FRABELL: 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.
FRABELL
Largest movements
- Tangible fixed assets -€35,847
down €35,847 (-6.8%), from €524,555 to €488,708
of which Land and buildings: -€34,218
- Cash +€33,345
up €33,345 (+306.0%), from €10,897 to €44,242
mainly Net result for the year (+€95,592) and Depreciation (+€35,847)
- Current investments +€15,000
up €15,000 (+23.1%), from €65,000 to €80,000
- Reserves +€72,858
up €72,858 (+29.5%), from €246,704 to €319,562
- Other debts -€59,538
down €59,538 (-45.6%), from €130,486 to €70,948
- Debts after one year -€17,925
down €17,925 (-9.4%), from €189,875 to €171,950
- Tax, wage and social debts +€13,143
up €13,143 (+114.6%), from €11,468 to €24,611
of which Taxes: +€16,310
- Gross operating margin +€36,008
up €36,008 (+23.1%), from €155,569 to €191,577
- Taxes +€16,950
up €16,950 (+56.8%), from €29,825 to €46,775
- Depreciation -€2,350
down €2,350 (-6.2%), from €38,197 to €35,847
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 | €622,339 | €630,759 | +€8,420 | +1.4% |
| Fixed assets | 21/28 | €525,055 | €489,208 | -€35,847 | -6.8% |
| Tangible fixed assets | 22/27 | €524,555 | €488,708 | -€35,847 | -6.8% |
| Land and buildings | 22 | €520,395 | €486,177 | -€34,218 | -6.6% |
| Plant, machinery and equipment | 23 | €1,599 | €639 | -€960 | -60.0% |
| Furniture and vehicles | 24 | €1,752 | €1,199 | -€553 | -31.6% |
| Other tangible fixed assets | 26 | €808 | €693 | -€115 | -14.3% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €97,284 | €141,551 | +€44,267 | +45.5% |
| Amounts receivable within one year | 40/41 | €20,046 | €15,839 | -€4,207 | -21.0% |
| Trade receivables | 40 | €19,871 | €15,663 | -€4,207 | -21.2% |
| Other amounts receivable | 41 | €175 | €175 | = | 0.0% |
| Current investments | 50/53 | €65,000 | €80,000 | +€15,000 | +23.1% |
| Cash at bank and in hand | 54/58 | €10,897 | €44,242 | +€33,345 | +306.0% |
| Deferred charges and accrued income | 490/1 | €1,341 | €1,470 | +€129 | +9.6% |
| Total equity and liabilities | 10/49 | €622,339 | €630,759 | +€8,420 | +1.4% |
| Equity | 10/15 | €266,704 | €339,562 | +€72,858 | +27.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €246,704 | €319,562 | +€72,858 | +29.5% |
| Distributable reserves | 133 | €246,704 | €319,562 | +€72,858 | +29.5% |
| Amounts payable | 17/49 | €355,635 | €291,197 | -€64,438 | -18.1% |
| Amounts payable after more than one year | 17 | €189,875 | €171,950 | -€17,925 | -9.4% |
| Financial debts | 170/4 | €189,875 | €171,950 | -€17,925 | -9.4% |
| Amounts payable within one year | 42/48 | €165,373 | €118,847 | -€46,526 | -28.1% |
| Current portion of amounts payable after more than one year | 42 | €19,311 | €19,493 | +€183 | +0.9% |
| Trade debts | 44 | €4,108 | €3,794 | -€314 | -7.6% |
| Suppliers | 440/4 | €4,108 | €3,794 | -€314 | -7.6% |
| Taxes, remuneration and social security | 45 | €11,468 | €24,611 | +€13,143 | +114.6% |
| Taxes | 450/3 | €8,301 | €24,611 | +€16,310 | +196.5% |
| Remuneration and social security | 454/9 | €3,167 | - | -€3,167 | |
| Other amounts payable | 47/48 | €130,486 | €70,948 | -€59,538 | -45.6% |
| Accrued charges and deferred income | 492/3 | €387 | €400 | +€12 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,197 | €35,847 | -€2,350 | -6.2% |
| Other operating charges | 640/8 | €10,338 | €9,473 | -€865 | -8.4% |
| Gross operating margin | 9900 | €155,569 | €191,577 | +€36,008 | +23.1% |
| Operating profit (loss) | 9901 | €107,034 | €146,257 | +€39,223 | +36.6% |
| Financial income | 75/76B | €3 | - | -€3 | |
| Recurring financial income | 75 | €3 | - | -€3 | |
| Financial charges | 65/66B | €3,735 | €3,890 | +€155 | +4.2% |
| Recurring financial charges | 65 | €3,735 | €3,890 | +€155 | +4.2% |
| Profit (loss) for the period before taxes | 9903 | €103,302 | €142,367 | +€39,065 | +37.8% |
| Income taxes | 67/77 | €29,825 | €46,775 | +€16,950 | +56.8% |
| Profit (loss) for the period | 9904 | €73,478 | €95,592 | +€22,115 | +30.1% |
| Profit (loss) for the period to be appropriated | 9905 | €73,478 | €95,592 | +€22,115 | +30.1% |
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 12 October 2026 via checked.be.