Freddy Dezeure: 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.
Freddy Dezeure
Largest movements
- Cash -€84,476
down €84,476 (-86.1%), from €98,114 to €13,638
mainly Other debts (-€60,132) and Contributions, distributions and other (-€50,000)
- Deferred charges and accrued income -€8,546
down €8,546 (-100%), from €8,546 to €0
- Intangible fixed assets +€4,162
new in 2025: €4,162
- Tangible fixed assets -€2,413
down €2,413 (-6.0%), from €40,036 to €37,623
of which Furniture and vehicles: -€5,599
- Other debts -€60,132
down €60,132 (-93.1%), from €64,615 to €4,483
- Profit (loss) carried forward -€33,389
down €33,389 (-49.6%), from €67,251 to €33,862
- Current portion of long-term debt +€13,899
new in 2025: €13,899
- Trade debts -€12,051
down €12,051 (-90.6%), from €13,304 to €1,252
- Depreciation +€2,200
up €2,200 (+23.6%), from €9,309 to €11,509
- Other operating charges -€1,190
down €1,190 (-90.4%), from €1,317 to €127
- Gross operating margin +€498
up €498 (+1.3%), from €38,517 to €39,016
- Taxes +€478
up €478 (+4.9%), from €9,664 to €10,142
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 | €165,575 | €74,044 | -€91,531 | -55.3% |
| Fixed assets | 21/28 | €40,036 | €41,785 | +€1,749 | +4.4% |
| Intangible fixed assets | 21 | - | €4,162 | +€4,162 | |
| Tangible fixed assets | 22/27 | €40,036 | €37,623 | -€2,413 | -6.0% |
| Plant, machinery and equipment | 23 | €1,517 | €4,703 | +€3,186 | +210% |
| Furniture and vehicles | 24 | €38,518 | €32,920 | -€5,599 | -14.5% |
| Current assets | 29/58 | €125,539 | €32,259 | -€93,280 | -74.3% |
| Amounts receivable within one year | 40/41 | €18,878 | €18,621 | -€257 | -1.4% |
| Trade receivables | 40 | €11,320 | €17,076 | +€5,755 | +50.8% |
| Other amounts receivable | 41 | €7,558 | €1,545 | -€6,013 | -79.6% |
| Cash at bank and in hand | 54/58 | €98,114 | €13,638 | -€84,476 | -86.1% |
| Deferred charges and accrued income | 490/1 | €8,546 | €0 | -€8,546 | -100% |
| Total equity and liabilities | 10/49 | €165,575 | €74,044 | -€91,531 | -55.3% |
| Equity | 10/15 | €87,656 | €54,267 | -€33,389 | -38.1% |
| Contributions | 10/11 | €20,405 | €20,405 | = | 0.0% |
| Profit (loss) carried forward | 14 | €67,251 | €33,862 | -€33,389 | -49.6% |
| Amounts payable | 17/49 | €77,919 | €19,777 | -€58,142 | -74.6% |
| Amounts payable within one year | 42/48 | €77,919 | €19,777 | -€58,142 | -74.6% |
| Current portion of amounts payable after more than one year | 42 | - | €13,899 | +€13,899 | |
| Trade debts | 44 | €13,304 | €1,252 | -€12,051 | -90.6% |
| Suppliers | 440/4 | €13,304 | €1,252 | -€12,051 | -90.6% |
| Taxes, remuneration and social security | 45 | - | €142 | +€142 | |
| Taxes | 450/3 | - | €142 | +€142 | |
| Other amounts payable | 47/48 | €64,615 | €4,483 | -€60,132 | -93.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,309 | €11,509 | +€2,200 | +23.6% |
| Other operating charges | 640/8 | €1,317 | €127 | -€1,190 | -90.4% |
| Gross operating margin | 9900 | €38,517 | €39,016 | +€498 | +1.3% |
| Operating profit (loss) | 9901 | €27,891 | €27,380 | -€511 | -1.8% |
| Financial income | 75/76B | €93 | €47 | -€46 | -49.1% |
| Recurring financial income | 75 | €93 | €47 | -€46 | -49.1% |
| Financial charges | 65/66B | €448 | €673 | +€225 | +50.2% |
| Recurring financial charges | 65 | €448 | €673 | +€225 | +50.2% |
| Profit (loss) for the period before taxes | 9903 | €27,535 | €26,754 | -€782 | -2.8% |
| Income taxes | 67/77 | €9,664 | €10,142 | +€478 | +4.9% |
| Profit (loss) for the period | 9904 | €17,871 | €16,611 | -€1,260 | -7.0% |
| Profit (loss) for the period to be appropriated | 9905 | €17,871 | €16,611 | -€1,260 | -7.0% |
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 23 October 2026 via checked.be.