FREDERIC DONCK: 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.
What changed
FREDERIC DONCK
NACE 70.200, Business and other management consultancy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€20,242
2024 · -€46,142+€25,900
Equity
€329,161
2024 · €349,404-€20,242
Cash
€785
2024 · €734+€51
Balance sheet total
€441,242
2024 · €473,396-€32,154
Largest movements
Assets
- Tangible fixed assets -€31,515
down €31,515 (-8.1%), from €390,935 to €359,421
Equity and liabilities
- Profit (loss) carried forward -€13,328
down €13,328 (-7.1%), from €188,047 to €174,719
- Debts after one year -€10,545
down €10,545 (-25.2%), from €41,874 to €31,329
- Reserves -€6,915
down €6,915 (-4.8%), from €142,757 to €135,843
of which Tax-exempt reserves: -€6,915
Income statement
- Depreciation -€15,785
down €15,785 (-32.4%), from €48,756 to €32,970
- Gross operating margin -€972
down €972 (-5.9%), from €16,414 to €15,442
- Financial charges +€609
up €609 (+17.2%), from €3,539 to €4,148
of which Financial charges: +€628
- Other operating charges -€173
down €173 (-8.3%), from €2,097 to €1,923
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.
Result 2024
-€46,142
Gross operating margin
-€972
Depreciation
+€15,785
Other operating charges
+€173
Other operating items
+€11,522
Financial income
+€0
Financial charges
-€609
Result 2025
-€20,242
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.
From operations
+€11,716
Investment
-€1,455
Financing
-€10,210
Cash 2024
€734
From operations (derived)
+€11,716
Net result for the year
-€20,242
Depreciation
+€32,970
Receivables within one year
+€665
Deferred charges and accrued income
+€26
Provisions
-€3,562
Trade debts
+€1,956
Tax, wage and social debts
+€821
Other debts
-€1,476
Accrued charges and deferred income
+€558
Investment (derived)
-€1,455
Investment in fixed assets (net)
-€1,455
Financing
-€10,210
Debts after one year
-€10,545
Current portion of long-term debt
+€336
Cash 2025
€785
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €473,396 | €441,242 | -€32,154 | -6.8% |
| Fixed assets | 21/28 | €390,935 | €359,421 | -€31,515 | -8.1% |
| Tangible fixed assets | 22/27 | €390,935 | €359,421 | -€31,515 | -8.1% |
| Land and buildings | 22 | €320,568 | €309,946 | -€10,622 | -3.3% |
| Plant, machinery and equipment | 23 | €21,551 | €8,960 | -€12,591 | -58.4% |
| Furniture and vehicles | 24 | €14,161 | €10,221 | -€3,939 | -27.8% |
| Other tangible fixed assets | 26 | €34,656 | €30,293 | -€4,363 | -12.6% |
| Current assets | 29/58 | €82,461 | €81,821 | -€640 | -0.8% |
| Amounts receivable within one year | 40/41 | €946 | €281 | -€665 | -70.3% |
| Trade receivables | 40 | €665 | - | -€665 | |
| Other amounts receivable | 41 | €281 | €281 | = | 0.0% |
| Current investments | 50/53 | €80,081 | €80,081 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €734 | €785 | +€51 | +6.9% |
| Deferred charges and accrued income | 490/1 | €699 | €674 | -€26 | -3.7% |
| Total equity and liabilities | 10/49 | €473,396 | €441,242 | -€32,154 | -6.8% |
| Equity | 10/15 | €349,404 | €329,161 | -€20,242 | -5.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €142,757 | €135,843 | -€6,915 | -4.8% |
| Non-distributable reserves | 130/1 | €80,081 | €80,081 | = | 0.0% |
| Own shares acquired | 1312 | €80,081 | €80,081 | = | 0.0% |
| Tax-exempt reserves | 132 | €60,816 | €53,901 | -€6,915 | -11.4% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €188,047 | €174,719 | -€13,328 | -7.1% |
| Provisions and deferred taxes | 16 | €30,372 | €26,810 | -€3,562 | -11.7% |
| Deferred taxes | 168 | €30,372 | €26,810 | -€3,562 | -11.7% |
| Amounts payable | 17/49 | €93,621 | €85,271 | -€8,350 | -8.9% |
| Amounts payable after more than one year | 17 | €41,874 | €31,329 | -€10,545 | -25.2% |
| Financial debts | 170/4 | €41,874 | €31,329 | -€10,545 | -25.2% |
| Amounts payable within one year | 42/48 | €49,733 | €51,370 | +€1,637 | +3.3% |
| Current portion of amounts payable after more than one year | 42 | €10,214 | €10,549 | +€336 | +3.3% |
| Trade debts | 44 | €6,076 | €8,032 | +€1,956 | +32.2% |
| Suppliers | 440/4 | €6,076 | €8,032 | +€1,956 | +32.2% |
| Taxes, remuneration and social security | 45 | €636 | €1,458 | +€821 | +129.1% |
| Taxes | 450/3 | €636 | €1,458 | +€821 | +129.1% |
| Other amounts payable | 47/48 | €32,807 | €31,331 | -€1,476 | -4.5% |
| Accrued charges and deferred income | 492/3 | €2,014 | €2,572 | +€558 | +27.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,756 | €32,970 | -€15,785 | -32.4% |
| Other operating charges | 640/8 | €2,097 | €1,923 | -€173 | -8.3% |
| Non-recurring operating charges | 66A | €11,726 | €205 | -€11,522 | -98.3% |
| Gross operating margin | 9900 | €16,414 | €15,442 | -€972 | -5.9% |
| Operating profit (loss) | 9901 | -€46,165 | -€19,656 | +€26,509 | +57.4% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €3,539 | €4,148 | +€609 | +17.2% |
| Recurring financial charges | 65 | €3,520 | €4,148 | +€628 | +17.9% |
| Non-recurring financial charges | 66B | €19 | €0 | -€19 | -99.8% |
| Profit (loss) for the period before taxes | 9903 | -€49,704 | -€23,804 | +€25,900 | +52.1% |
| Transfer from deferred taxes | 780 | €3,562 | €3,562 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€46,142 | -€20,242 | +€25,900 | +56.1% |
| Transfer from tax-exempt reserves | 789 | €6,915 | €6,915 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€39,227 | -€13,328 | +€25,900 | +66.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.