FREDERIK VAN DAELE: 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 VAN DAELE
Largest movements
- Cash -€176,762
down €176,762 (-78.9%), from €224,065 to €47,303
mainly Stocks and contracts (-€113,850) and Investment in fixed assets (net) (-€92,057)
- Stocks and contracts +€113,850
up €113,850, from €0 to €113,850
- Tangible fixed assets +€88,654
up €88,654 (+2,287%), from €3,876 to €92,531
of which Furniture and vehicles: +€89,458
- Receivables within one year +€29,771
up €29,771 (+55.0%), from €54,179 to €83,950
of which Trade receivables: +€15,340
- Other debts +€76,428
up €76,428 (+53.9%), from €141,889 to €218,317
- Trade debts -€20,534
down €20,534 (-86.6%), from €23,719 to €3,186
- Staff costs -€14,007
down €14,007 (-25.0%), from €56,131 to €42,124
- Gross operating margin -€12,553
down €12,553 (-21.0%), from €59,775 to €47,222
- Depreciation +€2,349
up €2,349 (+223%), from €1,053 to €3,402
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 | €282,120 | €337,633 | +€55,514 | +19.7% |
| Fixed assets | 21/28 | €3,876 | €92,531 | +€88,654 | +2,287% |
| Tangible fixed assets | 22/27 | €3,876 | €92,531 | +€88,654 | +2,287% |
| Land and buildings | 22 | €2,797 | €2,238 | -€559 | -20.0% |
| Plant, machinery and equipment | 23 | €851 | €607 | -€245 | -28.7% |
| Furniture and vehicles | 24 | €228 | €89,686 | +€89,458 | +39,303% |
| Current assets | 29/58 | €278,243 | €245,103 | -€33,141 | -11.9% |
| Stocks and contracts in progress | 3 | €0 | €113,850 | +€113,850 | |
| Stocks | 30/36 | €0 | €113,850 | +€113,850 | |
| Amounts receivable within one year | 40/41 | €54,179 | €83,950 | +€29,771 | +55.0% |
| Trade receivables | 40 | €48,437 | €63,777 | +€15,340 | +31.7% |
| Other amounts receivable | 41 | €5,742 | €20,173 | +€14,431 | +251% |
| Cash at bank and in hand | 54/58 | €224,065 | €47,303 | -€176,762 | -78.9% |
| Total equity and liabilities | 10/49 | €282,120 | €337,633 | +€55,514 | +19.7% |
| Equity | 10/15 | €114,867 | €116,130 | +€1,263 | +1.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €89,704 | €89,704 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €5,039 | €5,039 | = | 0.0% |
| Distributable reserves | 133 | €84,665 | €84,665 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,963 | €20,226 | +€1,263 | +6.7% |
| Amounts payable | 17/49 | €167,253 | €221,503 | +€54,251 | +32.4% |
| Amounts payable within one year | 42/48 | €167,253 | €221,503 | +€54,251 | +32.4% |
| Trade debts | 44 | €23,719 | €3,186 | -€20,534 | -86.6% |
| Suppliers | 440/4 | €23,719 | €3,186 | -€20,534 | -86.6% |
| Taxes, remuneration and social security | 45 | €1,644 | €0 | -€1,644 | -100% |
| Taxes | 450/3 | €0 | - | = | |
| Remuneration and social security | 454/9 | €1,644 | €0 | -€1,644 | -100% |
| Other amounts payable | 47/48 | €141,889 | €218,317 | +€76,428 | +53.9% |
| Remuneration, social security and pensions | 62 | €56,131 | €42,124 | -€14,007 | -25.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,053 | €3,402 | +€2,349 | +223% |
| Other operating charges | 640/8 | €1,368 | €1,419 | +€51 | +3.7% |
| Gross operating margin | 9900 | €59,775 | €47,222 | -€12,553 | -21.0% |
| Operating profit (loss) | 9901 | €1,222 | €277 | -€945 | -77.4% |
| Financial income | 75/76B | €964 | €1,116 | +€152 | +15.8% |
| Recurring financial income | 75 | €964 | €1,116 | +€152 | +15.8% |
| Financial charges | 65/66B | €125 | €130 | +€5 | +4.2% |
| Recurring financial charges | 65 | €125 | €130 | +€5 | +4.2% |
| Profit (loss) for the period before taxes | 9903 | €2,062 | €1,263 | -€799 | -38.7% |
| Profit (loss) for the period | 9904 | €2,062 | €1,263 | -€799 | -38.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,062 | €1,263 | -€799 | -38.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.