Francesse: 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.
What changed
Francesse
NACE 46.212, Wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1,480
2024 · €113,422-€111,942
Equity
€736,925
2024 · €755,996-€19,071
Cash
€56,291
2024 · €75,287-€18,996
Balance sheet total
€5.4m
2024 · €5.2m+€190,898
Largest movements
Assets
- Receivables within one year +€152,535
up €152,535 (+16.8%), from €905,595 to €1.1m
of which Trade receivables: +€147,391
- Tangible fixed assets +€72,519
up €72,519 (+1.8%), from €4.1m to €4.2m
of which Furniture and vehicles: +€296,554
Equity and liabilities
- Trade debts +€148,049
up €148,049 (+97.1%), from €152,437 to €300,486
- Current portion of long-term debt +€65,059
up €65,059 (+15.7%), from €413,987 to €479,045
Income statement
- Staff costs +€142,995
up €142,995 (+15.2%), from €939,454 to €1.1m
- Gross operating margin +€116,607
up €116,607 (+6.4%), from €1.8m to €1.9m
- Write-downs +€71,093
up €71,093 (+34,060%), from €209 to €71,301
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
€113,422
Gross operating margin
+€116,607
Staff costs
-€142,995
Depreciation
+€9,923
Write-downs
-€71,093
Other operating charges
-€17,502
Financial income
-€14,224
Financial charges
+€7,341
Result 2025
€1,480
raises the resultlowers the result
Derived cash bridge
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
+€486,796
Investment
-€540,842
Financing
+€35,050
Cash 2024
€75,287
From operations (derived)
+€486,796
Net result for the year
+€1,480
Depreciation
+€468,323
Stocks and contracts
-€16,564
Receivables within one year
-€152,535
Deferred charges and accrued income
+€31,724
Trade debts
+€148,049
Tax, wage and social debts
+€21,371
Accrued charges and deferred income
-€15,051
Investment (derived)
-€540,842
Investment in fixed assets (net)
-€540,842
Financing
+€35,050
Debts after one year
-€9,458
Current portion of long-term debt
+€65,059
Contributions, distributions and other
-€20,551
Cash 2025
€56,291
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,181,630 | €5,372,529 | +€190,898 | +3.7% |
| Fixed assets | 21/28 | €4,130,702 | €4,203,221 | +€72,519 | +1.8% |
| Tangible fixed assets | 22/27 | €4,124,339 | €4,196,858 | +€72,519 | +1.8% |
| Land and buildings | 22 | €3,615,685 | €3,450,787 | -€164,898 | -4.6% |
| Plant, machinery and equipment | 23 | €193,424 | €134,286 | -€59,138 | -30.6% |
| Furniture and vehicles | 24 | €315,231 | €611,785 | +€296,554 | +94.1% |
| Financial fixed assets | 28 | €6,363 | €6,363 | = | 0.0% |
| Current assets | 29/58 | €1,050,928 | €1,169,308 | +€118,380 | +11.3% |
| Stocks and contracts in progress | 3 | €8,418 | €24,982 | +€16,564 | +197% |
| Stocks | 30/36 | €8,418 | €24,982 | +€16,564 | +197% |
| Amounts receivable within one year | 40/41 | €905,595 | €1,058,131 | +€152,535 | +16.8% |
| Trade receivables | 40 | €857,711 | €1,005,102 | +€147,391 | +17.2% |
| Other amounts receivable | 41 | €47,884 | €53,029 | +€5,144 | +10.7% |
| Cash at bank and in hand | 54/58 | €75,287 | €56,291 | -€18,996 | -25.2% |
| Deferred charges and accrued income | 490/1 | €61,628 | €29,904 | -€31,724 | -51.5% |
| Total equity and liabilities | 10/49 | €5,181,630 | €5,372,529 | +€190,898 | +3.7% |
| Equity | 10/15 | €755,996 | €736,925 | -€19,071 | -2.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €684,799 | €686,279 | +€1,480 | +0.2% |
| Investment grants | 15 | €63,137 | €42,585 | -€20,551 | -32.6% |
| Amounts payable | 17/49 | €4,425,635 | €4,635,604 | +€209,970 | +4.7% |
| Amounts payable after more than one year | 17 | €3,711,461 | €3,702,003 | -€9,458 | -0.3% |
| Financial debts | 170/4 | €3,711,461 | €3,702,003 | -€9,458 | -0.3% |
| Amounts payable within one year | 42/48 | €678,847 | €913,325 | +€234,479 | +34.5% |
| Current portion of amounts payable after more than one year | 42 | €413,987 | €479,045 | +€65,059 | +15.7% |
| Trade debts | 44 | €152,437 | €300,486 | +€148,049 | +97.1% |
| Suppliers | 440/4 | €152,437 | €300,486 | +€148,049 | +97.1% |
| Taxes, remuneration and social security | 45 | €112,423 | €133,794 | +€21,371 | +19.0% |
| Taxes | 450/3 | €34,079 | €26,270 | -€7,809 | -22.9% |
| Remuneration and social security | 454/9 | €78,344 | €107,524 | +€29,180 | +37.2% |
| Accrued charges and deferred income | 492/3 | €35,327 | €20,276 | -€15,051 | -42.6% |
| Remuneration, social security and pensions | 62 | €939,454 | €1,082,448 | +€142,995 | +15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €478,246 | €468,323 | -€9,923 | -2.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €209 | €71,301 | +€71,093 | +34,060% |
| Other operating charges | 640/8 | €160,685 | €178,187 | +€17,502 | +10.9% |
| Gross operating margin | 9900 | €1,824,888 | €1,941,495 | +€116,607 | +6.4% |
| Operating profit (loss) | 9901 | €246,294 | €141,236 | -€105,059 | -42.7% |
| Financial income | 75/76B | €14,224 | - | -€14,224 | |
| Recurring financial income | 75 | €14,224 | - | -€14,224 | |
| Financial charges | 65/66B | €147,097 | €139,756 | -€7,341 | -5.0% |
| Recurring financial charges | 65 | €147,097 | €139,756 | -€7,341 | -5.0% |
| Profit (loss) for the period before taxes | 9903 | €113,422 | €1,480 | -€111,942 | -98.7% |
| Profit (loss) for the period | 9904 | €113,422 | €1,480 | -€111,942 | -98.7% |
| Profit (loss) for the period to be appropriated | 9905 | €113,422 | €1,480 | -€111,942 | -98.7% |
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 17 October 2026 via checked.be.