Frédéric van den Wouwer: 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 van den Wouwer
Largest movements
- Tangible fixed assets -€9,151
down €9,151 (-15.1%), from €60,523 to €51,372
of which Furniture and vehicles: -€8,615
- Profit (loss) carried forward -€16,794
down €16,794 (-9.0%), from -€186,573 to -€203,368
- Other debts +€8,814
up €8,814 (+2.0%), from €443,318 to €452,131
- Gross operating margin +€7,675
up €7,675 (+75.8%), from -€10,130 to -€2,455
- Depreciation +€5,753
up €5,753 (+67.5%), from €8,520 to €14,272
- Financial charges -€128
down €128 (-65.5%), from €195 to €67
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 | €277,664 | €270,273 | -€7,391 | -2.7% |
| Fixed assets | 21/28 | €60,523 | €51,372 | -€9,151 | -15.1% |
| Tangible fixed assets | 22/27 | €60,523 | €51,372 | -€9,151 | -15.1% |
| Furniture and vehicles | 24 | €55,534 | €46,919 | -€8,615 | -15.5% |
| Other tangible fixed assets | 26 | €4,989 | €4,453 | -€537 | -10.8% |
| Current assets | 29/58 | €217,141 | €218,901 | +€1,760 | +0.8% |
| Amounts receivable within one year | 40/41 | €215,526 | €215,899 | +€373 | +0.2% |
| Other amounts receivable | 41 | €215,526 | €215,899 | +€373 | +0.2% |
| Current investments | 50/53 | €2 | €2 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €302 | €1,605 | +€1,304 | +432% |
| Deferred charges and accrued income | 490/1 | €1,310 | €1,394 | +€84 | +6.4% |
| Total equity and liabilities | 10/49 | €277,664 | €270,273 | -€7,391 | -2.7% |
| Equity | 10/15 | -€166,113 | -€182,908 | -€16,794 | -10.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€186,573 | -€203,368 | -€16,794 | -9.0% |
| Amounts payable | 17/49 | €443,777 | €453,181 | +€9,403 | +2.1% |
| Amounts payable within one year | 42/48 | €443,777 | €453,181 | +€9,403 | +2.1% |
| Trade debts | 44 | €460 | €1,049 | +€590 | +128% |
| Suppliers | 440/4 | €460 | €1,049 | +€590 | +128% |
| Other amounts payable | 47/48 | €443,318 | €452,131 | +€8,814 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,520 | €14,272 | +€5,753 | +67.5% |
| Gross operating margin | 9900 | -€10,130 | -€2,455 | +€7,675 | +75.8% |
| Operating profit (loss) | 9901 | -€18,649 | -€16,727 | +€1,922 | +10.3% |
| Financial income | 75/76B | €22 | - | -€22 | |
| Recurring financial income | 75 | €22 | - | -€22 | |
| Financial charges | 65/66B | €195 | €67 | -€128 | -65.5% |
| Recurring financial charges | 65 | €195 | €67 | -€128 | -65.5% |
| Profit (loss) for the period before taxes | 9903 | -€18,822 | -€16,794 | +€2,027 | +10.8% |
| Profit (loss) for the period | 9904 | -€18,822 | -€16,794 | +€2,027 | +10.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,822 | -€16,794 | +€2,027 | +10.8% |
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 22 October 2026 via checked.be.