FRABAK: 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.
FRABAK
Largest movements
- Receivables within one year +€65,449
up €65,449 (+39.5%), from €165,578 to €231,027
of which Other amounts receivable: +€60,649
- Cash -€16,277
down €16,277 (-16.9%), from €96,296 to €80,019
mainly Receivables within one year (-€65,449) and Investment in fixed assets (net) (-€6,257)
- Tangible fixed assets -€12,797
down €12,797 (-30.0%), from €42,681 to €29,884
of which Plant, machinery and equipment: -€10,750
- Financial fixed assets +€6,000
up €6,000 (+436%), from €1,376 to €7,376
- Reserves +€40,168
up €40,168 (+13.5%), from €297,181 to €337,349
of which Distributable reserves: +€40,168
- Tax, wage and social debts +€6,709
up €6,709 (+15.4%), from €43,676 to €50,385
of which Taxes: +€11,901
- Gross operating margin +€87,760
up €87,760 (+36.0%), from €243,801 to €331,561
- Staff costs +€85,917
up €85,917 (+48.8%), from €175,988 to €261,905
- Other operating charges -€10,595
down €10,595 (-67.0%), from €15,822 to €5,227
- Financial charges -€10,436
down €10,436 (-93.2%), from €11,203 to €767
- Financial income -€6,803
no longer reported in 2025 (was €6,803)
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 | €373,458 | €418,124 | +€44,666 | +12.0% |
| Fixed assets | 21/28 | €44,057 | €37,260 | -€6,797 | -15.4% |
| Tangible fixed assets | 22/27 | €42,681 | €29,884 | -€12,797 | -30.0% |
| Land and buildings | 22 | €14,847 | €12,800 | -€2,047 | -13.8% |
| Plant, machinery and equipment | 23 | €27,834 | €17,084 | -€10,750 | -38.6% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Financial fixed assets | 28 | €1,376 | €7,376 | +€6,000 | +436% |
| Current assets | 29/58 | €329,401 | €380,864 | +€51,463 | +15.6% |
| Stocks and contracts in progress | 3 | €63,168 | €65,459 | +€2,291 | +3.6% |
| Stocks | 30/36 | €63,168 | €65,459 | +€2,291 | +3.6% |
| Amounts receivable within one year | 40/41 | €165,578 | €231,027 | +€65,449 | +39.5% |
| Trade receivables | 40 | €9,484 | €14,284 | +€4,800 | +50.6% |
| Other amounts receivable | 41 | €156,094 | €216,743 | +€60,649 | +38.9% |
| Cash at bank and in hand | 54/58 | €96,296 | €80,019 | -€16,277 | -16.9% |
| Deferred charges and accrued income | 490/1 | €4,359 | €4,359 | = | 0.0% |
| Total equity and liabilities | 10/49 | €373,458 | €418,124 | +€44,666 | +12.0% |
| Equity | 10/15 | €324,485 | €362,442 | +€37,957 | +11.7% |
| Contributions | 10/11 | €18,593 | €18,593 | = | 0.0% |
| Reserves | 13 | €297,181 | €337,349 | +€40,168 | +13.5% |
| Non-distributable reserves | 130/1 | €34,325 | €34,325 | = | 0.0% |
| Reserves not available under the articles | 1311 | €34,325 | €34,325 | = | 0.0% |
| Distributable reserves | 133 | €262,856 | €303,024 | +€40,168 | +15.3% |
| Profit (loss) carried forward | 14 | €8,711 | €6,500 | -€2,211 | -25.4% |
| Amounts payable | 17/49 | €48,973 | €55,682 | +€6,709 | +13.7% |
| Amounts payable after more than one year | 17 | €1,491 | €1,491 | = | 0.0% |
| Financial debts | 170/4 | €1,491 | €1,491 | = | 0.0% |
| Amounts payable within one year | 42/48 | €46,482 | €53,191 | +€6,709 | +14.4% |
| Current portion of amounts payable after more than one year | 42 | €2,806 | €2,806 | = | 0.0% |
| Trade debts | 44 | €0 | €0 | = | |
| Suppliers | 440/4 | €0 | €0 | = | |
| Taxes, remuneration and social security | 45 | €43,676 | €50,385 | +€6,709 | +15.4% |
| Taxes | 450/3 | €5,591 | €17,492 | +€11,901 | +213% |
| Remuneration and social security | 454/9 | €38,085 | €32,893 | -€5,192 | -13.6% |
| Accrued charges and deferred income | 492/3 | €1,000 | €1,000 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €175,988 | €261,905 | +€85,917 | +48.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,653 | €13,054 | -€599 | -4.4% |
| Other operating charges | 640/8 | €15,822 | €5,227 | -€10,595 | -67.0% |
| Gross operating margin | 9900 | €243,801 | €331,561 | +€87,760 | +36.0% |
| Operating profit (loss) | 9901 | €38,338 | €51,375 | +€13,037 | +34.0% |
| Financial income | 75/76B | €6,803 | - | -€6,803 | |
| Recurring financial income | 75 | €6,803 | - | -€6,803 | |
| Financial charges | 65/66B | €11,203 | €767 | -€10,436 | -93.2% |
| Recurring financial charges | 65 | €11,203 | €767 | -€10,436 | -93.2% |
| Profit (loss) for the period before taxes | 9903 | €33,938 | €50,608 | +€16,670 | +49.1% |
| Income taxes | 67/77 | €8,484 | €12,652 | +€4,168 | +49.1% |
| Profit (loss) for the period | 9904 | €25,454 | €37,956 | +€12,502 | +49.1% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €25,454 | €37,956 | +€12,502 | +49.1% |
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 17 October 2026 via checked.be.