Frédéric Mommaerts: 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 Mommaerts
Largest movements
- Tangible fixed assets +€19,618
up €19,618 (+242%), from €8,095 to €27,713
- Cash +€7,271
up €7,271 (+584%), from €1,245 to €8,516
mainly Other debts (+€45,701) and Depreciation (+€11,144)
- Receivables within one year -€5,596
down €5,596 (-47.1%), from €11,869 to €6,273
of which Other amounts receivable: -€11,281
- Deferred charges and accrued income -€4,894
down €4,894 (-72.5%), from €6,753 to €1,859
- Other debts +€45,701
new in 2026: €45,701
- Profit (loss) carried forward -€26,972
down €26,972 (-21.0%), from -€128,731 to -€155,703
- Trade debts -€3,587
down €3,587 (-82.9%), from €4,328 to €741
- Tax, wage and social debts +€951
up €951 (+124%), from €765 to €1,716
of which Taxes: +€951
- Gross operating margin +€108,118
up €108,118 (+87.8%), from -€123,171 to -€15,053
- Depreciation +€4,992
up €4,992 (+81.1%), from €6,152 to €11,144
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 | €27,962 | €44,361 | +€16,399 | +58.6% |
| Fixed assets | 21/28 | €8,095 | €27,713 | +€19,618 | +242% |
| Tangible fixed assets | 22/27 | €8,095 | €27,713 | +€19,618 | +242% |
| Furniture and vehicles | 24 | €8,095 | €27,713 | +€19,618 | +242% |
| Current assets | 29/58 | €19,867 | €16,648 | -€3,219 | -16.2% |
| Amounts receivable within one year | 40/41 | €11,869 | €6,273 | -€5,596 | -47.1% |
| Trade receivables | 40 | €588 | €6,273 | +€5,685 | +967% |
| Other amounts receivable | 41 | €11,281 | - | -€11,281 | |
| Cash at bank and in hand | 54/58 | €1,245 | €8,516 | +€7,271 | +584% |
| Deferred charges and accrued income | 490/1 | €6,753 | €1,859 | -€4,894 | -72.5% |
| Total equity and liabilities | 10/49 | €27,962 | €44,361 | +€16,399 | +58.6% |
| Equity | 10/15 | €22,869 | -€4,103 | -€26,972 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €133,000 | €133,000 | = | 0.0% |
| Distributable reserves | 133 | €133,000 | €133,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€128,731 | -€155,703 | -€26,972 | -21.0% |
| Amounts payable | 17/49 | €5,093 | €48,464 | +€43,371 | +852% |
| Amounts payable within one year | 42/48 | €5,093 | €48,158 | +€43,065 | +846% |
| Trade debts | 44 | €4,328 | €741 | -€3,587 | -82.9% |
| Suppliers | 440/4 | €4,328 | €741 | -€3,587 | -82.9% |
| Taxes, remuneration and social security | 45 | €765 | €1,716 | +€951 | +124% |
| Taxes | 450/3 | €265 | €1,216 | +€951 | +359% |
| Remuneration and social security | 454/9 | €500 | €500 | = | 0.0% |
| Other amounts payable | 47/48 | - | €45,701 | +€45,701 | |
| Accrued charges and deferred income | 492/3 | - | €306 | +€306 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,152 | €11,144 | +€4,992 | +81.1% |
| Other operating charges | 640/8 | €372 | €28 | -€344 | -92.5% |
| Gross operating margin | 9900 | -€123,171 | -€15,053 | +€108,118 | +87.8% |
| Operating profit (loss) | 9901 | -€129,695 | -€26,225 | +€103,470 | +79.8% |
| Financial charges | 65/66B | €1,294 | €506 | -€788 | -60.9% |
| Recurring financial charges | 65 | €1,294 | €506 | -€788 | -60.9% |
| Profit (loss) for the period before taxes | 9903 | -€130,989 | -€26,731 | +€104,258 | +79.6% |
| Income taxes | 67/77 | €265 | €241 | -€24 | -9.1% |
| Profit (loss) for the period | 9904 | -€131,254 | -€26,972 | +€104,282 | +79.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€131,254 | -€26,972 | +€104,282 | +79.5% |
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.