Fra&co: 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.
Fra&co
Largest movements
- Tangible fixed assets +€448,492
up €448,492 (+2783.8%), from €16,111 to €464,603
of which Land and buildings: +€448,816
- Cash -€21,036
down €21,036 (-33.5%), from €62,766 to €41,730
mainly Investment in fixed assets (net) (-€519,241) and Trade debts (-€3,334)
- Receivables within one year -€19,941
down €19,941 (-46.2%), from €43,204 to €23,263
of which Other amounts receivable: -€29,281
- Debts after one year +€328,910
up €328,910 (+1315.6%), from €25,000 to €353,910
- Reserves +€36,144
up €36,144 (+111.2%), from €32,513 to €68,656
of which Distributable reserves: +€36,144
- Current portion of long-term debt +€21,090
new in 2025: €21,090
- Tax, wage and social debts +€14,470
up €14,470 (+103.6%), from €13,965 to €28,435
of which Taxes: +€14,761
- Other debts +€10,236
up €10,236 (+20.3%), from €50,508 to €60,744
- Depreciation +€64,987
up €64,987 (+1127.8%), from €5,762 to €70,749
- Purchases and services +€52,113
up €52,113 (+13.5%), from €387,388 to €439,500
- Gross operating margin +€31,476
up €31,476 (+32.5%), from €96,758 to €128,234
- Staff costs -€27,423
down €27,423 (-92.9%), from €29,532 to €2,109
- Taxes +€2,165
up €2,165 (+17.2%), from €12,620 to €14,785
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 | €131,520 | €539,036 | +€407,515 | +309.9% |
| Fixed assets | 21/28 | €16,111 | €464,603 | +€448,492 | +2783.8% |
| Tangible fixed assets | 22/27 | €16,111 | €464,603 | +€448,492 | +2783.8% |
| Land and buildings | 22 | - | €448,816 | +€448,816 | |
| Plant, machinery and equipment | 23 | €11,111 | €7,126 | -€3,986 | -35.9% |
| Furniture and vehicles | 24 | €4,479 | €8,356 | +€3,877 | +86.6% |
| Other tangible fixed assets | 26 | €521 | €305 | -€216 | -41.4% |
| Current assets | 29/58 | €115,409 | €74,433 | -€40,977 | -35.5% |
| Stocks and contracts in progress | 3 | €9,440 | €9,440 | = | 0.0% |
| Stocks | 30/36 | €9,440 | €9,440 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €43,204 | €23,263 | -€19,941 | -46.2% |
| Trade receivables | 40 | €968 | €10,308 | +€9,340 | +965.2% |
| Other amounts receivable | 41 | €42,236 | €12,955 | -€29,281 | -69.3% |
| Cash at bank and in hand | 54/58 | €62,766 | €41,730 | -€21,036 | -33.5% |
| Total equity and liabilities | 10/49 | €131,520 | €539,036 | +€407,515 | +309.9% |
| Equity | 10/15 | €38,713 | €74,856 | +€36,144 | +93.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €32,513 | €68,656 | +€36,144 | +111.2% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €30,654 | €66,797 | +€36,144 | +117.9% |
| Amounts payable | 17/49 | €92,808 | €464,179 | +€371,372 | +400.2% |
| Amounts payable after more than one year | 17 | €25,000 | €353,910 | +€328,910 | +1315.6% |
| Financial debts | 170/4 | €25,000 | €353,910 | +€328,910 | +1315.6% |
| Amounts payable within one year | 42/48 | €67,808 | €110,269 | +€42,462 | +62.6% |
| Current portion of amounts payable after more than one year | 42 | - | €21,090 | +€21,090 | |
| Trade debts | 44 | €3,334 | - | -€3,334 | |
| Suppliers | 440/4 | €3,334 | - | -€3,334 | |
| Taxes, remuneration and social security | 45 | €13,965 | €28,435 | +€14,470 | +103.6% |
| Taxes | 450/3 | €13,156 | €27,918 | +€14,761 | +112.2% |
| Remuneration and social security | 454/9 | €809 | €517 | -€292 | -36.0% |
| Other amounts payable | 47/48 | €50,508 | €60,744 | +€10,236 | +20.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €387,388 | €439,500 | +€52,113 | +13.5% |
| Remuneration, social security and pensions | 62 | €29,532 | €2,109 | -€27,423 | -92.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,762 | €70,749 | +€64,987 | +1127.8% |
| Other operating charges | 640/8 | €2,430 | €2,650 | +€219 | +9.0% |
| Gross operating margin | 9900 | €96,758 | €128,234 | +€31,476 | +32.5% |
| Operating profit (loss) | 9901 | €59,033 | €52,726 | -€6,307 | -10.7% |
| Financial income | 75/76B | €795 | €929 | +€134 | +16.9% |
| Recurring financial income | 75 | €795 | €929 | +€134 | +16.9% |
| Financial charges | 65/66B | €2,571 | €2,726 | +€155 | +6.0% |
| Recurring financial charges | 65 | €2,571 | €2,726 | +€155 | +6.0% |
| Profit (loss) for the period before taxes | 9903 | €57,257 | €50,929 | -€6,328 | -11.1% |
| Income taxes | 67/77 | €12,620 | €14,785 | +€2,165 | +17.2% |
| Profit (loss) for the period | 9904 | €44,637 | €36,144 | -€8,493 | -19.0% |
| Profit (loss) for the period to be appropriated | 9905 | €44,637 | €36,144 | -€8,493 | -19.0% |
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 10 October 2026 via checked.be.