De Frene: 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.
De Frene
Largest movements
- Receivables within one year +€44,009
up €44,009 (+63.4%), from €69,449 to €113,458
of which Other amounts receivable: +€32,209
- Intangible fixed assets -€16,000
down €16,000 (-14.6%), from €109,370 to €93,370
- Deferred charges and accrued income -€14,514
down €14,514 (-53.3%), from €27,244 to €12,731
- Cash +€6,959
up €6,959 (+724,904%), from €1 to €6,960
mainly Net result for the year (+€33,731) and Other debts (+€27,906)
- Other debts +€27,906
up €27,906 (+224%), from €12,458 to €40,364
- Debts after one year -€22,841
down €22,841 (-24.3%), from €94,023 to €71,182
- Trade debts +€12,831
up €12,831 (+32.0%), from €40,036 to €52,867
- Tax, wage and social debts +€10,359
up €10,359 (+40.6%), from €25,541 to €35,900
of which Taxes: +€14,389
- Short-term financial debts -€10,254
down €10,254 (-100%), from €10,254 to €0
- Staff costs -€34,269
down €34,269 (-58.5%), from €58,530 to €24,262
- Taxes +€8,861
up €8,861 (+185%), from €4,802 to €13,663
- Gross operating margin +€7,209
up €7,209 (+8.2%), from €88,205 to €95,414
- Write-downs +€2,268
new in 2025: €2,268
- Other operating charges -€1,306
down €1,306 (-53.7%), from €2,432 to €1,126
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 | €211,212 | €231,374 | +€20,162 | +9.5% |
| Fixed assets | 21/28 | €114,518 | €98,226 | -€16,292 | -14.2% |
| Intangible fixed assets | 21 | €109,370 | €93,370 | -€16,000 | -14.6% |
| Tangible fixed assets | 22/27 | €5,148 | €4,856 | -€292 | -5.7% |
| Furniture and vehicles | 24 | €5,148 | €4,856 | -€292 | -5.7% |
| Current assets | 29/58 | €96,695 | €133,148 | +€36,454 | +37.7% |
| Amounts receivable within one year | 40/41 | €69,449 | €113,458 | +€44,009 | +63.4% |
| Trade receivables | 40 | €52,195 | €63,995 | +€11,800 | +22.6% |
| Other amounts receivable | 41 | €17,254 | €49,463 | +€32,209 | +187% |
| Cash at bank and in hand | 54/58 | €1 | €6,960 | +€6,959 | +724,904% |
| Deferred charges and accrued income | 490/1 | €27,244 | €12,731 | -€14,514 | -53.3% |
| Total equity and liabilities | 10/49 | €211,212 | €231,374 | +€20,162 | +9.5% |
| Equity | 10/15 | €6,489 | €8,220 | +€1,731 | +26.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €3,489 | €5,220 | +€1,731 | +49.6% |
| Distributable reserves | 133 | €3,489 | €5,220 | +€1,731 | +49.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €204,723 | €223,154 | +€18,431 | +9.0% |
| Amounts payable after more than one year | 17 | €94,023 | €71,182 | -€22,841 | -24.3% |
| Financial debts | 170/4 | €94,023 | €71,182 | -€22,841 | -24.3% |
| Amounts payable within one year | 42/48 | €110,700 | €151,972 | +€41,272 | +37.3% |
| Current portion of amounts payable after more than one year | 42 | €22,411 | €22,841 | +€430 | +1.9% |
| Financial debts | 43 | €10,254 | €0 | -€10,254 | -100% |
| Credit institutions | 430/8 | €10,254 | €0 | -€10,254 | -100% |
| Trade debts | 44 | €40,036 | €52,867 | +€12,831 | +32.0% |
| Suppliers | 440/4 | €40,036 | €52,867 | +€12,831 | +32.0% |
| Taxes, remuneration and social security | 45 | €25,541 | €35,900 | +€10,359 | +40.6% |
| Taxes | 450/3 | €16,455 | €30,844 | +€14,389 | +87.4% |
| Remuneration and social security | 454/9 | €9,086 | €5,056 | -€4,030 | -44.4% |
| Other amounts payable | 47/48 | €12,458 | €40,364 | +€27,906 | +224% |
| Remuneration, social security and pensions | 62 | €58,530 | €24,262 | -€34,269 | -58.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,936 | €17,943 | +€8 | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,268 | +€2,268 | |
| Other operating charges | 640/8 | €2,432 | €1,126 | -€1,306 | -53.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €88,205 | €95,414 | +€7,209 | +8.2% |
| Operating profit (loss) | 9901 | €9,306 | €49,815 | +€40,509 | +435% |
| Financial income | 75/76B | €265 | €1,339 | +€1,075 | +406% |
| Recurring financial income | 75 | €265 | €1,339 | +€1,075 | +406% |
| Financial charges | 65/66B | €3,607 | €3,760 | +€153 | +4.2% |
| Recurring financial charges | 65 | €3,607 | €3,760 | +€153 | +4.2% |
| Profit (loss) for the period before taxes | 9903 | €5,964 | €47,394 | +€41,430 | +695% |
| Income taxes | 67/77 | €4,802 | €13,663 | +€8,861 | +185% |
| Profit (loss) for the period | 9904 | €1,162 | €33,731 | +€32,569 | +2,803% |
| Profit (loss) for the period to be appropriated | 9905 | €1,162 | €33,731 | +€32,569 | +2,803% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.