BEL - FRITS: what changed
BEL - FRITS
Largest movements
- Tangible fixed assets +€615,884
up €615,884 (+47.5%), from €1.3m to €1.9m
of which Plant, machinery and equipment: +€399,845
- Current investments -€198,669
down €198,669 (-59.7%), from €332,531 to €133,861
- Stocks and contracts -€161,180
down €161,180 (-50.3%), from €320,375 to €159,196
- Receivables within one year +€84,714
up €84,714 (+24.7%), from €342,429 to €427,143
of which Other amounts receivable: +€59,014
- Deferred charges and accrued income +€50,064
up €50,064 (+1,776%), from €2,818 to €52,882
- Debts after one year +€289,127
up €289,127 (+54.0%), from €535,801 to €824,928
- Reserves +€231,647
up €231,647 (+21.9%), from €1.1m to €1.3m
of which Distributable reserves: +€231,647
- Current portion of long-term debt +€185,935
up €185,935 (+51.4%), from €361,941 to €547,875
- Other debts -€138,050
down €138,050 (-57.0%), from €242,250 to €104,200
- Trade debts -€136,095
down €136,095 (-57.2%), from €238,129 to €102,034
- Gross operating margin -€132,055
down €132,055 (-11.6%), from €1.1m to €1.0m
- Depreciation +€90,487
up €90,487 (+53.9%), from €167,906 to €258,393
- Taxes -€88,006
down €88,006 (-47.5%), from €185,278 to €97,272
- Other operating charges +€35,485
up €35,485 (+258%), from €13,738 to €49,222
- Staff costs +€11,961
up €11,961 (+5.7%), from €209,094 to €221,056
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,593,737 | €2,991,919 | +€398,182 | +15.4% |
| Fixed assets | 21/28 | €1,298,660 | €1,914,544 | +€615,884 | +47.4% |
| Tangible fixed assets | 22/27 | €1,297,901 | €1,913,785 | +€615,884 | +47.5% |
| Land and buildings | 22 | €686,282 | €798,261 | +€111,979 | +16.3% |
| Plant, machinery and equipment | 23 | €327,073 | €726,918 | +€399,845 | +122% |
| Furniture and vehicles | 24 | €284,546 | €388,606 | +€104,060 | +36.6% |
| Financial fixed assets | 28 | €759 | €759 | = | 0.0% |
| Current assets | 29/58 | €1,295,077 | €1,077,375 | -€217,702 | -16.8% |
| Stocks and contracts in progress | 3 | €320,375 | €159,196 | -€161,180 | -50.3% |
| Stocks | 30/36 | €320,375 | €159,196 | -€161,180 | -50.3% |
| Amounts receivable within one year | 40/41 | €342,429 | €427,143 | +€84,714 | +24.7% |
| Trade receivables | 40 | €292,794 | €318,494 | +€25,700 | +8.8% |
| Other amounts receivable | 41 | €49,635 | €108,649 | +€59,014 | +119% |
| Current investments | 50/53 | €332,531 | €133,861 | -€198,669 | -59.7% |
| Cash at bank and in hand | 54/58 | €296,923 | €304,293 | +€7,370 | +2.5% |
| Deferred charges and accrued income | 490/1 | €2,818 | €52,882 | +€50,064 | +1,776% |
| Total equity and liabilities | 10/49 | €2,593,737 | €2,991,919 | +€398,182 | +15.4% |
| Equity | 10/15 | €1,079,566 | €1,311,213 | +€231,647 | +21.5% |
| Contributions | 10/11 | €19,831 | €19,831 | = | 0.0% |
| Reserves | 13 | €1,059,735 | €1,291,382 | +€231,647 | +21.9% |
| Tax-exempt reserves | 132 | €12,293 | €12,293 | = | 0.0% |
| Distributable reserves | 133 | €1,047,442 | €1,279,089 | +€231,647 | +22.1% |
| Amounts payable | 17/49 | €1,514,170 | €1,680,706 | +€166,535 | +11.0% |
| Amounts payable after more than one year | 17 | €535,801 | €824,928 | +€289,127 | +54.0% |
| Financial debts | 170/4 | €535,801 | €824,928 | +€289,127 | +54.0% |
| Amounts payable within one year | 42/48 | €978,370 | €855,778 | -€122,592 | -12.5% |
| Current portion of amounts payable after more than one year | 42 | €361,941 | €547,875 | +€185,935 | +51.4% |
| Trade debts | 44 | €238,129 | €102,034 | -€136,095 | -57.2% |
| Suppliers | 440/4 | €238,129 | €102,034 | -€136,095 | -57.2% |
| Taxes, remuneration and social security | 45 | €136,050 | €101,668 | -€34,382 | -25.3% |
| Taxes | 450/3 | €103,128 | €86,928 | -€16,201 | -15.7% |
| Remuneration and social security | 454/9 | €32,922 | €14,741 | -€18,181 | -55.2% |
| Other amounts payable | 47/48 | €242,250 | €104,200 | -€138,050 | -57.0% |
| Remuneration, social security and pensions | 62 | €209,094 | €221,056 | +€11,961 | +5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €167,906 | €258,393 | +€90,487 | +53.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,398 | - | +€1,398 | |
| Other operating charges | 640/8 | €13,738 | €49,222 | +€35,485 | +258% |
| Non-recurring operating charges | 66A | €250 | - | -€250 | |
| Gross operating margin | 9900 | €1,137,538 | €1,005,483 | -€132,055 | -11.6% |
| Operating profit (loss) | 9901 | €747,948 | €476,812 | -€271,136 | -36.3% |
| Financial income | 75/76B | €1,412 | €4,964 | +€3,552 | +252% |
| Recurring financial income | 75 | €1,412 | €4,964 | +€3,552 | +252% |
| Financial charges | 65/66B | €25,177 | €32,857 | +€7,680 | +30.5% |
| Recurring financial charges | 65 | €25,177 | €32,857 | +€7,680 | +30.5% |
| Profit (loss) for the period before taxes | 9903 | €724,182 | €448,918 | -€275,264 | -38.0% |
| Income taxes | 67/77 | €185,278 | €97,272 | -€88,006 | -47.5% |
| Profit (loss) for the period | 9904 | €538,904 | €351,647 | -€187,258 | -34.7% |
| Profit (loss) for the period to be appropriated | 9905 | €538,904 | €351,647 | -€187,258 | -34.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.