FR DEVELOPMENT: 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.
FR DEVELOPMENT
Largest movements
- Tangible fixed assets -€110,494
down €110,494 (-3.8%), from €2.9m to €2.8m
of which Land and buildings: -€99,715
- Profit (loss) carried forward -€85,427
down €85,427 (-14.7%), from -€582,663 to -€668,090
- Debts after one year -€78,722
down €78,722 (-8.5%), from €925,157 to €846,435
- Other debts +€51,143
up €51,143 (+2.1%), from €2.5m to €2.5m
- Gross operating margin -€9,819
down €9,819 (-11.5%), from €85,123 to €75,304
- Financial charges +€8,704
up €8,704 (+99.0%), from €8,790 to €17,494
- Other operating charges +€3,100
up €3,100 (+12.7%), from €24,360 to €27,460
- Write-downs +€3,023
new in 2025: €3,023
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 | €2,925,883 | €2,794,347 | -€131,536 | -4.5% |
| Fixed assets | 21/28 | €2,894,940 | €2,784,446 | -€110,494 | -3.8% |
| Tangible fixed assets | 22/27 | €2,894,940 | €2,784,446 | -€110,494 | -3.8% |
| Land and buildings | 22 | €2,823,642 | €2,723,928 | -€99,715 | -3.5% |
| Plant, machinery and equipment | 23 | €71,298 | €60,519 | -€10,779 | -15.1% |
| Current assets | 29/58 | €30,942 | €9,900 | -€21,042 | -68.0% |
| Amounts receivable within one year | 40/41 | €4,330 | - | -€4,330 | |
| Trade receivables | 40 | €4,330 | - | -€4,330 | |
| Cash at bank and in hand | 54/58 | €18,693 | €6,093 | -€12,600 | -67.4% |
| Deferred charges and accrued income | 490/1 | €7,919 | €3,807 | -€4,112 | -51.9% |
| Total equity and liabilities | 10/49 | €2,925,883 | €2,794,347 | -€131,536 | -4.5% |
| Equity | 10/15 | -€564,063 | -€649,490 | -€85,427 | -15.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€582,663 | -€668,090 | -€85,427 | -14.7% |
| Amounts payable | 17/49 | €3,489,946 | €3,443,837 | -€46,109 | -1.3% |
| Amounts payable after more than one year | 17 | €925,157 | €846,435 | -€78,722 | -8.5% |
| Financial debts | 170/4 | €925,157 | €846,435 | -€78,722 | -8.5% |
| Amounts payable within one year | 42/48 | €2,548,034 | €2,597,402 | +€49,368 | +1.9% |
| Current portion of amounts payable after more than one year | 42 | €85,589 | €83,113 | -€2,475 | -2.9% |
| Trade debts | 44 | €3,731 | €4,432 | +€701 | +18.8% |
| Suppliers | 440/4 | €3,731 | €4,432 | +€701 | +18.8% |
| Other amounts payable | 47/48 | €2,458,714 | €2,509,857 | +€51,143 | +2.1% |
| Accrued charges and deferred income | 492/3 | €16,755 | - | -€16,755 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €112,453 | €112,755 | +€302 | +0.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,023 | +€3,023 | |
| Other operating charges | 640/8 | €24,360 | €27,460 | +€3,100 | +12.7% |
| Gross operating margin | 9900 | €85,123 | €75,304 | -€9,819 | -11.5% |
| Operating profit (loss) | 9901 | -€51,690 | -€67,933 | -€16,244 | -31.4% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €8,790 | €17,494 | +€8,704 | +99.0% |
| Recurring financial charges | 65 | €8,790 | €17,494 | +€8,704 | +99.0% |
| Profit (loss) for the period before taxes | 9903 | -€60,479 | -€85,427 | -€24,948 | -41.2% |
| Profit (loss) for the period | 9904 | -€60,479 | -€85,427 | -€24,948 | -41.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€60,479 | -€85,427 | -€24,948 | -41.2% |
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.