FRANCK: 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
FRANCK
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€1,856
2024 · €23,404-€25,259
Equity
€86,072
2024 · €87,927-€1,856
Cash
€4,420
2024 · €7,484-€3,065
Balance sheet total
€2.9m
2024 · €2.9m-€55,107
Largest movements
Assets
- Receivables within one year -€45,144
down €45,144 (-37.3%), from €121,173 to €76,030
of which Trade receivables: -€48,100
Equity and liabilities
- Debts after one year -€66,667
down €66,667 (-9.6%), from €694,445 to €627,778
Income statement
- Gross operating margin -€20,504
down €20,504 (-6.3%), from €323,631 to €303,127
- Staff costs +€12,164
up €12,164 (+10.1%), from €120,765 to €132,928
- Financial charges -€10,431
down €10,431 (-6.4%), from €161,920 to €151,489
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
€23,404
Gross operating margin
-€20,504
Staff costs
-€12,164
Depreciation
-€1,443
Other operating charges
+€240
Financial income
-€371
Financial charges
+€10,431
Taxes
-€1,448
Result 2025
-€1,856
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
+€71,598
Investment
-€7,996
Financing
-€66,667
Cash 2024
€7,484
From operations (derived)
+€71,598
Net result for the year
-€1,856
Depreciation
+€3,268
Receivables within one year
+€45,144
Deferred charges and accrued income
+€11,627
Trade debts
+€7,402
Tax, wage and social debts
+€12,136
Advances received
-€344
Other debts
-€4,410
Accrued charges and deferred income
-€1,369
Investment (derived)
-€7,996
Investment in fixed assets (net)
-€7,996
Financing
-€66,667
Debts after one year
-€66,667
Cash 2025
€4,420
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,924,310 | €2,869,203 | -€55,107 | -1.9% |
| Fixed assets | 21/28 | €2,753,804 | €2,758,531 | +€4,727 | +0.2% |
| Tangible fixed assets | 22/27 | €3,804 | €8,531 | +€4,727 | +124.3% |
| Furniture and vehicles | 24 | €3,804 | €8,531 | +€4,727 | +124.3% |
| Financial fixed assets | 28 | €2,750,000 | €2,750,000 | = | 0.0% |
| Current assets | 29/58 | €170,506 | €110,672 | -€59,835 | -35.1% |
| Amounts receivable within one year | 40/41 | €121,173 | €76,030 | -€45,144 | -37.3% |
| Trade receivables | 40 | €110,787 | €62,687 | -€48,100 | -43.4% |
| Other amounts receivable | 41 | €10,387 | €13,343 | +€2,956 | +28.5% |
| Cash at bank and in hand | 54/58 | €7,484 | €4,420 | -€3,065 | -40.9% |
| Deferred charges and accrued income | 490/1 | €41,849 | €30,222 | -€11,627 | -27.8% |
| Total equity and liabilities | 10/49 | €2,924,310 | €2,869,203 | -€55,107 | -1.9% |
| Equity | 10/15 | €87,927 | €86,072 | -€1,856 | -2.1% |
| Contributions | 10/11 | €18,774 | €18,774 | = | 0.0% |
| Reserves | 13 | €69,153 | €67,297 | -€1,856 | -2.7% |
| Distributable reserves | 133 | €69,153 | €67,297 | -€1,856 | -2.7% |
| Amounts payable | 17/49 | €2,836,383 | €2,783,131 | -€53,252 | -1.9% |
| Amounts payable after more than one year | 17 | €694,445 | €627,778 | -€66,667 | -9.6% |
| Financial debts | 170/4 | €694,445 | €627,778 | -€66,667 | -9.6% |
| Amounts payable within one year | 42/48 | €2,140,569 | €2,155,353 | +€14,784 | +0.7% |
| Current portion of amounts payable after more than one year | 42 | €66,667 | €66,667 | = | 0.0% |
| Trade debts | 44 | €3,253 | €10,656 | +€7,402 | +227.5% |
| Suppliers | 440/4 | €3,253 | €10,656 | +€7,402 | +227.5% |
| Advances received on contracts in progress | 46 | €344 | - | -€344 | |
| Taxes, remuneration and social security | 45 | €89,586 | €101,722 | +€12,136 | +13.5% |
| Taxes | 450/3 | €78,514 | €87,001 | +€8,486 | +10.8% |
| Remuneration and social security | 454/9 | €11,072 | €14,721 | +€3,649 | +33.0% |
| Other amounts payable | 47/48 | €1,980,718 | €1,976,309 | -€4,410 | -0.2% |
| Accrued charges and deferred income | 492/3 | €1,369 | - | -€1,369 | |
| Non-recurring operating income | 76A | €11,576 | - | -€11,576 | |
| Remuneration, social security and pensions | 62 | €120,765 | €132,928 | +€12,164 | +10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,825 | €3,268 | +€1,443 | +79.1% |
| Other operating charges | 640/8 | €4,000 | €3,761 | -€240 | -6.0% |
| Gross operating margin | 9900 | €323,631 | €303,127 | -€20,504 | -6.3% |
| Operating profit (loss) | 9901 | €197,041 | €163,169 | -€33,871 | -17.2% |
| Financial income | 75/76B | €948 | €577 | -€371 | -39.1% |
| Recurring financial income | 75 | €948 | €577 | -€371 | -39.1% |
| Financial charges | 65/66B | €161,920 | €151,489 | -€10,431 | -6.4% |
| Recurring financial charges | 65 | €161,920 | €151,489 | -€10,431 | -6.4% |
| Profit (loss) for the period before taxes | 9903 | €36,069 | €12,257 | -€23,812 | -66.0% |
| Income taxes | 67/77 | €12,665 | €14,113 | +€1,448 | +11.4% |
| Profit (loss) for the period | 9904 | €23,404 | -€1,856 | -€25,259 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,404 | -€1,856 | -€25,259 |
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 2 October 2026 via checked.be.