Dr. E.FRANS: what changed
Two fiscal 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. E.FRANS
Largest movements
- Cash -€144,450
down €144,450 (-70.3%), from €205,410 to €60,961
mainly Other debts (-€165,294) and Current investments (-€26,711)
- Current investments +€26,711
up €26,711 (+3.4%), from €794,692 to €821,403
- Deferred charges and accrued income -€24,506
down €24,506 (-92.6%), from €26,466 to €1,960
- Tangible fixed assets -€11,236
down €11,236 (-58.0%), from €19,377 to €8,141
- Other debts -€165,294
down €165,294 (-57.2%), from €288,889 to €123,596
- Reserves +€52,703
up €52,703 (+7.6%), from €696,798 to €749,501
- Tax, wage and social debts -€26,356
down €26,356 (-79.3%), from €33,248 to €6,892
- Gross operating margin -€22,991
down €22,991 (-17.9%), from €128,118 to €105,128
- Financial charges -€12,233
down €12,233 (-53.6%), from €22,817 to €10,584
- Financial income -€6,311
down €6,311 (-54.0%), from €11,697 to €5,385
- Taxes +€3,764
up €3,764 (+12.8%), from €29,401 to €33,165
- Other operating charges -€1,825
down €1,825 (-39.3%), from €4,649 to €2,824
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.
Cash bridge derived
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 | €1,047,561 | €899,633 | -€147,928 | -14.1% |
| Fixed assets | 21/28 | €20,352 | €9,116 | -€11,236 | -55.2% |
| Tangible fixed assets | 22/27 | €19,377 | €8,141 | -€11,236 | -58.0% |
| Furniture and vehicles | 24 | €19,377 | €8,141 | -€11,236 | -58.0% |
| Financial fixed assets | 28 | €975 | €975 | = | 0.0% |
| Current assets | 29/58 | €1,027,209 | €890,517 | -€136,692 | -13.3% |
| Amounts receivable within one year | 40/41 | €640 | €6,192 | +€5,552 | +867.5% |
| Trade receivables | 40 | €640 | €3,344 | +€2,704 | +422.5% |
| Other amounts receivable | 41 | - | €2,848 | +€2,848 | |
| Current investments | 50/53 | €794,692 | €821,403 | +€26,711 | +3.4% |
| Cash at bank and in hand | 54/58 | €205,410 | €60,961 | -€144,450 | -70.3% |
| Deferred charges and accrued income | 490/1 | €26,466 | €1,960 | -€24,506 | -92.6% |
| Total equity and liabilities | 10/49 | €1,047,561 | €899,633 | -€147,928 | -14.1% |
| Equity | 10/15 | €709,198 | €761,901 | +€52,703 | +7.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €696,798 | €749,501 | +€52,703 | +7.6% |
| Distributable reserves | 133 | €696,798 | €749,501 | +€52,703 | +7.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €338,363 | €137,732 | -€200,631 | -59.3% |
| Amounts payable within one year | 42/48 | €338,363 | €137,732 | -€200,631 | -59.3% |
| Financial debts | 43 | €15,779 | €7,214 | -€8,565 | -54.3% |
| Credit institutions | 430/8 | €15,779 | €7,214 | -€8,565 | -54.3% |
| Trade debts | 44 | €447 | €31 | -€416 | -93.1% |
| Suppliers | 440/4 | €447 | €31 | -€416 | -93.1% |
| Taxes, remuneration and social security | 45 | €33,248 | €6,892 | -€26,356 | -79.3% |
| Taxes | 450/3 | €33,248 | €6,892 | -€26,356 | -79.3% |
| Other amounts payable | 47/48 | €288,889 | €123,596 | -€165,294 | -57.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,708 | €11,236 | +€528 | +4.9% |
| Other operating charges | 640/8 | €4,649 | €2,824 | -€1,825 | -39.3% |
| Gross operating margin | 9900 | €128,118 | €105,128 | -€22,991 | -17.9% |
| Operating profit (loss) | 9901 | €112,761 | €91,068 | -€21,694 | -19.2% |
| Financial income | 75/76B | €11,697 | €5,385 | -€6,311 | -54.0% |
| Recurring financial income | 75 | €11,697 | €5,385 | -€6,311 | -54.0% |
| Financial charges | 65/66B | €22,817 | €10,584 | -€12,233 | -53.6% |
| Recurring financial charges | 65 | €22,817 | €10,584 | -€12,233 | -53.6% |
| Profit (loss) for the period before taxes | 9903 | €101,641 | €85,869 | -€15,772 | -15.5% |
| Income taxes | 67/77 | €29,401 | €33,165 | +€3,764 | +12.8% |
| Profit (loss) for the period | 9904 | €72,239 | €52,703 | -€19,536 | -27.0% |
| Profit (loss) for the period to be appropriated | 9905 | €72,239 | €52,703 | -€19,536 | -27.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.