FREDERIC DIEU: 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 DIEU
Largest movements
- Current investments -€142,178
down €142,178 (-90.0%), from €157,981 to €15,802
- Cash +€127,220
up €127,220 (+470.2%), from €27,057 to €154,276
mainly Net result for the year (+€168,680) and Current investments (+€142,178)
- Deferred charges and accrued income -€19,776
down €19,776 (-88.3%), from €22,395 to €2,619
- Receivables within one year -€18,286
down €18,286 (-54.9%), from €33,286 to €15,000
- Tangible fixed assets +€16,996
up €16,996 (+10.2%), from €166,040 to €183,036
of which Furniture and vehicles: +€39,805
- Profit (loss) carried forward -€67,878
down €67,878 (-79.3%), from €85,558 to €17,680
- Debts after one year +€42,864
up €42,864 (+1973.4%), from €2,172 to €45,036
- Reserves +€41,000
new in 2025: €41,000
- Current portion of long-term debt -€39,541
down €39,541 (-44.8%), from €88,167 to €48,626
- Other debts -€32,663
down €32,663 (-26.1%), from €124,982 to €92,319
- Financial income +€46,000
up €46,000 (+3881.2%), from €1,185 to €47,185
- Gross operating margin +€44,872
up €44,872 (+26.1%), from €171,727 to €216,599
- Taxes +€11,967
up €11,967 (+36.6%), from €32,714 to €44,681
- Depreciation -€11,008
down €11,008 (-28.4%), from €38,776 to €27,768
- Financial charges +€6,722
up €6,722 (+49.1%), from €13,690 to €20,412
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 | €411,409 | €375,384 | -€36,024 | -8.8% |
| Fixed assets | 21/28 | €170,690 | €187,686 | +€16,996 | +10.0% |
| Tangible fixed assets | 22/27 | €166,040 | €183,036 | +€16,996 | +10.2% |
| Furniture and vehicles | 24 | €29,859 | €69,664 | +€39,805 | +133.3% |
| Leasing and similar rights | 25 | €136,181 | €113,372 | -€22,809 | -16.7% |
| Financial fixed assets | 28 | €4,650 | €4,650 | = | 0.0% |
| Current assets | 29/58 | €240,718 | €187,698 | -€53,020 | -22.0% |
| Amounts receivable within one year | 40/41 | €33,286 | €15,000 | -€18,286 | -54.9% |
| Other amounts receivable | 41 | €33,286 | €15,000 | -€18,286 | -54.9% |
| Current investments | 50/53 | €157,981 | €15,802 | -€142,178 | -90.0% |
| Cash at bank and in hand | 54/58 | €27,057 | €154,276 | +€127,220 | +470.2% |
| Deferred charges and accrued income | 490/1 | €22,395 | €2,619 | -€19,776 | -88.3% |
| Total equity and liabilities | 10/49 | €411,409 | €375,384 | -€36,024 | -8.8% |
| Equity | 10/15 | €178,518 | €151,640 | -€26,878 | -15.1% |
| Contributions | 10/11 | €92,960 | €92,960 | = | 0.0% |
| Reserves | 13 | - | €41,000 | +€41,000 | |
| Distributable reserves | 133 | - | €41,000 | +€41,000 | |
| Profit (loss) carried forward | 14 | €85,558 | €17,680 | -€67,878 | -79.3% |
| Amounts payable | 17/49 | €232,891 | €223,744 | -€9,146 | -3.9% |
| Amounts payable after more than one year | 17 | €2,172 | €45,036 | +€42,864 | +1973.4% |
| Financial debts | 170/4 | €2,172 | €45,036 | +€42,864 | +1973.4% |
| Amounts payable within one year | 42/48 | €230,718 | €178,708 | -€52,011 | -22.5% |
| Current portion of amounts payable after more than one year | 42 | €88,167 | €48,626 | -€39,541 | -44.8% |
| Trade debts | 44 | €10,753 | €5,092 | -€5,661 | -52.6% |
| Suppliers | 440/4 | €10,753 | €5,092 | -€5,661 | -52.6% |
| Taxes, remuneration and social security | 45 | €6,817 | €32,671 | +€25,854 | +379.3% |
| Taxes | 450/3 | €2,490 | €28,313 | +€25,823 | +1037.1% |
| Remuneration and social security | 454/9 | €4,327 | €4,358 | +€31 | +0.7% |
| Other amounts payable | 47/48 | €124,982 | €92,319 | -€32,663 | -26.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,776 | €27,768 | -€11,008 | -28.4% |
| Other operating charges | 640/8 | €2,173 | €2,241 | +€68 | +3.1% |
| Gross operating margin | 9900 | €171,727 | €216,599 | +€44,872 | +26.1% |
| Operating profit (loss) | 9901 | €130,777 | €186,589 | +€55,812 | +42.7% |
| Financial income | 75/76B | €1,185 | €47,185 | +€46,000 | +3881.2% |
| Recurring financial income | 75 | €1,185 | €47,185 | +€46,000 | +3881.2% |
| Financial charges | 65/66B | €13,690 | €20,412 | +€6,722 | +49.1% |
| Recurring financial charges | 65 | €13,690 | €20,412 | +€6,722 | +49.1% |
| Profit (loss) for the period before taxes | 9903 | €118,272 | €213,361 | +€95,089 | +80.4% |
| Income taxes | 67/77 | €32,714 | €44,681 | +€11,967 | +36.6% |
| Profit (loss) for the period | 9904 | €85,558 | €168,680 | +€83,122 | +97.2% |
| Profit (loss) for the period to be appropriated | 9905 | €85,558 | €168,680 | +€83,122 | +97.2% |
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 9 October 2026 via checked.be.