VAN BELLE FREDDY: 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.
VAN BELLE FREDDY
Largest movements
- Current investments +€249,568
new in 2025: €249,568
- Cash -€205,215
down €205,215 (-29.0%), from €707,860 to €502,645
mainly Current investments (-€249,568) and Contributions, distributions and other (-€191,513)
- Tangible fixed assets -€14,069
down €14,069 (-25.3%), from €55,646 to €41,577
- Other debts +€103,592
up €103,592 (+126%), from €82,018 to €185,610
- Reserves -€75,777
down €75,777 (-13.9%), from €546,880 to €471,102
of which Distributable reserves: -€75,777
- Tax, wage and social debts +€10,261
up €10,261 (+50.6%), from €20,269 to €30,530
of which Taxes: +€14,461
- Trade debts -€9,144
down €9,144 (-69.8%), from €13,093 to €3,948
- Gross operating margin +€50,248
up €50,248 (+36.3%), from €138,456 to €188,704
- Taxes +€27,425
up €27,425 (+101%), from €27,163 to €54,588
- Financial income +€9,313
up €9,313 (+954%), from €977 to €10,290
- Financial charges +€3,779
up €3,779 (+40.0%), from €9,450 to €13,229
- Depreciation +€3,705
up €3,705 (+35.8%), from €10,364 to €14,069
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 | €797,022 | €824,791 | +€27,769 | +3.5% |
| Fixed assets | 21/28 | €55,646 | €41,577 | -€14,069 | -25.3% |
| Tangible fixed assets | 22/27 | €55,646 | €41,577 | -€14,069 | -25.3% |
| Furniture and vehicles | 24 | €55,646 | €41,577 | -€14,069 | -25.3% |
| Current assets | 29/58 | €741,376 | €783,214 | +€41,838 | +5.6% |
| Amounts receivable within one year | 40/41 | €33,517 | €31,002 | -€2,515 | -7.5% |
| Trade receivables | 40 | €25,595 | €29,067 | +€3,472 | +13.6% |
| Other amounts receivable | 41 | €7,922 | €1,935 | -€5,987 | -75.6% |
| Current investments | 50/53 | - | €249,568 | +€249,568 | |
| Cash at bank and in hand | 54/58 | €707,860 | €502,645 | -€205,215 | -29.0% |
| Total equity and liabilities | 10/49 | €797,022 | €824,791 | +€27,769 | +3.5% |
| Equity | 10/15 | €565,480 | €489,702 | -€75,777 | -13.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €546,880 | €471,102 | -€75,777 | -13.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €545,020 | €469,242 | -€75,777 | -13.9% |
| Amounts payable | 17/49 | €231,543 | €335,089 | +€103,546 | +44.7% |
| Amounts payable after more than one year | 17 | €115,000 | €115,000 | = | 0.0% |
| Financial debts | 170/4 | €115,000 | €115,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €115,379 | €220,089 | +€104,710 | +90.8% |
| Trade debts | 44 | €13,093 | €3,948 | -€9,144 | -69.8% |
| Suppliers | 440/4 | €13,093 | €3,948 | -€9,144 | -69.8% |
| Taxes, remuneration and social security | 45 | €20,269 | €30,530 | +€10,261 | +50.6% |
| Taxes | 450/3 | €16,069 | €30,530 | +€14,461 | +90.0% |
| Remuneration and social security | 454/9 | €4,200 | - | -€4,200 | |
| Other amounts payable | 47/48 | €82,018 | €185,610 | +€103,592 | +126% |
| Accrued charges and deferred income | 492/3 | €1,164 | - | -€1,164 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,364 | €14,069 | +€3,705 | +35.8% |
| Other operating charges | 640/8 | €1,662 | €1,371 | -€290 | -17.5% |
| Gross operating margin | 9900 | €138,456 | €188,704 | +€50,248 | +36.3% |
| Operating profit (loss) | 9901 | €126,430 | €173,263 | +€46,833 | +37.0% |
| Financial income | 75/76B | €977 | €10,290 | +€9,313 | +954% |
| Recurring financial income | 75 | €977 | €10,290 | +€9,313 | +954% |
| Financial charges | 65/66B | €9,450 | €13,229 | +€3,779 | +40.0% |
| Recurring financial charges | 65 | €9,450 | €13,229 | +€3,779 | +40.0% |
| Profit (loss) for the period before taxes | 9903 | €117,957 | €170,324 | +€52,367 | +44.4% |
| Income taxes | 67/77 | €27,163 | €54,588 | +€27,425 | +101% |
| Profit (loss) for the period | 9904 | €90,794 | €115,736 | +€24,942 | +27.5% |
| Profit (loss) for the period to be appropriated | 9905 | €90,794 | €115,736 | +€24,942 | +27.5% |
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 31 October 2026 via checked.be.