Frédéric Tombeur: 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 Tombeur
Largest movements
- Receivables within one year +€43,147
up €43,147 (+58.6%), from €73,652 to €116,799
of which Trade receivables: +€43,147
- Cash -€11,801
down €11,801 (-98.7%), from €11,959 to €158
mainly Receivables within one year (-€43,147) and Investment in fixed assets (net) (-€2,397)
- Deferred charges and accrued income -€1,601
down €1,601 (-95.5%), from €1,676 to €75
- Tangible fixed assets +€1,560
up €1,560 (+87.3%), from €1,787 to €3,347
of which Furniture and vehicles: +€1,656
- Profit (loss) carried forward +€31,018
up €31,018 (+14.1%), from -€220,162 to -€189,144
- Tax, wage and social debts +€3,004
up €3,004 (+70.8%), from €4,246 to €7,250
- Other debts -€1,604
down €1,604 (-1.3%), from €126,345 to €124,741
- Gross operating margin +€19,667
up €19,667 (+145.9%), from €13,476 to €33,142
- Other operating charges -€8,750
down €8,750 (-97.4%), from €8,984 to €234
- Depreciation -€685
down €685 (-45.0%), from €1,522 to €837
- Financial charges +€336
up €336 (+64.6%), from €520 to €856
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 | €89,074 | €120,379 | +€31,305 | +35.1% |
| Fixed assets | 21/28 | €1,787 | €3,347 | +€1,560 | +87.3% |
| Tangible fixed assets | 22/27 | €1,787 | €3,347 | +€1,560 | +87.3% |
| Plant, machinery and equipment | 23 | €150 | €55 | -€96 | -63.7% |
| Furniture and vehicles | 24 | €1,637 | €3,292 | +€1,656 | +101.2% |
| Current assets | 29/58 | €87,287 | €117,032 | +€29,745 | +34.1% |
| Amounts receivable within one year | 40/41 | €73,652 | €116,799 | +€43,147 | +58.6% |
| Trade receivables | 40 | €68,843 | €111,990 | +€43,147 | +62.7% |
| Other amounts receivable | 41 | €4,809 | €4,809 | +€0 | 0.0% |
| Cash at bank and in hand | 54/58 | €11,959 | €158 | -€11,801 | -98.7% |
| Deferred charges and accrued income | 490/1 | €1,676 | €75 | -€1,601 | -95.5% |
| Total equity and liabilities | 10/49 | €89,074 | €120,379 | +€31,305 | +35.1% |
| Equity | 10/15 | -€65,530 | -€34,512 | +€31,018 | +47.3% |
| Contributions | 10/11 | €74,400 | €74,400 | = | 0.0% |
| Reserves | 13 | €80,232 | €80,232 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,440 | €7,440 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,440 | €7,440 | = | 0.0% |
| Distributable reserves | 133 | €72,792 | €72,792 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€220,162 | -€189,144 | +€31,018 | +14.1% |
| Amounts payable | 17/49 | €154,604 | €154,891 | +€287 | +0.2% |
| Amounts payable within one year | 42/48 | €154,604 | €154,891 | +€287 | +0.2% |
| Trade debts | 44 | €22,963 | €21,850 | -€1,113 | -4.8% |
| Suppliers | 440/4 | €22,963 | €21,850 | -€1,113 | -4.8% |
| Advances received on contracts in progress | 46 | €1,049 | €1,049 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €4,246 | €7,250 | +€3,004 | +70.8% |
| Taxes | 450/3 | €4,246 | €7,250 | +€3,004 | +70.8% |
| Other amounts payable | 47/48 | €126,345 | €124,741 | -€1,604 | -1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,522 | €837 | -€685 | -45.0% |
| Other operating charges | 640/8 | €8,984 | €234 | -€8,750 | -97.4% |
| Gross operating margin | 9900 | €13,476 | €33,142 | +€19,667 | +145.9% |
| Operating profit (loss) | 9901 | €2,970 | €32,071 | +€29,102 | +980.0% |
| Financial income | 75/76B | €28 | €0 | -€28 | -99.9% |
| Recurring financial income | 75 | €28 | €0 | -€28 | -99.9% |
| Financial charges | 65/66B | €520 | €856 | +€336 | +64.6% |
| Recurring financial charges | 65 | €520 | €856 | +€336 | +64.6% |
| Profit (loss) for the period before taxes | 9903 | €2,478 | €31,215 | +€28,737 | +1159.8% |
| Income taxes | 67/77 | €124 | €197 | +€73 | +59.0% |
| Profit (loss) for the period | 9904 | €2,354 | €31,018 | +€28,664 | +1217.8% |
| Profit (loss) for the period to be appropriated | 9905 | €2,354 | €31,018 | +€28,664 | +1217.8% |
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.