FRADI Express: 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.
FRADI Express
Largest movements
- Cash -€15,655
down €15,655 (-21.0%), from €74,622 to €58,967
mainly Net result for the year (-€85,220) and Investment in fixed assets (net) (-€26,793)
- Stocks and contracts +€14,055
up €14,055 (+12.3%), from €114,523 to €128,577
- Tangible fixed assets +€6,893
up €6,893 (+27.3%), from €25,218 to €32,111
of which Other tangible fixed assets: +€13,379
- Trade debts +€94,499
up €94,499 (+36.7%), from €257,385 to €351,884
- Profit (loss) carried forward -€85,220
down €85,220 (-85.7%), from -€99,465 to -€184,685
- Current portion of long-term debt -€15,430
down €15,430 (-100%), from €15,430 to €0
- Tax, wage and social debts +€10,997
up €10,997 (+42.3%), from €25,977 to €36,974
of which Taxes: +€7,856
- Gross operating margin -€45,931
down €45,931 (-44.3%), from €103,741 to €57,810
- Staff costs +€33,586
up €33,586 (+39.5%), from €85,058 to €118,644
- Financial charges +€5,832
up €5,832 (+52.6%), from €11,078 to €16,911
- Depreciation -€4,171
down €4,171 (-17.3%), from €24,071 to €19,900
- Financial income -€2,690
down €2,690 (-14.0%), from €19,191 to €16,501
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €235,557 | €240,428 | +€4,871 | +2.1% |
| Fixed assets | 21/28 | €26,068 | €32,961 | +€6,893 | +26.4% |
| Tangible fixed assets | 22/27 | €25,218 | €32,111 | +€6,893 | +27.3% |
| Plant, machinery and equipment | 23 | €23,751 | €16,981 | -€6,770 | -28.5% |
| Furniture and vehicles | 24 | €1,467 | €1,751 | +€284 | +19.4% |
| Other tangible fixed assets | 26 | - | €13,379 | +€13,379 | |
| Financial fixed assets | 28 | €850 | €850 | = | 0.0% |
| Current assets | 29/58 | €209,489 | €207,467 | -€2,022 | -1.0% |
| Stocks and contracts in progress | 3 | €114,523 | €128,577 | +€14,055 | +12.3% |
| Stocks | 30/36 | €114,523 | €128,577 | +€14,055 | +12.3% |
| Amounts receivable within one year | 40/41 | €15,739 | €16,281 | +€542 | +3.4% |
| Trade receivables | 40 | €455 | €0 | -€455 | -100% |
| Other amounts receivable | 41 | €15,284 | €16,281 | +€997 | +6.5% |
| Cash at bank and in hand | 54/58 | €74,622 | €58,967 | -€15,655 | -21.0% |
| Deferred charges and accrued income | 490/1 | €4,606 | €3,642 | -€964 | -20.9% |
| Total equity and liabilities | 10/49 | €235,557 | €240,428 | +€4,871 | +2.1% |
| Equity | 10/15 | -€64,465 | -€149,685 | -€85,220 | -132% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€99,465 | -€184,685 | -€85,220 | -85.7% |
| Amounts payable | 17/49 | €300,023 | €390,114 | +€90,091 | +30.0% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €300,023 | €390,114 | +€90,091 | +30.0% |
| Current portion of amounts payable after more than one year | 42 | €15,430 | €0 | -€15,430 | -100% |
| Trade debts | 44 | €257,385 | €351,884 | +€94,499 | +36.7% |
| Suppliers | 440/4 | €257,385 | €351,884 | +€94,499 | +36.7% |
| Taxes, remuneration and social security | 45 | €25,977 | €36,974 | +€10,997 | +42.3% |
| Taxes | 450/3 | €4,566 | €12,422 | +€7,856 | +172% |
| Remuneration and social security | 454/9 | €21,411 | €24,552 | +€3,141 | +14.7% |
| Other amounts payable | 47/48 | €1,231 | €1,256 | +€25 | +2.0% |
| Non-recurring operating income | 76A | - | €6,995 | +€6,995 | |
| Remuneration, social security and pensions | 62 | €85,058 | €118,644 | +€33,586 | +39.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,071 | €19,900 | -€4,171 | -17.3% |
| Other operating charges | 640/8 | €2,111 | €3,924 | +€1,813 | +85.9% |
| Non-recurring operating charges | 66A | €189 | €0 | -€189 | -100% |
| Gross operating margin | 9900 | €103,741 | €57,810 | -€45,931 | -44.3% |
| Operating profit (loss) | 9901 | -€7,688 | -€84,658 | -€76,969 | -1,001% |
| Financial income | 75/76B | €19,191 | €16,501 | -€2,690 | -14.0% |
| Recurring financial income | 75 | €19,191 | €16,501 | -€2,690 | -14.0% |
| Financial charges | 65/66B | €11,078 | €16,911 | +€5,832 | +52.6% |
| Recurring financial charges | 65 | €11,078 | €16,911 | +€5,832 | +52.6% |
| Profit (loss) for the period before taxes | 9903 | €424 | -€85,068 | -€85,491 | |
| Income taxes | 67/77 | €129 | €152 | +€24 | +18.6% |
| Profit (loss) for the period | 9904 | €295 | -€85,220 | -€85,515 | |
| Profit (loss) for the period to be appropriated | 9905 | €295 | -€85,220 | -€85,515 |
Source: filed annual accounts (NBB), financial years ended 30 September 2023 and 30 September 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.