FRADAE Management: 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.
FRADAE Management
Largest movements
- Receivables within one year +€21,966
up €21,966 (+168.0%), from €13,074 to €35,040
of which Other amounts receivable: +€17,036
- Tangible fixed assets -€7,502
down €7,502 (-2.9%), from €260,019 to €252,517
of which Land and buildings: -€8,336
- Cash -€6,430
down €6,430 (-43.5%), from €14,770 to €8,340
mainly Receivables within one year (-€21,966) and Debts after one year (-€11,346)
- Reserves +€23,324
up €23,324 (+349.4%), from €6,676 to €30,000
- Debts after one year -€11,346
down €11,346 (-4.7%), from €240,433 to €229,087
- Other debts -€9,290
no longer reported in 2025 (was €9,290)
- Profit (loss) carried forward +€7,272
up €7,272, from -€5,902 to €1,370
- Tax, wage and social debts +€3,308
up €3,308 (+28.8%), from €11,475 to €14,783
- Gross operating margin +€38,101
up €38,101 (+189.7%), from €20,086 to €58,187
- Taxes +€7,727
up €7,727 (+1309.6%), from €590 to €8,317
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 | €288,610 | €297,971 | +€9,361 | +3.2% |
| Fixed assets | 21/28 | €260,019 | €252,517 | -€7,502 | -2.9% |
| Tangible fixed assets | 22/27 | €260,019 | €252,517 | -€7,502 | -2.9% |
| Land and buildings | 22 | €259,993 | €251,657 | -€8,336 | -3.2% |
| Furniture and vehicles | 24 | €26 | €860 | +€834 | +3208.2% |
| Current assets | 29/58 | €28,591 | €45,454 | +€16,863 | +59.0% |
| Stocks and contracts in progress | 3 | €72 | - | -€72 | |
| Stocks | 30/36 | €72 | - | -€72 | |
| Amounts receivable within one year | 40/41 | €13,074 | €35,040 | +€21,966 | +168.0% |
| Trade receivables | 40 | €13,005 | €17,935 | +€4,930 | +37.9% |
| Other amounts receivable | 41 | €69 | €17,105 | +€17,036 | +24689.6% |
| Current investments | 50/53 | - | €1,200 | +€1,200 | |
| Cash at bank and in hand | 54/58 | €14,770 | €8,340 | -€6,430 | -43.5% |
| Deferred charges and accrued income | 490/1 | €675 | €874 | +€199 | +29.5% |
| Total equity and liabilities | 10/49 | €288,610 | €297,971 | +€9,361 | +3.2% |
| Equity | 10/15 | €5,774 | €36,370 | +€30,596 | +529.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €6,676 | €30,000 | +€23,324 | +349.4% |
| Distributable reserves | 133 | €6,676 | €30,000 | +€23,324 | +349.4% |
| Profit (loss) carried forward | 14 | -€5,902 | €1,370 | +€7,272 | |
| Amounts payable | 17/49 | €282,836 | €261,601 | -€21,235 | -7.5% |
| Amounts payable after more than one year | 17 | €240,433 | €229,087 | -€11,346 | -4.7% |
| Financial debts | 170/4 | €240,433 | €229,087 | -€11,346 | -4.7% |
| Amounts payable within one year | 42/48 | €42,403 | €32,193 | -€10,210 | -24.1% |
| Current portion of amounts payable after more than one year | 42 | €12,680 | €11,346 | -€1,334 | -10.5% |
| Trade debts | 44 | €8,958 | €6,064 | -€2,894 | -32.3% |
| Suppliers | 440/4 | €8,958 | €6,064 | -€2,894 | -32.3% |
| Taxes, remuneration and social security | 45 | €11,475 | €14,783 | +€3,308 | +28.8% |
| Taxes | 450/3 | €11,475 | €14,783 | +€3,308 | +28.8% |
| Other amounts payable | 47/48 | €9,290 | - | -€9,290 | |
| Accrued charges and deferred income | 492/3 | - | €320 | +€320 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,492 | €8,559 | +€67 | +0.8% |
| Other operating charges | 640/8 | €2,515 | €2,128 | -€387 | -15.4% |
| Non-recurring operating charges | 66A | €5,236 | - | -€5,236 | |
| Gross operating margin | 9900 | €20,086 | €58,187 | +€38,101 | +189.7% |
| Operating profit (loss) | 9901 | €3,843 | €47,500 | +€43,657 | +1136.0% |
| Financial income | 75/76B | €11 | €412 | +€401 | +3643.3% |
| Recurring financial income | 75 | €11 | €412 | +€401 | +3643.3% |
| Financial charges | 65/66B | €9,166 | €8,999 | -€167 | -1.8% |
| Recurring financial charges | 65 | €9,166 | €8,999 | -€167 | -1.8% |
| Profit (loss) for the period before taxes | 9903 | -€5,312 | €38,913 | +€44,225 | |
| Income taxes | 67/77 | €590 | €8,317 | +€7,727 | +1309.6% |
| Profit (loss) for the period | 9904 | -€5,902 | €30,596 | +€36,498 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,902 | €30,596 | +€36,498 |
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 11 October 2026 via checked.be.