FRAMIMMO: 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.
What changed
FRAMIMMO
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€5,657
2024 · €223,722-€218,065
Equity
€2.5m
2024 · €2.7m-€196,972
Cash
€40,413
2024 · €244,245-€203,832
Balance sheet total
€2.8m
2024 · €3.0m-€232,564
Largest movements
Assets
- Cash -€203,832
down €203,832 (-83.5%), from €244,245 to €40,413
mainly Contributions, distributions and other (-€202,629) and Debts after one year (-€39,425)
- Current investments +€38,260
up €38,260 (+7.8%), from €492,434 to €530,693
- Tangible fixed assets -€37,821
down €37,821 (-2.3%), from €1.6m to €1.6m
of which Land and buildings: -€41,766
Equity and liabilities
- Reserves -€196,972
down €196,972 (-8.5%), from €2.3m to €2.1m
of which Distributable reserves: -€196,972
- Debts after one year -€39,425
down €39,425 (-37.6%), from €104,868 to €65,443
of which Financial debts: -€40,725
Income statement
- Gross operating margin -€303,901
down €303,901 (-75.3%), from €403,470 to €99,569
- Taxes -€22,993
down €22,993 (-77.7%), from €29,579 to €6,586
- Other operating charges +€4,763
up €4,763 (+13.7%), from €34,857 to €39,621
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.
Result 2024
€223,722
Gross operating margin
-€303,901
Depreciation
+€93
Other operating charges
-€4,763
Financial income
-€33
Financial charges
+€1,651
Taxes
+€22,993
Deferred taxes and other
+€65,895
Result 2025
€5,657
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.
From operations
+€82,281
Investment
-€45,683
Financing
-€240,430
Cash 2024
€244,245
From operations (derived)
+€82,281
Net result for the year
+€5,657
Depreciation
+€45,244
Receivables within one year
+€29,376
Deferred charges and accrued income
-€206
Trade debts
-€10,295
Tax, wage and social debts
-€4,048
Other debts
+€23,736
Accrued charges and deferred income
-€7,184
Investment (derived)
-€45,683
Investment in fixed assets (net)
-€7,423
Current investments
-€38,260
Financing
-€240,430
Debts after one year
-€39,425
Current portion of long-term debt
+€1,557
Short-term financial debts
+€68
Contributions, distributions and other
-€202,629
Cash 2025
€40,413
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,997,452 | €2,764,888 | -€232,564 | -7.8% |
| Fixed assets | 21/28 | €1,614,018 | €1,576,197 | -€37,821 | -2.3% |
| Tangible fixed assets | 22/27 | €1,614,018 | €1,576,197 | -€37,821 | -2.3% |
| Land and buildings | 22 | €981,431 | €939,666 | -€41,766 | -4.3% |
| Plant, machinery and equipment | 23 | €0 | €5,700 | +€5,700 | |
| Furniture and vehicles | 24 | €9,415 | €6,129 | -€3,286 | -34.9% |
| Assets under construction and advance payments | 27 | €623,172 | €624,702 | +€1,530 | +0.2% |
| Current assets | 29/58 | €1,383,433 | €1,188,691 | -€194,742 | -14.1% |
| Amounts receivable within one year | 40/41 | €644,707 | €615,331 | -€29,376 | -4.6% |
| Other amounts receivable | 41 | €644,707 | €615,331 | -€29,376 | -4.6% |
| Current investments | 50/53 | €492,434 | €530,693 | +€38,260 | +7.8% |
| Cash at bank and in hand | 54/58 | €244,245 | €40,413 | -€203,832 | -83.5% |
| Deferred charges and accrued income | 490/1 | €2,047 | €2,253 | +€206 | +10.1% |
