FRAMEWALL: 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.
FRAMEWALL
Largest movements
- Receivables within one year +€203,050
up €203,050 (+36.2%), from €560,913 to €763,963
of which Other amounts receivable: +€357,324
- Cash -€58,013
down €58,013 (-18.7%), from €310,033 to €252,020
mainly Contributions, distributions and other (-€350,000) and Receivables within one year (-€203,050)
- Tangible fixed assets -€19,184
down €19,184 (-68.6%), from €27,968 to €8,784
of which Plant, machinery and equipment: -€22,474
- Other debts +€165,000
up €165,000 (+89.2%), from €185,000 to €350,000
- Profit (loss) carried forward -€92,674
down €92,674 (-48.8%), from €189,762 to €97,088
- Trade debts +€88,976
up €88,976 (+16177.4%), from €550 to €89,526
- Accrued charges and deferred income -€20,868
down €20,868 (-7.5%), from €276,888 to €256,020
- Gross operating margin +€53,875
up €53,875 (+16.8%), from €321,181 to €375,056
- Other operating charges +€8,264
up €8,264 (+22.5%), from €36,749 to €45,012
- Financial income +€6,048
up €6,048 (+60.2%), from €10,044 to €16,092
- Taxes +€5,903
up €5,903 (+11.8%), from €50,112 to €56,015
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 | €903,573 | €1,034,562 | +€130,988 | +14.5% |
| Fixed assets | 21/28 | €27,968 | €14,357 | -€13,611 | -48.7% |
| Intangible fixed assets | 21 | - | €5,573 | +€5,573 | |
| Tangible fixed assets | 22/27 | €27,968 | €8,784 | -€19,184 | -68.6% |
| Plant, machinery and equipment | 23 | €27,895 | €5,421 | -€22,474 | -80.6% |
| Furniture and vehicles | 24 | €72 | €3,362 | +€3,290 | +4553.1% |
| Current assets | 29/58 | €875,606 | €1,020,205 | +€144,600 | +16.5% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €560,913 | €763,963 | +€203,050 | +36.2% |
| Trade receivables | 40 | €402,741 | €248,467 | -€154,274 | -38.3% |
| Other amounts receivable | 41 | €158,172 | €515,497 | +€357,324 | +225.9% |
| Cash at bank and in hand | 54/58 | €310,033 | €252,020 | -€58,013 | -18.7% |
| Deferred charges and accrued income | 490/1 | €4,660 | €4,222 | -€438 | -9.4% |
| Total equity and liabilities | 10/49 | €903,573 | €1,034,562 | +€130,988 | +14.5% |
| Equity | 10/15 | €246,274 | €153,599 | -€92,674 | -37.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €37,911 | €37,911 | = | 0.0% |
| Distributable reserves | 133 | €37,911 | €37,911 | = | 0.0% |
| Profit (loss) carried forward | 14 | €189,762 | €97,088 | -€92,674 | -48.8% |
| Amounts payable | 17/49 | €657,300 | €880,962 | +€223,662 | +34.0% |
| Amounts payable within one year | 42/48 | €380,412 | €624,942 | +€244,530 | +64.3% |
| Financial debts | 43 | €150,000 | €150,000 | = | 0.0% |
| Credit institutions | 430/8 | €150,000 | €150,000 | = | 0.0% |
| Trade debts | 44 | €550 | €89,526 | +€88,976 | +16177.4% |
| Suppliers | 440/4 | €550 | €89,526 | +€88,976 | +16177.4% |
| Taxes, remuneration and social security | 45 | €44,862 | €35,416 | -€9,445 | -21.1% |
| Taxes | 450/3 | €44,862 | €35,416 | -€9,445 | -21.1% |
| Other amounts payable | 47/48 | €185,000 | €350,000 | +€165,000 | +89.2% |
| Accrued charges and deferred income | 492/3 | €276,888 | €256,020 | -€20,868 | -7.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,900 | €24,455 | +€1,555 | +6.8% |
| Other operating charges | 640/8 | €36,749 | €45,012 | +€8,264 | +22.5% |
| Gross operating margin | 9900 | €321,181 | €375,056 | +€53,875 | +16.8% |
| Operating profit (loss) | 9901 | €261,532 | €305,589 | +€44,057 | +16.8% |
| Financial income | 75/76B | €10,044 | €16,092 | +€6,048 | +60.2% |
| Recurring financial income | 75 | €10,044 | €16,092 | +€6,048 | +60.2% |
| Financial charges | 65/66B | €10,218 | €8,340 | -€1,879 | -18.4% |
| Recurring financial charges | 65 | €10,218 | €8,340 | -€1,879 | -18.4% |
| Profit (loss) for the period before taxes | 9903 | €261,357 | €313,341 | +€51,983 | +19.9% |
| Income taxes | 67/77 | €50,112 | €56,015 | +€5,903 | +11.8% |
| Profit (loss) for the period | 9904 | €211,245 | €257,326 | +€46,081 | +21.8% |
| Profit (loss) for the period to be appropriated | 9905 | €211,245 | €257,326 | +€46,081 | +21.8% |
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 9 October 2026 via checked.be.