Frans & Bertha: 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.
Frans & Bertha
Largest movements
- Receivables within one year +€700,165
up €700,165 (+96.5%), from €725,780 to €1.4m
of which Trade receivables: +€667,644
- Tangible fixed assets +€137,348
up €137,348 (+13.6%), from €1.0m to €1.1m
of which Leasing and similar rights: +€148,745
- Cash +€78,037
up €78,037 (+49.7%), from €157,109 to €235,146
mainly Net result for the year (+€1.0m) and Trade debts (+€533,324)
- Stocks and contracts +€70,589
up €70,589 (+27.1%), from €260,617 to €331,206
- Reserves +€790,861
new in 2025: €790,861
- Trade debts +€533,324
up €533,324 (+136%), from €391,733 to €925,057
- Other debts -€526,578
down €526,578 (-94.8%), from €555,209 to €28,631
- Profit (loss) carried forward +€218,743
up €218,743, from -€218,743 to €0
- Short-term financial debts -€50,000
down €50,000 (-16.7%), from €300,000 to €250,000
- Gross operating margin +€1.1m
up €1.1m (+172%), from €651,354 to €1.8m
- Taxes +€194,242
up €194,242 (+129,176%), from €150 to €194,392
- Staff costs +€83,339
up €83,339 (+48.9%), from €170,286 to €253,626
- Depreciation +€29,066
up €29,066 (+16.3%), from €178,390 to €207,457
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 | €2,196,959 | €3,194,165 | +€997,206 | +45.4% |
| Fixed assets | 21/28 | €1,048,730 | €1,182,683 | +€133,953 | +12.8% |
| Intangible fixed assets | 21 | €16,576 | €13,181 | -€3,395 | -20.5% |
| Tangible fixed assets | 22/27 | €1,009,359 | €1,146,706 | +€137,348 | +13.6% |
| Plant, machinery and equipment | 23 | €694,484 | €673,620 | -€20,865 | -3.0% |
| Furniture and vehicles | 24 | €12,293 | €21,761 | +€9,467 | +77.0% |
| Leasing and similar rights | 25 | €302,581 | €451,326 | +€148,745 | +49.2% |
| Financial fixed assets | 28 | €22,796 | €22,796 | = | 0.0% |
| Current assets | 29/58 | €1,148,228 | €2,011,482 | +€863,253 | +75.2% |
| Stocks and contracts in progress | 3 | €260,617 | €331,206 | +€70,589 | +27.1% |
| Stocks | 30/36 | €260,617 | €331,206 | +€70,589 | +27.1% |
| Amounts receivable within one year | 40/41 | €725,780 | €1,425,945 | +€700,165 | +96.5% |
| Trade receivables | 40 | €604,072 | €1,271,716 | +€667,644 | +111% |
| Other amounts receivable | 41 | €121,708 | €154,229 | +€32,522 | +26.7% |
| Cash at bank and in hand | 54/58 | €157,109 | €235,146 | +€78,037 | +49.7% |
| Deferred charges and accrued income | 490/1 | €4,723 | €19,185 | +€14,462 | +306% |
| Total equity and liabilities | 10/49 | €2,196,959 | €3,194,165 | +€997,206 | +45.4% |
| Equity | 10/15 | -€168,743 | €840,861 | +€1.0m | |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | - | €790,861 | +€790,861 | |
| Distributable reserves | 133 | - | €790,861 | +€790,861 | |
| Profit (loss) carried forward | 14 | -€218,743 | €0 | +€218,743 | |
| Amounts payable | 17/49 | €2,365,701 | €2,353,303 | -€12,398 | -0.5% |
| Amounts payable after more than one year | 17 | €891,476 | €888,081 | -€3,395 | -0.4% |
| Financial debts | 170/4 | €891,476 | €888,081 | -€3,395 | -0.4% |
| Amounts payable within one year | 42/48 | €1,474,226 | €1,465,223 | -€9,003 | -0.6% |
| Current portion of amounts payable after more than one year | 42 | €186,791 | €211,499 | +€24,709 | +13.2% |
| Financial debts | 43 | €300,000 | €250,000 | -€50,000 | -16.7% |
| Credit institutions | 430/8 | €300,000 | €250,000 | -€50,000 | -16.7% |
| Trade debts | 44 | €391,733 | €925,057 | +€533,324 | +136% |
| Suppliers | 440/4 | €391,733 | €925,057 | +€533,324 | +136% |
| Advances received on contracts in progress | 46 | - | €685 | +€685 | |
| Taxes, remuneration and social security | 45 | €40,493 | €49,351 | +€8,858 | +21.9% |
| Taxes | 450/3 | €4,965 | €5,795 | +€830 | +16.7% |
| Remuneration and social security | 454/9 | €35,528 | €43,556 | +€8,028 | +22.6% |
| Other amounts payable | 47/48 | €555,209 | €28,631 | -€526,578 | -94.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €170,286 | €253,626 | +€83,339 | +48.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €178,390 | €207,457 | +€29,066 | +16.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €945 | +€945 | |
| Other operating charges | 640/8 | €7,470 | €3,031 | -€4,439 | -59.4% |
| Non-recurring operating charges | 66A | €10,437 | €5,209 | -€5,228 | -50.1% |
| Gross operating margin | 9900 | €651,354 | €1,774,940 | +€1.1m | +172% |
| Operating profit (loss) | 9901 | €284,770 | €1,304,672 | +€1.0m | +358% |
| Financial income | 75/76B | €8,412 | €1,017 | -€7,395 | -87.9% |
| Recurring financial income | 75 | €8,412 | €1,017 | -€7,395 | -87.9% |
| Financial charges | 65/66B | €106,561 | €101,693 | -€4,867 | -4.6% |
| Recurring financial charges | 65 | €106,561 | €101,693 | -€4,867 | -4.6% |
| Profit (loss) for the period before taxes | 9903 | €186,622 | €1,203,996 | +€1.0m | +545% |
| Income taxes | 67/77 | €150 | €194,392 | +€194,242 | +129,176% |
| Profit (loss) for the period | 9904 | €186,472 | €1,009,604 | +€823,133 | +441% |
| Profit (loss) for the period to be appropriated | 9905 | €186,472 | €1,009,604 | +€823,133 | +441% |
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 30 October 2026 via checked.be.