Frederik Ver Eecke: 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 Ver Eecke
Largest movements
- Cash -€19,445
down €19,445 (-17.3%), from €112,151 to €92,706
mainly Contributions, distributions and other (-€32,790) and Debts after one year (-€18,667)
- Tangible fixed assets -€16,086
down €16,086 (-10.7%), from €149,799 to €133,713
of which Land and buildings: -€15,409
- Receivables within one year +€3,918
up €3,918 (+26.6%), from €14,723 to €18,641
of which Other amounts receivable: +€6,078
- Debts after one year -€18,667
down €18,667 (-25.0%), from €74,666 to €55,999
- Other debts +€15,549
up €15,549 (+93.3%), from €16,660 to €32,208
- Contributions -€15,000
down €15,000 (-80.6%), from €18,600 to €3,600
- Reserves -€10,058
down €10,058 (-8.1%), from €123,937 to €113,879
- Tax, wage and social debts -€3,035
down €3,035 (-18.8%), from €16,121 to €13,085
of which Taxes: -€3,035
- Gross operating margin -€36,521
down €36,521 (-48.4%), from €75,389 to €38,869
- Taxes -€10,145
down €10,145 (-71.5%), from €14,194 to €4,050
- Depreciation +€1,506
up €1,506 (+7.7%), from €19,530 to €21,036
- Financial charges -€1,151
down €1,151 (-27.0%), from €4,256 to €3,105
- Other operating charges +€1,110
up €1,110 (+49.2%), from €2,259 to €3,369
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 | €276,672 | €246,679 | -€29,993 | -10.8% |
| Fixed assets | 21/28 | €149,799 | €133,713 | -€16,086 | -10.7% |
| Tangible fixed assets | 22/27 | €149,799 | €133,713 | -€16,086 | -10.7% |
| Land and buildings | 22 | €129,525 | €114,115 | -€15,409 | -11.9% |
| Plant, machinery and equipment | 23 | €15,396 | €11,907 | -€3,489 | -22.7% |
| Furniture and vehicles | 24 | €105 | €4,246 | +€4,141 | +3946.7% |
| Other tangible fixed assets | 26 | €4,773 | €3,444 | -€1,328 | -27.8% |
| Current assets | 29/58 | €126,874 | €112,967 | -€13,907 | -11.0% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €14,723 | €18,641 | +€3,918 | +26.6% |
| Trade receivables | 40 | €14,723 | €12,563 | -€2,160 | -14.7% |
| Other amounts receivable | 41 | €0 | €6,078 | +€6,078 | |
| Cash at bank and in hand | 54/58 | €112,151 | €92,706 | -€19,445 | -17.3% |
| Deferred charges and accrued income | 490/1 | - | €1,620 | +€1,620 | |
| Total equity and liabilities | 10/49 | €276,672 | €246,679 | -€29,993 | -10.8% |
| Equity | 10/15 | €142,537 | €117,479 | -€25,058 | -17.6% |
| Contributions | 10/11 | €18,600 | €3,600 | -€15,000 | -80.6% |
| Reserves | 13 | €123,937 | €113,879 | -€10,058 | -8.1% |
| Distributable reserves | 133 | €123,937 | €113,879 | -€10,058 | -8.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €134,136 | €129,200 | -€4,935 | -3.7% |
| Amounts payable after more than one year | 17 | €74,666 | €55,999 | -€18,667 | -25.0% |
| Financial debts | 170/4 | €74,666 | €55,999 | -€18,667 | -25.0% |
| Amounts payable within one year | 42/48 | €57,973 | €73,201 | +€15,228 | +26.3% |
| Current portion of amounts payable after more than one year | 42 | €18,667 | €18,667 | = | 0.0% |
| Trade debts | 44 | €6,526 | €9,240 | +€2,715 | +41.6% |
| Suppliers | 440/4 | €6,526 | €9,240 | +€2,715 | +41.6% |
| Taxes, remuneration and social security | 45 | €16,121 | €13,085 | -€3,035 | -18.8% |
| Taxes | 450/3 | €14,071 | €11,035 | -€3,035 | -21.6% |
| Remuneration and social security | 454/9 | €2,050 | €2,050 | = | 0.0% |
| Other amounts payable | 47/48 | €16,660 | €32,208 | +€15,549 | +93.3% |
| Accrued charges and deferred income | 492/3 | €1,497 | €0 | -€1,497 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,530 | €21,036 | +€1,506 | +7.7% |
| Other operating charges | 640/8 | €2,259 | €3,369 | +€1,110 | +49.2% |
| Gross operating margin | 9900 | €75,389 | €38,869 | -€36,521 | -48.4% |
| Operating profit (loss) | 9901 | €53,601 | €14,464 | -€39,137 | -73.0% |
| Financial income | 75/76B | €607 | €424 | -€183 | -30.1% |
| Recurring financial income | 75 | €607 | €424 | -€183 | -30.1% |
| Financial charges | 65/66B | €4,256 | €3,105 | -€1,151 | -27.0% |
| Recurring financial charges | 65 | €4,256 | €3,105 | -€1,151 | -27.0% |
| Profit (loss) for the period before taxes | 9903 | €49,951 | €11,782 | -€38,169 | -76.4% |
| Income taxes | 67/77 | €14,194 | €4,050 | -€10,145 | -71.5% |
| Profit (loss) for the period | 9904 | €35,757 | €7,733 | -€28,024 | -78.4% |
| Profit (loss) for the period to be appropriated | 9905 | €35,757 | €7,733 | -€28,024 | -78.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.