FRAEYE PROJECTS: 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.
FRAEYE PROJECTS
Largest movements
- Stocks and contracts +€539,557
up €539,557 (+974.2%), from €55,384 to €594,940
- Tangible fixed assets -€480,912
down €480,912 (-93.9%), from €512,113 to €31,200
of which Land and buildings: -€449,549
- Current investments -€150,000
down €150,000 (-37.5%), from €400,000 to €250,000
- Receivables within one year +€38,273
up €38,273 (+90.2%), from €42,449 to €80,722
of which Trade receivables: +€56,323
- Cash +€28,471
up €28,471 (+63.3%), from €44,969 to €73,440
mainly Investment in fixed assets (net) (+€448,332) and Current investments (+€150,000)
- Other debts +€79,372
up €79,372 (+26.4%), from €300,841 to €380,214
- Tax, wage and social debts -€58,094
down €58,094 (-67.8%), from €85,627 to €27,533
of which Taxes: -€61,128
- Debts after one year -€22,724
no longer reported in 2025 (was €22,724)
- Gross operating margin -€242,954
down €242,954 (-67.0%), from €362,360 to €119,406
- Taxes -€69,926
down €69,926 (-97.2%), from €71,957 to €2,030
- Depreciation -€19,830
down €19,830 (-37.8%), from €52,410 to €32,580
- Staff costs +€8,122
up €8,122 (+91.1%), from €8,913 to €17,036
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 | €1,059,200 | €1,034,961 | -€24,239 | -2.3% |
| Fixed assets | 21/28 | €512,113 | €31,200 | -€480,912 | -93.9% |
| Tangible fixed assets | 22/27 | €512,113 | €31,200 | -€480,912 | -93.9% |
| Land and buildings | 22 | €457,211 | €7,661 | -€449,549 | -98.3% |
| Plant, machinery and equipment | 23 | €4,495 | €3,567 | -€928 | -20.6% |
| Furniture and vehicles | 24 | €6,338 | €3,736 | -€2,602 | -41.1% |
| Leasing and similar rights | 25 | €44,069 | €16,236 | -€27,833 | -63.2% |
| Current assets | 29/58 | €547,087 | €1,003,761 | +€456,673 | +83.5% |
| Stocks and contracts in progress | 3 | €55,384 | €594,940 | +€539,557 | +974.2% |
| Stocks | 30/36 | €55,384 | €594,940 | +€539,557 | +974.2% |
| Amounts receivable within one year | 40/41 | €42,449 | €80,722 | +€38,273 | +90.2% |
| Trade receivables | 40 | €21,417 | €77,740 | +€56,323 | +263.0% |
| Other amounts receivable | 41 | €21,032 | €2,982 | -€18,050 | -85.8% |
| Current investments | 50/53 | €400,000 | €250,000 | -€150,000 | -37.5% |
| Cash at bank and in hand | 54/58 | €44,969 | €73,440 | +€28,471 | +63.3% |
| Deferred charges and accrued income | 490/1 | €4,286 | €4,658 | +€372 | +8.7% |
| Total equity and liabilities | 10/49 | €1,059,200 | €1,034,961 | -€24,239 | -2.3% |
| Equity | 10/15 | €587,437 | €586,785 | -€652 | -0.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €525,437 | €524,785 | -€652 | -0.1% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €519,237 | €518,585 | -€652 | -0.1% |
| Amounts payable | 17/49 | €471,763 | €448,176 | -€23,587 | -5.0% |
| Amounts payable after more than one year | 17 | €22,724 | - | -€22,724 | |
| Financial debts | 170/4 | €22,724 | - | -€22,724 | |
| Amounts payable within one year | 42/48 | €441,539 | €448,176 | +€6,636 | +1.5% |
| Current portion of amounts payable after more than one year | 42 | €26,814 | €22,724 | -€4,091 | -15.3% |
| Trade debts | 44 | €28,257 | €17,706 | -€10,552 | -37.3% |
| Suppliers | 440/4 | €28,257 | €17,706 | -€10,552 | -37.3% |
| Taxes, remuneration and social security | 45 | €85,627 | €27,533 | -€58,094 | -67.8% |
| Taxes | 450/3 | €80,283 | €19,155 | -€61,128 | -76.1% |
| Remuneration and social security | 454/9 | €5,344 | €8,378 | +€3,034 | +56.8% |
| Other amounts payable | 47/48 | €300,841 | €380,214 | +€79,372 | +26.4% |
| Accrued charges and deferred income | 492/3 | €7,500 | - | -€7,500 | |
| Remuneration, social security and pensions | 62 | €8,913 | €17,036 | +€8,122 | +91.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,410 | €32,580 | -€19,830 | -37.8% |
| Other operating charges | 640/8 | €2,336 | €1,413 | -€924 | -39.5% |
| Non-recurring operating charges | 66A | - | €48,142 | +€48,142 | |
| Gross operating margin | 9900 | €362,360 | €119,406 | -€242,954 | -67.0% |
| Operating profit (loss) | 9901 | €298,700 | €20,235 | -€278,464 | -93.2% |
| Financial income | 75/76B | €7,698 | €4,399 | -€3,299 | -42.9% |
| Recurring financial income | 75 | €7,698 | €4,399 | -€3,299 | -42.9% |
| Financial charges | 65/66B | €21,812 | €23,256 | +€1,444 | +6.6% |
| Recurring financial charges | 65 | €21,812 | €23,256 | +€1,444 | +6.6% |
| Profit (loss) for the period before taxes | 9903 | €284,585 | €1,379 | -€283,207 | -99.5% |
| Income taxes | 67/77 | €71,957 | €2,030 | -€69,926 | -97.2% |
| Profit (loss) for the period | 9904 | €212,629 | -€652 | -€213,281 | |
| Profit (loss) for the period to be appropriated | 9905 | €212,629 | -€652 | -€213,281 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.