FREDERIK VAN HOLLE: 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 HOLLE
Largest movements
- Receivables after one year +€374,000
new in 2025: €374,000
- Financial fixed assets -€303,000
no longer reported in 2025 (was €303,000)
- Cash -€81,792
down €81,792 (-39.0%), from €209,556 to €127,764
mainly Receivables after one year (-€374,000) and Contributions, distributions and other (-€180,000)
- Debts after one year -€50,646
no longer reported in 2025 (was €50,646)
- Short-term financial debts +€33,550
up €33,550 (+14.7%), from €228,250 to €261,800
- Reserves +€19,231
up €19,231 (+7.4%), from €259,955 to €279,186
- Tax, wage and social debts -€7,538
down €7,538 (-95.3%), from €7,913 to €375
- Gross operating margin +€34,093
up €34,093 (+14.8%), from €230,850 to €264,943
- Taxes +€6,283
up €6,283 (+11.5%), from €54,648 to €60,931
- Financial income +€2,962
up €2,962 (+37.9%), from €7,816 to €10,778
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 | €628,755 | €622,204 | -€6,550 | -1.0% |
| Fixed assets | 21/28 | €305,847 | €1,378 | -€304,469 | -99.5% |
| Tangible fixed assets | 22/27 | €2,847 | €1,378 | -€1,469 | -51.6% |
| Furniture and vehicles | 24 | €1,262 | €671 | -€591 | -46.8% |
| Other tangible fixed assets | 26 | €1,585 | €707 | -€878 | -55.4% |
| Financial fixed assets | 28 | €303,000 | - | -€303,000 | |
| Current assets | 29/58 | €322,907 | €620,826 | +€297,919 | +92.3% |
| Amounts receivable after more than one year | 29 | - | €374,000 | +€374,000 | |
| Other amounts receivable | 291 | - | €374,000 | +€374,000 | |
| Amounts receivable within one year | 40/41 | €2,748 | €3,420 | +€672 | +24.4% |
| Trade receivables | 40 | €2,531 | €2,641 | +€111 | +4.4% |
| Other amounts receivable | 41 | €218 | €779 | +€561 | +258% |
| Current investments | 50/53 | €100,000 | €100,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €209,556 | €127,764 | -€81,792 | -39.0% |
| Deferred charges and accrued income | 490/1 | €10,603 | €15,642 | +€5,039 | +47.5% |
| Total equity and liabilities | 10/49 | €628,755 | €622,204 | -€6,550 | -1.0% |
| Equity | 10/15 | €274,955 | €294,186 | +€19,231 | +7.0% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €259,955 | €279,186 | +€19,231 | +7.4% |
| Distributable reserves | 133 | €259,955 | €279,186 | +€19,231 | +7.4% |
| Amounts payable | 17/49 | €353,799 | €328,018 | -€25,781 | -7.3% |
| Amounts payable after more than one year | 17 | €50,646 | - | -€50,646 | |
| Financial debts | 170/4 | €50,646 | - | -€50,646 | |
| Amounts payable within one year | 42/48 | €291,443 | €315,137 | +€23,694 | +8.1% |
| Current portion of amounts payable after more than one year | 42 | €50,211 | €50,646 | +€435 | +0.9% |
| Financial debts | 43 | €228,250 | €261,800 | +€33,550 | +14.7% |
| Other loans | 439 | €228,250 | €261,800 | +€33,550 | +14.7% |
| Trade debts | 44 | €5,069 | €2,178 | -€2,890 | -57.0% |
| Suppliers | 440/4 | €5,069 | €2,178 | -€2,890 | -57.0% |
| Taxes, remuneration and social security | 45 | €7,913 | €375 | -€7,538 | -95.3% |
| Taxes | 450/3 | €7,913 | €375 | -€7,538 | -95.3% |
| Other amounts payable | 47/48 | - | €137 | +€137 | |
| Accrued charges and deferred income | 492/3 | €11,711 | €12,881 | +€1,171 | +10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,469 | €1,469 | = | 0.0% |
| Other operating charges | 640/8 | €1,171 | €1,056 | -€115 | -9.8% |
| Gross operating margin | 9900 | €230,850 | €264,943 | +€34,093 | +14.8% |
| Operating profit (loss) | 9901 | €228,210 | €262,418 | +€34,208 | +15.0% |
| Financial income | 75/76B | €7,816 | €10,778 | +€2,962 | +37.9% |
| Recurring financial income | 75 | €7,816 | €10,778 | +€2,962 | +37.9% |
| Financial charges | 65/66B | €12,435 | €13,035 | +€599 | +4.8% |
| Recurring financial charges | 65 | €12,435 | €13,035 | +€599 | +4.8% |
| Profit (loss) for the period before taxes | 9903 | €223,591 | €260,162 | +€36,571 | +16.4% |
| Income taxes | 67/77 | €54,648 | €60,931 | +€6,283 | +11.5% |
| Profit (loss) for the period | 9904 | €168,943 | €199,231 | +€30,288 | +17.9% |
| Profit (loss) for the period to be appropriated | 9905 | €168,943 | €199,231 | +€30,288 | +17.9% |
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 19 October 2026 via checked.be.