SALMON FREDERIC: 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.
SALMON FREDERIC
Largest movements
- Cash +€51,633
up €51,633 (+74.7%), from €69,154 to €120,787
mainly Net result for the year (+€82,294) and Tax, wage and social debts (+€10,916)
- Receivables within one year +€22,662
up €22,662 (+508%), from €4,459 to €27,121
of which Other amounts receivable: +€16,761
- Deferred charges and accrued income +€17,548
up €17,548 (+850%), from €2,064 to €19,612
- Tangible fixed assets +€2,243
up €2,243 (+197%), from €1,141 to €3,384
of which Other tangible fixed assets: +€1,921
- Profit (loss) carried forward +€82,294
up €82,294 (+150%), from €54,821 to €137,115
- Tax, wage and social debts +€10,916
up €10,916 (+57.7%), from €18,932 to €29,848
of which Taxes: +€10,781
- Trade debts +€2,415
up €2,415 (+459%), from €526 to €2,941
- Gross operating margin +€25,665
up €25,665 (+31.3%), from €82,123 to €107,788
- Staff costs -€11,999
down €11,999 (-94.6%), from €12,678 to €679
- Taxes +€7,821
up €7,821 (+56.3%), from €13,882 to €21,703
- Financial charges +€1,706
up €1,706 (+316%), from €540 to €2,246
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 | €76,818 | €170,904 | +€94,086 | +122% |
| Fixed assets | 21/28 | €1,141 | €3,384 | +€2,243 | +197% |
| Tangible fixed assets | 22/27 | €1,141 | €3,384 | +€2,243 | +197% |
| Furniture and vehicles | 24 | €1,141 | €1,463 | +€322 | +28.2% |
| Other tangible fixed assets | 26 | - | €1,921 | +€1,921 | |
| Current assets | 29/58 | €75,677 | €167,520 | +€91,843 | +121% |
| Amounts receivable within one year | 40/41 | €4,459 | €27,121 | +€22,662 | +508% |
| Trade receivables | 40 | €4,459 | €10,360 | +€5,901 | +132% |
| Other amounts receivable | 41 | - | €16,761 | +€16,761 | |
| Cash at bank and in hand | 54/58 | €69,154 | €120,787 | +€51,633 | +74.7% |
| Deferred charges and accrued income | 490/1 | €2,064 | €19,612 | +€17,548 | +850% |
| Total equity and liabilities | 10/49 | €76,818 | €170,904 | +€94,086 | +122% |
| Equity | 10/15 | €55,821 | €138,115 | +€82,294 | +147% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,821 | €137,115 | +€82,294 | +150% |
| Amounts payable | 17/49 | €20,997 | €32,789 | +€11,792 | +56.2% |
| Amounts payable within one year | 42/48 | €20,997 | €32,789 | +€11,792 | +56.2% |
| Trade debts | 44 | €526 | €2,941 | +€2,415 | +459% |
| Suppliers | 440/4 | €526 | €2,941 | +€2,415 | +459% |
| Taxes, remuneration and social security | 45 | €18,932 | €29,848 | +€10,916 | +57.7% |
| Taxes | 450/3 | €18,932 | €29,713 | +€10,781 | +56.9% |
| Remuneration and social security | 454/9 | - | €135 | +€135 | |
| Other amounts payable | 47/48 | €1,539 | - | -€1,539 | |
| Remuneration, social security and pensions | 62 | €12,678 | €679 | -€11,999 | -94.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €189 | €1,036 | +€847 | +448% |
| Other operating charges | 640/8 | €13 | €284 | +€271 | +2,085% |
| Gross operating margin | 9900 | €82,123 | €107,788 | +€25,665 | +31.3% |
| Operating profit (loss) | 9901 | €69,243 | €105,789 | +€36,546 | +52.8% |
| Financial income | 75/76B | - | €454 | +€454 | |
| Recurring financial income | 75 | - | €454 | +€454 | |
| Financial charges | 65/66B | €540 | €2,246 | +€1,706 | +316% |
| Recurring financial charges | 65 | €540 | €2,246 | +€1,706 | +316% |
| Profit (loss) for the period before taxes | 9903 | €68,703 | €103,997 | +€35,294 | +51.4% |
| Income taxes | 67/77 | €13,882 | €21,703 | +€7,821 | +56.3% |
| Profit (loss) for the period | 9904 | €54,821 | €82,294 | +€27,473 | +50.1% |
| Profit (loss) for the period to be appropriated | 9905 | €54,821 | €82,294 | +€27,473 | +50.1% |
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 14 October 2026 via checked.be.