FRANK BELGIUM: what changed
FRANK BELGIUM
Largest movements
- Stocks and contracts +€54,966
up €54,966 (+210%), from €26,200 to €81,166
- Cash -€16,480
down €16,480 (-88.1%), from €18,710 to €2,230
mainly Stocks and contracts (-€54,966) and Net result for the year (-€8,884)
- Receivables within one year +€1,354
up €1,354 (+10.4%), from €12,970 to €14,324
of which Other amounts receivable: +€14,305
- Other debts +€49,998
up €49,998 (+423%), from €11,832 to €61,830
- Profit (loss) carried forward -€8,884
down €8,884 (-58.1%), from €15,302 to €6,419
- Tax, wage and social debts -€1,631
down €1,631 (-95.7%), from €1,705 to €74
- Gross operating margin -€1,834
down €1,834 (-39.0%), from -€4,705 to -€6,539
- Other operating charges +€1,139
up €1,139 (+184%), from €619 to €1,758
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €60,324 | €99,772 | +€39,448 | +65.4% |
| Fixed assets | 21/28 | €502 | €20 | -€482 | -96.1% |
| Tangible fixed assets | 22/27 | €502 | €20 | -€482 | -96.1% |
| Plant, machinery and equipment | 23 | €502 | €20 | -€482 | -96.1% |
| Current assets | 29/58 | €59,823 | €99,752 | +€39,930 | +66.7% |
| Stocks and contracts in progress | 3 | €26,200 | €81,166 | +€54,966 | +210% |
| Stocks | 30/36 | €26,200 | €81,166 | +€54,966 | +210% |
| Amounts receivable within one year | 40/41 | €12,970 | €14,324 | +€1,354 | +10.4% |
| Trade receivables | 40 | €12,951 | €0 | -€12,951 | -100% |
| Other amounts receivable | 41 | €18 | €14,324 | +€14,305 | +78,043% |
| Cash at bank and in hand | 54/58 | €18,710 | €2,230 | -€16,480 | -88.1% |
| Deferred charges and accrued income | 490/1 | €1,943 | €2,033 | +€90 | +4.6% |
| Total equity and liabilities | 10/49 | €60,324 | €99,772 | +€39,448 | +65.4% |
| Equity | 10/15 | €45,796 | €36,912 | -€8,884 | -19.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €11,894 | €11,894 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €10,034 | €10,034 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,302 | €6,419 | -€8,884 | -58.1% |
| Amounts payable | 17/49 | €14,528 | €62,860 | +€48,331 | +333% |
| Amounts payable within one year | 42/48 | €14,528 | €62,860 | +€48,331 | +333% |
| Trade debts | 44 | €991 | €955 | -€36 | -3.6% |
| Suppliers | 440/4 | €991 | €955 | -€36 | -3.6% |
| Taxes, remuneration and social security | 45 | €1,705 | €74 | -€1,631 | -95.7% |
| Taxes | 450/3 | €1,705 | €74 | -€1,631 | -95.7% |
| Other amounts payable | 47/48 | €11,832 | €61,830 | +€49,998 | +423% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €482 | €482 | = | 0.0% |
| Other operating charges | 640/8 | €619 | €1,758 | +€1,139 | +184% |
| Gross operating margin | 9900 | -€4,705 | -€6,539 | -€1,834 | -39.0% |
| Operating profit (loss) | 9901 | -€5,806 | -€8,779 | -€2,972 | -51.2% |
| Financial charges | 65/66B | €104 | €105 | +€2 | +1.4% |
| Recurring financial charges | 65 | €104 | €105 | +€2 | +1.4% |
| Profit (loss) for the period before taxes | 9903 | -€5,910 | -€8,884 | -€2,974 | -50.3% |
| Profit (loss) for the period | 9904 | -€5,910 | -€8,884 | -€2,974 | -50.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,910 | -€8,884 | -€2,974 | -50.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.