FRABO: what changed
Two fiscal 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.
FRABO
Largest movements
- Tangible fixed assets -€33,182
down €33,182 (-24.9%), from €133,487 to €100,305
of which Furniture and vehicles: -€22,123
- Stocks and contracts -€2,000
no longer reported in 2025 (was €2,000)
- Debts after one year -€18,192
down €18,192 (-18.2%), from €99,923 to €81,732
- Tax, wage and social debts -€12,878
down €12,878 (-94.2%), from €13,674 to €796
- Current portion of long-term debt -€11,525
down €11,525 (-76.4%), from €15,084 to €3,559
- Trade debts +€6,263
up €6,263 (+101.6%), from €6,161 to €12,424
- Reserves +€2,509
up €2,509 (+6.9%), from €36,100 to €38,609
- Gross operating margin -€39,629
down €39,629 (-69.5%), from €57,054 to €17,425
- Taxes -€14,745
down €14,745 (-95.2%), from €15,490 to €745
- Depreciation -€13,336
down €13,336 (-59.5%), from €22,420 to €9,084
- Financial income +€1,362
up €1,362 (+266.4%), from €511 to €1,873
- Financial charges -€1,130
down €1,130 (-33.7%), from €3,350 to €2,220
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 | €177,248 | €143,425 | -€33,823 | -19.1% |
| Fixed assets | 21/28 | €133,487 | €100,305 | -€33,182 | -24.9% |
| Tangible fixed assets | 22/27 | €133,487 | €100,305 | -€33,182 | -24.9% |
| Land and buildings | 22 | €103,308 | €96,782 | -€6,526 | -6.3% |
| Plant, machinery and equipment | 23 | €8,056 | €3,523 | -€4,533 | -56.3% |
| Furniture and vehicles | 24 | €22,123 | - | -€22,123 | |
| Current assets | 29/58 | €43,761 | €43,120 | -€642 | -1.5% |
| Stocks and contracts in progress | 3 | €2,000 | - | -€2,000 | |
| Stocks | 30/36 | €2,000 | - | -€2,000 | |
| Amounts receivable within one year | 40/41 | €32,595 | €33,899 | +€1,305 | +4.0% |
| Other amounts receivable | 41 | €32,595 | €33,899 | +€1,305 | +4.0% |
| Cash at bank and in hand | 54/58 | €8,158 | €8,221 | +€62 | +0.8% |
| Deferred charges and accrued income | 490/1 | €1,008 | €1,000 | -€8 | -0.8% |
| Total equity and liabilities | 10/49 | €177,248 | €143,425 | -€33,823 | -19.1% |
| Equity | 10/15 | €42,406 | €44,915 | +€2,509 | +5.9% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €36,100 | €38,609 | +€2,509 | +6.9% |
| Distributable reserves | 133 | €36,100 | €38,609 | +€2,509 | +6.9% |
| Profit (loss) carried forward | 14 | €101 | €101 | = | 0.0% |
| Amounts payable | 17/49 | €134,842 | €98,510 | -€36,332 | -26.9% |
| Amounts payable after more than one year | 17 | €99,923 | €81,732 | -€18,192 | -18.2% |
| Financial debts | 170/4 | €99,923 | €81,732 | -€18,192 | -18.2% |
| Amounts payable within one year | 42/48 | €34,919 | €16,778 | -€18,141 | -52.0% |
| Current portion of amounts payable after more than one year | 42 | €15,084 | €3,559 | -€11,525 | -76.4% |
| Trade debts | 44 | €6,161 | €12,424 | +€6,263 | +101.6% |
| Suppliers | 440/4 | €6,161 | €12,424 | +€6,263 | +101.6% |
| Taxes, remuneration and social security | 45 | €13,674 | €796 | -€12,878 | -94.2% |
| Taxes | 450/3 | €13,674 | €796 | -€12,878 | -94.2% |
| Non-recurring operating income | 76A | €1,240 | €15,912 | +€14,673 | +1183.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,420 | €9,084 | -€13,336 | -59.5% |
| Other operating charges | 640/8 | €1,031 | €996 | -€35 | -3.4% |
| Non-recurring operating charges | 66A | €2,508 | €3,743 | +€1,235 | +49.2% |
| Gross operating margin | 9900 | €57,054 | €17,425 | -€39,629 | -69.5% |
| Operating profit (loss) | 9901 | €31,095 | €3,601 | -€27,493 | -88.4% |
| Financial income | 75/76B | €511 | €1,873 | +€1,362 | +266.4% |
| Recurring financial income | 75 | €511 | €1,873 | +€1,362 | +266.4% |
| Financial charges | 65/66B | €3,350 | €2,220 | -€1,130 | -33.7% |
| Recurring financial charges | 65 | €3,350 | €2,220 | -€1,130 | -33.7% |
| Profit (loss) for the period before taxes | 9903 | €28,256 | €3,254 | -€25,002 | -88.5% |
| Income taxes | 67/77 | €15,490 | €745 | -€14,745 | -95.2% |
| Profit (loss) for the period | 9904 | €12,766 | €2,509 | -€10,257 | -80.3% |
| Transfer from tax-exempt reserves | 789 | €10,228 | - | -€10,228 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,994 | €2,509 | -€20,485 | -89.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.