PATRICK FIEVEZ: 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.
PATRICK FIEVEZ
Largest movements
- Current investments +€25,000
new in 2025: €25,000
- Receivables within one year -€11,619
down €11,619 (-100%), from €11,619 to €0
- Cash +€10,238
up €10,238 (+27.4%), from €37,300 to €47,537
mainly Net result for the year (+€25,734) and Receivables within one year (+€11,619)
- Profit (loss) carried forward +€25,734
up €25,734 (+73.5%), from €35,010 to €60,744
- Tax, wage and social debts -€3,304
down €3,304 (-25.9%), from €12,775 to €9,471
of which Taxes: -€3,455
- Trade debts +€1,064
up €1,064 (+319%), from €333 to €1,397
- Gross operating margin -€11,652
down €11,652 (-25.1%), from €46,465 to €34,812
- Taxes -€2,245
down €2,245 (-22.7%), from €9,892 to €7,647
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 | €49,418 | €73,020 | +€23,602 | +47.8% |
| Current assets | 29/58 | €49,418 | €73,020 | +€23,602 | +47.8% |
| Amounts receivable within one year | 40/41 | €11,619 | €0 | -€11,619 | -100% |
| Trade receivables | 40 | €11,619 | €0 | -€11,619 | -100% |
| Current investments | 50/53 | - | €25,000 | +€25,000 | |
| Cash at bank and in hand | 54/58 | €37,300 | €47,537 | +€10,238 | +27.4% |
| Deferred charges and accrued income | 490/1 | €500 | €483 | -€17 | -3.4% |
| Total equity and liabilities | 10/49 | €49,418 | €73,020 | +€23,602 | +47.8% |
| Equity | 10/15 | €36,010 | €61,744 | +€25,734 | +71.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €35,010 | €60,744 | +€25,734 | +73.5% |
| Amounts payable | 17/49 | €13,408 | €11,276 | -€2,133 | -15.9% |
| Amounts payable within one year | 42/48 | €13,108 | €10,976 | -€2,133 | -16.3% |
| Trade debts | 44 | €333 | €1,397 | +€1,064 | +319% |
| Suppliers | 440/4 | €333 | €1,397 | +€1,064 | +319% |
| Taxes, remuneration and social security | 45 | €12,775 | €9,471 | -€3,304 | -25.9% |
| Taxes | 450/3 | €11,102 | €7,647 | -€3,455 | -31.1% |
| Remuneration and social security | 454/9 | €1,673 | €1,824 | +€150 | +9.0% |
| Other amounts payable | 47/48 | - | €108 | +€108 | |
| Accrued charges and deferred income | 492/3 | €300 | €300 | = | 0.0% |
| Other operating charges | 640/8 | €691 | €656 | -€34 | -4.9% |
| Gross operating margin | 9900 | €46,465 | €34,812 | -€11,652 | -25.1% |
| Operating profit (loss) | 9901 | €45,774 | €34,156 | -€11,618 | -25.4% |
| Financial charges | 65/66B | €872 | €774 | -€98 | -11.2% |
| Recurring financial charges | 65 | €872 | €774 | -€98 | -11.2% |
| Profit (loss) for the period before taxes | 9903 | €44,902 | €33,381 | -€11,520 | -25.7% |
| Income taxes | 67/77 | €9,892 | €7,647 | -€2,245 | -22.7% |
| Profit (loss) for the period | 9904 | €35,010 | €25,734 | -€9,275 | -26.5% |
| Profit (loss) for the period to be appropriated | 9905 | €35,010 | €25,734 | -€9,275 | -26.5% |
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 18 October 2026 via checked.be.