FRANK: 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.
FRANK
Largest movements
- Tangible fixed assets -€42,056
down €42,056 (-16.4%), from €255,880 to €213,825
of which Furniture and vehicles: -€38,200
- Receivables within one year -€15,745
down €15,745 (-17.5%), from €90,126 to €74,381
of which Trade receivables: -€13,588
- Stocks and contracts +€10,642
up €10,642 (+30.3%), from €35,122 to €45,764
- Cash -€9,073
down €9,073 (-15.2%), from €59,660 to €50,586
mainly Contributions, distributions and other (-€60,000) and Debts after one year (-€33,418)
- Reserves -€60,000
down €60,000 (-40.1%), from €149,747 to €89,747
of which Distributable reserves: -€60,000
- Debts after one year -€33,418
down €33,418 (-46.3%), from €72,184 to €38,766
- Other debts +€22,928
up €22,928 (+123%), from €18,655 to €41,583
- Tax, wage and social debts +€13,590
up €13,590 (+56.9%), from €23,874 to €37,464
of which Taxes: +€9,364
- Profit (loss) carried forward +€11,661
up €11,661 (+62.4%), from €18,702 to €30,363
- Staff costs +€23,839
up €23,839 (+14.6%), from €163,150 to €186,989
- Taxes -€13,490
down €13,490 (-71.3%), from €18,911 to €5,421
- Depreciation +€13,005
up €13,005 (+33.5%), from €38,791 to €51,796
- Gross operating margin +€8,126
up €8,126 (+3.0%), from €270,675 to €278,802
- Other operating charges +€5,972
up €5,972 (+84.0%), from €7,107 to €13,079
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 | €451,467 | €394,144 | -€57,322 | -12.7% |
| Fixed assets | 21/28 | €257,995 | €215,940 | -€42,056 | -16.3% |
| Tangible fixed assets | 22/27 | €255,880 | €213,825 | -€42,056 | -16.4% |
| Land and buildings | 22 | €71,906 | €69,964 | -€1,943 | -2.7% |
| Plant, machinery and equipment | 23 | €63,679 | €61,902 | -€1,777 | -2.8% |
| Furniture and vehicles | 24 | €120,159 | €81,959 | -€38,200 | -31.8% |
| Leasing and similar rights | 25 | €137 | - | -€137 | |
| Financial fixed assets | 28 | €2,115 | €2,115 | = | 0.0% |
| Current assets | 29/58 | €193,472 | €178,205 | -€15,267 | -7.9% |
| Stocks and contracts in progress | 3 | €35,122 | €45,764 | +€10,642 | +30.3% |
| Stocks | 30/36 | €35,122 | €45,764 | +€10,642 | +30.3% |
| Amounts receivable within one year | 40/41 | €90,126 | €74,381 | -€15,745 | -17.5% |
| Trade receivables | 40 | €86,887 | €73,299 | -€13,588 | -15.6% |
| Other amounts receivable | 41 | €3,239 | €1,082 | -€2,157 | -66.6% |
| Cash at bank and in hand | 54/58 | €59,660 | €50,586 | -€9,073 | -15.2% |
| Deferred charges and accrued income | 490/1 | €8,564 | €7,473 | -€1,091 | -12.7% |
| Total equity and liabilities | 10/49 | €451,467 | €394,144 | -€57,322 | -12.7% |
| Equity | 10/15 | €187,049 | €138,710 | -€48,339 | -25.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €149,747 | €89,747 | -€60,000 | -40.1% |
| Non-distributable reserves | 130/1 | €17,353 | €17,353 | = | 0.0% |
| Reserves not available under the articles | 1311 | €17,353 | €17,353 | = | 0.0% |
| Distributable reserves | 133 | €132,395 | €72,395 | -€60,000 | -45.3% |
| Profit (loss) carried forward | 14 | €18,702 | €30,363 | +€11,661 | +62.4% |
| Amounts payable | 17/49 | €264,417 | €255,434 | -€8,983 | -3.4% |
| Amounts payable after more than one year | 17 | €72,184 | €38,766 | -€33,418 | -46.3% |
| Financial debts | 170/4 | €72,184 | €38,766 | -€33,418 | -46.3% |
| Amounts payable within one year | 42/48 | €192,234 | €216,668 | +€24,435 | +12.7% |
| Current portion of amounts payable after more than one year | 42 | €38,395 | €32,876 | -€5,519 | -14.4% |
| Trade debts | 44 | €111,309 | €104,745 | -€6,564 | -5.9% |
| Suppliers | 440/4 | €111,309 | €104,745 | -€6,564 | -5.9% |
| Taxes, remuneration and social security | 45 | €23,874 | €37,464 | +€13,590 | +56.9% |
| Taxes | 450/3 | €14,279 | €23,642 | +€9,364 | +65.6% |
| Remuneration and social security | 454/9 | €9,596 | €13,822 | +€4,226 | +44.0% |
| Other amounts payable | 47/48 | €18,655 | €41,583 | +€22,928 | +123% |
| Remuneration, social security and pensions | 62 | €163,150 | €186,989 | +€23,839 | +14.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,791 | €51,796 | +€13,005 | +33.5% |
| Other operating charges | 640/8 | €7,107 | €13,079 | +€5,972 | +84.0% |
| Gross operating margin | 9900 | €270,675 | €278,802 | +€8,126 | +3.0% |
| Operating profit (loss) | 9901 | €61,627 | €26,938 | -€34,690 | -56.3% |
| Financial income | 75/76B | €112 | €55 | -€57 | -51.2% |
| Recurring financial income | 75 | €112 | €55 | -€57 | -51.2% |
| Financial charges | 65/66B | €10,539 | €9,911 | -€628 | -6.0% |
| Recurring financial charges | 65 | €10,539 | €9,911 | -€628 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | €51,200 | €17,081 | -€34,119 | -66.6% |
| Income taxes | 67/77 | €18,911 | €5,421 | -€13,490 | -71.3% |
| Profit (loss) for the period | 9904 | €32,290 | €11,661 | -€20,629 | -63.9% |
| Profit (loss) for the period to be appropriated | 9905 | €32,290 | €11,661 | -€20,629 | -63.9% |
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 16 October 2026 via checked.be.