FREDERIK DECOCK: what changed
Two fiscal 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.
FREDERIK DECOCK
Largest movements
- Cash +€41,557
up €41,557 (+1354.0%), from €3,069 to €44,627
mainly Debts after one year (+€68,509) and Depreciation (+€9,219)
- Receivables within one year +€24,286
up €24,286 (+102.7%), from €23,643 to €47,928
of which Other amounts receivable: +€32,950
- Deferred charges and accrued income +€2,559
up €2,559 (+81.0%), from €3,158 to €5,717
- Tangible fixed assets -€2,412
down €2,412 (-6.4%), from €37,699 to €35,287
of which Other tangible fixed assets: -€1,788
- Debts after one year +€68,509
up €68,509 (+531.2%), from €12,898 to €81,407
- Trade debts -€10,438
down €10,438 (-93.4%), from €11,175 to €737
- Short-term financial debts +€5,984
up €5,984 (+13.6%), from €44,016 to €50,000
- Current portion of long-term debt +€3,410
up €3,410 (+64.7%), from €5,271 to €8,681
- Tax, wage and social debts -€1,663
down €1,663 (-16.1%), from €10,361 to €8,698
- Gross operating margin -€12,970
down €12,970 (-45.6%), from €28,456 to €15,486
- Taxes -€2,337
down €2,337 (-59.6%), from €3,923 to €1,586
- Financial income +€1,926
up €1,926 (+88.1%), from €2,187 to €4,113
- Other operating charges -€1,350
down €1,350 (-54.7%), from €2,469 to €1,119
- Depreciation +€806
up €806 (+9.6%), from €8,413 to €9,219
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 | €95,569 | €161,558 | +€65,990 | +69.0% |
| Fixed assets | 21/28 | €37,699 | €35,287 | -€2,412 | -6.4% |
| Tangible fixed assets | 22/27 | €37,699 | €35,287 | -€2,412 | -6.4% |
| Furniture and vehicles | 24 | €16,299 | €15,674 | -€624 | -3.8% |
| Other tangible fixed assets | 26 | €21,400 | €19,612 | -€1,788 | -8.4% |
| Current assets | 29/58 | €57,870 | €126,271 | +€68,401 | +118.2% |
| Amounts receivable after more than one year | 29 | €28,000 | €28,000 | = | 0.0% |
| Other amounts receivable | 291 | €28,000 | €28,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €23,643 | €47,928 | +€24,286 | +102.7% |
| Trade receivables | 40 | €14,654 | €5,990 | -€8,665 | -59.1% |
| Other amounts receivable | 41 | €8,989 | €41,939 | +€32,950 | +366.6% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €3,069 | €44,627 | +€41,557 | +1354.0% |
| Deferred charges and accrued income | 490/1 | €3,158 | €5,717 | +€2,559 | +81.0% |
| Total equity and liabilities | 10/49 | €95,569 | €161,558 | +€65,990 | +69.0% |
| Equity | 10/15 | €11,847 | €12,035 | +€188 | +1.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €757 | €757 | = | 0.0% |
| Non-distributable reserves | 130/1 | €757 | €757 | = | 0.0% |
| Reserves not available under the articles | 1311 | €757 | €757 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,890 | €5,078 | +€188 | +3.8% |
| Amounts payable | 17/49 | €83,721 | €149,523 | +€65,801 | +78.6% |
| Amounts payable after more than one year | 17 | €12,898 | €81,407 | +€68,509 | +531.2% |
| Financial debts | 170/4 | €12,898 | €81,407 | +€68,509 | +531.2% |
| Amounts payable within one year | 42/48 | €70,823 | €68,116 | -€2,708 | -3.8% |
| Current portion of amounts payable after more than one year | 42 | €5,271 | €8,681 | +€3,410 | +64.7% |
| Financial debts | 43 | €44,016 | €50,000 | +€5,984 | +13.6% |
| Credit institutions | 430/8 | €44,016 | €50,000 | +€5,984 | +13.6% |
| Trade debts | 44 | €11,175 | €737 | -€10,438 | -93.4% |
| Suppliers | 440/4 | €11,175 | €737 | -€10,438 | -93.4% |
| Taxes, remuneration and social security | 45 | €10,361 | €8,698 | -€1,663 | -16.1% |
| Taxes | 450/3 | €10,361 | €8,698 | -€1,663 | -16.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,413 | €9,219 | +€806 | +9.6% |
| Other operating charges | 640/8 | €2,469 | €1,119 | -€1,350 | -54.7% |
| Gross operating margin | 9900 | €28,456 | €15,486 | -€12,970 | -45.6% |
| Operating profit (loss) | 9901 | €17,575 | €5,148 | -€12,426 | -70.7% |
| Financial income | 75/76B | €2,187 | €4,113 | +€1,926 | +88.1% |
| Recurring financial income | 75 | €2,187 | €4,113 | +€1,926 | +88.1% |
| Financial charges | 65/66B | €7,632 | €7,487 | -€144 | -1.9% |
| Recurring financial charges | 65 | €7,632 | €7,487 | -€144 | -1.9% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €12,130 | €1,774 | -€10,356 | -85.4% |
| Income taxes | 67/77 | €3,923 | €1,586 | -€2,337 | -59.6% |
| Profit (loss) for the period | 9904 | €8,207 | €188 | -€8,019 | -97.7% |
| Profit (loss) for the period to be appropriated | 9905 | €8,207 | €188 | -€8,019 | -97.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.