FREDERIK MARIS: 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.
FREDERIK MARIS
Largest movements
- Cash +€25,212
up €25,212 (+21.2%), from €119,042 to €144,253
mainly Other debts (+€96,696) and Net result for the year (+€42,485)
- Tangible fixed assets +€11,115
new in 2025: €11,115
of which Land and buildings: +€7,774
- Receivables within one year -€3,170
down €3,170 (-88.8%), from €3,570 to €400
of which Trade receivables: -€2,729
- Other debts +€96,696
up €96,696 (+760%), from €12,719 to €109,415
- Profit (loss) carried forward -€56,002
down €56,002 (-87.0%), from €64,342 to €8,340
- Reserves -€21,513
no longer reported in 2025 (was €21,513)
- Tax, wage and social debts +€13,976
up €13,976 (+63.4%), from €22,037 to €36,013
of which Remuneration and social security: +€18,000
- Gross operating margin +€6,806
up €6,806 (+13.3%), from €51,004 to €57,810
- Taxes +€2,222
up €2,222 (+17.2%), from €12,898 to €15,120
- Financial income +€1,181
up €1,181 (+192%), from €616 to €1,796
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 | €122,611 | €155,768 | +€33,157 | +27.0% |
| Fixed assets | 21/28 | - | €11,115 | +€11,115 | |
| Tangible fixed assets | 22/27 | - | €11,115 | +€11,115 | |
| Land and buildings | 22 | - | €7,774 | +€7,774 | |
| Furniture and vehicles | 24 | - | €3,341 | +€3,341 | |
| Current assets | 29/58 | €122,611 | €144,653 | +€22,042 | +18.0% |
| Amounts receivable within one year | 40/41 | €3,570 | €400 | -€3,170 | -88.8% |
| Trade receivables | 40 | €2,729 | - | -€2,729 | |
| Other amounts receivable | 41 | €841 | €400 | -€441 | -52.4% |
| Cash at bank and in hand | 54/58 | €119,042 | €144,253 | +€25,212 | +21.2% |
| Total equity and liabilities | 10/49 | €122,611 | €155,768 | +€33,157 | +27.0% |
| Equity | 10/15 | €87,855 | €10,340 | -€77,515 | -88.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €21,513 | - | -€21,513 | |
| Distributable reserves | 133 | €21,513 | - | -€21,513 | |
| Profit (loss) carried forward | 14 | €64,342 | €8,340 | -€56,002 | -87.0% |
| Amounts payable | 17/49 | €34,756 | €145,428 | +€110,672 | +318% |
| Amounts payable within one year | 42/48 | €34,756 | €145,428 | +€110,672 | +318% |
| Taxes, remuneration and social security | 45 | €22,037 | €36,013 | +€13,976 | +63.4% |
| Taxes | 450/3 | €22,037 | €18,013 | -€4,024 | -18.3% |
| Remuneration and social security | 454/9 | - | €18,000 | +€18,000 | |
| Other amounts payable | 47/48 | €12,719 | €109,415 | +€96,696 | +760% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €375 | +€375 | |
| Other operating charges | 640/8 | €2,150 | €1,593 | -€556 | -25.9% |
| Gross operating margin | 9900 | €51,004 | €57,810 | +€6,806 | +13.3% |
| Operating profit (loss) | 9901 | €48,854 | €55,841 | +€6,987 | +14.3% |
| Financial income | 75/76B | €616 | €1,796 | +€1,181 | +192% |
| Recurring financial income | 75 | €616 | €1,796 | +€1,181 | +192% |
| Financial charges | 65/66B | €0 | €32 | +€32 | +21,267% |
| Recurring financial charges | 65 | €0 | €32 | +€32 | +21,267% |
| Profit (loss) for the period before taxes | 9903 | €49,469 | €57,606 | +€8,136 | +16.4% |
| Income taxes | 67/77 | €12,898 | €15,120 | +€2,222 | +17.2% |
| Profit (loss) for the period | 9904 | €36,572 | €42,485 | +€5,914 | +16.2% |
| Profit (loss) for the period to be appropriated | 9905 | €36,572 | €42,485 | +€5,914 | +16.2% |
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 20 October 2026 via checked.be.