FREDERIC VAN AERDEN: 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 VAN AERDEN
Largest movements
- Cash +€35,525
up €35,525 (+92.5%), from €38,387 to €73,911
mainly Net result for the year (+€70,100) and Trade debts (+€5,826)
- Receivables within one year +€21,990
up €21,990 (+55.0%), from €39,985 to €61,975
of which Other amounts receivable: +€19,566
- Reserves +€70,000
up €70,000 (+35.8%), from €195,360 to €265,360
of which Distributable reserves: +€70,000
- Debts after one year -€16,531
down €16,531 (-11.1%), from €148,442 to €131,911
- Trade debts +€5,826
up €5,826 (+169%), from €3,447 to €9,274
- Gross operating margin +€29,602
up €29,602 (+40.1%), from €73,842 to €103,444
- Taxes +€7,926
up €7,926 (+41.4%), from €19,155 to €27,082
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 | €377,413 | €435,846 | +€58,433 | +15.5% |
| Fixed assets | 21/28 | €296,950 | €297,616 | +€666 | +0.2% |
| Intangible fixed assets | 21 | €11,579 | €11,579 | = | 0.0% |
| Tangible fixed assets | 22/27 | €285,371 | €286,038 | +€666 | +0.2% |
| Land and buildings | 22 | €275,000 | €275,000 | = | 0.0% |
| Plant, machinery and equipment | 23 | €1,731 | €1,239 | -€491 | -28.4% |
| Furniture and vehicles | 24 | €4,012 | €5,730 | +€1,718 | +42.8% |
| Other tangible fixed assets | 26 | €4,628 | €4,068 | -€560 | -12.1% |
| Current assets | 29/58 | €80,463 | €138,229 | +€57,766 | +71.8% |
| Amounts receivable within one year | 40/41 | €39,985 | €61,975 | +€21,990 | +55.0% |
| Trade receivables | 40 | €19,530 | €21,954 | +€2,424 | +12.4% |
| Other amounts receivable | 41 | €20,455 | €40,021 | +€19,566 | +95.7% |
| Cash at bank and in hand | 54/58 | €38,387 | €73,911 | +€35,525 | +92.5% |
| Deferred charges and accrued income | 490/1 | €2,092 | €2,344 | +€252 | +12.0% |
| Total equity and liabilities | 10/49 | €377,413 | €435,846 | +€58,433 | +15.5% |
| Equity | 10/15 | €203,125 | €273,225 | +€70,100 | +34.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €195,360 | €265,360 | +€70,000 | +35.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €193,500 | €263,500 | +€70,000 | +36.2% |
| Profit (loss) carried forward | 14 | €1,565 | €1,665 | +€100 | +6.4% |
| Amounts payable | 17/49 | €174,288 | €162,621 | -€11,667 | -6.7% |
| Amounts payable after more than one year | 17 | €148,442 | €131,911 | -€16,531 | -11.1% |
| Financial debts | 170/4 | €148,442 | €131,911 | -€16,531 | -11.1% |
| Amounts payable within one year | 42/48 | €22,748 | €29,096 | +€6,348 | +27.9% |
| Current portion of amounts payable after more than one year | 42 | €16,337 | €16,530 | +€193 | +1.2% |
| Trade debts | 44 | €3,447 | €9,274 | +€5,826 | +169% |
| Suppliers | 440/4 | €3,447 | €9,274 | +€5,826 | +169% |
| Taxes, remuneration and social security | 45 | €2,964 | €3,293 | +€329 | +11.1% |
| Taxes | 450/3 | €2,964 | €3,293 | +€329 | +11.1% |
| Accrued charges and deferred income | 492/3 | €3,097 | €1,614 | -€1,484 | -47.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,745 | €2,610 | -€136 | -4.9% |
| Other operating charges | 640/8 | €1,136 | €1,220 | +€84 | +7.4% |
| Non-recurring operating charges | 66A | - | €507 | +€507 | |
| Gross operating margin | 9900 | €73,842 | €103,444 | +€29,602 | +40.1% |
| Operating profit (loss) | 9901 | €69,961 | €99,108 | +€29,148 | +41.7% |
| Financial charges | 65/66B | €2,495 | €1,927 | -€568 | -22.8% |
| Recurring financial charges | 65 | €2,495 | €1,927 | -€568 | -22.8% |
| Profit (loss) for the period before taxes | 9903 | €67,465 | €97,181 | +€29,716 | +44.0% |
| Income taxes | 67/77 | €19,155 | €27,082 | +€7,926 | +41.4% |
| Profit (loss) for the period | 9904 | €48,310 | €70,100 | +€21,790 | +45.1% |
| Profit (loss) for the period to be appropriated | 9905 | €48,310 | €70,100 | +€21,790 | +45.1% |
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.