Frédéric DUMOULIN management: 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.
Frédéric DUMOULIN management
Largest movements
- Receivables within one year -€92,552
down €92,552 (-97.4%), from €95,052 to €2,500
of which Trade receivables: -€95,052
- Cash +€72,186
up €72,186 (+49.4%), from €146,108 to €218,294
mainly Receivables within one year (+€92,552) and Net result for the year (+€30,194)
- Tangible fixed assets -€12,601
down €12,601 (-28.8%), from €43,774 to €31,172
- Reserves -€18,000
down €18,000 (-11.5%), from €156,000 to €138,000
- Debts after one year -€10,475
down €10,475 (-56.3%), from €18,598 to €8,123
- Other debts -€3,800
down €3,800 (-7.7%), from €49,400 to €45,600
- Gross operating margin -€15,282
down €15,282 (-20.0%), from €76,356 to €61,074
- Taxes -€3,381
down €3,381 (-21.1%), from €16,037 to €12,656
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €285,184 | €252,217 | -€32,967 | -11.6% |
| Fixed assets | 21/28 | €44,024 | €31,422 | -€12,601 | -28.6% |
| Tangible fixed assets | 22/27 | €43,774 | €31,172 | -€12,601 | -28.8% |
| Furniture and vehicles | 24 | €43,774 | €31,172 | -€12,601 | -28.8% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €241,160 | €220,794 | -€20,366 | -8.4% |
| Amounts receivable within one year | 40/41 | €95,052 | €2,500 | -€92,552 | -97.4% |
| Trade receivables | 40 | €95,052 | - | -€95,052 | |
| Other amounts receivable | 41 | - | €2,500 | +€2,500 | |
| Cash at bank and in hand | 54/58 | €146,108 | €218,294 | +€72,186 | +49.4% |
| Total equity and liabilities | 10/49 | €285,184 | €252,217 | -€32,967 | -11.6% |
| Equity | 10/15 | €178,458 | €160,652 | -€17,806 | -10.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €156,000 | €138,000 | -€18,000 | -11.5% |
| Distributable reserves | 133 | €156,000 | €138,000 | -€18,000 | -11.5% |
| Profit (loss) carried forward | 14 | €3,858 | €4,052 | +€194 | +5.0% |
| Amounts payable | 17/49 | €106,726 | €91,565 | -€15,161 | -14.2% |
| Amounts payable after more than one year | 17 | €18,598 | €8,123 | -€10,475 | -56.3% |
| Financial debts | 170/4 | €18,598 | €8,123 | -€10,475 | -56.3% |
| Amounts payable within one year | 42/48 | €88,128 | €83,441 | -€4,686 | -5.3% |
| Current portion of amounts payable after more than one year | 42 | €17,581 | €17,975 | +€393 | +2.2% |
| Trade debts | 44 | €5,386 | €4,989 | -€397 | -7.4% |
| Suppliers | 440/4 | €5,386 | €4,989 | -€397 | -7.4% |
| Taxes, remuneration and social security | 45 | €15,761 | €14,877 | -€883 | -5.6% |
| Taxes | 450/3 | €15,761 | €14,877 | -€883 | -5.6% |
| Other amounts payable | 47/48 | €49,400 | €45,600 | -€3,800 | -7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,641 | €16,497 | -€143 | -0.9% |
| Other operating charges | 640/8 | €921 | €1,078 | +€157 | +17.1% |
| Gross operating margin | 9900 | €76,356 | €61,074 | -€15,282 | -20.0% |
| Operating profit (loss) | 9901 | €58,794 | €43,499 | -€15,296 | -26.0% |
| Financial income | 75/76B | €772 | €520 | -€252 | -32.7% |
| Recurring financial income | 75 | €772 | €520 | -€252 | -32.7% |
| Financial charges | 65/66B | €1,525 | €1,169 | -€356 | -23.4% |
| Recurring financial charges | 65 | €1,525 | €1,169 | -€356 | -23.4% |
| Profit (loss) for the period before taxes | 9903 | €58,041 | €42,850 | -€15,192 | -26.2% |
| Income taxes | 67/77 | €16,037 | €12,656 | -€3,381 | -21.1% |
| Profit (loss) for the period | 9904 | €42,004 | €30,194 | -€11,811 | -28.1% |
| Profit (loss) for the period to be appropriated | 9905 | €42,004 | €30,194 | -€11,811 | -28.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.