Frederic Van Dyck: 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 Dyck
Largest movements
- Intangible fixed assets +€1.1m
new in 2025: €1.1m
- Current investments -€241,960
down €241,960 (-58.7%), from €411,893 to €169,933
- Cash +€206,824
up €206,824 (+108%), from €191,059 to €397,883
mainly Contributions, distributions and other (+€660,000) and Net result for the year (+€281,965)
- Receivables within one year +€31,737
up €31,737 (+1,357%), from €2,339 to €34,077
of which Other amounts receivable: +€19,850
- Revaluation surpluses +€1.1m
new in 2025: €1.1m
- Reserves -€100,000
down €100,000 (-20.4%), from €490,610 to €390,610
of which Distributable reserves: -€98,140
- Other debts +€91,607
up €91,607 (+2,155%), from €4,251 to €95,858
- Gross operating margin +€54,413
up €54,413 (+12.0%), from €452,032 to €506,445
- Depreciation +€45,429
up €45,429 (+60.6%), from €74,952 to €120,381
- Taxes -€39,668
down €39,668 (-33.4%), from €118,805 to €79,136
- Financial income +€13,985
up €13,985 (+356%), from €3,932 to €17,917
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 | €1,104,326 | €2,151,069 | +€1.0m | +94.8% |
| Fixed assets | 21/28 | €470,501 | €1,534,302 | +€1.1m | +226% |
| Intangible fixed assets | 21 | - | €1,060,000 | +€1.1m | |
| Tangible fixed assets | 22/27 | €470,501 | €474,302 | +€3,801 | +0.8% |
| Land and buildings | 22 | €453,819 | €445,839 | -€7,980 | -1.8% |
| Furniture and vehicles | 24 | €9,318 | €28,464 | +€19,146 | +205% |
| Leasing and similar rights | 25 | €7,365 | - | -€7,365 | |
| Current assets | 29/58 | €633,824 | €616,766 | -€17,058 | -2.7% |
| Stocks and contracts in progress | 3 | - | €7,197 | +€7,197 | |
| Stocks | 30/36 | - | €7,197 | +€7,197 | |
| Amounts receivable within one year | 40/41 | €2,339 | €34,077 | +€31,737 | +1,357% |
| Trade receivables | 40 | €520 | €12,408 | +€11,888 | +2,286% |
| Other amounts receivable | 41 | €1,819 | €21,669 | +€19,850 | +1,091% |
| Current investments | 50/53 | €411,893 | €169,933 | -€241,960 | -58.7% |
| Cash at bank and in hand | 54/58 | €191,059 | €397,883 | +€206,824 | +108% |
| Deferred charges and accrued income | 490/1 | €28,533 | €7,676 | -€20,857 | -73.1% |
| Total equity and liabilities | 10/49 | €1,104,326 | €2,151,069 | +€1.0m | +94.8% |
| Equity | 10/15 | €788,628 | €1,730,593 | +€941,965 | +119% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | - | €1,060,000 | +€1.1m | |
| Reserves | 13 | €490,610 | €390,610 | -€100,000 | -20.4% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €470,000 | €371,860 | -€98,140 | -20.9% |
| Profit (loss) carried forward | 14 | €279,418 | €261,383 | -€18,035 | -6.5% |
| Amounts payable | 17/49 | €315,698 | €420,476 | +€104,778 | +33.2% |
| Amounts payable after more than one year | 17 | €266,763 | €246,486 | -€20,277 | -7.6% |
| Financial debts | 170/4 | €266,763 | €246,486 | -€20,277 | -7.6% |
| Amounts payable within one year | 42/48 | €48,935 | €173,990 | +€125,055 | +256% |
| Current portion of amounts payable after more than one year | 42 | €41,218 | €53,370 | +€12,152 | +29.5% |
| Taxes, remuneration and social security | 45 | €3,465 | €24,762 | +€21,297 | +615% |
| Taxes | 450/3 | - | €18,500 | +€18,500 | |
| Remuneration and social security | 454/9 | €3,465 | €6,262 | +€2,797 | +80.7% |
| Other amounts payable | 47/48 | €4,251 | €95,858 | +€91,607 | +2,155% |
| Non-recurring operating income | 76A | - | €47 | +€47 | |
| Remuneration, social security and pensions | 62 | €23,251 | €26,965 | +€3,715 | +16.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,952 | €120,381 | +€45,429 | +60.6% |
| Other operating charges | 640/8 | €3,099 | €2,661 | -€437 | -14.1% |
| Non-recurring operating charges | 66A | €363 | €1,804 | +€1,441 | +397% |
| Gross operating margin | 9900 | €452,032 | €506,445 | +€54,413 | +12.0% |
| Operating profit (loss) | 9901 | €350,368 | €354,633 | +€4,265 | +1.2% |
| Financial income | 75/76B | €3,932 | €17,917 | +€13,985 | +356% |
| Recurring financial income | 75 | €3,932 | €17,917 | +€13,985 | +356% |
| Financial charges | 65/66B | €10,422 | €11,449 | +€1,026 | +9.8% |
| Recurring financial charges | 65 | €10,422 | €11,449 | +€1,026 | +9.8% |
| Profit (loss) for the period before taxes | 9903 | €343,877 | €361,101 | +€17,224 | +5.0% |
| Income taxes | 67/77 | €118,805 | €79,136 | -€39,668 | -33.4% |
| Profit (loss) for the period | 9904 | €225,073 | €281,965 | +€56,892 | +25.3% |
| Profit (loss) for the period to be appropriated | 9905 | €225,073 | €281,965 | +€56,892 | +25.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.