FRANS THOMAS: 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.
What changed
FRANS THOMAS
NACE 81.100, Combined facilities support activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€758,678
2024 · €78,039+€680,639
Equity
€4.3m
2024 · €3.5m+€758,678
Cash
€1.3m
2024 · €196,674+€1.1m
Balance sheet total
€7.7m
2024 · €7.2m+€598,335
Largest movements
Assets
- Cash +€1.1m
up €1.1m (+548.0%), from €196,674 to €1.3m
mainly Net result for the year (+€758,678) and Investment in fixed assets (net) (+€301,998)
- Tangible fixed assets -€482,654
down €482,654 (-11.7%), from €4.1m to €3.6m
of which Land and buildings: -€472,183
Equity and liabilities
- Reserves +€758,678
up €758,678 (+27.1%), from €2.8m to €3.6m
of which Tax-exempt reserves: +€673,501
- Debts after one year -€367,373
down €367,373 (-36.1%), from €1.0m to €650,301
of which Financial debts: -€367,373
- Provisions +€224,500
new in 2025: €224,500
Income statement
- Gross operating margin +€851,140
up €851,140 (+170.8%), from €498,402 to €1.3m
- Financial charges -€35,936
down €35,936 (-26.5%), from €135,765 to €99,829
- Depreciation -€32,716
down €32,716 (-15.3%), from €213,372 to €180,656
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.
Result 2024
€78,039
Gross operating margin
+€851,140
Depreciation
+€32,716
Write-downs
-€4,080
Other operating charges
-€5,004
Financial income
-€3,189
Financial charges
+€35,936
Taxes
-€2,379
Deferred taxes and other
-€224,500
Result 2025
€758,678
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.
From operations
+€1.1m
Investment
+€301,998
Financing
-€367,791
Cash 2024
€196,674
From operations (derived)
+€1.1m
Net result for the year
+€758,678
Depreciation
+€180,656
Receivables after one year
+€68,517
Stocks and contracts
-€44,575
Receivables within one year
-€21,791
Deferred charges and accrued income
-€5,276
Provisions
+€224,500
Trade debts
-€6,029
Accrued charges and deferred income
-€11,024
Investment (derived)
+€301,998
Investment in fixed assets (net)
+€301,998
Financing
-€367,791
Debts after one year
-€367,373
Current portion of long-term debt
-€418
Cash 2025
€1.3m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,151,000 | €7,749,335 | +€598,335 | +8.4% |
| Fixed assets | 21/28 | €4,125,576 | €3,642,922 | -€482,654 | -11.7% |
| Tangible fixed assets | 22/27 | €4,125,576 | €3,642,922 | -€482,654 | -11.7% |
| Land and buildings | 22 | €3,837,185 | €3,365,002 | -€472,183 | -12.3% |
| Plant, machinery and equipment | 23 | €10,471 | €0 | -€10,471 | -100.0% |
| Leasing and similar rights | 25 | €277,920 | €277,920 | = | 0.0% |
| Current assets | 29/58 | €3,025,424 | €4,106,413 | +€1.1m | +35.7% |
| Amounts receivable after more than one year | 29 | €109,684 | €41,167 | -€68,517 | -62.5% |
| Other amounts receivable | 291 | €109,684 | €41,167 | -€68,517 | -62.5% |
| Stocks and contracts in progress | 3 | €2,562,514 | €2,607,090 | +€44,575 | +1.7% |
| Stocks | 30/36 | €2,562,514 | €2,607,090 | +€44,575 | +1.7% |
| Amounts receivable within one year | 40/41 | €156,552 | €178,343 | +€21,791 | +13.9% |
| Trade receivables | 40 | €74,760 | €79,700 | +€4,940 | +6.6% |
| Other amounts receivable | 41 | €81,792 | €98,643 | +€16,851 | +20.6% |
