts after one year -€29,949
down €29,949 (-12.8%), from €234,099 to €204,150
- Tax, wage and social debts +€9,425
up €9,425 (+47.1%), from €20,014 to €29,439
- Current portion of long-term debt +€7,919
up €7,919 (+11.8%), from €67,030 to €74,949
- Gross operating margin +€41,491
up €41,491 (+24.7%), from €167,855 to €209,346
- Taxes +€17,923
up €17,923 (+52.7%), from €34,000 to €51,923
- Financial income -€3,879
down €3,879 (-43.7%), from €8,879 to €5,000
- Other operating charges -€2,942
down €2,942 (-35.5%), from €8,294 to €5,352
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €679,427 | €744,298 | +€64,871 | +9.5% |
| Fixed assets | 21/28 | €431,106 | €437,666 | +€6,560 | +1.5% |
| Tangible fixed assets | 22/27 | €431,106 | €420,452 | -€10,654 | -2.5% |
| Land and buildings | 22 | €426,468 | €417,954 | -€8,514 | -2.0% |
| Plant, machinery and equipment | 23 | - | €2,497 | +€2,497 | |
| Leasing and similar rights | 25 | €4,637 | - | -€4,637 | |
| Financial fixed assets | 28 | - | €17,214 | +€17,214 | |
| Current assets | 29/58 | €248,321 | €306,633 | +€58,311 | +23.5% |
| Amounts receivable after more than one year | 29 | - | €250,000 | +€250,000 | |
| Other amounts receivable | 291 | - | €250,000 | +€250,000 | |
| Amounts receivable within one year | 40/41 | €248,001 | €41,996 | -€206,005 | -83.1% |
| Trade receivables | 40 | €24,200 | €41,996 | +€17,796 | +73.5% |
| Other amounts receivable | 41 | €223,801 | - | -€223,801 | |
| Cash at bank and in hand | 54/58 | €320 | €14,636 | +€14,316 | +4,469% |
| Total equity and liabilities | 10/49 | €679,427 | €744,298 | +€64,871 | +9.5% |
| Equity | 10/15 | €310,613 | €377,157 | +€66,543 | +21.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €308,113 | €374,657 | +€66,543 | +21.6% |
| Distributable reserves | 133 | €308,113 | €374,657 | +€66,543 | +21.6% |
| Amounts payable | 17/49 | €368,814 | €367,142 | -€1,672 | -0.5% |
| Amounts payable after more than one year | 17 | €234,099 | €204,150 | -€29,949 | -12.8% |
| Financial debts | 170/4 | €234,099 | €204,150 | -€29,949 | -12.8% |
| Amounts payable within one year | 42/48 | €133,715 | €161,892 | +€28,177 | +21.1% |
| Current portion of amounts payable after more than one year | 42 | €67,030 | €74,949 | +€7,919 | +11.8% |
| Trade debts | 44 | €23,671 | €27,222 | +€3,550 | +15.0% |
| Suppliers | 440/4 | €23,671 | €27,222 | +€3,550 | +15.0% |
| Taxes, remuneration and social security | 45 | €20,014 | €29,439 | +€9,425 | +47.1% |
| Taxes | 450/3 | €20,014 | €29,439 | +€9,425 | +47.1% |
| Other amounts payable | 47/48 | €23,000 | €30,282 | +€7,282 | +31.7% |
| Accrued charges and deferred income | 492/3 | €1,000 | €1,100 | +€100 | +10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,647 | €20,669 | +€1,022 | +5.2% |
| Other operating charges | 640/8 | €8,294 | €5,352 | -€2,942 | -35.5% |
| Gross operating margin | 9900 | €167,855 | €209,346 | +€41,491 | +24.7% |
| Operating profit (loss) | 9901 | €139,914 | €183,324 | +€43,411 | +31.0% |
| Financial income | 75/76B | €8,879 | €5,000 | -€3,879 | -43.7% |
| Recurring financial income | 75 | €8,879 | €5,000 | -€3,879 | -43.7% |
| Financial charges | 65/66B | €12,942 | €11,035 | -€1,907 | -14.7% |
| Recurring financial charges | 65 | €12,942 | €11,035 | -€1,907 | -14.7% |
| Profit (loss) for the period before taxes | 9903 | €135,850 | €177,290 | +€41,439 | +30.5% |
| Income taxes | 67/77 | €34,000 | €51,923 | +€17,923 | +52.7% |
| Profit (loss) for the period | 9904 | €101,850 | €125,367 | +€23,517 | +23.1% |
| Profit (loss) for the period to be appropriated | 9905 | €101,850 | €125,367 | +€23,517 | +23.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.