FRANCOIS-ALAIN: 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.
FRANCOIS-ALAIN
Largest movements
- Receivables within one year -€16,915
down €16,915 (-22.9%), from €73,909 to €56,994
of which Trade receivables: -€18,487
- Cash +€10,806
up €10,806 (+6.1%), from €176,016 to €186,823
mainly Net result for the year (+€37,418) and Depreciation (+€32,941)
- Reserves +€37,418
up €37,418 (+15.5%), from €241,540 to €278,958
of which Distributable reserves: +€37,418
- Tax, wage and social debts -€30,784
down €30,784 (-47.0%), from €65,520 to €34,736
of which Taxes: -€31,069
- Debts after one year -€18,610
down €18,610 (-36.3%), from €51,296 to €32,686
- Depreciation +€11,866
up €11,866 (+56.3%), from €21,074 to €32,941
- Gross operating margin +€8,296
up €8,296 (+5.7%), from €145,149 to €153,445
- Taxes -€6,837
down €6,837 (-28.0%), from €24,398 to €17,561
- Other operating charges +€6,353
up €6,353 (+38.3%), from €16,601 to €22,954
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 | €587,578 | €573,438 | -€14,139 | -2.4% |
| Fixed assets | 21/28 | €158,891 | €159,124 | +€233 | +0.1% |
| Tangible fixed assets | 22/27 | €156,369 | €156,602 | +€233 | +0.1% |
| Plant, machinery and equipment | 23 | €10,431 | €9,938 | -€493 | -4.7% |
| Furniture and vehicles | 24 | €114,938 | €115,664 | +€726 | +0.6% |
| Other tangible fixed assets | 26 | €31,000 | €31,000 | = | 0.0% |
| Financial fixed assets | 28 | €2,522 | €2,522 | = | 0.0% |
| Current assets | 29/58 | €428,687 | €414,314 | -€14,372 | -3.4% |
| Stocks and contracts in progress | 3 | €173,524 | €167,753 | -€5,771 | -3.3% |
| Stocks | 30/36 | €173,524 | €167,753 | -€5,771 | -3.3% |
| Amounts receivable within one year | 40/41 | €73,909 | €56,994 | -€16,915 | -22.9% |
| Trade receivables | 40 | €73,041 | €54,555 | -€18,487 | -25.3% |
| Other amounts receivable | 41 | €868 | €2,439 | +€1,571 | +181% |
| Cash at bank and in hand | 54/58 | €176,016 | €186,823 | +€10,806 | +6.1% |
| Deferred charges and accrued income | 490/1 | €5,237 | €2,745 | -€2,492 | -47.6% |
| Total equity and liabilities | 10/49 | €587,578 | €573,438 | -€14,139 | -2.4% |
| Equity | 10/15 | €446,579 | €483,997 | +€37,418 | +8.4% |
| Contributions | 10/11 | €17,661 | €17,661 | = | 0.0% |
| Reserves | 13 | €241,540 | €278,958 | +€37,418 | +15.5% |
| Non-distributable reserves | 130/1 | €3,184 | €3,184 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,184 | €3,184 | = | 0.0% |
| Tax-exempt reserves | 132 | €45,672 | €45,672 | = | 0.0% |
| Distributable reserves | 133 | €192,684 | €230,102 | +€37,418 | +19.4% |
| Profit (loss) carried forward | 14 | €187,378 | €187,378 | = | 0.0% |
| Amounts payable | 17/49 | €140,999 | €89,442 | -€51,557 | -36.6% |
| Amounts payable after more than one year | 17 | €51,296 | €32,686 | -€18,610 | -36.3% |
| Financial debts | 170/4 | €51,296 | €32,686 | -€18,610 | -36.3% |
| Amounts payable within one year | 42/48 | €89,703 | €56,756 | -€32,947 | -36.7% |
| Current portion of amounts payable after more than one year | 42 | €17,894 | €18,610 | +€716 | +4.0% |
| Trade debts | 44 | €6,289 | €3,410 | -€2,879 | -45.8% |
| Suppliers | 440/4 | €6,289 | €3,410 | -€2,879 | -45.8% |
| Taxes, remuneration and social security | 45 | €65,520 | €34,736 | -€30,784 | -47.0% |
| Taxes | 450/3 | €62,132 | €31,063 | -€31,069 | -50.0% |
| Remuneration and social security | 454/9 | €3,388 | €3,673 | +€285 | +8.4% |
| Remuneration, social security and pensions | 62 | €40,541 | €41,366 | +€825 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,074 | €32,941 | +€11,866 | +56.3% |
| Other operating charges | 640/8 | €16,601 | €22,954 | +€6,353 | +38.3% |
| Gross operating margin | 9900 | €145,149 | €153,445 | +€8,296 | +5.7% |
| Operating profit (loss) | 9901 | €66,933 | €56,184 | -€10,749 | -16.1% |
| Financial income | 75/76B | €1,424 | €1,302 | -€122 | -8.6% |
| Recurring financial income | 75 | €1,424 | €1,302 | -€122 | -8.6% |
| Financial charges | 65/66B | €1,388 | €2,507 | +€1,119 | +80.6% |
| Recurring financial charges | 65 | €1,388 | €2,507 | +€1,119 | +80.6% |
| Profit (loss) for the period before taxes | 9903 | €66,969 | €54,979 | -€11,990 | -17.9% |
| Income taxes | 67/77 | €24,398 | €17,561 | -€6,837 | -28.0% |
| Profit (loss) for the period | 9904 | €42,571 | €37,418 | -€5,153 | -12.1% |
| Profit (loss) for the period to be appropriated | 9905 | €42,571 | €37,418 | -€5,153 | -12.1% |
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 27 October 2026 via checked.be.