Frandi: 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.
Frandi
Largest movements
- Tangible fixed assets +€25,119
up €25,119 (+2.8%), from €890,831 to €915,950
of which Land and buildings: +€26,880
- Cash -€23,092
down €23,092 (-86.4%), from €26,722 to €3,630
mainly Investment in fixed assets (net) (-€99,047) and Debts after one year (-€9,982)
- Receivables within one year -€19,752
down €19,752 (-11.1%), from €178,159 to €158,407
of which Other amounts receivable: -€10,386
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€19,098
up €19,098 (+22.8%), from €83,796 to €102,894
- Depreciation +€4,301
up €4,301 (+6.2%), from €69,627 to €73,929
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,224,602 | €1,208,442 | -€16,161 | -1.3% |
| Fixed assets | 21/28 | €1,015,026 | €1,040,145 | +€25,119 | +2.5% |
| Tangible fixed assets | 22/27 | €890,831 | €915,950 | +€25,119 | +2.8% |
| Land and buildings | 22 | €846,291 | €873,170 | +€26,880 | +3.2% |
| Plant, machinery and equipment | 23 | €2,345 | €1,336 | -€1,009 | -43.0% |
| Other tangible fixed assets | 26 | €42,195 | €41,443 | -€752 | -1.8% |
| Financial fixed assets | 28 | €124,195 | €124,195 | = | 0.0% |
| Current assets | 29/58 | €209,577 | €168,297 | -€41,279 | -19.7% |
| Amounts receivable within one year | 40/41 | €178,159 | €158,407 | -€19,752 | -11.1% |
| Trade receivables | 40 | €9,366 | €0 | -€9,366 | -100.0% |
| Other amounts receivable | 41 | €168,793 | €158,407 | -€10,386 | -6.2% |
| Cash at bank and in hand | 54/58 | €26,722 | €3,630 | -€23,092 | -86.4% |
| Deferred charges and accrued income | 490/1 | €4,695 | €6,260 | +€1,565 | +33.3% |
| Total equity and liabilities | 10/49 | €1,224,602 | €1,208,442 | -€16,161 | -1.3% |
| Equity | 10/15 | €1,101,166 | €1,101,115 | -€51 | 0.0% |
| Contributions | 10/11 | €706,497 | €706,497 | = | 0.0% |
| Capital | 10 | €706,497 | €706,497 | = | 0.0% |
| Issued capital | 100 | €706,497 | €706,497 | = | 0.0% |
| Revaluation surpluses | 12 | €124,195 | €124,195 | = | 0.0% |
| Reserves | 13 | €270,475 | €270,424 | -€51 | 0.0% |
| Non-distributable reserves | 130/1 | €70,650 | €70,650 | = | 0.0% |
| Legal reserve | 130 | €70,650 | €70,650 | = | 0.0% |
| Distributable reserves | 133 | €199,825 | €199,774 | -€51 | 0.0% |
| Amounts payable | 17/49 | €123,436 | €107,327 | -€16,110 | -13.1% |
| Amounts payable after more than one year | 17 | €31,250 | €21,268 | -€9,982 | -31.9% |
| Financial debts | 170/4 | €31,250 | €21,268 | -€9,982 | -31.9% |
| Amounts payable within one year | 42/48 | €87,981 | €85,559 | -€2,423 | -2.8% |
| Current portion of amounts payable after more than one year | 42 | €9,572 | €9,982 | +€411 | +4.3% |
| Trade debts | 44 | €15,938 | €11,162 | -€4,776 | -30.0% |
| Suppliers | 440/4 | €15,938 | €11,162 | -€4,776 | -30.0% |
| Other amounts payable | 47/48 | €62,472 | €64,415 | +€1,943 | +3.1% |
| Accrued charges and deferred income | 492/3 | €4,205 | €500 | -€3,705 | -88.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,627 | €73,929 | +€4,301 | +6.2% |
| Other operating charges | 640/8 | €30,301 | €31,315 | +€1,015 | +3.3% |
| Gross operating margin | 9900 | €83,796 | €102,894 | +€19,098 | +22.8% |
| Operating profit (loss) | 9901 | -€16,132 | -€2,350 | +€13,782 | +85.4% |
| Financial income | 75/76B | €4,487 | €4,614 | +€126 | +2.8% |
| Recurring financial income | 75 | €4,487 | €4,614 | +€126 | +2.8% |
| Financial charges | 65/66B | €2,513 | €2,315 | -€199 | -7.9% |
| Recurring financial charges | 65 | €2,513 | €2,315 | -€199 | -7.9% |
| Profit (loss) for the period before taxes | 9903 | -€14,158 | -€51 | +€14,107 | +99.6% |
| Profit (loss) for the period | 9904 | -€14,158 | -€51 | +€14,107 | +99.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,158 | -€51 | +€14,107 | +99.6% |
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 8 October 2026 via checked.be.