Frédéric PARIS: 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 PARIS
Largest movements
- Tangible fixed assets +€46,376
up €46,376 (+1669.6%), from €2,778 to €49,154
- Receivables within one year +€27,560
up €27,560 (+72.2%), from €38,186 to €65,746
of which Other amounts receivable: +€28,871
- Cash -€23,784
down €23,784 (-22.0%), from €108,209 to €84,425
mainly Investment in fixed assets (net) (-€48,857) and Advances received (-€45,521)
- Advances received -€45,521
down €45,521 (-96.2%), from €47,295 to €1,774
- Debts after one year +€40,161
new in 2025: €40,161
- Reserves +€36,000
up €36,000 (+60.0%), from €60,000 to €96,000
- Current portion of long-term debt +€12,794
new in 2025: €12,794
- Tax, wage and social debts +€9,312
up €9,312 (+48.2%), from €19,325 to €28,636
of which Taxes: +€12,459
- Gross operating margin -€180,197
down €180,197 (-75.6%), from €238,241 to €58,044
- Depreciation -€31,661
down €31,661 (-92.7%), from €34,142 to €2,481
- Taxes -€27,597
down €27,597 (-58.5%), from €47,204 to €19,608
- Staff costs -€17,946
down €17,946 (-64.3%), from €27,914 to €9,967
- Financial income -€11,602
down €11,602 (-45.2%), from €25,646 to €14,044
of which Financial income: -€22,462
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 | €149,833 | €201,055 | +€51,222 | +34.2% |
| Fixed assets | 21/28 | €2,778 | €49,154 | +€46,376 | +1669.6% |
| Tangible fixed assets | 22/27 | €2,778 | €49,154 | +€46,376 | +1669.6% |
| Furniture and vehicles | 24 | €2,778 | €49,154 | +€46,376 | +1669.6% |
| Current assets | 29/58 | €147,055 | €151,900 | +€4,845 | +3.3% |
| Amounts receivable within one year | 40/41 | €38,186 | €65,746 | +€27,560 | +72.2% |
| Trade receivables | 40 | €4,249 | €2,938 | -€1,311 | -30.9% |
| Other amounts receivable | 41 | €33,937 | €62,808 | +€28,871 | +85.1% |
| Cash at bank and in hand | 54/58 | €108,209 | €84,425 | -€23,784 | -22.0% |
| Deferred charges and accrued income | 490/1 | €660 | €1,730 | +€1,070 | +162.1% |
| Total equity and liabilities | 10/49 | €149,833 | €201,055 | +€51,222 | +34.2% |
| Equity | 10/15 | €80,895 | €117,399 | +€36,504 | +45.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €60,000 | €96,000 | +€36,000 | +60.0% |
| Distributable reserves | 133 | €60,000 | €96,000 | +€36,000 | +60.0% |
| Profit (loss) carried forward | 14 | €2,295 | €2,799 | +€504 | +22.0% |
| Amounts payable | 17/49 | €68,938 | €83,655 | +€14,718 | +21.3% |
| Amounts payable after more than one year | 17 | - | €40,161 | +€40,161 | |
| Financial debts | 170/4 | - | €40,161 | +€40,161 | |
| Amounts payable within one year | 42/48 | €68,938 | €43,494 | -€25,443 | -36.9% |
| Current portion of amounts payable after more than one year | 42 | - | €12,794 | +€12,794 | |
| Trade debts | 44 | €2,318 | €290 | -€2,028 | -87.5% |
| Suppliers | 440/4 | €2,318 | €290 | -€2,028 | -87.5% |
| Advances received on contracts in progress | 46 | €47,295 | €1,774 | -€45,521 | -96.2% |
| Taxes, remuneration and social security | 45 | €19,325 | €28,636 | +€9,312 | +48.2% |
| Taxes | 450/3 | €14,389 | €26,848 | +€12,459 | +86.6% |
| Remuneration and social security | 454/9 | €4,936 | €1,788 | -€3,148 | -63.8% |
| Remuneration, social security and pensions | 62 | €27,914 | €9,967 | -€17,946 | -64.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,142 | €2,481 | -€31,661 | -92.7% |
| Other operating charges | 640/8 | €1,193 | €1,376 | +€183 | +15.4% |
| Gross operating margin | 9900 | €238,241 | €58,044 | -€180,197 | -75.6% |
| Operating profit (loss) | 9901 | €174,993 | €44,220 | -€130,773 | -74.7% |
| Financial income | 75/76B | €25,646 | €14,044 | -€11,602 | -45.2% |
| Recurring financial income | 75 | €25,646 | €3,184 | -€22,462 | -87.6% |
| Non-recurring financial income | 76B | - | €10,860 | +€10,860 | |
| Financial charges | 65/66B | €5,447 | €2,152 | -€3,295 | -60.5% |
| Recurring financial charges | 65 | €5,447 | €2,152 | -€3,295 | -60.5% |
| Profit (loss) for the period before taxes | 9903 | €195,192 | €56,112 | -€139,081 | -71.3% |
| Income taxes | 67/77 | €47,204 | €19,608 | -€27,597 | -58.5% |
| Profit (loss) for the period | 9904 | €147,988 | €36,504 | -€111,484 | -75.3% |
| Profit (loss) for the period to be appropriated | 9905 | €147,988 | €36,504 | -€111,484 | -75.3% |
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 11 October 2026 via checked.be.