FRAMIBEL: 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.
FRAMIBEL
Largest movements
- Cash +€617,317
up €617,317 (+37201.0%), from €1,659 to €618,976
mainly Other debts (+€671,765) and Investment in fixed assets (net) (+€577,229)
- Financial fixed assets -€577,229
down €577,229 (-6.0%), from €9.7m to €9.1m
- Receivables within one year -€98,329
down €98,329 (-97.4%), from €101,000 to €2,670
of which Trade receivables: -€98,909
- Debts after one year -€917,856
down €917,856 (-23.4%), from €3.9m to €3.0m
- Other debts +€671,765
up €671,765 (+70.2%), from €957,251 to €1.6m
- Current portion of long-term debt +€137,836
up €137,836 (+23.0%), from €600,020 to €737,856
- Financial charges +€571,097
up €571,097 (+546.8%), from €104,450 to €675,547
of which Non-recurring financial charges: +€577,229
- Financial income +€172,232
up €172,232 (+40.1%), from €429,000 to €601,232
- Turnover +€156,240
up €156,240 (+24.9%), from €627,120 to €783,360
- Services and other goods -€17,344
down €17,344 (-4.4%), from €391,196 to €373,852
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 | €9,781,934 | €9,724,661 | -€57,273 | -0.6% |
| Fixed assets | 21/28 | €9,679,275 | €9,102,046 | -€577,229 | -6.0% |
| Financial fixed assets | 28 | €9,679,275 | €9,102,046 | -€577,229 | -6.0% |
| Affiliated companies | 280/1 | €9,679,275 | €9,102,046 | -€577,229 | -6.0% |
| Participating interests | 280 | €9,679,275 | €9,102,046 | -€577,229 | -6.0% |
| Current assets | 29/58 | €102,659 | €622,615 | +€519,956 | +506.5% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €101,000 | €2,670 | -€98,329 | -97.4% |
| Trade receivables | 40 | €101,000 | €2,091 | -€98,909 | -97.9% |
| Other amounts receivable | 41 | €0 | €579 | +€579 | |
| Cash at bank and in hand | 54/58 | €1,659 | €618,976 | +€617,317 | +37201.0% |
| Deferred charges and accrued income | 490/1 | - | €968 | +€968 | |
| Total equity and liabilities | 10/49 | €9,781,934 | €9,724,661 | -€57,273 | -0.6% |
| Equity | 10/15 | €4,255,177 | €4,295,755 | +€40,579 | +1.0% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Capital | 10 | €1,000,000 | €1,000,000 | = | 0.0% |
| Issued capital | 100 | €1,000,000 | €1,000,000 | = | 0.0% |
| Reserves | 13 | €3,255,177 | €3,295,755 | +€40,579 | +1.2% |
| Non-distributable reserves | 130/1 | €100,000 | €100,000 | = | 0.0% |
| Legal reserve | 130 | €100,000 | €100,000 | = | 0.0% |
| Distributable reserves | 133 | €3,155,177 | €3,195,755 | +€40,579 | +1.3% |
| Amounts payable | 17/49 | €5,526,758 | €5,428,906 | -€97,851 | -1.8% |
| Amounts payable after more than one year | 17 | €3,923,814 | €3,005,958 | -€917,856 | -23.4% |
| Financial debts | 170/4 | €3,923,814 | €3,005,958 | -€917,856 | -23.4% |
| Subordinated loans | 170 | €3,175,000 | €2,500,000 | -€675,000 | -21.3% |
| Credit institutions | 173 | €748,814 | €505,958 | -€242,856 | -32.4% |
| Amounts payable within one year | 42/48 | €1,602,944 | €2,422,948 | +€820,005 | +51.2% |
| Current portion of amounts payable after more than one year | 42 | €600,020 | €737,856 | +€137,836 | +23.0% |
| Trade debts | 44 | €14,395 | €14,113 | -€281 | -2.0% |
| Suppliers | 440/4 | €14,395 | €14,113 | -€281 | -2.0% |
| Taxes, remuneration and social security | 45 | €31,278 | €41,963 | +€10,685 | +34.2% |
| Taxes | 450/3 | €12,951 | €27,284 | +€14,333 | +110.7% |
| Remuneration and social security | 454/9 | €18,327 | €14,679 | -€3,648 | -19.9% |
| Other amounts payable | 47/48 | €957,251 | €1,629,016 | +€671,765 | +70.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Operating income | 70/76A | €629,081 | €784,385 | +€155,304 | +24.7% |
| Turnover | 70 | €627,120 | €783,360 | +€156,240 | +24.9% |
| Other operating income | 74 | €1,961 | €1,025 | -€936 | -47.7% |
| Operating charges | 60/66A | €514,556 | €501,423 | -€13,133 | -2.6% |
| Services and other goods | 61 | €391,196 | €373,852 | -€17,344 | -4.4% |
| Remuneration, social security and pensions | 62 | €121,906 | €126,073 | +€4,167 | +3.4% |
| Other operating charges | 640/8 | €1,454 | €1,499 | +€44 | +3.0% |
| Operating profit (loss) | 9901 | €114,525 | €282,962 | +€168,437 | +147.1% |
| Financial income | 75/76B | €429,000 | €601,232 | +€172,232 | +40.1% |
| Recurring financial income | 75 | €429,000 | €601,232 | +€172,232 | +40.1% |
| Income from financial fixed assets | 750 | €429,000 | €599,070 | +€170,070 | +39.6% |
| Income from current assets | 751 | - | €2,162 | +€2,162 | |
| Financial charges | 65/66B | €104,450 | €675,547 | +€571,097 | +546.8% |
| Recurring financial charges | 65 | €104,450 | €98,318 | -€6,132 | -5.9% |
| Debt charges | 650 | €103,649 | €97,487 | -€6,162 | -5.9% |
| Other financial charges | 652/9 | €800 | €831 | +€30 | +3.8% |
| Non-recurring financial charges | 66B | - | €577,229 | +€577,229 | |
| Profit (loss) for the period before taxes | 9903 | €439,075 | €208,648 | -€230,428 | -52.5% |
| Income taxes | 67/77 | €174 | €69 | -€105 | -60.3% |
| Taxes | 670/3 | €174 | €69 | -€105 | -60.3% |
| Profit (loss) for the period | 9904 | €438,901 | €208,579 | -€230,322 | -52.5% |
| Profit (loss) for the period to be appropriated | 9905 | €438,901 | €208,579 | -€230,322 | -52.5% |
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 10 October 2026 via checked.be.