| Cash at bank and in hand | 54/58 | €196,674 | €1,274,537 | +€1.1m | +548.0% |
| Deferred charges and accrued income | 490/1 | - | €5,276 | +€5,276 | |
| Total equity and liabilities | 10/49 | €7,151,000 | €7,749,335 | +€598,335 | +8.4% |
| Equity | 10/15 | €3,496,194 | €4,254,872 | +€758,678 | +21.7% |
| Contributions | 10/11 | €681,236 | €681,236 | = | 0.0% |
| Capital | 10 | €681,236 | €681,236 | = | 0.0% |
| Issued capital | 100 | €681,236 | €681,236 | = | 0.0% |
| Revaluation surpluses | 12 | €20,161 | €20,161 | = | 0.0% |
| Reserves | 13 | €2,794,797 | €3,553,476 | +€758,678 | +27.1% |
| Non-distributable reserves | 130/1 | €68,124 | €68,124 | = | 0.0% |
| Legal reserve | 130 | €68,124 | €68,124 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €673,501 | +€673,501 | |
| Distributable reserves | 133 | €2,726,674 | €2,811,851 | +€85,177 | +3.1% |
| Provisions and deferred taxes | 16 | - | €224,500 | +€224,500 | |
| Deferred taxes | 168 | - | €224,500 | +€224,500 | |
| Amounts payable | 17/49 | €3,654,806 | €3,269,962 | -€384,844 | -10.5% |
| Amounts payable after more than one year | 17 | €1,017,673 | €650,301 | -€367,373 | -36.1% |
| Financial debts | 170/4 | €1,008,523 | €641,151 | -€367,373 | -36.4% |
| Other amounts payable | 178/9 | €9,150 | €9,150 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,601,271 | €2,594,824 | -€6,447 | -0.2% |
| Current portion of amounts payable after more than one year | 42 | €220,791 | €220,373 | -€418 | -0.2% |
| Financial debts | 43 | €2,349,000 | €2,349,000 | = | 0.0% |
| Credit institutions | 430/8 | €2,349,000 | €2,349,000 | = | 0.0% |
| Trade debts | 44 | €31,467 | €25,438 | -€6,029 | -19.2% |
| Suppliers | 440/4 | €31,467 | €25,438 | -€6,029 | -19.2% |
| Taxes, remuneration and social security | 45 | €13 | €13 | = | 0.0% |
| Taxes | 450/3 | €13 | €13 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €35,862 | €24,838 | -€11,024 | -30.7% |
| Non-recurring operating income | 76A | - | €898,002 | +€898,002 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €213,372 | €180,656 | -€32,716 | -15.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €4,080 | +€4,080 | |
| Other operating charges | 640/8 | €67,140 | €72,144 | +€5,004 | +7.5% |
| Gross operating margin | 9900 | €498,402 | €1,349,541 | +€851,140 | +170.8% |
| Operating profit (loss) | 9901 | €217,889 | €1,092,661 | +€874,772 | +401.5% |
| Financial income | 75/76B | €21,928 | €18,739 | -€3,189 | -14.5% |
| Recurring financial income | 75 | €21,928 | €18,739 | -€3,189 | -14.5% |
| Financial charges | 65/66B | €135,765 | €99,829 | -€35,936 | -26.5% |
| Recurring financial charges | 65 | €135,765 | €99,829 | -€35,936 | -26.5% |
| Profit (loss) for the period before taxes | 9903 | €104,052 | €1,011,571 | +€907,519 | +872.2% |
| Transfer to deferred taxes | 680 | - | €224,500 | +€224,500 | |
| Income taxes | 67/77 | €26,013 | €28,392 | +€2,379 | +9.1% |
| Profit (loss) for the period | 9904 | €78,039 | €758,678 | +€680,639 | +872.2% |
| Transfer to tax-exempt reserves | 689 | - | €673,501 | +€673,501 | |
| Profit (loss) for the period to be appropriated | 9905 | €78,039 | €85,177 | +€7,138 | +9.1% |
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 2 October 2026 via checked.be.