FRAB & 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.
FRAB & CO
Largest movements
- Receivables within one year +€306,885
up €306,885 (+181%), from €170,011 to €476,896
of which Trade receivables: +€229,593
- Tangible fixed assets -€148,385
down €148,385 (-22.5%), from €658,238 to €509,853
of which Leasing and similar rights: -€95,856
- Cash -€69,532
down €69,532 (-56.4%), from €123,390 to €53,858
mainly Receivables within one year (-€306,885) and Debts after one year (-€174,252)
- Debts after one year -€174,252
down €174,252 (-41.1%), from €423,544 to €249,292
- Trade debts +€144,713
up €144,713 (+159%), from €90,733 to €235,446
- Profit (loss) carried forward +€74,701
up €74,701 (+47.0%), from €159,046 to €233,747
- Current portion of long-term debt +€40,160
up €40,160 (+33.0%), from €121,520 to €161,680
- Tax, wage and social debts +€16,330
up €16,330 (+62.4%), from €26,190 to €42,520
of which Taxes: +€10,358
- Gross operating margin +€121,075
up €121,075 (+45.3%), from €267,365 to €388,440
- Staff costs +€54,863
new in 2025: €54,863
- Depreciation +€28,655
up €28,655 (+17.2%), from €166,966 to €195,621
- Taxes +€11,580
up €11,580 (+103%), from €11,268 to €22,848
- Other operating charges +€11,051
up €11,051 (+134%), from €8,277 to €19,328
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 | €952,609 | €1,045,284 | +€92,675 | +9.7% |
| Formation expenses | 20 | €560 | €348 | -€212 | -37.9% |
| Fixed assets | 21/28 | €658,449 | €510,064 | -€148,385 | -22.5% |
| Tangible fixed assets | 22/27 | €658,238 | €509,853 | -€148,385 | -22.5% |
| Plant, machinery and equipment | 23 | €92,215 | €78,053 | -€14,162 | -15.4% |
| Furniture and vehicles | 24 | €210,546 | €169,152 | -€41,395 | -19.7% |
| Leasing and similar rights | 25 | €355,477 | €259,621 | -€95,856 | -27.0% |
| Other tangible fixed assets | 26 | - | €3,028 | +€3,028 | |
| Financial fixed assets | 28 | €211 | €211 | = | 0.0% |
| Current assets | 29/58 | €293,600 | €534,873 | +€241,272 | +82.2% |
| Amounts receivable within one year | 40/41 | €170,011 | €476,896 | +€306,885 | +181% |
| Trade receivables | 40 | €147,201 | €376,794 | +€229,593 | +156% |
| Other amounts receivable | 41 | €22,810 | €100,102 | +€77,292 | +339% |
| Cash at bank and in hand | 54/58 | €123,390 | €53,858 | -€69,532 | -56.4% |
| Deferred charges and accrued income | 490/1 | €199 | €4,118 | +€3,919 | +1,968% |
| Total equity and liabilities | 10/49 | €952,609 | €1,045,284 | +€92,675 | +9.7% |
| Equity | 10/15 | €199,046 | €273,747 | +€74,701 | +37.5% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €159,046 | €233,747 | +€74,701 | +47.0% |
| Amounts payable | 17/49 | €753,563 | €771,537 | +€17,974 | +2.4% |
| Amounts payable after more than one year | 17 | €423,544 | €249,292 | -€174,252 | -41.1% |
| Financial debts | 170/4 | €423,544 | €249,292 | -€174,252 | -41.1% |
| Amounts payable within one year | 42/48 | €330,019 | €521,609 | +€191,590 | +58.1% |
| Current portion of amounts payable after more than one year | 42 | €121,520 | €161,680 | +€40,160 | +33.0% |
| Trade debts | 44 | €90,733 | €235,446 | +€144,713 | +159% |
| Suppliers | 440/4 | €90,733 | €235,446 | +€144,713 | +159% |
| Taxes, remuneration and social security | 45 | €26,190 | €42,520 | +€16,330 | +62.4% |
| Taxes | 450/3 | €26,190 | €36,548 | +€10,358 | +39.5% |
| Remuneration and social security | 454/9 | - | €5,972 | +€5,972 | |
| Other amounts payable | 47/48 | €91,576 | €81,963 | -€9,613 | -10.5% |
| Accrued charges and deferred income | 492/3 | - | €636 | +€636 | |
| Non-recurring operating income | 76A | - | €4,597 | +€4,597 | |
| Remuneration, social security and pensions | 62 | - | €54,863 | +€54,863 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €166,966 | €195,621 | +€28,655 | +17.2% |
| Other operating charges | 640/8 | €8,277 | €19,328 | +€11,051 | +134% |
| Gross operating margin | 9900 | €267,365 | €388,440 | +€121,075 | +45.3% |
| Operating profit (loss) | 9901 | €92,121 | €118,627 | +€26,506 | +28.8% |
| Financial income | 75/76B | - | €62 | +€62 | |
| Recurring financial income | 75 | - | €62 | +€62 | |
| Financial charges | 65/66B | €22,474 | €21,140 | -€1,333 | -5.9% |
| Recurring financial charges | 65 | €22,474 | €21,140 | -€1,333 | -5.9% |
| Profit (loss) for the period before taxes | 9903 | €69,648 | €97,549 | +€27,901 | +40.1% |
| Income taxes | 67/77 | €11,268 | €22,848 | +€11,580 | +103% |
| Profit (loss) for the period | 9904 | €58,380 | €74,701 | +€16,321 | +28.0% |
| Profit (loss) for the period to be appropriated | 9905 | €58,380 | €74,701 | +€16,321 | +28.0% |
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 23 October 2026 via checked.be.