FRANCHI G.: 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.
FRANCHI G.
Largest movements
- Current investments -€199,051
down €199,051 (-81.4%), from €244,491 to €45,440
- Cash -€21,649
down €21,649 (-22.8%), from €95,088 to €73,439
mainly Other debts (-€194,535) and Investment in fixed assets (net) (-€18,353)
- Tangible fixed assets +€12,114
up €12,114 (+73.7%), from €16,440 to €28,555
of which Plant, machinery and equipment: +€12,298
- Other debts -€194,535
down €194,535 (-94.9%), from €204,931 to €10,396
- Debts after one year -€15,549
no longer reported in 2025 (was €15,549)
- Reserves +€13,200
up €13,200 (+12.2%), from €108,360 to €121,560
of which Distributable reserves: +€13,200
- Trade debts -€4,055
down €4,055 (-35.6%), from €11,383 to €7,328
- Gross operating margin -€3,525
down €3,525 (-3.1%), from €113,868 to €110,343
- Staff costs +€2,421
up €2,421 (+3.4%), from €70,732 to €73,153
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €372,814 | €172,158 | -€200,656 | -53.8% |
| Fixed assets | 21/28 | €16,440 | €28,555 | +€12,114 | +73.7% |
| Tangible fixed assets | 22/27 | €16,440 | €28,555 | +€12,114 | +73.7% |
| Plant, machinery and equipment | 23 | €13,641 | €25,938 | +€12,298 | +90.2% |
| Furniture and vehicles | 24 | €2,800 | €2,617 | -€183 | -6.5% |
| Current assets | 29/58 | €356,373 | €143,603 | -€212,770 | -59.7% |
| Stocks and contracts in progress | 3 | €8,575 | €10,431 | +€1,857 | +21.7% |
| Stocks | 30/36 | €8,575 | €10,431 | +€1,857 | +21.7% |
| Amounts receivable within one year | 40/41 | €8,220 | €11,888 | +€3,668 | +44.6% |
| Trade receivables | 40 | €6,179 | €9,497 | +€3,319 | +53.7% |
| Other amounts receivable | 41 | €2,041 | €2,391 | +€350 | +17.1% |
| Current investments | 50/53 | €244,491 | €45,440 | -€199,051 | -81.4% |
| Cash at bank and in hand | 54/58 | €95,088 | €73,439 | -€21,649 | -22.8% |
| Deferred charges and accrued income | 490/1 | - | €2,405 | +€2,405 | |
| Total equity and liabilities | 10/49 | €372,814 | €172,158 | -€200,656 | -53.8% |
| Equity | 10/15 | €108,465 | €121,666 | +€13,201 | +12.2% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €108,360 | €121,560 | +€13,200 | +12.2% |
| Tax-exempt reserves | 132 | €17,000 | €17,000 | = | 0.0% |
| Distributable reserves | 133 | €91,360 | €104,560 | +€13,200 | +14.4% |
| Profit (loss) carried forward | 14 | €5 | €6 | +€1 | +22.0% |
| Amounts payable | 17/49 | €264,348 | €50,491 | -€213,857 | -80.9% |
| Amounts payable after more than one year | 17 | €15,549 | - | -€15,549 | |
| Financial debts | 170/4 | €15,549 | - | -€15,549 | |
| Amounts payable within one year | 42/48 | €248,402 | €50,491 | -€197,911 | -79.7% |
| Current portion of amounts payable after more than one year | 42 | €14,953 | €15,549 | +€595 | +4.0% |
| Trade debts | 44 | €11,383 | €7,328 | -€4,055 | -35.6% |
| Suppliers | 440/4 | €11,383 | €7,328 | -€4,055 | -35.6% |
| Taxes, remuneration and social security | 45 | €17,135 | €17,218 | +€84 | +0.5% |
| Taxes | 450/3 | €8,208 | €8,072 | -€137 | -1.7% |
| Remuneration and social security | 454/9 | €8,926 | €9,146 | +€220 | +2.5% |
| Other amounts payable | 47/48 | €204,931 | €10,396 | -€194,535 | -94.9% |
| Accrued charges and deferred income | 492/3 | €397 | - | -€397 | |
| Remuneration, social security and pensions | 62 | €70,732 | €73,153 | +€2,421 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,167 | €6,238 | +€71 | +1.1% |
| Other operating charges | 640/8 | €3,080 | €3,025 | -€54 | -1.8% |
| Non-recurring operating charges | 66A | - | €651 | +€651 | |
| Gross operating margin | 9900 | €113,868 | €110,343 | -€3,525 | -3.1% |
| Operating profit (loss) | 9901 | €33,889 | €27,276 | -€6,613 | -19.5% |
| Financial income | 75/76B | €944 | €1,831 | +€887 | +93.9% |
| Recurring financial income | 75 | €944 | €1,831 | +€887 | +93.9% |
| Financial charges | 65/66B | €2,954 | €1,909 | -€1,045 | -35.4% |
| Recurring financial charges | 65 | €2,954 | €1,909 | -€1,045 | -35.4% |
| Profit (loss) for the period before taxes | 9903 | €31,880 | €27,198 | -€4,681 | -14.7% |
| Income taxes | 67/77 | €9,124 | €8,287 | -€837 | -9.2% |
| Profit (loss) for the period | 9904 | €22,755 | €18,911 | -€3,844 | -16.9% |
| Profit (loss) for the period to be appropriated | 9905 | €22,755 | €18,911 | -€3,844 | -16.9% |
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 28 October 2026 via checked.be.