FREDERIC BOUQUET: 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.
FREDERIC BOUQUET
Largest movements
- Tangible fixed assets +€25,596
up €25,596 (+37.1%), from €68,966 to €94,562
of which Land and buildings: +€41,551
- Cash +€5,009
up €5,009 (+4.2%), from €120,674 to €125,683
mainly Depreciation (+€27,280) and Net result for the year (+€26,590)
- Profit (loss) carried forward +€26,590
up €26,590 (+64.3%), from €41,376 to €67,966
- Trade debts -€15,644
down €15,644 (-34.8%), from €45,015 to €29,371
- Debts after one year +€12,798
up €12,798 (+45.7%), from €27,977 to €40,776
of which Financial debts: +€12,798
- Current portion of long-term debt +€7,982
up €7,982 (+61.7%), from €12,929 to €20,912
- Reserves -€5,000
down €5,000 (-7.2%), from €69,400 to €64,400
- Gross operating margin +€10,634
up €10,634 (+18.2%), from €58,534 to €69,168
- Depreciation -€3,149
down €3,149 (-10.3%), from €30,429 to €27,280
- Taxes +€2,259
up €2,259 (+36.6%), from €6,172 to €8,431
- Other operating charges -€1,531
down €1,531 (-28.0%), from €5,460 to €3,929
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 | €226,344 | €257,839 | +€31,494 | +13.9% |
| Fixed assets | 21/28 | €69,061 | €94,657 | +€25,596 | +37.1% |
| Tangible fixed assets | 22/27 | €68,966 | €94,562 | +€25,596 | +37.1% |
| Land and buildings | 22 | €15,268 | €56,819 | +€41,551 | +272% |
| Plant, machinery and equipment | 23 | €10,344 | €6,777 | -€3,568 | -34.5% |
| Furniture and vehicles | 24 | €43,353 | €30,966 | -€12,387 | -28.6% |
| Financial fixed assets | 28 | €95 | €95 | = | 0.0% |
| Current assets | 29/58 | €157,283 | €163,181 | +€5,898 | +3.8% |
| Stocks and contracts in progress | 3 | €21,267 | €20,223 | -€1,044 | -4.9% |
| Stocks | 30/36 | €21,267 | €20,223 | -€1,044 | -4.9% |
| Amounts receivable within one year | 40/41 | €15,008 | €16,590 | +€1,582 | +10.5% |
| Trade receivables | 40 | €6,769 | €9,567 | +€2,798 | +41.3% |
| Other amounts receivable | 41 | €8,239 | €7,023 | -€1,216 | -14.8% |
| Cash at bank and in hand | 54/58 | €120,674 | €125,683 | +€5,009 | +4.2% |
| Deferred charges and accrued income | 490/1 | €335 | €685 | +€350 | +105% |
| Total equity and liabilities | 10/49 | €226,344 | €257,839 | +€31,494 | +13.9% |
| Equity | 10/15 | €122,978 | €144,226 | +€21,248 | +17.3% |
| Contributions | 10/11 | €11,860 | €11,860 | = | 0.0% |
| Reserves | 13 | €69,400 | €64,400 | -€5,000 | -7.2% |
| Distributable reserves | 133 | €69,400 | €64,400 | -€5,000 | -7.2% |
| Profit (loss) carried forward | 14 | €41,376 | €67,966 | +€26,590 | +64.3% |
| Investment grants | 15 | €342 | - | -€342 | |
| Amounts payable | 17/49 | €103,367 | €113,613 | +€10,247 | +9.9% |
| Amounts payable after more than one year | 17 | €27,977 | €40,776 | +€12,798 | +45.7% |
| Financial debts | 170/4 | €27,077 | €39,876 | +€12,798 | +47.3% |
| Other amounts payable | 178/9 | €900 | €900 | = | 0.0% |
| Amounts payable within one year | 42/48 | €75,389 | €72,838 | -€2,552 | -3.4% |
| Current portion of amounts payable after more than one year | 42 | €12,929 | €20,912 | +€7,982 | +61.7% |
| Trade debts | 44 | €45,015 | €29,371 | -€15,644 | -34.8% |
| Suppliers | 440/4 | €45,015 | €29,371 | -€15,644 | -34.8% |
| Advances received on contracts in progress | 46 | €7,654 | €7,654 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €8,475 | €12,852 | +€4,377 | +51.6% |
| Taxes | 450/3 | €8,475 | €12,852 | +€4,377 | +51.6% |
| Other amounts payable | 47/48 | €1,316 | €2,049 | +€733 | +55.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,429 | €27,280 | -€3,149 | -10.3% |
| Other operating charges | 640/8 | €5,460 | €3,929 | -€1,531 | -28.0% |
| Non-recurring operating charges | 66A | €318 | €129 | -€189 | -59.5% |
| Gross operating margin | 9900 | €58,534 | €69,168 | +€10,634 | +18.2% |
| Operating profit (loss) | 9901 | €22,326 | €37,830 | +€15,503 | +69.4% |
| Financial income | 75/76B | €613 | €468 | -€145 | -23.7% |
| Recurring financial income | 75 | €613 | €468 | -€145 | -23.7% |
| Financial charges | 65/66B | €2,673 | €3,277 | +€604 | +22.6% |
| Recurring financial charges | 65 | €2,673 | €3,277 | +€604 | +22.6% |
| Profit (loss) for the period before taxes | 9903 | €20,267 | €35,021 | +€14,754 | +72.8% |
| Income taxes | 67/77 | €6,172 | €8,431 | +€2,259 | +36.6% |
| Profit (loss) for the period | 9904 | €14,095 | €26,590 | +€12,495 | +88.6% |
| Profit (loss) for the period to be appropriated | 9905 | €14,095 | €26,590 | +€12,495 | +88.6% |
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 31 October 2026 via checked.be.