DR. C. FRAMERY: 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.
DR. C. FRAMERY
Largest movements
- Cash +€21,102
up €21,102 (+25.0%), from €84,278 to €105,380
mainly Net result for the year (+€96,490) and Other debts (+€18,700)
- Tangible fixed assets -€17,268
down €17,268 (-27.1%), from €63,752 to €46,484
of which Leasing and similar rights: -€14,346
- Receivables within one year -€3,820
down €3,820 (-58.8%), from €6,494 to €2,674
of which Trade receivables: -€2,586
- Deferred charges and accrued income -€3,743
down €3,743 (-22.3%), from €16,806 to €13,063
- Other debts +€18,700
up €18,700 (+29.3%), from €63,750 to €82,450
- Debts after one year -€14,350
down €14,350 (-31.7%), from €45,288 to €30,938
- Tax, wage and social debts -€7,504
down €7,504 (-21.0%), from €35,745 to €28,241
of which Taxes: -€7,840
- Gross operating margin +€20,426
up €20,426 (+13.5%), from €151,452 to €171,877
- Taxes +€6,905
up €6,905 (+30.5%), from €22,640 to €29,545
- Other operating charges -€4,543
down €4,543 (-74.4%), from €6,110 to €1,567
- Depreciation -€2,117
down €2,117 (-10.4%), from €20,284 to €18,167
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 | €171,331 | €167,600 | -€3,730 | -2.2% |
| Fixed assets | 21/28 | €63,752 | €46,484 | -€17,268 | -27.1% |
| Tangible fixed assets | 22/27 | €63,752 | €46,484 | -€17,268 | -27.1% |
| Plant, machinery and equipment | 23 | €2,612 | €2,022 | -€590 | -22.6% |
| Furniture and vehicles | 24 | €4,542 | €2,210 | -€2,332 | -51.3% |
| Leasing and similar rights | 25 | €56,598 | €42,252 | -€14,346 | -25.3% |
| Current assets | 29/58 | €107,578 | €121,116 | +€13,538 | +12.6% |
| Amounts receivable within one year | 40/41 | €6,494 | €2,674 | -€3,820 | -58.8% |
| Trade receivables | 40 | €2,586 | - | -€2,586 | |
| Other amounts receivable | 41 | €3,908 | €2,674 | -€1,234 | -31.6% |
| Cash at bank and in hand | 54/58 | €84,278 | €105,380 | +€21,102 | +25.0% |
| Deferred charges and accrued income | 490/1 | €16,806 | €13,063 | -€3,743 | -22.3% |
| Total equity and liabilities | 10/49 | €171,331 | €167,600 | -€3,730 | -2.2% |
| Equity | 10/15 | €8,076 | €7,566 | -€510 | -6.3% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €576 | €66 | -€510 | -88.6% |
| Amounts payable | 17/49 | €163,254 | €160,034 | -€3,220 | -2.0% |
| Amounts payable after more than one year | 17 | €45,288 | €30,938 | -€14,350 | -31.7% |
| Financial debts | 170/4 | €45,288 | €30,938 | -€14,350 | -31.7% |
| Amounts payable within one year | 42/48 | €117,966 | €129,096 | +€11,130 | +9.4% |
| Current portion of amounts payable after more than one year | 42 | €13,244 | €14,350 | +€1,106 | +8.3% |
| Trade debts | 44 | €5,227 | €4,056 | -€1,172 | -22.4% |
| Suppliers | 440/4 | €5,227 | €4,056 | -€1,172 | -22.4% |
| Taxes, remuneration and social security | 45 | €35,745 | €28,241 | -€7,504 | -21.0% |
| Taxes | 450/3 | €31,240 | €23,400 | -€7,840 | -25.1% |
| Remuneration and social security | 454/9 | €4,505 | €4,841 | +€335 | +7.4% |
| Other amounts payable | 47/48 | €63,750 | €82,450 | +€18,700 | +29.3% |
| Non-recurring operating income | 76A | €1,086 | - | -€1,086 | |
| Remuneration, social security and pensions | 62 | €21,071 | €21,247 | +€176 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,284 | €18,167 | -€2,117 | -10.4% |
| Other operating charges | 640/8 | €6,110 | €1,567 | -€4,543 | -74.4% |
| Gross operating margin | 9900 | €151,452 | €171,877 | +€20,426 | +13.5% |
| Operating profit (loss) | 9901 | €103,987 | €130,896 | +€26,909 | +25.9% |
| Financial income | 75/76B | €1 | €1 | -€0 | -40.0% |
| Recurring financial income | 75 | €1 | €1 | -€0 | -40.0% |
| Financial charges | 65/66B | €5,926 | €4,862 | -€1,064 | -18.0% |
| Recurring financial charges | 65 | €5,926 | €4,862 | -€1,064 | -18.0% |
| Profit (loss) for the period before taxes | 9903 | €98,061 | €126,035 | +€27,973 | +28.5% |
| Income taxes | 67/77 | €22,640 | €29,545 | +€6,905 | +30.5% |
| Profit (loss) for the period | 9904 | €75,421 | €96,490 | +€21,068 | +27.9% |
| Profit (loss) for the period to be appropriated | 9905 | €75,421 | €96,490 | +€21,068 | +27.9% |
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 15 October 2026 via checked.be.