F Rame: 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.
F Rame
Largest movements
- Tangible fixed assets -€166,730
down €166,730 (-17.9%), from €933,200 to €766,470
of which Land and buildings: -€139,896
- Short-term financial debts -€250,000
down €250,000 (-100.0%), from €250,000 to €0
- Profit (loss) carried forward +€180,752
up €180,752 (+79.5%), from -€227,391 to -€46,639
- Debts after one year -€61,383
down €61,383 (-53.9%), from €113,853 to €52,470
- Reserves -€34,631
down €34,631 (-4.2%), from €833,382 to €798,750
of which Tax-exempt reserves: -€34,631
- Tax, wage and social debts +€32,024
up €32,024 (+579.2%), from €5,529 to €37,552
- Gross operating margin +€117,179
up €117,179 (+77.5%), from €151,223 to €268,402
- Taxes +€42,467
up €42,467 (+190.0%), from €22,347 to €64,814
- Financial charges -€7,740
down €7,740 (-51.5%), from €15,023 to €7,283
- Depreciation -€6,522
down €6,522 (-9.7%), from €67,100 to €60,577
- Other operating charges -€5,768
down €5,768 (-46.4%), from €12,423 to €6,655
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 | €1,192,434 | €1,021,613 | -€170,820 | -14.3% |
| Fixed assets | 21/28 | €933,200 | €766,470 | -€166,730 | -17.9% |
| Tangible fixed assets | 22/27 | €933,200 | €766,470 | -€166,730 | -17.9% |
| Land and buildings | 22 | €820,314 | €680,418 | -€139,896 | -17.1% |
| Plant, machinery and equipment | 23 | €35,771 | €31,185 | -€4,585 | -12.8% |
| Furniture and vehicles | 24 | €77,115 | €54,867 | -€22,248 | -28.9% |
| Current assets | 29/58 | €259,234 | €255,144 | -€4,090 | -1.6% |
| Stocks and contracts in progress | 3 | €3,860 | €3,860 | = | 0.0% |
| Stocks | 30/36 | €3,860 | €3,860 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €32,225 | €34,327 | +€2,102 | +6.5% |
| Trade receivables | 40 | €3,992 | €243 | -€3,749 | -93.9% |
| Other amounts receivable | 41 | €28,233 | €34,084 | +€5,851 | +20.7% |
| Cash at bank and in hand | 54/58 | €220,160 | €213,828 | -€6,332 | -2.9% |
| Deferred charges and accrued income | 490/1 | €2,989 | €3,128 | +€140 | +4.7% |
| Total equity and liabilities | 10/49 | €1,192,434 | €1,021,613 | -€170,820 | -14.3% |
| Equity | 10/15 | €624,591 | €770,711 | +€146,120 | +23.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €833,382 | €798,750 | -€34,631 | -4.2% |
| Tax-exempt reserves | 132 | €237,828 | €203,197 | -€34,631 | -14.6% |
| Distributable reserves | 133 | €595,554 | €595,554 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€227,391 | -€46,639 | +€180,752 | +79.5% |
| Provisions and deferred taxes | 16 | €107,503 | €90,472 | -€17,031 | -15.8% |
| Deferred taxes | 168 | €107,503 | €90,472 | -€17,031 | -15.8% |
| Amounts payable | 17/49 | €460,340 | €160,430 | -€299,910 | -65.1% |
| Amounts payable after more than one year | 17 | €113,853 | €52,470 | -€61,383 | -53.9% |
| Financial debts | 170/4 | €113,853 | €52,470 | -€61,383 | -53.9% |
| Amounts payable within one year | 42/48 | €340,766 | €106,624 | -€234,142 | -68.7% |
| Current portion of amounts payable after more than one year | 42 | €59,555 | €61,383 | +€1,828 | +3.1% |
| Financial debts | 43 | €250,000 | €0 | -€250,000 | -100.0% |
| Other loans | 439 | €250,000 | €0 | -€250,000 | -100.0% |
| Trade debts | 44 | €25,619 | €7,689 | -€17,931 | -70.0% |
| Suppliers | 440/4 | €25,619 | €7,689 | -€17,931 | -70.0% |
| Taxes, remuneration and social security | 45 | €5,529 | €37,552 | +€32,024 | +579.2% |
| Taxes | 450/3 | €5,529 | €37,552 | +€32,024 | +579.2% |
| Other amounts payable | 47/48 | €63 | €0 | -€63 | -100.0% |
| Accrued charges and deferred income | 492/3 | €5,721 | €1,336 | -€4,385 | -76.6% |
| Non-recurring operating income | 76A | €0 | €125,862 | +€125,862 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,100 | €60,577 | -€6,522 | -9.7% |
| Other operating charges | 640/8 | €12,423 | €6,655 | -€5,768 | -46.4% |
| Gross operating margin | 9900 | €151,223 | €268,402 | +€117,179 | +77.5% |
| Operating profit (loss) | 9901 | €71,701 | €201,170 | +€129,469 | +180.6% |
| Financial income | 75/76B | €2,043 | €18 | -€2,025 | -99.1% |
| Recurring financial income | 75 | €2,043 | €18 | -€2,025 | -99.1% |
| Financial charges | 65/66B | €15,023 | €7,283 | -€7,740 | -51.5% |
| Recurring financial charges | 65 | €15,023 | €7,283 | -€7,740 | -51.5% |
| Profit (loss) for the period before taxes | 9903 | €58,721 | €193,904 | +€135,184 | +230.2% |
| Transfer from deferred taxes | 780 | €8,070 | €17,031 | +€8,961 | +111.0% |
| Income taxes | 67/77 | €22,347 | €64,814 | +€42,467 | +190.0% |
| Profit (loss) for the period | 9904 | €44,443 | €146,120 | +€101,677 | +228.8% |
| Transfer from tax-exempt reserves | 789 | €17,229 | €34,631 | +€17,402 | +101.0% |
| Profit (loss) for the period to be appropriated | 9905 | €61,672 | €180,752 | +€119,080 | +193.1% |
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.