| Total equity and liabilities | 10/49 | €2,997,452 | €2,764,888 | -€232,564 | -7.8% |
| Equity | 10/15 | €2,746,356 | €2,549,383 | -€196,972 | -7.2% |
| Contributions | 10/11 | €131,000 | €131,000 | = | 0.0% |
| Capital | 10 | €131,000 | €131,000 | = | 0.0% |
| Issued capital | 100 | €131,000 | €131,000 | = | 0.0% |
| Reserves | 13 | €2,311,690 | €2,114,718 | -€196,972 | -8.5% |
| Non-distributable reserves | 130/1 | €13,100 | €13,100 | = | 0.0% |
| Legal reserve | 130 | €13,100 | €13,100 | = | 0.0% |
| Tax-exempt reserves | 132 | €281,886 | €281,886 | = | 0.0% |
| Distributable reserves | 133 | €2,016,704 | €1,819,732 | -€196,972 | -9.8% |
| Profit (loss) carried forward | 14 | €303,666 | €303,666 | = | 0.0% |
| Provisions and deferred taxes | 16 | €65,895 | €65,895 | = | 0.0% |
| Deferred taxes | 168 | €65,895 | €65,895 | = | 0.0% |
| Amounts payable | 17/49 | €185,200 | €149,609 | -€35,591 | -19.2% |
| Amounts payable after more than one year | 17 | €104,868 | €65,443 | -€39,425 | -37.6% |
| Financial debts | 170/4 | €104,868 | €64,143 | -€40,725 | -38.8% |
| Other amounts payable | 178/9 | - | €1,300 | +€1,300 | |
| Amounts payable within one year | 42/48 | €73,149 | €84,167 | +€11,018 | +15.1% |
| Current portion of amounts payable after more than one year | 42 | €39,169 | €40,725 | +€1,557 | +4.0% |
| Financial debts | 43 | €6,387 | €6,454 | +€68 | +1.1% |
| Credit institutions | 430/8 | €6,387 | €6,454 | +€68 | +1.1% |
| Trade debts | 44 | €10,692 | €398 | -€10,295 | -96.3% |
| Suppliers | 440/4 | €10,692 | €398 | -€10,295 | -96.3% |
| Taxes, remuneration and social security | 45 | €16,900 | €12,852 | -€4,048 | -24.0% |
| Taxes | 450/3 | €16,900 | €12,852 | -€4,048 | -24.0% |
| Other amounts payable | 47/48 | €1 | €23,737 | +€23,736 | +2327073.5% |
| Accrued charges and deferred income | 492/3 | €7,184 | €0 | -€7,184 | -100.0% |
| Non-recurring operating income | 76A | €266,039 | €3,643 | -€262,396 | -98.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,338 | €45,244 | -€93 | -0.2% |
| Other operating charges | 640/8 | €34,857 | €39,621 | +€4,763 | +13.7% |
| Gross operating margin | 9900 | €403,470 | €99,569 | -€303,901 | -75.3% |
| Operating profit (loss) | 9901 | €323,275 | €14,703 | -€308,571 | -95.5% |
| Financial income | 75/76B | €3,751 | €3,718 | -€33 | -0.9% |
| Recurring financial income | 75 | €3,751 | €3,718 | -€33 | -0.9% |
| Financial charges | 65/66B | €7,829 | €6,178 | -€1,651 | -21.1% |
| Recurring financial charges | 65 | €7,829 | €6,178 | -€1,651 | -21.1% |
| Profit (loss) for the period before taxes | 9903 | €319,196 | €12,243 | -€306,953 | -96.2% |
| Transfer to deferred taxes | 680 | €65,895 | €0 | -€65,895 | -100.0% |
| Income taxes | 67/77 | €29,579 | €6,586 | -€22,993 | -77.7% |
| Profit (loss) for the period | 9904 | €223,722 | €5,657 | -€218,065 | -97.5% |
| Transfer to tax-exempt reserves | 689 | €197,686 | €0 | -€197,686 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €26,036 | €5,657 | -€20,379 | -78.3% |
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 3 October 2026 via checked.be.