FREDERICK Olivier: 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.
FREDERICK Olivier
Largest movements
- Cash +€43,683
up €43,683 (+59.8%), from €73,100 to €116,783
mainly Other debts (+€47,500) and Net result for the year (+€28,326)
- Receivables within one year -€12,501
down €12,501 (-48.1%), from €25,964 to €13,463
of which Other amounts receivable: -€6,400
- Tangible fixed assets -€4,278
down €4,278 (-20.7%), from €20,705 to €16,427
of which Furniture and vehicles: -€4,610
- Other debts +€47,500
up €47,500 (+380%), from €12,500 to €60,000
- Profit (loss) carried forward -€31,674
down €31,674 (-59.9%), from €52,835 to €21,161
- Trade debts +€14,403
up €14,403 (+37.2%), from €38,731 to €53,134
- Debts after one year -€3,734
down €3,734 (-37.5%), from €9,959 to €6,225
- Gross operating margin +€21,104
up €21,104 (+91.8%), from €22,981 to €44,085
- Taxes +€4,980
up €4,980 (+167%), from €2,988 to €7,968
- Depreciation -€2,300
down €2,300 (-27.3%), from €8,418 to €6,118
- Financial income -€758
down €758 (-69.8%), from €1,086 to €328
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 | €124,054 | €151,889 | +€27,835 | +22.4% |
| Fixed assets | 21/28 | €20,705 | €16,427 | -€4,278 | -20.7% |
| Tangible fixed assets | 22/27 | €20,705 | €16,427 | -€4,278 | -20.7% |
| Plant, machinery and equipment | 23 | €2,491 | €2,822 | +€331 | +13.3% |
| Furniture and vehicles | 24 | €18,214 | €13,605 | -€4,610 | -25.3% |
| Current assets | 29/58 | €103,349 | €135,462 | +€32,113 | +31.1% |
| Stocks and contracts in progress | 3 | €3,205 | €3,205 | = | 0.0% |
| Stocks | 30/36 | €3,205 | €3,205 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €25,964 | €13,463 | -€12,501 | -48.1% |
| Trade receivables | 40 | €7,828 | €1,726 | -€6,102 | -77.9% |
| Other amounts receivable | 41 | €18,137 | €11,737 | -€6,400 | -35.3% |
| Cash at bank and in hand | 54/58 | €73,100 | €116,783 | +€43,683 | +59.8% |
| Deferred charges and accrued income | 490/1 | €1,079 | €2,011 | +€932 | +86.4% |
| Total equity and liabilities | 10/49 | €124,054 | €151,889 | +€27,835 | +22.4% |
| Equity | 10/15 | €56,835 | €25,161 | -€31,674 | -55.7% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,835 | €21,161 | -€31,674 | -59.9% |
| Amounts payable | 17/49 | €67,219 | €126,728 | +€59,509 | +88.5% |
| Amounts payable after more than one year | 17 | €9,959 | €6,225 | -€3,734 | -37.5% |
| Financial debts | 170/4 | €9,959 | €6,225 | -€3,734 | -37.5% |
| Amounts payable within one year | 42/48 | €57,194 | €120,435 | +€63,242 | +111% |
| Current portion of amounts payable after more than one year | 42 | €3,588 | €3,734 | +€146 | +4.1% |
| Trade debts | 44 | €38,731 | €53,134 | +€14,403 | +37.2% |
| Suppliers | 440/4 | €38,731 | €53,134 | +€14,403 | +37.2% |
| Taxes, remuneration and social security | 45 | €2,375 | €3,568 | +€1,192 | +50.2% |
| Taxes | 450/3 | €2,375 | €3,568 | +€1,192 | +50.2% |
| Other amounts payable | 47/48 | €12,500 | €60,000 | +€47,500 | +380% |
| Accrued charges and deferred income | 492/3 | €66 | €67 | +€1 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,418 | €6,118 | -€2,300 | -27.3% |
| Other operating charges | 640/8 | €692 | €1,032 | +€340 | +49.1% |
| Gross operating margin | 9900 | €22,981 | €44,085 | +€21,104 | +91.8% |
| Operating profit (loss) | 9901 | €13,872 | €36,936 | +€23,064 | +166% |
| Financial income | 75/76B | €1,086 | €328 | -€758 | -69.8% |
| Recurring financial income | 75 | €1,086 | €328 | -€758 | -69.8% |
| Financial charges | 65/66B | €833 | €970 | +€137 | +16.5% |
| Recurring financial charges | 65 | €833 | €970 | +€137 | +16.5% |
| Profit (loss) for the period before taxes | 9903 | €14,125 | €36,293 | +€22,168 | +157% |
| Income taxes | 67/77 | €2,988 | €7,968 | +€4,980 | +167% |
| Profit (loss) for the period | 9904 | €11,137 | €28,326 | +€17,188 | +154% |
| Profit (loss) for the period to be appropriated | 9905 | €11,137 | €28,326 | +€17,188 | +154% |
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.