Frans-Roger: 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-Roger
Largest movements
- Cash +€72,876
up €72,876 (+1,206%), from €6,044 to €78,920
mainly Depreciation (+€106,094) and Net result for the year (+€78,350)
- Receivables within one year -€66,665
down €66,665 (-16.4%), from €406,904 to €340,239
of which Trade receivables: -€66,692
- Stocks and contracts +€29,800
up €29,800 (+20.8%), from €143,400 to €173,201
- Tangible fixed assets -€25,265
down €25,265 (-2.1%), from €1.2m to €1.2m
of which Land and buildings: -€54,254
- Reserves +€78,350
up €78,350 (+15.7%), from €498,306 to €576,656
of which Distributable reserves: +€78,350
- Short-term financial debts -€35,943
down €35,943 (-93.5%), from €38,443 to €2,500
- Write-downs -€45,168
new in 2025: -€45,168
- Depreciation +€15,975
up €15,975 (+17.7%), from €90,119 to €106,094
- Gross operating margin +€9,923
up €9,923 (+2.6%), from €377,582 to €387,504
- Taxes +€7,868
up €7,868 (+31.9%), from €24,688 to €32,556
- Staff costs +€6,960
up €6,960 (+3.9%), from €177,782 to €184,742
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 | €1,782,038 | €1,796,515 | +€14,477 | +0.8% |
| Fixed assets | 21/28 | €1,221,688 | €1,195,107 | -€26,581 | -2.2% |
| Intangible fixed assets | 21 | €2,977 | €1,660 | -€1,317 | -44.2% |
| Tangible fixed assets | 22/27 | €1,218,681 | €1,193,416 | -€25,265 | -2.1% |
| Land and buildings | 22 | €1,070,037 | €1,015,783 | -€54,254 | -5.1% |
| Plant, machinery and equipment | 23 | €144,848 | €137,484 | -€7,363 | -5.1% |
| Furniture and vehicles | 24 | €3,796 | €40,149 | +€36,353 | +958% |
| Financial fixed assets | 28 | €31 | €31 | = | 0.0% |
| Current assets | 29/58 | €560,350 | €601,408 | +€41,058 | +7.3% |
| Stocks and contracts in progress | 3 | €143,400 | €173,201 | +€29,800 | +20.8% |
| Stocks | 30/36 | €143,400 | €173,201 | +€29,800 | +20.8% |
| Amounts receivable within one year | 40/41 | €406,904 | €340,239 | -€66,665 | -16.4% |
| Trade receivables | 40 | €406,904 | €340,211 | -€66,692 | -16.4% |
| Other amounts receivable | 41 | - | €27 | +€27 | |
| Cash at bank and in hand | 54/58 | €6,044 | €78,920 | +€72,876 | +1,206% |
| Deferred charges and accrued income | 490/1 | €4,002 | €9,048 | +€5,047 | +126% |
| Total equity and liabilities | 10/49 | €1,782,038 | €1,796,515 | +€14,477 | +0.8% |
| Equity | 10/15 | €516,898 | €595,248 | +€78,350 | +15.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €498,306 | €576,656 | +€78,350 | +15.7% |
| Non-distributable reserves | 130/1 | €41,218 | €41,218 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,718 | €3,718 | = | 0.0% |
| Other | 1319 | €37,500 | €37,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €90,000 | €90,000 | = | 0.0% |
| Distributable reserves | 133 | €367,088 | €445,438 | +€78,350 | +21.3% |
| Amounts payable | 17/49 | €1,265,140 | €1,201,267 | -€63,873 | -5.0% |
| Amounts payable after more than one year | 17 | €814,823 | €810,649 | -€4,174 | -0.5% |
| Financial debts | 170/4 | €814,823 | €810,649 | -€4,174 | -0.5% |
| Amounts payable within one year | 42/48 | €449,036 | €390,581 | -€58,455 | -13.0% |
| Current portion of amounts payable after more than one year | 42 | €73,672 | €71,162 | -€2,510 | -3.4% |
| Financial debts | 43 | €38,443 | €2,500 | -€35,943 | -93.5% |
| Credit institutions | 430/8 | €38,443 | €2,500 | -€35,943 | -93.5% |
| Trade debts | 44 | €143,972 | €133,318 | -€10,654 | -7.4% |
| Suppliers | 440/4 | €143,972 | €133,318 | -€10,654 | -7.4% |
| Taxes, remuneration and social security | 45 | €41,398 | €32,050 | -€9,348 | -22.6% |
| Taxes | 450/3 | €27,516 | €12,072 | -€15,444 | -56.1% |
| Remuneration and social security | 454/9 | €13,882 | €19,978 | +€6,096 | +43.9% |
| Other amounts payable | 47/48 | €151,551 | €151,551 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,281 | €38 | -€1,243 | -97.1% |
| Non-recurring operating income | 76A | €727 | - | -€727 | |
| Remuneration, social security and pensions | 62 | €177,782 | €184,742 | +€6,960 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €90,119 | €106,094 | +€15,975 | +17.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€45,168 | -€45,168 | |
| Other operating charges | 640/8 | €9,190 | €9,390 | +€200 | +2.2% |
| Non-recurring operating charges | 66A | €8,400 | - | -€8,400 | |
| Gross operating margin | 9900 | €377,582 | €387,504 | +€9,923 | +2.6% |
| Operating profit (loss) | 9901 | €92,091 | €132,446 | +€40,356 | +43.8% |
| Financial income | 75/76B | €1,641 | €81 | -€1,560 | -95.0% |
| Recurring financial income | 75 | €1,641 | €81 | -€1,560 | -95.0% |
| Financial charges | 65/66B | €18,466 | €21,622 | +€3,156 | +17.1% |
| Recurring financial charges | 65 | €18,466 | €21,622 | +€3,156 | +17.1% |
| Profit (loss) for the period before taxes | 9903 | €75,266 | €110,906 | +€35,640 | +47.4% |
| Income taxes | 67/77 | €24,688 | €32,556 | +€7,868 | +31.9% |
| Profit (loss) for the period | 9904 | €50,578 | €78,350 | +€27,772 | +54.9% |
| Profit (loss) for the period to be appropriated | 9905 | €50,578 | €78,350 | +€27,772 | +54.9% |
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 30 October 2026 via checked.be.