FREDERIC DUERINCKX: 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 DUERINCKX
Largest movements
- Cash +€38,065
up €38,065 (+43.0%), from €88,506 to €126,572
mainly Net result for the year (+€38,250) and Tax, wage and social debts (+€6,137)
- Receivables within one year +€2,236
up €2,236 (+17.8%), from €12,558 to €14,794
of which Trade receivables: +€7,028
- Reserves +€38,250
up €38,250 (+50.7%), from €75,387 to €113,637
- Tax, wage and social debts +€6,137
up €6,137 (+72.4%), from €8,477 to €14,615
- Other debts -€2,389
down €2,389 (-62.7%), from €3,810 to €1,421
- Turnover +€38,837
up €38,837 (+23.5%), from €165,221 to €204,057
- Gross operating margin +€21,751
up €21,751 (+61.0%), from €35,656 to €57,407
- Purchases and services +€17,086
up €17,086 (+13.2%), from €129,565 to €146,650
- Taxes +€6,137
up €6,137 (+72.4%), from €8,477 to €14,615
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 | €107,674 | €149,673 | +€41,999 | +39.0% |
| Fixed assets | 21/28 | €6,610 | €7,638 | +€1,028 | +15.6% |
| Tangible fixed assets | 22/27 | €6,525 | €7,553 | +€1,028 | +15.8% |
| Plant, machinery and equipment | 23 | €354 | €1,391 | +€1,037 | +293% |
| Furniture and vehicles | 24 | €6,171 | €6,162 | -€9 | -0.1% |
| Financial fixed assets | 28 | €85 | €85 | = | 0.0% |
| Current assets | 29/58 | €101,065 | €142,035 | +€40,971 | +40.5% |
| Amounts receivable within one year | 40/41 | €12,558 | €14,794 | +€2,236 | +17.8% |
| Trade receivables | 40 | €6,507 | €13,535 | +€7,028 | +108% |
| Other amounts receivable | 41 | €6,051 | €1,259 | -€4,792 | -79.2% |
| Cash at bank and in hand | 54/58 | €88,506 | €126,572 | +€38,065 | +43.0% |
| Deferred charges and accrued income | 490/1 | - | €669 | +€669 | |
| Total equity and liabilities | 10/49 | €107,674 | €149,673 | +€41,999 | +39.0% |
| Equity | 10/15 | €95,387 | €133,637 | +€38,250 | +40.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €75,387 | €113,637 | +€38,250 | +50.7% |
| Distributable reserves | 133 | €75,387 | €113,637 | +€38,250 | +50.7% |
| Amounts payable | 17/49 | €12,287 | €16,036 | +€3,749 | +30.5% |
| Amounts payable within one year | 42/48 | €12,287 | €16,036 | +€3,749 | +30.5% |
| Taxes, remuneration and social security | 45 | €8,477 | €14,615 | +€6,137 | +72.4% |
| Taxes | 450/3 | €8,477 | €14,615 | +€6,137 | +72.4% |
| Other amounts payable | 47/48 | €3,810 | €1,421 | -€2,389 | -62.7% |
| Turnover | 70 | €165,221 | €204,057 | +€38,837 | +23.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €129,565 | €146,650 | +€17,086 | +13.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,633 | €3,498 | -€135 | -3.7% |
| Other operating charges | 640/8 | €819 | €949 | +€130 | +15.8% |
| Gross operating margin | 9900 | €35,656 | €57,407 | +€21,751 | +61.0% |
| Operating profit (loss) | 9901 | €31,205 | €52,961 | +€21,756 | +69.7% |
| Financial income | 75/76B | €0 | €91 | +€91 | +227,525% |
| Recurring financial income | 75 | €0 | €91 | +€91 | +227,525% |
| Financial charges | 65/66B | €155 | €187 | +€32 | +20.5% |
| Recurring financial charges | 65 | €155 | €187 | +€32 | +20.5% |
| Profit (loss) for the period before taxes | 9903 | €31,050 | €52,865 | +€21,815 | +70.3% |
| Income taxes | 67/77 | €8,477 | €14,615 | +€6,137 | +72.4% |
| Profit (loss) for the period | 9904 | €22,572 | €38,250 | +€15,678 | +69.5% |
| Profit (loss) for the period to be appropriated | 9905 | €22,572 | €38,250 | +€15,678 | +69.5% |
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 27 October 2026 via checked.be.