FREEK VAN NECK: 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.
FREEK VAN NECK
Largest movements
- Tangible fixed assets +€14,666
up €14,666 (+3.8%), from €382,202 to €396,868
of which Land and buildings: +€23,681
- Cash +€4,622
up €4,622 (+25.9%), from €17,836 to €22,458
mainly Depreciation (+€33,967) and Net result for the year (+€23,759)
- Reserves +€23,759
up €23,759 (+12.1%), from €196,799 to €220,558
- Debts after one year +€21,567
up €21,567 (+18.5%), from €116,882 to €138,449
- Other debts -€16,875
down €16,875 (-54.3%), from €31,064 to €14,189
- Current portion of long-term debt -€16,140
down €16,140 (-50.0%), from €32,279 to €16,140
- Trade debts +€7,475
up €7,475 (+65.1%), from €11,478 to €18,953
- Gross operating margin +€13,320
up €13,320 (+22.2%), from €59,969 to €73,289
- Financial charges -€5,863
down €5,863 (-56.6%), from €10,350 to €4,487
- Taxes +€3,690
up €3,690 (+59.8%), from €6,167 to €9,858
- Financial income -€1,717
down €1,717 (-79.4%), from €2,163 to €446
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 | €414,884 | €435,017 | +€20,133 | +4.9% |
| Fixed assets | 21/28 | €382,202 | €396,868 | +€14,666 | +3.8% |
| Tangible fixed assets | 22/27 | €382,202 | €396,868 | +€14,666 | +3.8% |
| Land and buildings | 22 | €363,858 | €387,538 | +€23,681 | +6.5% |
| Plant, machinery and equipment | 23 | €12,740 | €7,219 | -€5,521 | -43.3% |
| Furniture and vehicles | 24 | €5,604 | €2,111 | -€3,493 | -62.3% |
| Current assets | 29/58 | €32,682 | €38,149 | +€5,467 | +16.7% |
| Amounts receivable within one year | 40/41 | €14,846 | €15,690 | +€845 | +5.7% |
| Other amounts receivable | 41 | €14,846 | €15,690 | +€845 | +5.7% |
| Cash at bank and in hand | 54/58 | €17,836 | €22,458 | +€4,622 | +25.9% |
| Total equity and liabilities | 10/49 | €414,884 | €435,017 | +€20,133 | +4.9% |
| Equity | 10/15 | €215,399 | €239,158 | +€23,759 | +11.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €196,799 | €220,558 | +€23,759 | +12.1% |
| Distributable reserves | 133 | €196,799 | €220,558 | +€23,759 | +12.1% |
| Amounts payable | 17/49 | €199,485 | €195,859 | -€3,626 | -1.8% |
| Amounts payable after more than one year | 17 | €116,882 | €138,449 | +€21,567 | +18.5% |
| Financial debts | 170/4 | €116,882 | €138,449 | +€21,567 | +18.5% |
| Amounts payable within one year | 42/48 | €82,603 | €57,410 | -€25,193 | -30.5% |
| Current portion of amounts payable after more than one year | 42 | €32,279 | €16,140 | -€16,140 | -50.0% |
| Financial debts | 43 | €3,000 | €3,000 | = | 0.0% |
| Credit institutions | 430/8 | €3,000 | €3,000 | = | 0.0% |
| Trade debts | 44 | €11,478 | €18,953 | +€7,475 | +65.1% |
| Suppliers | 440/4 | €11,478 | €18,953 | +€7,475 | +65.1% |
| Taxes, remuneration and social security | 45 | €4,782 | €5,128 | +€347 | +7.3% |
| Taxes | 450/3 | €4,782 | €5,128 | +€347 | +7.3% |
| Other amounts payable | 47/48 | €31,064 | €14,189 | -€16,875 | -54.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,171 | €33,967 | -€204 | -0.6% |
| Other operating charges | 640/8 | €1,543 | €1,663 | +€120 | +7.8% |
| Gross operating margin | 9900 | €59,969 | €73,289 | +€13,320 | +22.2% |
| Operating profit (loss) | 9901 | €24,255 | €37,658 | +€13,403 | +55.3% |
| Financial income | 75/76B | €2,163 | €446 | -€1,717 | -79.4% |
| Recurring financial income | 75 | €2,163 | €446 | -€1,717 | -79.4% |
| Financial charges | 65/66B | €10,350 | €4,487 | -€5,863 | -56.6% |
| Recurring financial charges | 65 | €10,350 | €4,487 | -€5,863 | -56.6% |
| Profit (loss) for the period before taxes | 9903 | €16,069 | €33,617 | +€17,548 | +109% |
| Income taxes | 67/77 | €6,167 | €9,858 | +€3,690 | +59.8% |
| Profit (loss) for the period | 9904 | €9,901 | €23,759 | +€13,858 | +140% |
| Profit (loss) for the period to be appropriated | 9905 | €9,901 | €23,759 | +€13,858 | +140% |
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 21 October 2026 via checked.be.